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Asia Pacific and North America are the key markets of geogrids

Geogrids are widely used in road construction, and railroad stabilization. Geogrids allow engineers and designers to build structures at places with loose soil conditions. This report segments the geogrid market on the basis of type, manufacturing method, and application, in terms of value and volume.

Increasing infrastructural activities in the emerging countries and cost savings in road construction and maintenance are the key factors projected to drive the geogrid market.

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Geogrids are used for applications such as road construction, railroad stabilization, soil reinforcement, rock fall protection, erosion control, and basal reinforcement. The geogrid market is projected to reach USD 1099.2 million by 2022, at a CAGR of 9.2% from 2017 to 2022. Asia Pacific and North America are the key markets of geogrids. The increasing demand for refined products and stringent environmental regulations are the major factors driving the geogrid market.  

Based on type, the biaxial geogrids segment of the geogrid market is projected to grow at the highest CAGR between 2017 and 2022, in terms of volume. This growth can be attributed to the rising demand for biaxial geogrids for stabilization and reinforcement purposes. Other factors driving the biaxial geogrids segment include its high demand for road construction.

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Based on application, the railroad stabilization of the geogrid market is projected to grow at the highest CAGR between 2017 and 2022, in terms of volume. This growth can be attributed to the increased rail infrastructure activities worldwide. The use of geogrids in for road construction has gained widespread acceptance around the world, but the usage of geogrids in the railroad industry is still growing, especially in the emerging economies.

The geogrid market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. This growth can be attributed to the increasing infrastructural activities in the emerging countries and cost reduction in road construction and maintenance, worldwide. Geogrids are widely used in road construction and railroad stabilization. Tensar (U.S.), BOSTD Geosynthetics Qingdao (China), and TMP Geosynthetics (China) are the major manufacturers of geogrids in this region. The ongoing global recovery is further projected to influence the demand for geogrids.

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The key players of the geogrid market include Tensar (U.S.), Tencate (Netherlands), Maccaferri (Italy), Huesker (Germany), Naue (Germany), Pietrucha (Poland), TMP Geosynthetics (China), Wrekin Products (U.K.), Thrace (Greece), Carthage Mills (U.S.), BOSTD Geosynthetics Qingdao (China).

Tensar (U.S.), one of the key players of the geogrid market, is involved in the development and manufacturing of geogrids. The company has adopted expansion as a key growth strategy to enhance its market share and widen its customer base.

Huesker (Germany) is involved in the development and manufacturing of geosynthetics, agricultural, and industrial textiles for the construction industry. In 2017, the company has established Australian subsidiary of HUESKER.

Reference:
https://www.marketsandmarkets.com/PressReleases/geogrids.asp?utm_source=Blog%2FML
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