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Geogrids Market worth $1.5 Billion by 2020
The report “Geogrids Market by Application (Road Industry, Railroad Stabilization, Soil Reinforcement, and Others) , by Region (Asia-Pacific, North America, Europe, Rest of the World) - Global Trends and Forecasts to 2020” defines and segments the global geogrids market with analysis and forecasts of global market size in terms of volume and value. It also identifies driving and restraining factors for the global geogrids market with an analysis of trends, opportunities, burning issues, and winning imperatives.
Browse 83 market tables and 47 figures spread through 153 pages and an in-depth TOC on “Geogrids Market by Application (Road Industry, Railroad Stabilization, Soil Reinforcement, and Others) , by Region (Asia-Pacific, North America, Europe, Rest of the World) - Global Trends and Forecasts to 2020”
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The market is segmented and market size in volume and value are forecast on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World (RoW). Further, the market is segmented and values are forecast on the basis of major applications of geogrids used in various industries such as road industry, railway industry, soil reinforcement, and others.
Road Industry - major market for geogrids
Geogrid materials have applications based on their load-bearing capacity, cost and function. Geogrid materials increase efficiency and minimize maintenance of roads, entrances, laydown areas and Oil & Gas platform sites. By utilizing geogrids, reduction in aggregate thickness can be achieved in road construction. Geogrids form a distinct category of geosynthetics designed for soil reinforcement. These products are characterized by a relatively high tensile strength and a uniformly distributed array of large apertures. The apertures allow soil particles on either side of the installed sheet to come into direct contact, thereby increasing the interaction between the geogrid and some soils.
Global geogrids market to surpass $1.5 Billion by 2020
The global market size for geogrid materials in terms of value is projected to surpass $1.5 Billion by 2020, at a CAGR of around 13.0% from 2015 to 2020. The Asia-Pacific region dominated the global geogrids market size by value in 2014 with around 35% share in the global market. Asia-Pacific is projected to have the highest market size in terms of value by 2020, followed by the North America region. Asia-Pacific is also projected to be the fastest growing market, at a CAGR of around 17.0% from 2015 to 2020, owing to rise in consumption in the region, where end-user markets of geogrids is growing steadily, especially in road and rail infrastructural developments. The European market is projected to grow at a rate of about 7.0% in terms of value.
The U.S. and China accounted for more than 35.0% of geogrids market in terms of value in 2014
The U.S. is the biggest consumer in the North American region as well as in global scenario with around 80% share in that region. China is the biggest end user of geogrids with about 40.0% share in the Asia-Pacific region and is the second largest globally. The U.S. and China together accounted for around 40.0% of the global geogrids market size in terms of value in 2014. The U.S. and China are the largest consumers in their respective regions, and are expected to compete with each other to dominate the market by 2020, with advanced geogrid materials for end users.
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