Widespread urbanization, beautification across national highways, and development of roads have positively impacted the road construction sector. Manufacturers involved in the construction of roads have been demanding materials that aid in achieving excellence in road construction. These developments have translated into high-value business outcomes for the global geogrids market. Geogrids aid in reducing construction costs and attaining higher resistance and durability, while fulfilling sustainable development goals. Moreover, they are used in other areas such as soil stabilization, construction of bridges, and civil engineering projects. Seeing the economic potential of geogrids, several industry leaders are anticipated to engage in robust partnerships and R&D to bolster the supply of geogrids across international markets. In the future, the collective force of these trends is poised to result in tremendous expansion of the geogrids market.
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Rise in Infrastructure Development Projects to Open Fresh Revenue Streams in Geogrids Market
Today, economies across the world are aggressively pursuing the agendas of building smart cities, nationwide urbanization, and embracing sustainable construction practices. These trends have remarkably surged the demand for road construction, and subsequently, various materials utilized in road construction. Against this backdrop, the global geogrids market has registered promising business prospects, inviting geogrids manufacturers to increase their investments in the geogrids market. Essentially, geogrids facilitate the transfer of forces to a large area of soil. Due to their high tensile strength, geogrids help to reduce rutting damage, enhance distribution of traffic loads, and reduce maintenance costs. These favorable factors are expected to augment the demand for geogrids in road construction projects, creating a steady inflow of revenue across the geogrids market.
Superior Performance, Application in Multiple Areas to Soar Demand for Biaxial Geogrids
On the basis of type, the global geogrids market is segmented into uniaxial, biaxial, and triaxial geogrids. Among these, the demand for biaxial geogrids is projected to increase over the assessment period. The application of biaxial geogrids is more pronounced in the construction of roads. This is owing to benefits of biaxial geogrids such as higher tensile strength, superior load-bearing capacity, optimal junction strength, greater stretch resistance, higher durability, and better resistance to chemical damages. In addition to road construction, biaxial geogrids are essential in soil stabilization, sub-base reinforcement, foundation engineering, and in the construction of flyovers. Consequently, by the end of forecast period, biaxial geogrids are set to dominate the global geogrids market in terms of market volume.
High Investments in Road Construction Position Asia Pacific as Key Emerging Player
The Asia Pacific is poised to emerge as a highly promising region in the global geogrids market. In this region, both developed and emerging economies such as India, China, Japan, and Singapore are predicted to significantly contribute toward the expansion of its geogrids market. During the study period, steady pursuit of road construction projects, government policies in favor of smart city development, and increase in strategic business partnerships are poised to become the key growth enablers in APAC’s geogrids market. In the foreseeable future, robust expansion of APAC’s geogrids market is set to positively influence revenue generation in the global geogrids market.
Major Market Players
Some of the prominent market players in the global geogrids market include Officine Maccaferri Spa, TENAX SPA, Tensar International Corporation, Hueskar Inc., Colbond Inc., Techfab India, TenCate Geosynthetics Asia Sdn Bhd., and NAUE GmbH & Co. Kg.
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The global geogrid market is set to gain momentum from the increasing demand for sustainable buildings.
This information is given by Fortune Business Insights™in a new report, titled, “Geogrid Market Size, Share & Industry Analysis, By Material (HDPE, Polypropylene, Polyester), By Product (Uniaxial, Biaxial, Multiaxial), By Application (Road Construction, Railroad, Soil Reinforcement, Others), and Geography Forecast, 2020-2027.” The report further states that the geogrid market size was USD 6.15 billion in 2019 and is projected to reach USD 10.66 billion by 2027, exhibiting a CAGR of 7.2% during the forecast period.This Report Answers the Following Questions:How will the organizations surge sales of geogrids?Which region would lead the market in the near future?What are the opportunities and challenges in the global market?Which companies are set to lead the market in the coming years?Drivers & Restraints-Possession of Numerous Beneficial Properties to Surge Demand for GeogridsThe rising expansion of the construction industry, as well as the increasing infrastructural development activities worldwide would bolster the geogrid market growth in the near future.
The product has several beneficial properties, such as environmental safety, easy handling, and high tensile strength.
Besides, upcoming infrastructure projects, rising population base, and rapid urbanization would accelerate growth.
However, the lack of skilledengineers and laborers to install geogrids in foundations or infrastructures may obstruct growth.Segment-Soil Reinforcement Segment Generated 13.82% in Terms of Share in 2019Based on application, the soil reinforcement segment earned 13.82% in terms ofgeogrid market share in 2019.
These geogridsolutions are mainly used to reinforce and stabilize weak soils.
According to IMARC Group latest report titled” Geogrid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market exhibited moderate growth during 2015-2020.
Geogrids represent planar polymeric structures manufactured with polyethylene (PET), polypropylene (PP), high-density polyethylene (HDPE), aramid (AR), etc.
They consist of regular open networks of integrally connected tensile elements generally linked by extrusion, bonding, interlacing, etc.
Besides this, these structures provide a cost-effective solution for high resistance against chemicals, ultraviolet (UV) radiation, mechanical damage, biological degradation, etc.
As a result, geogrids are used in filtration, reinforcement functions, stabilization, etc., commonly for airport runways, haul roads, parking lots, retaining walls, embankments on soft soils, etc.Get a sample copy of this Report: https://www.imarcgroup.com/geogrid-market/requestsampleAs the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.Market Trends:The expanding construction industry, along with the rising construction at sites with unfavorable soil conditions, is primarily driving the global geogrid market.
Furthermore, due to increasing environmental concerns, the governing bodies across several countries are collaborating with non-governmental organizations (NGOs) to introduce awareness campaigns to prevent soil erosion.
The Global Geogrids Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.
The report classifies the market into different segments.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Browse the complete Global Geogrids Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 @ https://www.decisiondatabases.com/ip/944-geogrid-market-report The report also covers the complete competitive landscape of the global Geogrids market with company profiles of key players such as: Maccaferri(Italy)Tensar(US)NAUE Secugrid(Germany)Tencate(Netherlands)GEO Fabrics(Australia)Huesker(Germany)TechFab(India)TENAX(Italy)GSE(US)Strata Geosystem(US)Nilex(Canada)Atarfil(Spain)TITAN(Canada)Synteen(US)Polyfabrics(Australia)Wrekin(UK)Bonar(UK)ACE(US)The detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT: By TypeUniaxial Plastic GeogridBiaxial Plastic GeogridTriaxial GeogridFiberglass GeogridPolyester GeogridSteel-plastic Composite GeogridBy ApplicationHighway and RailwayBridgeSlope ProtectionOthersBy Geography:North America (NA) – US, Canada, and MexicoEurope (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of EuropeAsia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APACLatin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin AmericaMiddle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South AfricaDownload Free Sample Report of Global Geogrids Market @ https://www.decisiondatabases.com/contact/download-sample-944The Global Geogrids Market has been exhibited in detail in the following chapters –Chapter 1 Geogrids Market Preface Chapter 2 Executive SummaryChapter 3 Geogrids Industry AnalysisChapter 4 Geogrids Market Value Chain AnalysisChapter 5 Geogrids Market Analysis By TypeChapter 6 Geogrids Market Analysis By ApplicationChapter 7 Geogrids Market Analysis By GeographyChapter 8 Competitive Landscape Of Geogrids CompaniesChapter 9 Company Profiles Of Geogrids IndustryPurchase the complete Global Geogrids Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-944Other Reports by DecisionDatabases.com:Global Steel-plastic Composite Geogrid Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027Global Polyester Geogrid Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027Global Uniaxial Tensile Plastic Geogrid Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
