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.
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.
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.
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:
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