Geogrid Market Analysis Size, Growth rate and Overview:
The Geogrid Market was valued at USD 690.2 million in 2017 and is expected to reach almost USD 1016
million by the end of 2022 growing at a CAGR of
around 3.2% over the predicted period.
Geogrids are mainly
used to strengthen construction applications that are effective and relatively
more efficient. They have exceptional properties, including good tensile
strength and load distribution capacity in a larger area. In addition, the use
of geogrids has several advantages, including earthquake resistance, cost
effectiveness, improved flexibility and greater durability compared to other
conventional reinforcement methods. These are used in many construction
applications, including roads, dams, ports and rail infrastructure.
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Geogrid Market Key Drivers,
Challenges, and Opportunities:
Geogrids are becoming increasingly popular because of their versatility,
utility and the economic benefits associated with their use. The geogrids help
to significantly increase the carrying capacity of the soil and also help to
guarantee the structural integrity of the soil. The geogrids facilitate the
development of slopes and, therefore, are an effective alternative to retaining
walls and inclined applications. It is expected that the increasing adoption of
geogrids will have a positive impact on the growth of the global market.
The use of geogrids offers several advantages in terms of overall
construction costs compared to traditional reinforcement techniques, ease of
use and installation, durability, and flexibility of structures, erosion
prevention, resistance to earthquakes and ease of construction of structures
such as walls and slopes, among others. The rapid growth of the construction
industry in regions such as Asia-Pacific is expected to generate a significant
demand for geogrids. In addition, renovation activities and infrastructure
development in areas such as North America and Europe should create additional
attractiveness for the market. Recently, manufacturers have focused on the
introduction of triaxial geogrids with improved rib thickness, better loading
capacity and better distribution. These efforts have resulted in product
development and structural performance optimization for a range of
applications.
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Geogrid Market – Regional
Presence:
It is expected that the global geogrid market will be dominated by the
Asia-Pacific region. This is attributed to the significant growth of the
construction and infrastructure sector in the region. The government has
invested in the region to develop rail and road infrastructure. Many new
highways, reservoirs, ports, etc. they must be built during the forecast
period, especially in countries such as India and China. It is also expected
that North America and Europe will have a significant part of the global market
with renewal and infrastructure development activities in the region. Japan is
expected to show relatively stagnant growth during the forecast period.
Some of
the Key Players Profiled in this Geogrid Market Report
are:
Tensar International
Corporation, Colbond Inc., Strata Systems Inc., and Hueskar Inc. among many
others.
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kevin@researchcosmos.com
Global Sales Manager
Research Cosmos
www.researchcosmos.com
+1 888 709 8757
https://marketreportsweb.com/
https://acutemarketinsights.com/
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