Ever-Increasing Infrastructural Developments Worldwide with Rapidly Increasing Geogrid Installations
The Global Geogrid Market is set to record around 8% CAGR during 2022-27, cites MarkNtel Advisors in their recent research report. Geogrids are geosynthetic materials made by interconnecting grids used in the construction industry as reinforcing material. Their application in soil fortification, reinforcement of retaining walls, and mining is flourishing at a rapid pace worldwide.
Massive investments by governments of different countries in infrastructural developments related to roads, highways, bridges, & ports, among others, are driving the global geogrid market. The structure or the area where geogrids are applied is improved as they offer enhanced surface quality & safety of roads, involve low maintenance, and eliminate the need for over-excavation along with the disposal of poor-quality soil.
Consequently, various ongoing infrastructural development projects worldwide, especially across Asia-Pacific & Europe, in order to strengthen road networks are amplifying the demand for geogrids and, in turn, stimulating the overall market growth. The key companies operating in the industry are investing substantially in research & development to introduce environmentally sustainable geogrid solutions in order to capture emerging markets in the US, Germany, France, China, Japan, etc., i.e., creating lucrative prospects for them to generate significant profits in the coming years.
Roads & Highways, the Largest Applications of Geogrids, are Notable Contributors to the Market Growth
Rapid infrastructural developments toward strengthening road networks are among the prime reasons behind the rapidly accelerating demand for geogrids worldwide. Governments of different countries in the Middle East, Europe, & Asia-Pacific are massively investing in the development of road networks by launching various plans, i.e., escalating the demand for geogrids. Moreover, various ongoing infrastructural projects, especially in emerging nations like India, China, etc., are also creating new avenues for the leading players operating in the global geogrid market to witness significant expansion with the increasing application in roads & highways to enhance their longevity.
With Massive Investments in Infrastructural Development Projects, North America Dominated the Geogrid Market
North America has been heavily spending on various projects related to infrastructure developments, which has created an immense demand for geogrids across the region in recent years. Characteristics like enhanced cost savings, lightweight, easy handling, high-temperature stability, etc., are contributing to the burgeoning use of geogrids toward strengthening infrastructure capabilities. Moreover, various up-gradation activities in the US, numerous upcoming transportation projects in Mexico & railway projects in Canada, and high awareness of these benefits of geogrids among different end-users are paving robust grounds for the North America Geogrid Market.
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The leading players in the Global Geogrid Market include 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, and Carthage Mills.
Key Questions Answered in the Research Report
- What are the current & future trends in the Global Geogrid Market?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across different regions, followed by their comparative factorial indexing?
- What are the key growth drivers & challenges for the Global Geogrid Market?
- What are the customer orientation, purchase behavior, & expectations from the leading players operating the Global Geogrid Market?
- By Type (Uniaxial Geogrids, Biaxial Geogrids, Triaxial Geogrids)
- By Application (Roads & Highways, Railway Tracks, Bridges & Dams, Residential & Commercial Buildings, Others (Sea Ports, Airport Runways, Solid Waste Landfills, etc.))
- By Manufacturing Method (Extrusion, Knitten/Woven, Bonded/Welded),
- By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific)
- By Countries (The US, Canada, Mexico, Germany, The UK, France, Italy, Spain, Saudi Arabia, The UAE, Israel, Egypt, China, Japan, India, South Korea, Australia)
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