According to IMARC Group latest report titled “Geogrid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on global geogrid market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global geogrid market reached a value of US$ 1,017 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,688 Million by 2027, exhibiting a CAGR of 9.05% during 2022-2027.
Geogrids refer to geosynthetic materials comprising connected parallel sets of tensile ribs with open spaces. They are manufactured using polyethylene (PET), high-density polyethylene (HDPE), polypropylene (PP), aramid (AR), and polyvinyl alcohol (PVA) via knitting or weaving, bonding, welding, and extrusion processes. They are widely used as reinforcements in construction applications to enhance the strength of soil and other materials, promote soil stabilization, and enable land optimization. As a result, geogrids are extensively utilized in constructing retaining walls, airport runways, parking lots, haul roads, landfill liner systems, permanent unpaved roads, and embankments over soft soils.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Significant growth in the construction industry due to the expanding global population and rapid urbanization represents the primary factor driving the market growth. Besides this, the increasing geogrid applications in road construction and the rising infrastructure development activities, especially in the developing regions, are other major growth-inducing factors. In addition, geogrids are gaining traction across the globe as they provide excellent resistance against soil microorganisms, chemicals, ultraviolet (UV) radiation, long-term biological degradation, and installation and mechanical damage. Along with this, with the growing environmental concerns, several favorable initiatives undertaken by the governing and non-governing agencies of various countries, such as launching awareness campaigns to prevent erosion, have augmented the product demand. Furthermore, there has been widespread product adoption in high terrain areas and sites with unfavorable conditions, such as wet and weak soil, to facilitate easy and durable construction. Besides this, the surging popularity of geogrids as a cost-effective and environment-friendly alternative to lime stabilization for heavy clays that contain sulfates has catalyzed the market growth.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- ACE Geosynthetics Enterprise Co. Ltd.
- Carthage Mills Inc.
- HUESKER Synthetic GmbH
- Koninklijke Ten Cate B.V.
- NAUE GmbH & Co. KG
- Propex Operating Company LLC
- S i A Pietrucha Sp. z o.o.
- Taian Modern Plastics Co. Ltd
- Tensar International Corporation
- Thrace Group
- Wrekin Products Ltd
Geogrid Market Segmentation:
Our report has categorized the market based on region, type and application.
Breakup by Type:
- Uniaxial Geogrid
- Biaxial Geogrid
- Triaxial Geogrid
Breakup by Application:
- Road Industry
- Railroad Stabilization
- Soil Reinforcement
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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