Market Definition:
GeoGrids are geo-synthetic materials made by interconnecting grids that are used in the construction industry as a reinforcing material. Its application ranges from soil fortification, reinforcement of retaining walls, and various other new application areas, such as mining, etc., flourishing in recent years. They are manufactured either by weaving polymeric fibers together, or by punching holes in sheets, followed by stretching in different directions. It possesses high tensile strength with the ability to distribute load across a large area which increases their suitability for infrastructure activities.
Market Insights:
The Global GeoGrid Market is expecting to propagate at around 8% CAGR in the forecast period of 2022-27. The growth of the market attributes primarily to the burgeoning government investments in building infrastructure, such as roads, highways, bridges, & ports, among others. With the application of geogrid, the structure or the area where it is applied is improved since it provides better surface quality & safety of roads, eliminates the need for over-excavation, disposal of poor quality soil, and involves low maintenance. The rapid infrastructural developments for strengthening road networks have stimulated the demand for geogrids across different regions, including Asia-Pacific & Europe in recent years.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 8% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, The UK, France, Italy, Spain, Rest of Europe | |
| Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia Pacific | |
| South America: Brazil, Rest of South America | |
| Middle East & Africa: Saudi Arabia, UAE, Israel, Egypt, Rest of Middle East & Africa | |
| Key Companies Profiled | Ace Geosynthetics, Glen Raven Inc., Huesker Synthetic GmbH, Low & Bonar PLC, Maccaferri Group- SECI SPA, Naue GmbH & Co. CG, Tenax SPA, Koninklijke ten Cate BV, Tensar Corporation, Wrekin Products Ltd., Asahi-Kasei Geotech, Diamond Grid, GSE Environemental, Machine-TST, Low & Bonar, Maruti Rub-Plast, CTM Geosynthetics, Carthage Mills |
| Unit Denominations | USD Million/Billion |
Furthermore, with the growing demand for geogrids, companies engaged in geogrid businesses are rapidly enhancing their capabilities by investing substantially in research & development, introducing environmentally sustainable solutions, etc., to capture the emerging opportunities in the US, Germany, France, China, Japan, etc. For instance:
However, the widening awareness gap about the geogrid has impeded the growth of its global market. A significant portion of potential end-users is unaware of geogrids & it's benefits like enriched performance, durability, and better productivity of infrastructure assets. Moreover, the lack of awareness campaigns, workshops, etc., for promoting the use of geogrids has also posed a significant growth challenge to its global market.
Disruption in Raw Materials Supply due to the Covid-19 Pandemic had a Transitory Impact on the Global GeoGrid Market
The global imposition of lockdown measures to curb the spread of coronavirus led to a disruption in the supply chain of raw materials, such as high-density polyethylene, polyester, & coatings, among others, required for manufacturing geogrids, entwined with price fluctuations. Since the pandemic, the prices of crude oil have rapidly soared, which has led to turbulence in the availability of raw materials.
As a result, the prices of geogrids significantly hiked due to limited stock available in the market. Hence, the Covid-19 pandemic resulted in increased costs of geogrids. Additionally, the shortage of raw materials led to the discontinuation of geogrids production globally.
However, with the gradual relaxation in mobility restrictions worldwide and the resumption of manufacturing units, the demand for geogrids experienced a steady revival in early 2021. Currently, the market is on the trajectory of recapturing its usual growth pace & expects to flourish in the years to come.
Market Segmentation
Based on the Type:
Of them all, Biaxial geogrids accounted for a noteworthy share in the Global GeoGrid Market during 2017-20. This growth attributes principally to their superior junction strength & optimum load-bearing properties. Moreover, they provide high strength in both longitudinal & transverse directions, due to which they have been used widely during the construction of structures like highways, flyovers, bridges, & landfills. Due to these aspects, biaxial geogrids have been observing an inclining demand trend globally for a few years. For instance:
Furthermore, biaxial geogrids assist in increasing the roadbed thickness up to 3-5 times, compared to uniaxial geogrids. As a result, their deployment is relatively higher in pavement construction & soil stabilization projects across North America, Asia-Pacific, etc. For instance:
Based on Manufacturing Method:
Here, the demand for Knitted/Woven Geogrids experienced modest growth in the previous few years. These geogrids are produced from polypropylene strips that can withstand high amounts of tension by interlocking fabric strips, which provide strength & stability for the project where geotextiles are required.
