Geogrids are made of polymers and composites that are used to reinforce soil in road, railways, and other construction works. Widely used polymer materials in the manufacture of geogrids include polyesters, polyethylene (PE), polyvinyl alcohols (PVA), and others that are produced in a compact form and then stretched in sheets with grids. Geogrids offer high tensile strength by holding the walls of the structure. They (geogrids) extend the life of walls. Geogrids are used in walls over certain heights to firmly hold the structure and prevent failures. In addition, geogrids are used in pavements and runways as these materials distribute the load over a greater area and increase the strength of the base. Geogrids are generally made of high-density polyethylene (PE) and polypropylene (PP).
Technavio’s analysts forecast the global geogrids market to grow at a CAGR of 12.78% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global geogrids market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Geogrids Market 2017-2021
Technavio recognizes the following companies as the key players in the global geogrids market: Koninklijke Ten Cateas, Low & Bonar, NAUE, Officine Maccaferri, Strata Systems, and ACE Geosynthetics.
Other Prominent Vendors in the market are: Asahi Kasei Advance, Atarfil, Carthage Mills, CHANGZHOU CITY YONGXIN HUALI COATED FABRIC, Feicheng Lianyi Engineering Plastics, Leggett & Platt, HUESKER, Nanchang Teamgo New Materials, Nanyang Jieda Geosynthetics, Propex Operating Company, Shandong Hongxiang New Geo-Material, Synteen, TENAX, Taian Modern Plastic, Tensar International, and Tai'an City Ruiheng Building Materials.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing mergers & acquisitions (M&As). The market is fragmented because of the presence of small regional manufacturers. Cost leadership and innovation help vendors remain competitive in the market. The key players acquire the small players to increase their market share and improve their global presence. M&A will help big players to exploit the emerging markets and improve their product portfolio according to the regional needs.”
According to the report, one of the major drivers for this market is Increasing developments in roadways and railway infrastructure. For the construction of roads, it is important to provide stability to the soil with sufficient bearing capacity. This can be achieved by using placing geogrids between the subsoil and base course. Geogrids reduce rutting as they distribute the load equally. They are a cost-effective and efficient method to design and construct roads. The global infrastructure is expected to increase from $4 trillion in 2012 to $8.7 trillion by 2024. Efficient infrastructure, such as well-connected roads, drives growth in the economy.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuation in prices of raw materials. Geogrids are made of synthetic polymers. In terms of volume, PP accounts for approximately 55% of the global geogrids market. It is used for construction purposes as it increases the lifespan. Since geogrids are made primarily of PP, fluctuations in the price of raw materials affect the cost of production of geogrids. Uncertainty in the availability of raw materials creates volatility in demand. Several vendors change the price of the product because of fluctuating prices of raw materials. Export and import of raw materials by countries also impact the price of products.
Koninklijke Ten Cateas, Low & Bonar, NAUE, Officine Maccaferri, Strata Systems, ACE Geosynthetics, Asahi Kasei Advance, Atarfil, Carthage Mills, CHANGZHOU CITY YONGXIN HUALI COATED FABRIC, Feicheng Lianyi Engineering Plastics, Leggett & Platt, HUESKER, Nanchang Teamgo New Materials, Nanyang Jieda Geosynthetics, Propex Operating Company, Shandong Hongxiang New Geo-Material, Synteen, TENAX, Taian Modern Plastic, Tensar International, and Tai'an City Ruiheng Building Materials.
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