Geogrid Market Analysis | 2023-2028

Geogrid Market Analysis | 2023-2028

Geogrid Market Analysis | 2023-2028
Report code - SRAM289 Delivery - 2 Weeks
Geogrid Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: See more...

Market Insights

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.

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What is geogrid?

Geogrid is a geosynthetic material used in civil engineering and construction for soil reinforcement and stabilization purposes. It is a type of geosynthetic product that typically consists of a grid or mesh structure made from various materials, such as polyethylene, polyester, or polypropylene.

Geogrid Market Report Overview

Market Size in 2028

USD 1435.26 Million

Market Size in 2022

USD 799.28 Million

CAGR(2022-2028)

10.05%

Base Year of Study

2022

Trend Period

2017-2021

Forecast Period

2023-2028

Market Dynamics

Expansion of the Construction Industry to Aid Market Growth

The construction industry in India is experiencing growth due to its rapid urbanization, growing population, and infrastructure projects. India's infrastructure services include dams, bridges, roads, and power construction. The government plans to construct 65,000 kilometers of national highways for USD 741.51 billion by 2022, with India having the second-largest road network globally. The construction sector is thriving, with sustainable growth mainly in home improvement projects and private development of single-family homes. The U.S. Construction Market is the largest economic contributor, with construction spending reaching approximately USD 1.35 trillion in June 2020. The expanding expansion of metropolitan cities and the demand for commercial construction projects may further boost growth. The engineering & construction (E&C) industry is poised to benefit from U.S. infrastructure and transportation upgrade initiatives and smart city mega-projects. Grids are used to construct reinforced bridge abutments, retaining walls, foundations, roadway bases, and steep slopes. Companies like Tensar focus on saving project costs and time and lowering carbon emissions. TriAx geogrid, for example, reduces unbound aggregate layer thickness, construction sites, long-term costs, and excavation.

Key Players

Some of the top players in the global geogrid market are-

  • ACE Geosynthetics
  • Asahi-Kasei Geotech
  • BOSTD Geosynthetics Qingdao Ltd.
  • Carthage Mills
  • CTM Geosynthetics
  • GSE Environmental, Inc.
  • HUESKER inc.
  • NAUE GmbH & Co. KG
  • Officine Maccaferri SpA
  • Propex Operating Company.

Segment Analysis

By Type

The market is segmented as uniaxial geogrids, biaxial geogrids, and triaxial geogrids. The biaxial geogrid segment captured the largest share of the market in 2022 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.    

By Region

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.

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Segmentation

This report studies the market covering 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. 

The geogrid market is segmented into the following categories. 

Geogrid Market Size, Share & Forecast, by Type:

  • Uniaxial Geogrids 
  • Biaxial Geogrids 
  • Triaxial Geogrids 

Geogrid Market Size, Share & Forecast, by Manufacturing Method Type:

  • Extrusion
  • Knitted/Woven 
  • Bonded/Welded 

Geogrid Market Size, Share & Forecast, by Application Type:

  • Road Construction 
  • Railroad Stabilization 
  • Soil Reinforcement 
  • Others 

Geogrid Market Size, Share & Forecast, by Region:

  • North America (Country Analysis: the USA, Canada, and Mexico) 
  • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
  • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
  • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and results from a 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 books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted 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 qualitative and quantitative insights.

Report Features

This report provides market intelligence most totally. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

What Deliverables Will You Get in this Report?

Key questions this report answers

Relevant contents in the report

How big is the sales opportunity?

In-depth analysis of the Geogrid Market

How lucrative is the future?

The market forecast and trend data and emerging trends

Which regions offer the best sales opportunities?

Global, regional, and country-level historical data and forecasts

Which are the most attractive market segments?

Market segment analysis and Forecast

Which are the top players and their market positioning?

Competitive landscape analysis, Market share analysis

How complex is the business environment?

Porter’s five forces analysis, PEST analysis, Life cycle analysis

What are the factors affecting the market?

Drivers & challenges

Will I get the information on my specific requirements?

10% free customization

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to 3 players)
  • SWOT analysis of key players (up to 3 players)

Market Segmentation

  • Current market segmentation of any one of the types by application type.  

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

Frequently Asked Questions (FAQs)

Geogrid is a geosynthetic material used in civil engineering and construction for soil reinforcement and stabilization purposes. It is a type of geosynthetic product that typically consists of a grid or mesh structure made from various materials, such as polyethylene, polyester, or polypropylene.

The market is estimated to grow at a CAGR of 10.05% during the forecast period.

The global geogrid market is estimated to grow from USD 799.28 million in 2022 to USD 1435.26 million by 2028.

Some of the major players in the geogrid market are ACE Geosynthetics, Asahi-Kasei Geotech, BOSTD Geosynthetics Qingdao Ltd., Carthage Mills, CTM Geosynthetics, GSE Environmental, Inc., HUESKER inc., NAUE GmbH & Co. KG, Officine Maccaferri SpA, and Propex Operating Company.

The biaxial geogrid segment is expected to remain dominant in the market in the coming years.

Road construction is expected to be the largest segment in the market during the next five years.

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