Press release
Geogrid Market Analysis of Rising Business Opportunities with Prominent Investment, Forecast to 2028
The global 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.
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Analysis of the Top Market Players:
1. BPM geosynthetics
2. HUESKER Synthetic GmbH
3. Tensar Corporation
4. NAUE GmbH & Co. KG
5. Carthage Mills, Inc.
6. SOLMAX
7. S i A Pietrucha Sp. z o.o
8. BOSTD Geosynthetics Qingdao Ltd
9. Thrace Group
10. Wrekin Products Ltd
In this report, the market has been segmented on the basis of:
Type (Uniaxial Geogrid, Biaxial Geogrid, and Triaxial Geogrid)
Application (Road Construction, Railroad Stabilization, and Soil Reinforcement)
Manufacturing Method (Extruded, Knitted/Woven, and Bonded)
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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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