Geogrid Market is growing at a CAGR of 3.2% during 2018 to 2022 | Key Players - Tensar International Corporation, Colbond Inc., Strata Systems Inc., and Hueskar Inc. among many others.

Geogrid Market Analysis Size, Growth rate and Overview:
The Geogrid Market was valued at USD 690.2 million in 2017 and is expected to reach almost USD 1016 million by the end of 2022 growing at a CAGR of around 3.2% over the predicted period.

Geogrids are mainly used to strengthen construction applications that are effective and relatively more efficient. They have exceptional properties, including good tensile strength and load distribution capacity in a larger area. In addition, the use of geogrids has several advantages, including earthquake resistance, cost effectiveness, improved flexibility and greater durability compared to other conventional reinforcement methods. These are used in many construction applications, including roads, dams, ports and rail infrastructure.

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Geogrid Market Key Drivers, Challenges, and Opportunities:
Geogrids are becoming increasingly popular because of their versatility, utility and the economic benefits associated with their use. The geogrids help to significantly increase the carrying capacity of the soil and also help to guarantee the structural integrity of the soil. The geogrids facilitate the development of slopes and, therefore, are an effective alternative to retaining walls and inclined applications. It is expected that the increasing adoption of geogrids will have a positive impact on the growth of the global market.

The use of geogrids offers several advantages in terms of overall construction costs compared to traditional reinforcement techniques, ease of use and installation, durability, and flexibility of structures, erosion prevention, resistance to earthquakes and ease of construction of structures such as walls and slopes, among others. The rapid growth of the construction industry in regions such as Asia-Pacific is expected to generate a significant demand for geogrids. In addition, renovation activities and infrastructure development in areas such as North America and Europe should create additional attractiveness for the market. Recently, manufacturers have focused on the introduction of triaxial geogrids with improved rib thickness, better loading capacity and better distribution. These efforts have resulted in product development and structural performance optimization for a range of applications.

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Geogrid Market – Regional Presence:
It is expected that the global geogrid market will be dominated by the Asia-Pacific region. This is attributed to the significant growth of the construction and infrastructure sector in the region. The government has invested in the region to develop rail and road infrastructure. Many new highways, reservoirs, ports, etc. they must be built during the forecast period, especially in countries such as India and China. It is also expected that North America and Europe will have a significant part of the global market with renewal and infrastructure development activities in the region. Japan is expected to show relatively stagnant growth during the forecast period.

Some of the Key Players Profiled in this Geogrid Market Report are:
Tensar International Corporation, Colbond Inc., Strata Systems Inc., and Hueskar Inc. among many others.

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