IMARC Group’s latest report, titled “Geogrid Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global geogrid market size reached US$ 1,017 Million in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Geogrid Market Trends:
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. On account of these factors, IMARC Group expects the market value to reach US$ 1,688 Million by 2027, growing at a CAGR of 9.05% during 2022-2027.
- Based on the type, the market has been divided into uniaxial, biaxial, and triaxial geogrids.
- On the basis of the application, the market has been categorized into road industry, railroad stabilization, soil reinforcement, and others.
- Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, 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, and Wrekin Products Ltd.
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