“The increased demand for refined products and cleaner fuel requirements are projected to drive the geogrid market.”
The geogrid market is projected to reach USD 1099.2 million by 2022, at a CAGR of 9.2% from 2017 to 2022. One of the most significant factors driving the growth of the geogrid market is the increased demand for geogrids in infrastructural activities. However, quality control is one of the major issues in the developing economies, which include standards for testing facilities and technology and the awareness about the product is not widespread in the developing economies, and also the construction standards do not incorporate geogrids as a basic construction material. In addition, lack of autonomous and competent regulatory authority in line with international authorities and fabric associations restrict the market growth in these countries.
“The biaxial geogrids segment is the largest type segment of the geogrid market.”
Among all types, biaxial geogrids is estimated to account for the largest share of the geogrid market in 2017, in terms of both value and volume. These geogrids are generally used to stabilize and reinforce soils in the construction of roads, parking lots, and building foundations. Biaxial geogrids are perfectly suitable for conditions such as weak subgrades, contaminated soils, heavy loads, high granular costs, and shallow buried utilities. Greater demand from the road industry is basically driving the market for biaxial geogrids at a global level, as they are used in the construction of highways, flyovers, and bridges.
“The rising demand for geogrids from Asia Pacific is a key factor driving the geogrid market.”
The geogrid market in Asia Pacific is projected to grow at the highest CAGR during the forecast period, in terms of both value and volume. China and India are the key markets of geogrids in the region. The increased demand for geogrids in infrastructural activities is projected to drive the geogrid market in the region.
The break-up of primary interviews is given below.
• By Company Type: Tier 1 – 50%, Tier 2 – 30%, and Others – 20%
• By Designation: C level – 10%, Director level – 30%, and Others – 60%
• By Region: North America – 30%, Asia Pacific – 30%, Europe – 20%, South America – 10%, and the Middle East & Africa – 10%
The key companies profiled in this market research report include Tensar (U.S.), Tencate (Netherlands), Huesker (Germany), Maccaferri (Italy), Naue (Germany), Pietrucha (Poland), TMP GEosynthetics (China), Wrekin Products (U.K.), Thrace (Greece), Carthage Mills (U.S.), and BOSTD Geosynthetics Qingdao (China).
The geogrid market has been segmented on the basis of type, application, manufacturing method, and region. This report covers the geogrid market, in terms of value and volume, and forecasts its market size till 2022. The report includes the market segmentation based on type (uniaxial, biaxial, and triaxial), application (Road Industry, Railroad Stabilization, and Soil Reinforcement), manufacturing method (extruded, knitted/woven, and bonded), and region (Asia Pacific, Europe, North America, the Middle East & Africa, and Central & South America). Key countries considered for the market analysis in these regions include China, India, Japan, South Korea, Indonesia, Australia & New Zealand, U.S., U.K., Canada, Mexico, Germany, Spain, Italy, Russia, U.K., France, Norway, Sweden, Denmark, Brazil, Argentina, Colombia, Chile Saudi Arabia, the UAE, Egypt, and South Africa. The report also provides company profiles and competitive strategies adopted by the key players of the geogrid market.
REASONS TO BUY THE REPORT:
The report will help market leaders as well as new entrants in this market in the following ways:
• This report segments the geogrid market and provides the closest approximations of revenue numbers for the overall market and its subsegments across different regions.
• This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
• This report helps stakeholders identify competitors and gain insights to improve their position in the market. The competitive landscape section includes new product developments, expansions, agreements, acquisitions, and joint ventures.