What is the current Geogrids Market size?

The Geogrids Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029) Read More

Who are the key players in Geogrids Market?

NAUE GmbH & Co. KG , Officine Maccaferri Spa , TECHFABINDIA, TenCate Geosynthetics Asia Sdn Bhd and TENAX SPA are the major companies operating in the Geogrids Market. Read More

Which is the fastest growing region in Geogrids Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Geogrids Market?

In 2024, the Asia Pacific accounts for the largest market share in Geogrids Market. Read More

What years does this Geogrids Market cover?

The report covers the Geogrids Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Geogrids Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Geogrids Market Trends

Statistics for the 2023 & 2024 Geogrids market trends, created by Mordor Intelligence™ Industry Reports. Geogrids trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Geogrids Industry

This section covers the major market trends shaping the Geogrids Market according to our research experts:

Increasing Demand in Road Construction

A geogrid is a geosynthetic material used to reinforce soils, retaining walls as well as subbases or subsoils below roads or structures. Geogrids are strong in tension, which allows them to transfer forces to a larger area of soil thereby reinforcing it.
The structure of the grid defines the reinforcing capacity. Geogrids of triangular and rectangular patterns are the most renowned grids across the world because of the technical aspect that it binds the structures more firmly with greater shear strength.
In November 2019, Indian highways ministry announced their intensions to award road projects worth INR 50,000 crore (~USD 7 billion) for the construction of about 4,500 roadways in length across India.
Application of geogrids in road construction has dominated the market. China leads in the usage of geogrids followed by Canada, the United States, and India.

Understand The Key Trends Shaping This Market

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Asia-Pacific Region to Dominate the Market

The Asia-Pacific region is expected to dominate the market for geogrids during the forecast period. With increasing road construction in developing countries, such as India, China, and Japan, the use of geogrids is increasing in the region.
The Chinese government planned to increase infrastructure investment, in order to ensure the stability of its sagging economy. According to the report represented in the annual session of the National People's Congress in March 2019, CNY 1.8 trillion (~USD 257.15 billion) of investment was planned for road construction and waterways projects.
The Indian government set a target for constructing 65,000 km of national highway by 2022 with an estimated budget of INR 5.35 lakh crores (~USD 74.75 billion) and hence, creating a major scope for this market in the region.
Owing to several advantages of using geogrids, in terms of overall cost of construction, ease of installation, sustainability, structural durability and flexibility, prevention of soil erosion, resistance to earthquakes, and ease of construction for structures like roads and slopes, the demand for geogrids market is expected to increase over the coming years.
The aforementioned factors, coupled with government support, are contributing to the increasing demand for geogrids market during the forecast period.