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The global silt curtain market size is projected to reach USD 10,271.8 Thousand by the end of 2027. The rising building and construction activities will aid the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Silt Curtain Market Size, Share & Industry Analysis, By Type (Type I, Type II, and Type III), and By Application (Erosion Control, and Construction), and Regional Forecast, 2020-2027,” the market was worth USD 7,765.7 Thousand in 2019 and will exhibit a CAGR of 3.8% during the forecast period, 2020-2027.
Silt curtains are products that are used in waterways to prevent the pollution that is normally caused by sediments. They prevent the unwanted sediments to enter waterbodies during construction and building activities. These products are installed in a way that will provide these waterbodies sufficient settling time. The cost-effectivity of these products, coupled with diverse applications, has created a huge demand in recent years. Increasing construction activities have opened up a wider scope of applications and subsequently high product adoption. The increasing investment in installation of the product by contractors and workers will bode well for the market in the coming years. The high emphasis by manufacturers on developing efficient products with improved features such as durability and rigidity will have a positive impact on the growth of the overall market in the foreseeable future. Additionally, the presence of several large scale companies will create several growth opportunities for the market.
Emergence of Covid-19 Pandemic has Brought Silt Curtain Manufacturing to a Standstill
The recent coronavirus outbreak has created a huge conundrum in the manufacturing sector. Although few companies that fall under the essential category continue their operations, majority of the companies have been shut down temporarily. This is mainly done to control the spread of the disease. The rapid spread of the disease has created panic across the world and governments are imposing strict measures to curb the pandemic.
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Geofabrics Completes Acquisition of Maccaferri
The report includes a few of the major industry developments of recent times and discusses their impact on the growth of the overall market. Due to the increasing applications and subsequently rising demand for the product, companies are looking to invest more in the development of efficient product, with a view to establishing a stronghold in the market. In February 2015, Geofabrics announced that it has completed the acquisition of Maccaferri Australia. The New Zealand based unit of Geofabrics will look to collaborate with Maccaferri’s exceptional services. The companies plan to expand their businesses across numerous industries including construction and mining. The increasing investment by large scale companies in the manufacturing process of silt curtains will bode well for the growth of the market in the coming years.
Company Mergers are a Growing Trend Among Major Companies
The increasing demand for silt curtains, owing to diverse applications across several industries, has encouraged medium as well as large scale companies. Accounting to the increasing demand, companies are looking to adopt newer strategies that will help them acquire a wider customer base. It is observed that company mergers and collaborations are an increasing trend among major companies across the world.
List of companies profiled in the report:
The global silt curtain market is segmented on the basis of:
Value (USD Thousand) and Volume (Thousand Square Meters)