[Research Report] 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 aterrain. 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.
In 2019, Asia Pacific contributed to the largest share in the global geogrid market. The growing use of geogrids in the emerging economies such as China and India due to rise in infrastructure investments, development of rail, and increase in road construction & maintenance activities is anticipated to drive the geogrid market in the region. The governments in the region are taking various initiatives to attract investments in industrial development. Economies such as India and China are attracting investors in the long term. For instance, governments of these countries focus on attracting FDIs by taking several initiatives such as signing international bilateral agreements, entering into public/private partnerships, and improving base and logistics and social use infrastructure, and other such initiatives. Thus, several government initiatives for the industrial development provide a huge market opportunity for the expansion of the geogrids market in this region. In addition, the ever-growing development of transportation sector in India, Japan, and China is also favoring the future growth and value of this market. The growing consumer awareness regarding product applications for soil-reinforcement in addition to its eco-friendly nature, will further accelerate market growth.
The COVID-19 pandemic is adversely affecting economies and industries in various countries due to government-imposed lockdowns, travel bans, and business shutdowns. Chemical & materials is one of the major industries suffering serious disruptions such as supply chain breaks, technology event cancellations, and office shutdowns. The shutdown of various plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East & Africa has restricted the global supply chain and negatively impacted the manufacturing activities, delivery schedules, and product sales. Furthermore, various companies have already predicted possible delays in product deliveries and slump in future sales of their products. The travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering the activities in the chemical & materials industry, which is restraining the growth of various markets related to this industry. Many countries are now resuming to normalcy, whereas many are experiencing second wave of the outbreak. In addition, due to vaccination drives, situations are changing now across the globe.
Geographic Overview of Geogrid Market
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Market Insights
Superior Properties Associated with Geogrids
Geogrids have various properties which includes minimal elongation, along with high tensile strength and tensile modulus, which makes them beneficial for soil reinforcement. The use of geogrids to the soil or other geotechnical materials will help create a composite material. Thus, due to the various properties of geogrid, there is a wide range of applications where it has been used. Geogrids are used in various applications such as retaining walls, which are used in foundation soil, pavement construction, energy sector, landfill construction, and many more. The use of geogrids for restraining walls is basically in soil backfills. The ability of holding the soil together will help in stabilizing the retaining wall construction and thus, by using geogrids, the structural integrity of the soil can be increased. It is used in building strong retaining walls for both permanent and temporary solutions. Geogrids are used to stabilize the soil mainly in the shallow foundation. The geogrids interlock with the structural fill, providing a strong foundation, which will improve the stability of the weakest soil. Geogrids can also help in minimizing the effect of erosion and providing permanent protection. In pavement construction, geogrids are used to improve the subgrade as well as reinforce the pavement base. The geogrids are used to fill and increase the load-bearing capacity of the underlying subgrade, which helps in increasing the structural performance of the roadways. Geogrids are also used in the energy sector for subgrade stabilization of embankments. They are also utilized in soft soils, which includes access roads, crane pads, and other Mechanically Stabilized Earth (MSE) structures. Moreover, geogrids are used in landfill construction sites, which includes the likes of perimeter haul roads, retaining walls, reinforced steep slopes, and other such structures. Thus, an increase in use of geogrids in such kind of applications is going to drive the geogrid market across the world.
Type Insights
In terms of type, the global geogrid market is segmented into uniaxial geogrid, biaxial geogrid, and triaxial geogrid. Biaxial geogrid is a type of geogrid which is made from high polymer. Biaxial geogrid consists of high tensile strength, which is in both transverse and longitudinal directions. This type of geogrid is basically made through the process of extruding, punching, sheet forming, and stretching. This type of geogrid basically provides good bearing capacity which can enhance soil structure and prevent soil erosion. It is often used in road construction to prevent the road from reflective and fatigue cracking. Biaxial geogrid is used to improve the long-term durability of the subgrade as well as reduces road maintenance costs. Geogrids also provide support for the construction of access roads, highways, and applications on weak subgrades, which earlier required expensive over-excavating and replacing. Biaxial geogrid has a good resistance to long term degradation, which makes it suitable for various applications such as embankment reinforcement, soil stabilization, slope protection, wall reinforcement, and other permanent load bearing foundation reinforcement. This, in turn, has led to an increased demand for biaxial geogrids. These products are mostly used in subbase reinforcement, soil stabilization, foundation engineering, and highway construction applications.
