The geogrid market size was recorded at USD 762.4 million in 2022 and is anticipated to reach USD 1,214.5 million in 2028, with a CAGR of 11.2% over the forecast period 2023-2028
Geogrids are primarily utilized for reinforcement in construction applications. Geogrids are structured and relatively more methodical for a diversity of construction-related applications. These geogrids exhibit exceptional properties, including good resistance to stress and the ability to distribute the load over a larger area. Geogrids have a relatively higher load capacity, especially at the joint, and therefore the load is distributed over the adjacent ribs. The use of geogrids allows for design flexibility in which by changing the length of the geogrids, the length of the walls can be changed accordingly, and hence the whole system acts as one unit. Geogrids are utilized in an extensive variety of construction applications, consisting of roads, dams, ports, and rail infrastructure.
Geogrids are utilized for various applications. Road construction is the largest type segment of the geogrid market. The use of geogrids provides the structure or area with better road surface quality and road safety, low maintenance requirements, elimination of the need for over-excavation and disposal of poor quality soil, high vehicle performance of earth movement, and resistance to inclement weather such as torrential rains. In addition, the use of geogrids is safe for the environment, as it helps reduce carbon emissions.
The global geogrids market is anticipated to grow owing to escalating application base in the infrastructure industry due to escalating infrastructure development activities in upcoming countries. Geogrids are also utilized for various applications in road and rail development activities, due to the reduction in maintenance costs, time, and overall thickness of railways and roads. Adding geogrids to soil or other geotechnical materials creates a composite material, where one element depends on the other element to form a complete system. The application of geogrids results in significant savings and lower life cycle costs compared to other structural materials. Geogrids are flexible structures and therefore are utilized to reinforce and pave the subgrade, helping to strengthen and extend the life of infrastructure works. The popularity of geogrids is anticipated to increase due to the high resistance to physical degradation and loss of rigidity caused by harsh chemical environments. The unique properties of the product, such as lightness, easy handling, and high-temperature stability, are also anticipated to escalate the call for geogrids over the next seven years. Geogrids find important applications in transportation and civil construction, due to higher efficiency and lower costs, compared to conventional materials. Geogrids are utilized for asphalt and base reinforcement on soft soils and also to reduce the thickness of the asphalt layer for critical road and rail construction applications. Geogrids and geotextiles are escalating and utilized together to perform functions such as separation, drainage, filtration, and protection. All of these applications are anticipated to drive the geogrid market during the forecast period.
The volatility of polyester and polypropylene prices, due to fluctuations in crude oil prices, is anticipated to hamper the call for the product. Less experience and R&D activities in underdeveloped countries are anticipated to reduce the scope of application of geogrids in these countries. However, increased awareness of the product benefits and escalating calls for quality-assured designs are anticipated to create opportunities for market participants during the forecast period. The increased applications of geogrids in the petroleum and mining industry and increased government initiatives for product promotion are anticipated to fuel the growth of the geogrid market.
The increase in infrastructure development activities in emerging countries has led to an increased call for geogrids in the market. The outstanding properties of geogrids such as lightness, ease of handling, and high-temperature stability are the other key factors in the market. The reduction in maintenance cycles and costs associated with using geogrids is anticipated to drive market growth during the forecast period. Increased awareness and increased number of geogrid R&D activities are factors projected to create opportunities for market players during the forecast period.
The lack of knowledge of geogrids is a major challenge for the growth of the geogrid market. Building standards in emerging economies do not incorporate geogrids as a basic building material. In addition, inadequate quality control in developing countries affects the general geogrid market. The fluctuation in the price of raw materials is the main factor affecting the price of finished products. The main raw materials utilized in the production of geogrids are PVC, polyester, polyethylene and polypropylene. All of these raw materials are derived from crude oil. The fluctuation is acquired mainly due to the depletion of crude oil reserves which hinders the growth of the market. Hence, impacting the call and growth of the Geogrid market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022-2028 |
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Base Year |
2022 |
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Forecast Period |
2023-2028 |
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CAGR |
10.4% |
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Segments Covered |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
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Market Leaders Profiled |
Low & Bonar, Koninklijke Ten Cate bv, OfficineMaccaferri Spa, HUESKER, Strata Systems, Inc., ACE Geosynthetics, Carthage Mills, Inc., Asahi Kasei Advance Corporation, Tensar International Corporation, TenaxS.p.a., NAUE GmbH & Co. KG, Propex Operating, Pietrucha Sp. z o.o., BOSTD Geosynthetics Qingdao Ltd., Taian Modern Plastic Co., Ltd, Wrekin Products Ltd, Thrace Group, |
Uniaxial Geogrid
Biaxial Geogrid
Triaxial Geogrid
Road Construction
Railroad Stabilization
Soil Reinforcement
Extruded
Knitted/woven
Bonded
The Geogrid report includes the segmentation of Regions:
By region, Asia-Pacific, followed by North America, accounted for the largest share of the global geogrid market, contributing nearly two-fifths of the total market share in 2019, and will maintain its largest contribution to the global market during the forecast period. Additionally, this region is anticipated to grow at the fastest CAGR of 11.2% between 2020 and 2026. This is attributed to an increased call for geogrids in the building construction and road industry in the region. . In addition, increased call for high-speed rail transport networks in regions such as East Asia, South Asia, and Southeast Asia is driving growth. However, North America was the second-highest income during the forecast period, contributing almost a third of the total share in 2019.
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