Geogrid Market is expected to reach US$ 2,079.02 million by 2028

by Sameer Joshi or 30-Apr-2021
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Report : Geogrid Market Forecast to 2028 - 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)

The scope of our 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 was valued at US$ 931.49 million in 2019 and 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.  Geogrid is a geosynthetic material formed by combining the intersecting ribs and it is used to stabilize a 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. However, the lack of adequate quality control in developing countries and volatility in pricing of raw materials may restrict the growth of the geogrid market. On the other hand, the inclination toward better construction technology is likely to showcase growth opportunities for the geogrid market during the forecast period.
 
Based on application, the global geogrid market is segmented into road construction, railroad stabilization, and soil reinforcement. In 2019, the soil reinforcement segment held the largest share of the global geogrid market. Geogrids are used in the base applications to reinforce and stabilize the weak soils and to ensure necessary soil stability. When the granular material is compacted over the geogrids, they partially penetrate through and projects through the apertures which basically creates an interlocking action between the particles and the grid. This mechanical interlock enables the grid to resist horizontal shear, which is from the fill, thereby helping in mobilizing the maximum bearing capacity of the soft subsoil. To be effective, the geogrids must be able to maintain the tensile reinforcement load and should be efficient enough to transfer that tensile load into the surrounding soil. The geogrid must be inert to biological degradation, as well as resistant to naturally encountered chemicals, such as alkalis and acids. 
 
The global Geogrid market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. In 2019, Asia Pacific held the largest share of the global geogrid market, followed by North America. The growth of the geogrid market in the Asia Pacific region is mainly attributed to the rising focus of government authorities on infrastructural development in countries like China, Japan, and India. For instance, the growth in infrastructure development projects such as dams, airports, expressways, and national highways in India is expected to drive the geogrid market in the near future.
 
Impact of COVID-19 Pandemic on Geogrid Market
Coronavirus pandemic first began in Wuhan (China) in December 2019, and since then, it has spread across the globe. As of April 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst affected countries in terms of confirmed cases and reported deaths. The coronavirus pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemical & materials industry is one of the major industries suffering serious disruptions, such as supply chain breaks, technology events cancellations, and office shutdowns, as a result of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnership opportunities. All these factors are anticipated to affect the chemical & materials industry in a negative manner, thereby act as restraining factor for the growth of various markets related to this industry in the coming months. The geogrid market is impacted by the pandemic due to shortfall in production along with halt in ongoing infrastructural development and construction projects due to global lockdown. 
 
Global Geogrid Market, by Type
  • Uniaxial Geogrid
  • Biaxial Geogrid
  • Triaxial Geogrid
Geogrid Market, by Application
  • Road Construction
  • Railroad Stabilization
  • Soil Reinforcement
Geogrid Market, by Manufacturing Method
  • Extruded
  • Knitted/Woven
  • Bonded 
Global Geogrid Market, by Geography
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America
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