The geogrid market is anticipated to grow in the forecast period owing to the increasing investment in upgrading the infrastructure development.

NEW YORK, UNITED STATES, March 28, 2022 /EINPresswire.com/ -- The scope of The Insight Partners recent study on the “Geogrid Market to 2027 – COVID-19 Impact and Global Analysis – by Type (Uniaxial Geogrid, Biaxial Geogrid, and Triaxial Geogrid), Application (Road Construction, Railroad Stabilization, and Soil Reinforcement), and Manufacturing Method (Extruded, Knitted/Woven, and Bonded),” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The geogrid market 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.

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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 geogrid market is anticipated to grow in the forecast period owing to the increasing investment in upgrading the infrastructure development, increase in road construction activities in the developing economies such as China, Japan, India, and superior properties associated with geogrid that results in reduction in maintenance cycles & cost. However, the lack of adequate quality control in developing countries and volatility in pricing of raw materials restricts the growth of the geogrid market. On the other hand, the inclination toward better construction technology are likely to showcase growth opportunities for the geogrid market during the forecast period.

The rise in the infrastructural development activities around the world specifically in countries such as the US, China, India, Japan, and other countries have led to an increase in the demand for geogrid. Geogrids are basically flexible structure and is mostly used to reinforce as well as paving the foundation layer which helps in strengthening and expanding the lifespan of the infrastructural work. The demand for geogrids to be used in infrastructural activities has also increased due to the high resistance against physical degradation and loss of rigidity which is due to chemical aggressive environments. The geogrid provides low maintenance requirement for infrastructures as well as better sustainability which will maintain the infrastructural work for a longer period. In the US, the government has planned to increase investment in infrastructure construction, which will basically include roads, ports and bridges, telecommunications, energy & utilities, and water and sewerage, are expected to raise adoption of geogrid in the coming years. The government in countries such as Mexico and UK are investing a lot for the development of rail tracks as well as road transportation which will lead to an increase in demand of geogrids to help in the development of these infrastructural structures.

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Geogrid Market: Competitive Analysis

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.

Geogrid Market by Type

Based on type, the geogrid market is segmented into uniaxial geogrid, biaxial geogrid, and triaxial geogrid. The biaxial geogrid segment captured the largest share in the global geogrid market in 2019 and it is estimated to maintain its dominance during the forecast period. This growth can be attributed to superior junction strength and optimum load-bearing properties. The increasing demand for geogrids in road construction is mainly driving the biaxial geogrids segment of the market across the globe. In addition, they find use in soil stabilization, subbase reinforcement, foundation engineering, flyovers, bridges, and highway construction applications. Their beneficial features such as high tensile stiffness, excellent durability, and stretch resistance may favor the demand for biaxial geogrids during the forecast period.

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