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Geogrid Market - Forecast (2022 - 2027)

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  • 141 Pages
  • March 2022
  • Region: Global
  • IndustryARC
  • ID: 5616235
The Geogrid market size is forecast to reach $1.4 billion by 2027, after growing at a CAGR of 9.2% over the forecast period from 2022-2027. The growing use of geogrids in the emerging economies such as China and India; rising infrastructure investments; and increasing road maintenance activities across the globe are the major factors anticipated to drive the global geogrid market. The ever-growing development of the transportation sector is favoring the future growth and value of this market along with the infrastructure developmental activities which enriches its worth and emerging trends like the adoption of natural geogrid. Unstable prices of polyester and Polypropylene, dependent upon inconsistent crude oil prices are forecasted to obstruct the product demand. Due to the global lockdown with the outbreak of COVID-19 many infrastructure development activities have halted. Investors have become hesitate to invest in new project or development activities due to economic turmoil across many countries of the world. This is further hindering the growth of the geogrid market.

Report Coverage

The report: “Geogrid Market - Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Geogrid Industry.
  • By Manufacturing Process: Extrusion Geogrid, Woven Geogrid, and Bonded Geogrid.
  • By Type: Uniaxial, Biaxial, and others.
  • By Material Type: PVC, Polyester, Polyethylene, Polypropylene, and Others.
  • By Application: Retaining Walls, Roads and Highways, Railways, Soil Reinforcement, and Others.
  • By Geography: Asia-Pacific, North America, Europe, South America, and RoW.

Key Takeaways

  • The Asia-Pacific region is expected to dominate the market for geogrids during the forecast period owing to increasing road construction activities in developing countries, such as India and China.
  • The demand for the geogrid market increasing due to its light weight, tensile strength, high load bearing capacity, highly versatile and low maintenance requirements.
  • Increasing R&D activities in terms of new product developments are further creating opportunity for geogrid.

Geogrid Market Segment Analysis - By Manufacturing Process

Based on the manufacturing process, the woven geogrid segment acquired a significant share in the global geogrid market. It reduces manufacturing costs and minimizes or eliminates waste disposal problems that can cause environmentally pollution concerns. Woven geogrid provides selective separation, reinforcement and other geotechnical. It can be easily implemented on site and also reduces the cost of manufacturing product. Woven geogrid become stronger after elongation. With the help of woven geogrid soils, rock and earth can be used with foundation.

Geogrid Market Segment Analysis - By Type

Biaxial Geogrid segment is expected to lead the market by type segment as it is highly demanded geogrid for the road construction. This growth can be attributed by the superior junction strength and optimum load bearing properties of the biaxial geogrid. Biaxial has a tensile strength in two dimensions which use for unpaved roads and flexible pavement of reinforcement.

Geogrid Market Segment Analysis - By Material Type

PVC material type segment held a significant share in the global geogrid market in 2019. PVC is a high strength filament yarns those are aggregate of binder material, which also provides a protective material. PVC gives a structure to geogrid with desired properties such as UV resistance and chemical base resistance. Further, the easy availability of raw material (i.e. PVC) to manufacture geogrid is another factor contributing in the growth of PVC based geogrid market.

Geogrid Market Segment Analysis - By Application

The roads and highways segment dominated the geogrid market in 2019. Rising investment in road infrastructure, growing road maintenance activities, and rising adoption of geogrid in roads and highways are the major factor boosting the geogrid demand in the roads and highways application segment. The various governments taking initiatives to improve the infrastructure is the primary factor boosting the geogrid demand. For instance, in April 2020, The Indian Government set a target of road construction worth $212.80 billion over the two years.

Geogrid Market Segment Analysis - Geography

The global market of geogrid is anticipated to be dominated by the Asia-Pacific region due to the growth in the construction and infrastructure industry in the region. Countries like India and China where governments have invested in the region for the development of soil and road infrastructure. The Indian Government set a target for road construction worth $74.7 billion by 2020 and annually spends worth $4 billion on road construction. The market in the Asia Pacific is projected to grow at the highest CAGR between 2022 and 2027, in terms of value and volume both. The increasing demand for geogrids in infrastructural activities in the region is projected to boost the geogrid market growth.

Due to COVID-19 pandemic mostly affected the global economy by the financial impact on firms and financial markets. Most of the companies have gone under lockdown due to which the market is stopped, which is very hinder for the geogrid market growth.

Geogrid Market Drivers

The increasing demand of geogrid in various secto

The use of geogrid helps in reducing carbon emissions and gives an ingenious environment. It improves the quality of road construction with low cost and disposal the soil of poor qualities. Many companies launched product to maintain their position in the geogrid market, however variability in the price of material segments owing to fluctuation in anticipated to hinder the market growth. Asia-Pacific registered the highest growth rate in the global geogrid market owing to the rise in demand of geogrid in the construction industry. The two largest country India and China cover their economies are highly investing in transportation and building construction which increases the demand for the geogrids.

