Geogrid Market Outlook - 2026
The global geogrid market was valued at $0.8 billion in 2018, and is projected to reach $1.8 billion by 2026, growing at a CAGR of 9.9% from 2019 to 2026. Geogrid is a geosynthetic material used in the reinforcing of soils and other similar materials. It is majorly used in the reinforcement of retaining walls and subbases or subsoils. It improves the bearing capacity and decreases the deformability of the soil. There is an increase in the use of geogrid in the transportation and construction sectors across the globe. This surges the demand for geogrid products.
Increase in infrastructure development activities in the countries such as U.S., China, India, Japan, and others drives the growth of the global geogrid market. In addition, superior properties associated with geogrid such as light weight, easy handling, high temperature stability, and strong longevity of construction fuels the growth of the market across the globe. Furthermore, reduction in maintenance cycles and cost boosts the market growth. However, lack of skilled work force is the key factor that is expected to hamper the growth of the market during the forecast period. Increase in awareness and surge in number of R&D activities are the factors expected to create opportunity for the key players to maintain their position in the global geogrid market.
In addition, geogrid is the important material in reinforcement or strengthening of the soil. It is light weight, easy to handle, exhibits high temperature stability, easy to maintain, strong, and possesses longevity of construction. Owing to the mentioned properties, geogrid is the suitable and attractive option in the construction industry, which acts as the driving factor in the growth of the geogrid market globally. Other key factors driving the demand of geogrid market include reduction in maintenance cycle and cost. For instance, the use of geogrid in pavements, soil reinforcement, and road industry reduces the maintenance cost and cycles is the key factor that propels the growth of the geogrid market globally. Geogrid provides cost savings and reduced maintenance cycles as compared to other structural material which increases the demand for geogrid products from the construction industry.
However, geogrid products are always buried, the life cycle and maintenance factor of the product always depend on the proper installation of the material. Thus, the proper care has to be taken during the installation process of geogrid material as it cannot be replaced/repaired after installation, hence, it needs to be neatly installed at the first time. Lack of skilled workforce in developing economies is the prime factor that hampers the growth of the geogrid market during the forecast period.
On the contrary, there is an increase in the demand for geogrid in the road industry and railroad stabilization owing to the working advantages of geogrid in strengthening the base such as soil, rock, and other materials. In addition, the utilization of geogrid products in the construction of roads reduces the maintenance cost and maintenance cycles, which is an attractive option for use in construction activities. Thus, above mentioned advantages increase the awareness among consumers. This also leads to surge in number of R&D activities in improving the performance of geogrid. Thisin turn supplements the growth of the market.
The geogrid market is segmented into application and region. By application, the market is classified into road industry, railroad stabilization, soil reinforcement, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific has the highest market share in terms of region. This is attributed to increase in demand for high speed rail transmission network and rise in demand from building construction and road industry .In addition, Asia-Pacific noted the highest growing rate in the geogrid market during the forecast period (2019-2026).
The global geogrid market analysis covers in-depth information of the major industry participants. Some of the major players in the market include ACE Geosynthetics, Glen Raven Inc., Huesker Synthetic GmbH, Low & Bonar PLC, SECI SpA, Naue GmbH & Co. Kg, Tenax SPA, Koninklijke Ten Cate B.V., Tensar, and Wrekin Products.
Other players operating in the value chain of the global geogrid market are Propex Operating Company LLC, Asahi-Kasei Geotech, Carthage Mills, Thrace, Pietrucha, and others.
Key players are adopting numerous strategies such as product launch and business expansion to stay competitive in the global geogrid market.
For instance, NAUE Group launched new geogrid products. These new product sare called Secugrid and Combigrid. These are used for stabilization and reinforcement applications. In addition, Tensar Corporation launched new geogrid products named EarthLock Hardscaping Geogrid, EarthLock Jobsite Geogrid, and EarthLock Retaining Wall Geogrid. Earth Lock product is designed to handle a problem faced by homeowners around the country. EarthLock Jobsite Geogrid is used for soft soil problem.
Global Geogrid Market, by Application
By application, the road industry segment has garnered the highest market share in the geogrid market in 2018 owing to the increase in demand for transportation facilities. In addition, the use of geogrid in road construction minimizes the maintenance cycles and cost, which fuels the growth of the global market. In addition, geogrids are widely used in road industry for the past 30 years. In roadways, they are used for base strengthening and subgrade stabilization. They improve the load handling capacity of the pavement under dense traffic and are placed within unbound layers of the flexible pavement systems. In subgrade stabilization, they are used to construct base over weak subgrades in the construction of the pavement systems. In subgrade stabilization, geogrids are used for transportation infrastructures such as highways, bridges and others.
Road Industry is projected as the most lucrative segment.
Global Geogrid Market, by Region
By region, Asia-Pacific dominated the highest market share in the geogrid market. This is owing to numerous factors such as huge consumer base, the rise in infrastructure development activities, increase in construction activities, and upgradation of infrastructural facilities in the region.
Asia-Pacific is the key market for the geogrid industry. It is the world’s largest as well as most populous continent. Geogrids are used in road industry, railroad stabilization, soil reinforcements, mining, and other applications.
In addition, as per the study on transport sector by the Asian Infrastructure Investment Bank (AIIB), the infrastructure demand for roads, rails, and aviation is higher in regions such as Central Asia, Western Asia, Oceania, and Russia owing to the huge geographic base and less populating region. Inaddition, increase in demand for high speed rail transmission network is larger in the regions such as South Asia, East Asia, and South-East Asia. Thus, abovementioned factors increase the demand for geogrids in infrastructural activities, which further drive the growth of the geogrid market in Asia-Pacific. For last 10 years, Asia-Pacific registered considerable economic growth; to maintain this economic growth the governments of the region planned and made huge investments in transport infrastructural activities. Rise in demand for geogrids from building construction and road industry is expected to boost the growth of the global geogrid market during the forecast period.
Asia-Pacific would exhibit an CAGR of 10.1% during 2019-2026.
Key Benefits For Stakeholders
- The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global geogrid market from 2019 to 2026 to determine the prevailing opportunities
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided
- Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume
- Profiles of leading players operating in the market are provided to understand the global competitive scenario
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth
Geogrid Market Report Highlights
Key Market Players
LOW & BONAR PLC, TENAX SPA, KONINKLIJKE TEN CATE BV, WREKIN PRODUCTS LTD., HUESKER SYNTHETIC GmbH, MACCAFERRI GROUP - SECI SPA, ACE GEOSYNTHETICS, GLEN RAVEN INC., TENSAR CORPORATION, NAUE GmbH & CO. KG
According to the perspectives of CXOs of leading companies, the popularity of geogrid is expected to witness a significant increase in both the developed and the developing economies during the forecast period in response to the increasing several infrastructural activities. Some of the factors such as increase in the infrastructure development activities, reduction in maintenance cycle & cost and superior properties associated with geogrid are driving the growth of the global geogrid market. However, lack of skilled workforce to handle or to design geogrid hampers the growth of the geogrid market globally. Amongst the several applications of geogrid, the road industry application currently holds the largest market share and is projected to maintain the same during the forecast period. According to the CXOs, the demand for geogrid is witnessing significant growth in all the regions, owing to its advantages such as easy handling, high tensile strength, light weight, and high temperature stability.
Among the analyzed geographical regions, Asia-Pacific is expected to account for the highest revenue in the global geogrid market throughout the forecast period (2019-2026) followed by North America, Europe, and LAMEA. Asia-Pacific is expected to emerge as an attractive market during the forecast period because of the increase in the construction activities in the developing economies such as India, China, and others, and rising investment in the infrastructural developments.