DUBLIN, November 20, 2017 /PRNewswire/ --
The "Geogrid Market by Type (Uniaxial, Biaxial, and Triaxial), Application (Road construction, Railroad stabilization, and Soil Reinforcement), Manufacturing Method, and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The geogrid market is projected to reach USD 1099.2 Million by 2022, at a CAGR of 9.2% from 2017 to 2022
The growth of this market can be attributed to the rising use of geogrids in the emerging economies. In addition, increased cost savings achieved in road construction and maintenance activities with the use of geogrids is also anticipated to drive the geogrid market.
Geogrids are used for various applications such as road construction, railroad stabilization, and soil reinforcement. Road construction is the largest type segment of the geogrid market. The use of geogrids provides the structure or area with improved road surface quality and safety of roads, low maintenance requirements, eliminated need of over-excavation and disposal of poor quality soil, high performance of earth moving vehicles, and resistance against bad weather conditions such as heavy rains. In addition, the use of geogrids is environmentally safe, as it helps in reducing carbon emissions.
Based on type, the biaxial geogrid segment accounted for the largest share of the geogrid market in 2016. This growth can be attributed to the superior junction strength and optimum load bearing properties of the biaxial geogrid. Higher demand for geogrids for road construction is basically driving the market of biaxial geogrids at a worldwide level, as they are used in the construction of highways, flyovers, and bridges.
Asia Pacific, North America, Europe, Central & South America, and the Middle East & Africa are the key regions considered for the market analysis in the report. North America is expected to become the largest market in 2022 with the countries such as the U.S. expected to upgrade and expand its existing infrastructure facilities during the forecast period. The market in Asia Pacific is projected to grow at the highest CAGR between 2017 and 2022, in terms of value and volume. The increasing demand for geogrids in infrastructural activities in the region is projected to boost the geogrid market growth.
Lack of awareness of geogrids acts as a key challenge to the growth of geogrid market. The construction standards in the emerging economies do not incorporate geogrids as a basic construction material. In addition, improper quality control in the developing countries affect the overall geogrid market.
Market Dynamics
Drivers
- Increased Cost Savings in Road Construction and Maintenance
- High Resistance Against Load Deformation
Restraints
- Lack of Proper Quality Control in Developing Countries
Opportunities
- Increasing Infrastructural Activities in Emerging Countries
- Inclination Toward Better Construction Technology
Challenges
- Lack of Skilled Workforce in Developing Countries
- Lack of R&D and Technological Advancements in Geogrids
Companies Mentioned
- ACE Geosynthetics
- Asahi-Kasei Geotech
- BOSTD Geosynthetics Qingdao
- CTM Geosynthetics
- Carthage Mills
- Diamond Grid
- GSE Environmental
- HUESKER
- Low & Bonar
- Maccaferri
- Machina-Tst
- Maruti Rub-Plast
- NAUE
- Other Companies
- Pietrucha
- Propex Operating Company
- Strata System
- TMP Geosynthetics
- TechFab
- Ten Cate
- Tenax
- Tensar
- Thrace
- Titan Environmental Containment
- Viking Containment
- Wrekin Products
For more information about this report visit https://www.researchandmarkets.com/research/w2zktv/geogrid_market_by
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