Global Feed Acid Market Revenue by Size is Predicted to Reach $3.3 Billion by 2030, Growing at a CAGR of 6.5%

Jacksonville, FL, Dec. 12, 2022 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Geogrid Market By Material (HDPE, Polypropylene, And Polyester), By Product Built (Uniaxial, Biaxial, And Multiaxial), By Application (Road Construction, Railroad, Soil Reinforcement, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database.

“According to the latest research study, the demand of global Geogrid Market size & share in terms of revenue was valued at USD 1.15 billion in 2021 and it is expected to surpass around USD 2.01 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 4.71% during the forecast period 2022 to 2030.”

What is Geogrid Market? How big is the Geogrid Market Industry?

Geogrid Report Coverage & Overview:

Geogrid is a geosynthetic material utilized for reinforcing soils and other similar materials. Reportedly, geogrids are made up of polyester, polypropylene, polyvinyl alcohol, and polyethylene. Furthermore, these products are woven from yarns, heat-welded from material strips, and manufactured by punching a symmetrical pattern of holes in material sheets. In addition, these products find extensive application in construction activities owing to their capacity of distributing the higher load across a huge area. Moreover, geogrids also find a spectrum of applications in the road & rail development sector due to lower maintenance costs, less time utilization, and the thickness of road and rail tracks.

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Our Free Sample Report Consists of the Following:

• Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
• The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
• About 205+ Pages Research Report (Including Recent Research)
• Provide detailed chapter-by-chapter guidance on Request
• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
• Includes Tables and figures have been updated
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
• Zion Market Research research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Geogrid Market: Growth Dynamics

A surge in infrastructural and construction activities with rapid urbanization has provided an impetus to the growth of the global geogrid market. In addition, depletion in the road construction and maintenance costs have paved a way for the expansion of the global industry. Apart from this, a prominent increase in infrastructural expenditure across the countries such as the U.S., China, Russia, the UK, Canada, and Germany will prop up the demand for geogrid and will boost the global geogrid business. With an increase in rail and airport projects in emerging economies, the market for geogrid is predicted to gain traction in the years ahead.

However, the lack of availability of skilled workforce can put brakes on the growth of the geogrid industry globally. Nonetheless, an increase in awareness about the benefits of using the product will generate new opportunities for growth for the global geogrid market.

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Geogrid Market: Segmentation Analysis

The global geogrid market is divided into material, product, application, and region.

On basis of material, the global geogrid industry is sectored into HDPE, polypropylene, and polyester segments. Furthermore, the polyester segment, which dominated the global market share in 2021, is predicted to continue its market domination even during the assessment period. The growth of the segment over the projected timeframe is credited to its lightweight, elasticity, and longevity. In addition to this, polyester offers excellent heat resistance and it finds extensive applications in mining, tunnels, anti-snow barriers, and wall constructions.

Based on product, the global geogrid industry is divided into uniaxial, biaxial, and multiaxial segments. Moreover, the biaxial segment accounted for the major share of the global geogrid market in 2021. The segmental growth can be attributed to the ability of biaxial geogrids in providing cost-efficient solutions to road paving and soil reinforcement activities. In addition to this, biaxial geogrid can be deployed during unfavorable conditions including polluted soils, shallowly buried utilities, weak subgrades, and heavy loads.

The global Geogrid Market is segmented as follows:

By Material

• HDPE
• Polypropylene
• Polyester

By Product Built

• Uniaxial
• Biaxial
• Multiaxial

By Application

• Road Construction
• Railroad
• Soil Reinforcement
• Others

Browse the full “Geogrid Market By Material (HDPE, Polypropylene, And Polyester), By Product Built (Uniaxial, Biaxial, And Multiaxial), By Application (Road Construction, Railroad, Soil Reinforcement, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” Report at https://www.zionmarketresearch.com/report/geogrid-market

Competitive Landscape

Some of the main competitors dominating the global Geogrid Market include - 

• Solmax International Inc.
• Tensar Corporation
• Huesker Synthetic GmBH
• Reed & Graham Inc.
• BPM Geosynthetics
• Strata Systems Inc.
• Naue GmBH and Co. Kg
• BOSTD Geosynthetics Qingdao Ltd.
• Tmp Geosynthetics

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Geogrid Market is likely to expand at a CAGR of around 4.71% during the forecast period (2022-2030).
• In terms of revenue, the Geogrid Market size was valued at around US$ 1.15 billion in 2021 and is projected to reach US$ 2.01 billion by 2030.
• The market is projected to expand at a significant rate due to massive demand for geogrid due to its beneficial features such as high ductile strength and ease of handling
• Based on material, the polyester segment accounted for the largest market share in the year 2021
• On basis of application, road construction and railroad were the leading segments in 2021
• On the basis of region, the North American region was the leading revenue generator for the global market in 2021

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Key questions answered in this report:

• What is the market size and growth rate forecast for Geogrid Market industry?
• What are the main driving factors propelling the Geogrid Market forward?
• What are the leading companies in the Geogrid Market Industry?
• What segments does the Geogrid Market cover?
• How can I receive a free copy of the Geogrid Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2022−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Material, By Product Built, By Application, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The North American region is predicted to account majorly for the global geogrid market share by 2030. The growth of the regional market can be attributed to a rise in the production of geogrids in the countries such as the U.S. In addition to this, the humungous presence of giant players such as Tensor Corporation, Propex Operating Company, GSE Environmental, LLC, and Strata Systems in the region is likely to proliferate the regional market size. An increase in funding of infrastructural ventures in the region will promote the growth of the geogrid industry in North America.

Moreover, the Asia-Pacific region is anticipated to register the fastest CAGR of about 10.0% over the assessment timeline. The growth of the regional market can be attributed to an expanding customer base in emerging economies such as China and India along with the increase in infrastructural development projects as well as refurbishment ventures in the construction sector in these countries.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In September 2021, Tensar Corporation, a key player in the global geogrid business, launched Next Generation InterAxTM Geogrid product. Reportedly, it is the next generation of geogrid products of Tensar and demonstrates rapid advancement of the firm in geogrid technology. The launching of the new product will contribute immensely to the company’s revenue as well as towards its existing line of products. The move will contribute remarkably to the expansion of the geogrid business and its revenue globally.
• In February 2022, Freudenberg Performance Materials, a key supplier of high-performing geosynthetics for civil engineering activities in Germany, introduced a novel geogrid composite. The initiative will help in enhancing the efficiency of construction activities and boost the demand for geogrids in Germany and across Europe.

Report Scope

To know an additional revised 2022 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/geogrid-market

FREQUENTLY ASKED QUESTIONS

• Which key factors will influence Geogrid Market growth over 2022-2030?
• What will be the value of the Geogrid Market during 2022-2030?
• Which region will contribute notably towards the Geogrid Market value?
• Which are the major players leveraging the geogrid market growth?

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