Geogrid Market Size, Trends and Growth Analysis by 2027

The global geogrid market was valued at approximately US$ 931.49 million in 2019 and is anticipated to grow to US$ 2,079.02 million by 2028, reflecting a compound annual growth rate (CAGR) of 9.4% from 2020 to 2028.

Geogrids are a type of geosynthetic material characterized by their intersecting ribs, which serve to stabilize various terrains. These materials are primarily composed of polymers, including polyester, high-density polyethylene, and polypropylene. They are utilized for base reinforcement, helping to retain subsoils beneath roadways and to bolster the retaining walls of structures. The physical attributes of geogrids, such as their minimal elongation, high tensile modulus, and exceptional tensile strength, make them a preferred choice for reinforcement applications.

The geogrid market is categorized by type into three segments: uniaxial geogrid, biaxial geogrid, and triaxial geogrid. In 2019, the biaxial geogrid segment held the largest market share and is projected to continue its dominance throughout the forecast period. This growth is largely due to its superior junction strength and optimal load-bearing capabilities. The increasing demand for geogrids in road construction is a significant factor driving the growth of the biaxial geogrids segment globally. Additionally, these geogrids are employed in various applications, including soil stabilization, subbase reinforcement, foundation engineering, flyovers, bridges, and highway construction. Their advantageous properties, such as high tensile stiffness, remarkable durability, and resistance to stretching, are expected to further boost the demand for biaxial geogrids in the coming years.

Regionally, the geogrid market is divided into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA). In 2019, the Asia Pacific region accounted for the largest share of the global geogrid market. The rising adoption of geogrids in emerging economies like China and India is driven by increased infrastructure investments, rail development, and heightened road construction and maintenance activities. Governments in these regions are implementing various initiatives to attract investments in industrial development. Countries such as India and China are becoming increasingly appealing to long-term investors. For example, these governments are focusing on attracting foreign direct investments (FDIs) through initiatives like signing international bilateral agreements, forming public/private partnerships, and enhancing infrastructure for logistics and social use. Such government efforts create significant opportunities for the expansion of the geogrids market in this area. Furthermore, the ongoing development of the transportation sector in India, Japan, and China is also contributing positively to the future growth and valuation of this market. The rising consumer awareness regarding the applications of soil reinforcement, coupled with the eco-friendly nature of geogrids, is expected to further accelerate market growth.

The COVID-19 pandemic has had a detrimental impact on economies and industries worldwide due to government-imposed lockdowns, travel restrictions, and business closures. The chemical and materials sector is among the industries experiencing significant disruptions, including supply chain interruptions, cancellations of technology events, and office shutdowns. The closure of numerous manufacturing plants across North America, Europe, Asia Pacific, South America, and the Middle East & Africa has hindered the global supply chain, adversely affecting manufacturing activities, delivery timelines, and product sales. Many companies have already forecasted potential delays in product deliveries and a decline in future sales. Travel restrictions in Europe, Asia, and North America are obstructing business collaborations and partnership opportunities. These factors collectively hinder the activities within the chemical and materials industry, thereby restraining the growth of various related markets.

Key players in the global geogrid market include BPM Geosynthetics, HUESKER Synthetic GmbH, Tensar Corporation, NAUE GmbH & Co. KG, Carthage Mills, Inc., SOLMAX, S i A Pietrucha Sp. z o.o, BOSTD Geosynthetics Qingdao Ltd, Thrace Group, Wrekin Products Ltd, TMP GEOSYNTHETICS, Strata Systems, Inc., and Reed & Graham, Inc..

The overall size of the global geogrid market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants and experts to validate the data and gain deeper analytical insights. Participants in this process included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the global geogrid market.