Agro textiles market to grow at 10% annually

Written by Commodities Bureau | Mumbai, Oct 1 | Updated: Oct 3 2008, 05:25am hrs
The agro-textile market is expected to grow at an average of 10% per annum.

In continuation to the consumption of technical textiles worldwide, the importance of agro-textiles and its relevance to developing countries like India is well brought out.

The current market size for agro textiles is around Rs 577 crore and could grow to Rs 900 crore in 2010. The market for agro textiles is expected to grow at 10% per annum, according to a concept paper on agro textiles released by Ficci and Sasmira at the seminar held here on Wednesday.

Worldwide growth of agro-textiles does not show a significant growth. The agro-textiles market is expected to grow from 16,15,000 tonne (US$6.5 billion) in 2005 to 19,56,000 tonne ($8.1 billion) in 2010. This growth is expected to be at the average rate of 3.9% annually.

Agro-textile is one of the significant segments of technical textiles products. The market size and potential of the technical textile industry including component in twelve segments has been estimated at Rs 29,579 crore in 2007-08. The items covered under agro-textiles are fishnets, shade fabrics, mulch mats and woven and non-woven crop covers.