According to IMARC Group latest report titled “Geogrid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on geogrid market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global geogrid market reached a value of US$ 1,017 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,688 Million by 2027, exhibiting a CAGR of 9.05% during 2022-2027.
Geogrids refer to synthetic products made from or including polymeric materials that are used to solve civil and geotechnical engineering problems in or on the ground. They are mainly used to reinforce soils and similar materials. They also enhance the functions of conventional materials to make construction more efficient, cost-effective, and reliable. In line with this, geogrids exhibit high tensile strength, high-temperature stability, and vital longevity of construction. As a result, they are widely used for various applications, such as road construction, railroad stabilization, and soil reinforcement.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global market is majorly driven by the growing infrastructure development activities across the developed and developing nations. Besides this, the widespread adoption of the product in railway development activities due to reduced time, maintenance costs, and thickness of rail tracks is providing a boost to the market growth. Moreover, the development of sustainable products for applications in the construction industry and extensive research and development (R&D) activities are creating a positive outlook for the market.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market 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
- Wrekin Products Ltd
Geogrid Market Segmentation:
Our report has categorized the market based on region, type and application.
Breakup by Type:
- Uniaxial Geogrid
- Biaxial Geogrid
- Triaxial Geogrid
Breakup by Application:
- Road Industry
- Railroad Stabilization
- Soil Reinforcement
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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