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Geotextiles and Geogrids Market : Latest Trends and Forecast Analysis up to 2019
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According to the report, the geogrids market in the Gulf Cooperation Council (GCC) countries (except UAE) is expected to grow at an average CAGR of 11.6% during the forecast period, from 2013 through 2019, and value USD 182.5 million by the year 2019. The demand from this region, in terms of volume, is anticipated to grow is estimated to grow at an average CAGR of 7.7% and reach a market-value worth 41.5 million square meters during the forecast period.
The geogrids market in the UAE particularly is anticipated to reach a market-value worth USD 32.9 million, by experiencing growth at an average annual CAGR of 11.8% during the forecast period. In terms of demand, the market in this region is estimated to reach 7.0 million square meters by the year 2019, by experiencing growth at an average CAGR of 7.5% during the forecast period.
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The new report launched by Transparency Market Research on the Geotextiles and Geogrids market, pertaining especially to the GCC countries, sheds light on the anticipated market development activities in this region during a forecast period ranging from 2013 to 2019. The research study and forecast are based on two broad segments of the region - UAE and the rest of the GCC countries.
Geotextiles and geogrids find applications in a variety of civil construction activities. In a variety of cases, these materials eliminate the need for the traditional aggregate construction materials and provide various economic and environmental benefits.
Geotextiles and geogrids are especially important for difficult regions (construction-wise) that are characterized by lands that are mostly covered by soil, lands that have soft subgrades or the ones that have sloping grounds. Such regions pose difficulties for various activities such as stabilization, reinforcement, draining, and isolation of grounds during construction. Geotextiles and geogrids provide stability and the desired aesthetics to such lands and make them fit for any construction activity and also help in extending their performance life.
According to the report, the implementation of the 1940-km long regional railway mega-project, Gulf Railway, planned to connect the six GCC countries and aimed to be operational by the year 2017 will emerge as the singlemost promising factor driving the demand for geotextiles and geogrids in the GCC regions. The demand is also estimated to significantly rise as a result of the many gigantic road development projects slated to start soon in these regions. Rise in consumer awareness about the advantages offered by these substances is expected to affect the market positively over the next few years.
However, factors such as fluctuating costs of raw materials such as polyester and polypropylene resulting from the depleting reserves of petroleum can hamper the growth of this market, the report adds.
Product-wise, nonwovens accounted for the highest market share – nearly 65% - in the year 2012 due to their extensive use in road construction and drainage systems. This segment is estimated to experience the fastest growth rate in the forecasted period too, owing to a rise in infrastructural developmental activities in the GCC countries, adds the report.
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The report estimates that application-wise, the segment of erosion control will observe the fastest growth rate during the forecast period, at an average annual growth rate of 7.9% in UAE. This is estimated to be a result of rise in infrastructure development of roads, drainage systems and commercial and non-commercial projects.
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