Geogrid Market Insights Shared in Detailed Report
The geogrid market was valued at US$ 931.49 million in 2019 and is projected to reach US$ 2,079.02 million by 2028; it is expected to grow at a CAGR of 9.4% from 2020 to 2028. Geogrid is a geosynthetic material formed by combining the intersecting ribs and it is used to stabilize a terrain. Geogrids are mainly made up of polymers such as polyester, high-density polyethylene, and polypropylene. Geogrids are used as a base reinforcement to retain subsoils below roads and to reinforce retaining walls of a structure. The physical properties of geogrid such as minimal elongation with high tensile modulus and high tensile strength, make it a material of choice to be used as a reinforcement material. However, the lack of adequate quality control in developing countries and volatility in pricing of raw materials may restrict the growth of the geogrid market. On the other hand, the inclination toward better construction technology is likely to showcase growth opportunities for the geogrid market during the forecast period.
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Geogrid is a geosynthetic material that is formed by combining the intersecting ribs and it is used to stabilize terrain. Geogrids are mainly made up of polymers such as polyester, high-density polyethylene, and polypropylene. Geogrids are used as a base reinforcement to retain subsoils below roads and to reinforce retaining walls of a structure. The physical properties of geogrid such as minimal elongation with high tensile modulus and high tensile strength make it a material of choice to be used as a reinforcement material.
The report includes the segmentation of the global geogrid market as follows:
Global Geogrid Market, by Type
· Uniaxial Geogrid
· Biaxial Geogrid
· Triaxial Geogrid
Geogrid Market, by Application
· Road Construction
· Railroad Stabilization
· Soil Reinforcement
Geogrid Market, by Manufacturing Method
· Extruded
· Knitted/Woven
· Bonded
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Some of the major key players operating in the global geogrid market include Tensar, Solmax, Carthage Mills, Huesker Synthetic GmBH, Naue GmBH And Co. Kg, Sia Pietrucha Sp. Z O.O, TMP Geosynthetics, BPM Geosynthetics, Bostd Geosynthetics Qingdao Ltd, Strata Systems, Inc. and Wrekin Products among others. The major players in the geogrid market are focused on strategies such as mergers and acquisitions and research and development to increase the geographical presence and consumer base globally. For instance, 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.
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