The global geogrid market is estimated to grow from USD 799.28 million in 2022 to USD 1435.26 million by 2028 at a CAGR of 10.05% during the forecast period. The growing use of geogrids in emerging economies and the increased cost savings achieved in road construction and maintenance activities with their use are the major factors anticipated to drive the global geogrid market during the forecast period.
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The market is segmented as uniaxial geogrids, biaxial geogrids, and triaxial geogrids. The biaxial geogrid segment captured the largest share of the market in 2021 and is estimated to maintain its dominance during the forecast period. This growth is owing to the exceptional junction strength and optimum load-bearing properties of the biaxial geogrid. Higher demand for geogrids for road construction is mostly bolstering the market for biaxial geogrids globally, as they are employed in the construction of highways, flyovers, and bridges.
By Application Type
The market is segmented as road construction, railroad stabilization, soil reinforcement, and others. Road construction is estimated to be the largest application type segment of the geogrid market. Geogrids offer improved road surface quality and safety of roads, eliminating the need for over-excavation and disposal of poor-quality soil, high performance of earth-moving vehicles, low maintenance requirements, and resistance against inclement weather conditions such as heavy rains to the structure or area. Further, their use is environmentally safe, as it aids in reducing carbon emissions.
North America is estimated to become the largest market for geogrids during the forecast period with countries such as the U.S. expected to modernize and expand its prevalent infrastructural facilities in the coming five years. On the other hand, the market in Asia-Pacific is estimated to register the highest growth during the forecast period, in terms of value and volume. Europe is also expected to offer substantial growth opportunities during the forecast period.
Market Scope & segmentation
Geogrid is mainly a geosynthetic material that is used in the reinforcement of soil and other similar elements. These are known to have higher strength in comparison to soil.
Geogrid is of different types such as uniaxial geogrids, biaxial geogrids, and triaxial geogrids. Road construction, railroad stabilization, soil reinforcement, and others are some of the application areas of geogrids.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Some of the major players in the global geogrid market are-
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conduct more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.