Geogrids Market to Hit $1,500.0 Mn globally by 2020
Deerfield Beach, FL -- (SBWIRE) -- 09/15/2017 -- 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". According to the report, global demand for geogrids market 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.
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Geogrids are well-organized polymersprepared using sheets of high density polypropylene or polyethylene or by braiding or nothing and glazing different high obstinacy polymers. Geogrid composition consist spaces ranging from 0.5 to 4.0, which increase contact with the aggregate or soil. The minimal elongation with high tensile modulus and strength are suitable for soil reinforcement. For extensive range applications, the designer creates the composite material by adding geogrids to soil or geotechnical material. Geogrids are produced as uniaxial or biaxial. Uniaxial geogrids provide minor strength that preserves structure of aperture in the cross direction of the machine, while biaxial provides identical strength in the cross and parallel machine direction.
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The geogrids market is primarily driven due to its widespread applications in railway and roadways products and rapidly growing infrastructure market. Rising demand for secure quality design is expected to surge the geogrids market. Government funding and initiative support growth of the geogrids market. On the other hand, the market is limited owing to patent restrictions in the product specification. Untrained civil designers and engineers, also underdeveloped countries lack in R&D hampers the market growth. Commercial industries, mining and oil sectors can develop opportunities for geogrids market in near future. Furthermore, developing countries are witnessing an unprecedented boom in recent times. Also, untapped opportunities with growing scope of infrastructure demand are likely to open new market avenues in the forecast period.
The global geogrids market is segmented on basis of application including railroad stabilization, road industry, soil reinforcement, retaining walls and others are the applications for geogrids market. Road industry emerged as leading segment due to function, cost, and load bearing capacity of geogrids materials. High efficiency and minimized maintenance of roads, oil & gas sites and entrance are properties of the geogrids materials. Use of geogrids in road construction had reduced the aggregate material thickness. Railroad stabilization and retaining soil are key segment expected to experience significant growth in the years to come.
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Asia Pacific dominated the global geogrids market in 2015 followed by North America in terms of revenue. This is mainly due to China has emerged as a major contributor in geogrids market since 2015. Increased end users for road and railways segment resulted in the growth of geogrids market in this region. North America expected to be a fastest growing market in the forecast period.
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.
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