Also, geogrids produced using this method are coated with either bituminous material or polyvinyl chloride or latex to give it high tenacity. This method is preferred widely by the end-users due to its beneficial properties, and it has gained notable attention in the global market. However, the welded method, developed by the company, Naue (Secugrid), has also gained popularity in recent years.
Based on Application:
Here, Roads & Highways accounted for a sizeable share in the market during 2017-2020. Rapid infrastructural developments to strengthen road networks have stimulated the demand for geogrid. Moreover, the increasing emphasis of governments across the Middle East, Europe, & Asia-Pacific on building road networks by launching various infrastructural development plans has catalyzed the demand for geogrids in the last couple of years. Numerous infrastructural projects in emerging economies like India, China, etc., would also provide massive opportunities for GeoGrid installations to increase the longevity of roads.
Regional Landscape
Based on the Geography, the Global GeoGrid market expands across:
Of all regions worldwide, North America accumulated the highest share in the Geogrid Market during the historical period. North America has been investing heavily towards building infrastructure, which has created a rub-off effect on the regional demand for geogrids in recent years. The cost-saving and other crucial features, including lightweight, easy handling, high-temperature stability, etc., of geogrids have contributed to their burgeoning use in enhancing the infrastructure capabilities. The various up-gradation activities in the US, upcoming transportation projects in Mexico, & railway projects in Canada have paved robust grounds for the geogrid market across North America in recent years. In addition, high awareness levels about geogrids among the North American end-users have also propagated the regional market growth to a greater extent.
Market Dynamics:
Key Driver: Mounting Infrastructure Construction Buzz to Steer the Market Growth
The rise in infrastructure developments across countries like China, India, the UK, Canada, etc., has led to the escalating demand for geogrids worldwide. In addition to these, it also benefits other industries, including heavy vehicles & equipment, railways, etc., by enhancing the performance of earth-moving vehicles and confrontation against severe weather situations, such as heavy rains.
The expanding size of the global construction industry focusing on the rehabilitation of existing roads & bridges is expected to complement the demand for geogrids in the coming years. The engineering & maintenance challenges, including weathering effects, poor drainage, aging of road surfaces, increased traffic, etc., due to the heavyweight of vehicles causing cracks on roads & highways, have shifted focus toward a more sustainable alternative, such as geogrids. Hence, these aspects are projected to fuel the growth of the Global GeoGrid Market during 2022-27.
Growth Opportunity: Surge in Railway Development
In railway tracks, geogrids help stabilize the substructure on soft soil, reinforce soil walls & steep stones, asphalt reinforcement, spread loads over piles, etc. Hence, they play a crucial role in reducing the maintenance costs associated with tracks while preventing structural deficiencies as the deployment of GeoGrid ensures the structural integrity of the base aggregate and the capacity of the railway. Consequently, the rising railway development & up-gradation projects in several countries worldwide would lead to a notable demand for geogrids in the upcoming years, which would act as an area of lucrative growth opportunity for the global market. For instance:
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. The Global GeoGrid Market is projected to grow at a CAGR of around 8% during 2022-27.
A. Biaxial GeoGrids are anticipated to emerge as an area of remunerative opportunities for the leading players in the Global GeoGrid Market during 2022-27.
A. The rehabilitation projects of roads & bridges in emerging economies are anticipated to remain the key driver for the Global GeoGrid Market during 2022-27.
A. With the complete revitalization of construction activities worldwide since 2021, the Global GeoGrid Market is expecting considerable growth during 2022-27.