Application Insights
Based on application, the global geogrid market is segmented into road construction, railroad stabilization, and soil reinforcement. The road construction segment led the market with the largest share in 2019. In the road construction segment, geogrid is mostly used in two major application areas – subgrade stabilization and base reinforcement. In the base reinforcement application, the geogrids are basically applied at the bottom or within the unbound layers of a flexible pavement system, which helps in improving the load carrying capacity of the pavement which is subjected to repeated traffic. In subgrade stabilization applications, the geogrids are basically used to build a construction platform over the weak subgrades to carry the equipment and facilitate the construction of the pavement system without any excessive deformation of the subgrades. Geogrids are also successful in reinforcing asphalt concrete (AC) overlays which is mostly regarding reflective crack retardation. Another benefit of using geogrids is that they develop an efficient interlock with surrounding asphalt which helps in the prevention of cracks from opening even after penetrating full depth.
Manufacturing Method Insights
In terms of manufacturing method, the global geogrid market is segmented into extruded, knitted/woven, and bonded. The extruded segment led the market with the largest share in 2019. This manufacturing method of geogrids basically includes an extrusion of a flat sheet of plastic into a desired configuration. The plastic material which is used can be high-density polypropylene or high-density polyethylene. The punching pattern is already set and is placed over the sheet to make holes for the formation of desired grids. The punching of pattern of holes basically leads to the formation of apertures. After forming apertures, the next thing includes the development of tensile strength, which is basically done by stretching the material to both transverse and longitudinal directions. They are used in soil and road paving reinforcement.
Geogrid Market, by Manufacturing Method – 2019 and 2028
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Geogrid Market: Strategic Insights
Market Size Value in US$ 931.49 Million in 2019 Market Size Value by US$ 2,079.02 Million by 2028 Growth rate CAGR of 9.4% from 2020-2028 Forecast Period 2020-2028 Base Year 2020
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Geogrid Market: Strategic Insights
| Market Size Value in | US$ 931.49 Million in 2019 |
| Market Size Value by | US$ 2,079.02 Million by 2028 |
| Growth rate | CAGR of 9.4% from 2020-2028 |
| Forecast Period | 2020-2028 |
| Base Year | 2020 |
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A few key players operating in the global geogrid market are Tensar Corporation; Solmax; NAUE America Inc.; HUESKER Inc.; and Carthage Mills Inc. Major market players are focused on strategies such as mergers and acquisitions, and product launches to increase their geographical presence and consumer base globally.
Report Spotlights
- Progressive industry trends in the global geogrid market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the market from 2017 to 2028
- Estimation of the demand for geogrid across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for geogrids
- Market trends and outlook coupled with factors driving and restraining the growth of the geogrid market
- Decision-making process by understanding strategies that underpin commercial interest with regard to global geogrid market growth
- Geogrid market size at various nodes of market
- Detailed overview and segmentation of the global geogrid market as well as its dynamics in the industry
- geogrid market size in various regions with promising growth opportunities
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
Company Profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Application , and Manufacturing Method
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The major players operating in the global geogrid market are BPM geosynthetics; HUESKER Synthetic GmbH; Tensar Corporation; NAUE GmbH & Co. KG; Carthage Mills, Inc.; SOLMAX; S i A Pietrucha Sp. z o.o; BOSTD Geosynthetics Qingdao Ltd ; Thrace Group; Wrekin Products Ltd; TMP GEOSYNTHETICS; Strata Systems, Inc. and Reed & Graham, Incare among many others.
In 2019, Asia Pacific contributed to the largest share in the global geogrid market. The growing use of geogrids in the emerging economies such as China and India due to rising infrastructure investments, development of rail and increasing road construction & maintenance activities are the major factors anticipated to drive the demand for geogrid. The governments in the region are taking various initiatives to attract investments in industrial development. Economies such as India and China attract investors in the long term. For instance, government of these countries focus on attracting FDIs by taking several initiatives such as signing international bilateral agreements, entering into public/private partnerships, and improving base and logistics and social use infrastructure and other such initiatives. Thus, several government initiatives for the industrial development provide a huge market opportunity for the expansion of the geogrids market in this region. In addition, the ever-growing development of transportation sector in India, Japan and China are also favoring the future growth and value of this market. Growing consumer awareness regarding product applications for soil-reinforcement in addition to their eco-friendly nature will further accelerate market growth
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 is owing to superior junction strength and optimum load-bearing properties. The increasing demand for geogrids in road construction is mainly driving the market of biaxial geogrids 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 biaxial geogrid demand during the forecast period
The List of companies - Geogrid Market
- BPM geosynthetics
- HUESKER Synthetic GmbH
- Tensar Corporation
- NAUE GmbH & Co. KG
- Carthage Mills, Inc.
- SOLMAX
- S i A Pietrucha Sp. z o.o
- BOSTD Geosynthetics Qingdao Ltd
- Thrace Group
- Wrekin Products Ltd
- TMP GEOSYNTHETICS
- Strata Systems, Inc.
- Reed & Graham, Inc
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- Data Collection and Secondary Research:
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Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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