Geogrid Market by Application: Global Opportunity Analysis and Industry Forecast, 2019-2026

Executive Summary

According to the report titled, 'Geogrid Market by Application: Opportunity Analysis and Industry Forecast, 2019-2026', the geogrid market was valued at $0.8 billion in 2018, and is projected to reach $1.8 billion by 2026, growing at a CAGR of 9.9% from 2019 to 2026. Recently, economies are highly investing in transportation and building construction which in creases the demand for the geogrids in these industries. Geogrid possess excellent properties such as light weight, easy handling and high temperature stabilities. These are the key factors that attract the consumers from civil applications resulting in the growth of the market globally.

The global geogrid market is primarily driven by the increase in building & construction and infrastructural activities. Moreover, majority of the companies have adopted business expansion and product launch as their key business strategies to maintain their position in the global market. However, variability in the price of polyester, polypropylene owing to crude oil price fluctuations is anticipated to hinder the market growth.

On the basis of application, the road industry segment was the major revenue contributor in 2018 and is expected to be remaining dominant during the forecast period. This is owing to the increase in demand for transportation facilities. Also, the use of geogrid in the road industry reduces the maintenance cycles and cost which is results in the highest market share of this segment.

On the basis of region, the geogrid market size is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific held the dominant geogrid market share in 2018 and is anticipated to maintain its dominance during the forecast period. This is attributed to numerous factors such as a huge consumer base, the rise in infrastructure development activities, increase in construction activities (Transportation sector) and up gradation of infrastructural facilities in the region.

Moreover, Asia-Pacific registered the highest growth rate in the global geogrid market owing to the rise in demand for geogrids in the construction industry. The region is expected to maintain the highest growth rate during the forecast period.

Key player profiles included in the report are ACE Geosynthetics, Glen Raven Inc., Huesker Synthetic GmbH, Low & Bonar PLC, Maccaferri Group-SECI SpA, Naue GmbH & Co. Kg, Tenax SPA, Koninklijke Ten Cate B.V., Tensar, and Wrekin Products. Other players operating in the value chain include Propex Operating Company LLC, Asahi- Kasei Geotech, Carthage Mills, Thrace, Pietrucha, and others.

Key Findings Of The Study:

By application, the road industry segment emerged as the global leader by acquiring around 36.01% of geogrid market share in 2018, and is anticipated to be the largest market during the forecast period.
Asia-Pacific is the major consumer of geogrid among other regions. It accounted for around 38.99% of the global market share in 2018 as a result of rapid increase in infrastructural development activities and construction activities across the region.
Soil reinforcement registered the highest growth rate of 10.2% in the global geogrid market and is anticipated to maintain it during the forecast period.

Companies Mentioned

• ACE Geosynthetics
• Glen Raven Inc.
• Huesker Synthetic GmbH
• Low & Bonar PLC
• Maccaferri Group-SECI SpA
• Naue GmbH & Co. Kg
• Tenax SPA
• Koninklijke Ten Cate B.V.
• Tensar
• Wrekin Products. Other players operating in the value chain include Propex Operating Company LLC
• Asahi- Kasei Geotech
• Carthage Mills
• Thrace
• Pietrucha

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.