Global Geogrids Market Set for Rapid Growth, To Reach Around USD 1,500.0 Million by 2021
Deerfield Beach, FL -- (SBWIRE) -- 05/02/2017 -- According to the report, global demand for geogrids was valued at over USD 761.0 million in 2015, is expected to reach above USD 1,500.0 million in 2021 and is anticipated to grow at a CAGR of slightly above 12.0% between 2015 and 2021.
Zion Market Research has published a new report titled "Geogrids Market for Railroad stabilization, Road Industry, Soil Reinforcement, Retaining Walls and Other Application: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021".
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Geogrids are structured polymers prepared by using sheets of high density polypropylene or by noting and glazing different high persistent polymers. Compared to soil, geogrids are strong in tension. This fact allows them to transfer forces to a larger area of soil than would otherwise be the case. The least elongation with high tensile strength is appropriate for soil reinforcement. Geogrids provide decreased life cycle price and are economical. Geogrids are designed as uniaxial or biaxial. Uniaxial geogrids provide minor strength that maintains structure of aperture in cross direction of machine, while biaxial acts same as uniaxial expect it provides equal strength in cross and parallel machine direction.
The geogrids market is mainly driven due to its widespread applications and strong demand from railway and roadways products. Government initiative and funds supports growth of the geogrids market. Increasing requirement for high quality design is anticipated to surge the geogrids market. Conversely, the market is restricted owing to patent limitations in product design. In expert civil designers and engineers and under developed countries devoid of R&D hinder the market growth. Nonetheless, commercial industries, mining and oil sectors can extend opportunities for geogrids market in forecast period. Developing countries are undergoing radical transformation in recent times. Moreover, market remains competitive due to unexploited opportunities with growing scope of infrastructure demand.
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Some of the key application in geogrids market includes railroad stabilization, road industry, soil reinforcement, retaining walls and others. Road industry was leading segment owing to its function, cost, and load bearing capacity of geogrids materials. High efficiency, low maintenance cost of roads, oil & gas sites, etc. is expected to boost the demand for geogrids in the years to come. Use of geogrids in road construction had shortened the aggregate material width. Geo synthetics the type of geogirds are utilized in soil reinforcement. Hence, this segment is anticipated to boost the demand for geogrids in the near future.
Asia Pacific accounted for largest market share in 2015. Increased number of end users for road and railways segment resulted in growth of geogrids market in this region is expected to show rapid growth during the forecast period. North America was second largest regional segment in 2015 and expected to witness fastest growth in the near future.
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Some of the key player in global geogrids market includes NAUE GmbH & Co. KG, Tensar International Corporation, ACE Geo synthetics Enterprise Co., Ltd., and Low & Bonar PLC and Strata Systems among others.