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(Construction.IndustryNews247.Com, March 17, 2018 ) Global Geogrid Market By Type (Biaxial, Triaxial, Uniaxial), Application (Soil Reinforcement, Road Construction, Railroad Stabilization) and Region (North America, Europe, Asia Pacific, Latin America) Market Size, Status and Forecast to 2025
The global Geogrid market was valued at USD 650.1 million in 2016 and is projected to reach USD 1412.1 million by 2025, growing at a CAGR of 9.0% from 2017 to 2025.
The growing demand for these products in road construction is expected to drive market demand over the forecast period.
Geogrid is a geo-synthetic material formed by joining intersecting ribs and is used to stabilize terrain. Geogrids are mainly made up of polymers such as polypropylene, high-density polyethylene, and polyester. They are used as a base reinforcement, to reinforce retaining walls, and subsoils below roads or structures. These are available in three typeshomogeneous-type geogrid, textile-like geogrid, and laser-made geogrid. The digging up of sub-grade from other area and then filling up the required area with that soil is a very time taking and expensive practice. Geogrids are used as a replacement material for this practice. Its remarkable property, such as minimal elongation with high tensile strength and tensile modulus makes it applicable to be used as a reinforcement material.
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Competitive Landscape:
The major players in the market are as follows:
Thrace Tensar Ten Cate Wrekin Products Maccaferri TMP Geosynthetics HUESKER BOSTD Geosynthetics Qingdao Pietrucha NAUE Access More Details at http://www.kminsights.com/reports/global-geotextile-market-by-material--synthetic--natural---product--woven--knitted--nonwoven---application--drainage--erosion--agriculture--pavement-repair-and-road-construction--and-region--north-america--europe--asia-pacific--latin-america--market-size--status-and-forecast-to-2025-172434
Increase in the infrastructure developmental activities in emerging countries has led to the increase in the demand for geogrid in the market. Geogrids exceptional properties such as light weight, easy handling and high-temperature stability are the other key drivers of the market. However, patent restrictions and inefficient R&D majorly hinders the growth during the forecast period.
Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to register the maximum growth in terms of both value and volume in the market followed by North America.
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