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Global Geogrids Market - Forecasts from 2022 to 2027

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    Report

  • 105 Pages
  • March 2022
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5576422
The global geogrids market is projected to grow at a compound annual growth rate of 4.01%. It was valued at US$700.806 million in 2020 and is expected to reach a size of US$959.596 million in 2027.



Owing to the increase in demand for geogrid in transportation and construction, the geogrid market is estimated to grow at a faster pace during the forecast period.

Despite the outbreak of Covid-19, which affected the manufacturing of geogrid, the comeback of road construction projects is expected to robust the geogrid market growth in upcoming years.

Geogrid is a geosynthetic material. This material is used for reinforcing the soils and similar materials. Its usage is majorly made to reinforce retaining walls and subsoils or subbases. The geogrid decreases the deformability of the soil and improves its bearing capacity. The rising number of infrastructure projects in many developing and developed countries have led to a surge in demand for geogrid. This is one of the essential factors to drive the growth in the global geogrid market in recent years. Moreover, although many infrastructure projects went on halt due to COVID-19 in the year 2019 and 2020, to overcome the loss, government and market players are planning to build these projects actively in upcoming years. This has expected to contribute to the growth of the geogrid market during the forecast period.

Increasing Road construction to boost the market


Geogrid is made in road constructions, soil reinforcement, railroad stabilization, and many other sectors. Wherein, the demand for geogrid is expected to incline towards road construction sector. The use of geogrid in road construction improves its road surface quality and increases the safety of roads. This has eliminated the need for disposal and over-excavation of poor-quality soil. It has also improved the performance to bear earth moving vehicles. Due to the use of geogrid, the maintenance is required low, which provides resistance against inclement climate change such as heavy rain in the area. Moreover, the geogrid reduced carbon emission; its use is also environmentally safe. Thus, many environmentalists encourage the industrialists to use geogrid in road construction.

Geogrid is available in various types, such as uniaxial, biaxial, and triaxial. Among these, biaxial geogrid is expected to portray a significant share in the geogrid market in upcoming years. This is due to its properties, such as optimum load-bearing and exceptional junction strength. Biaxial geogrid is used on a large scale in the road construction sector as it provides strength to the road. It can be found in the materials of roads, highways, expressways, flyovers, and bridges.

Many new projects have been planned for road infrastructure developments. For instance,

  • In November 2021, Scotland had a plan of carrying out a civil engineering and infrastructure project adjacent to the Clyde River, which will be worth Euro 2.8 million. This will be carried out by Clyde Gateway Developments Limited.

Latest developments 

  • In December 2021, Tensar Corporation, a leading manufacturer of geogrid material for civil construction with Castle Harlan Inc, announced its entry into the metal industry by signing an agreement with Commercial Metals Company. This will help them to expand their production of geogrid and create more opportunities for application in the construction sector.
  • In March 2021, HUESKER group, a leading geogrid company, announced the availability of Fortrac T geogrid in the ecoLine version. This flexible geogrid is produced from 100% recycled polyester yarns.

North America possesses the largest market share


Due to modernization at a faster pace in the countries such as the United States and Canada, the up-gradation of infrastructure is rising here. During the next five years, it has been projected that these countries to expand their prevalent infrastructure facilities. This led to the increasing demand for geogrid from these countries. Hence, North America is projected to hold a significant share in the geogrid market during the forecast period. 

Whereas, due to the increase in infrastructure projects in many Asian countries, the Asia-Pacific region is expected to grow faster during the forecast period. Nevertheless, Europe is also projected to grow in the geogrid market in the next five years.

Segmentation


By Type

  • Uniaxial Geogrid
  • Biaxial Geogrid
  • Triaxial Geogrid

By Application

  • Road Construction
  • Railroad Stabilization
  • Soil Reinforcement

By Geography

  • North America
  • USA
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
  • Middle East and Africa
  • South Africa
  • Saudi Arabia
  • Others
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Taiwan
  • Indonesia
  • Others
Frequently Asked Questions about the Global Geogrids Market

What is the estimated value of the Global Geogrids Market?

The Global Geogrids Market was estimated to be valued at $700.81 million in 2020.

What is the growth rate of the Global Geogrids Market?

The growth rate of the Global Geogrids Market is 4.0%, with an estimated value of $959.6 million by 2027.

What is the forecasted size of the Global Geogrids Market?

The Global Geogrids Market is estimated to be worth $959.6 million by 2027.

Who are the key companies in the Global Geogrids Market?

Key companies in the Global Geogrids Market include Tensar Corporation, HUESKER Synthetic GmbH, BPM geosynthetics, NAUE GmbH & Co. KG, Carthage Mills, Inc, SOLMAX, BOSTD Geosynthetics Qingdao Ltd, Thrace Group and Wrenkin Products Ltd.

Table of Contents

1. INTRODUCTION1.1. Market Definition
1.2. Market Segmentation

2. RESEARCH METHODOLOGY  2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY3.1. Research Highlights

4. MARKET DYNAMICS4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. GLOBAL GEOGRID MARKET BY TYPE5.1. Uniaxial Geogrid
5.2. Biaxial Geogrid
5.3. Triaxial Geogrid

6. GLOBAL GEOGRID MARKET BY APPLICATION6.1. Road Construction
6.2. Railroad Stabilization
6.3. Soil Reinforcement

7. GLOBAL GEOGRID MARKET BY GEOGRAPHY7.1. Introduction
7.2. North America
7.2.1. USA
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. United Kingdom
7.4.4. Italy
7.4.5. Spain
7.4.6. Others
7.5. Middle East and Africa
7.5.1. South Africa
7.5.2. Saudi Arabia
7.5.3. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. Japan
7.6.3. South Korea
7.6.4. India
7.6.5. Thailand
7.6.6. Indonesia
7.6.7. Taiwan 
7.6.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES9.1. Tensar Corporation
9.2. HUESKER Synthetic GmbH
9.3. BPM geosynthetics
9.4. NAUE GmbH & Co. KG
9.5. Carthage Mills, Inc
9.6. SOLMAX
9.7. BOSTD Geosynthetics Qingdao Ltd
9.8. Thrace Group
9.9. Wrenkin Products Ltd

Companies Mentioned

  • Tensar Corporation
  • HUESKER Synthetic GmbH
  • BPM geosynthetics
  • NAUE GmbH & Co. KG
  • Carthage Mills, Inc
  • SOLMAX
  • BOSTD Geosynthetics Qingdao Ltd
  • Thrace Group
  • Wrenkin Products Ltd

Methodology

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