Reduces road maintenance cost

Geogrid will continue to provide reinforcement or reconstructed flexible pavements. PVC improves the properties of soil and rock for construction, during construction PVC geogrid designed with a thickness of low volume for paved roads. With the cost maintenance PVC improves in to strengthen and durability of the road construction. Geogrid enhanced bearing capacity and load distribution of the pavement system.

Geogrid Market Challenges

Lack of skilled workforce

The installation of geogrid requires a very skilled workforce. But in some part of the globe, there are lack of skilled workforces which creates a hurdle for the growth of the geogrid market. Further, the construction standards need modification according geogrid market. The construction standards in the emerging economies do not incorporate geogrids as a basic component material.

Volatility in Pricing of Raw Materials

Raw materials’ price fluctuation is the major factor that affects the price of end products. Major raw materials used in the production of geogrid are PVC, polyester, polyethylene, and polypropylene. All these raw materials are derived from the crude oil. The fluctuation is acquiring majorly due to depleting reserves of crude oil is hinders for the market growth. There by, impacting the demand and growth of the geogrid market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the geogrid market. In 2019, the market of geogrid has been consolidated by the top five players accounting for xx% of the share. Major players in the geogrid Market are Tensar, HUSKER, ACE geosynthetics, Maccaferri, Naue Geosynthetics, and others.

Acquisitions/Technology Launches

In 2019, HUSKER has developed the 100% recycled polyethylene terephthalate product based on geogrid under their “Eco LINE” product range, designed to meet the significant requirements of utilizing environment friendly solutions.

This product will be delivered within 2 business days.

Table of Contents

1. Geogrid Market - Market Overview
1.1 Definitions and Scope
2. Geogrid Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends by Manufacturing process
2.3 Key trends by Type
2.4 Key trends by Material Type
2.5 Key trends by Application
2.6 Key trends by Geography analysis
3. Geogrid Market - Landscape
3.1 Comparative analysis
3.1.1 Market Share Analysis- Top Companies
3.1.2 Product Benchmarking- Top Companies
3.1.3 Top 5 Financials Analysis
3.1.4 Patent Analysis- Top Companies
3.1.5 Pricing Analysis
4. Geogrid Market - Market Forces
4.1 Market Drivers
4.2 Market Constraints
4.3 Market Opportunities
4.4 Porters five force model
4.4.1 Bargaining power of suppliers
4.4.2 Bargaining powers of customers
4.4.3 Threat of new entrants
4.4.4 Rivalry among existing players
4.4.5 Threat of substitutes
5. Geogrid Market - Strategic Analysis
5.1 Value Chain Analysis
5.2 Opportunity Analysis
5.3 Product Life Cycle
5.4 Supplier and Distributor
6. Geogrid Market - By Manufacturing Process (Market Size -$Billion)
6.1 Extruded Geogrid
6.2 Woven Geogrid
6.3 Bonded Geogrid
7. Geogrid Market - By Type (Market Size -$Billion)
7.1 Uniaxial
7.2 Biaxial
7.3 Others
8. Geogrid Market - By Material Type (Market Size -$Billion)
8.1 PVC
8.2 Polyester
8.3 Polyethylene
8.4 Polypropylene
8.5 Others
9. Geogrid Market - By Application (Market Size - $Billion)
9.1 Retaining Walls
9.2 Roads and Highways
9.3 Railways
9.4 Soil Reinforcement
9.5 Others
10. Geogrid Market - By Geography (Market Size - $Billion)
10.1 North America
10.1.1 U.S
10.1.2 Canada
10.1.3 Mexico
10.2 South America
10.2.1 Brazil
10.2.2 Argentina
10.2.3 Colombia
10.2.4 Chile
10.2.5 Rest of South America
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Netherland
10.3.6 Spain
10.3.7 Russia
10.3.8 Belgium
10.3.9 Rest of Europe
10.4 Asia-Pacific
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 South Korea
10.4.5 Australia and New Zealand
10.4.6 Rest of APAC
10.5 Rest of the World
10.5.1 Middle East Saudi Arabia U.A.E Israel Rest of the Middle East
10.5.2 Africa South Africa Nigeria Rest of Africa
11. Geogrid Market - Entropy
11.1 New Product Launches
11.2 M&As, Collaborations, JVs and Partnerships
12. Geogrid Market Company Analysis
12.1 Market Share, Company Revenue, Products, M&A, Developments
12.2 Company 1
12.3 Company 2
12.4 Company 3
12.5 Company 4
12.6 Company 5
12.7 Company 6
12.8 Company 7
12.9 Company 8
12.10 Company 9
12.11 Company 10 and more