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Research analysis on the global geogrids market identifies that the low maintenance cost with the usage of geogrids in construction of roadways will be one of the major factors that will have a positive impact on the growth of the market. These geogrids increase the lifespan of the roads and are also treaded as an alternative for areas where the soil is insufficient. The institutes are collaborating with the government to the provide better road services and which requires less maintenance. For instance, National Highway Authority of India (NHAI) and IIT Kharagpur collaborated to develop technologies which will provide maintenance-free roads. Technavio’s market research analysts predict that this market will grow at a CAGR of almost 13% by 2021.
The increase in adoption of natural geosynthetics will be one of the latest trends that will gain traction in the geogrids market during the next four years. The increasing prices of the raw materials used to produce the synthetic product will affect the demand. The high price of synthetic geotextile in the developing countries, as these countries comprise of renewable raw material which includes jute, coir, carbon fiber, and others required for natural geosynthetics. The initiatives from the institutes globally, are developing natural fibers from the raw materials, for instance, IIT Delhi has developed four different varieties of natural fiber (from coir and jute) to control soil erosion.
This market appears to be concentrated with the presence of few vendors. The key players in the market obtain patents which restricts other players to manufacture or design products with the same technology and materials. This will increase the level of competition among the existing players. The vendors in the market are competing based on the developing new products and technology to offer to the end users of the market.
The leading vendors in the market are -
The other prominent vendors in the market are Asahi Kasei Advance, Atarfil, Carthage Mills, CHANGZHOU CITY YONGXIN HUALI COATED FABRIC, Feicheng Lianyi Engineering Plastics, Leggett & Platt, HUESKER, Nanchang Teamgo New Materials, Nanyang Jieda Geosynthetics, Propex Operating Company, Shandong Hongxiang New Geo-Material, Synteen, TENAX, Taian Modern Plastic, Tensar International, and Tai'an City Ruiheng Building Materials.
During 2016, the roadways segment accounted for the major shares of this market. The increasing construction of roadways has led to the increase in investments in infrastructure globally will increase the demand for geogrids. The funding from government in developing and developed countries has led to the rising demand for the construction of roads which led to the usage of geogrids.
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market by 2021. The increasing investment in the infrastructure sector had led to the growth in geogrids. The region has witnessed the government initiatives for the use of geosynthetic products in construction of roadways and railways, which will drive the market growth.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
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