Europe Geogrid Market
Road Construction Segment to Dominate Europe Geogrid Market during 2020-2028
According to a new market research study on “Europe Geogrid Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Application, Manufacturing Method and Country,” is expected to reach US$ 488.57 million by 2028 from US$ 250.90 million in 2020. The market is estimated to grow at a CAGR of 8.7% from 2020 to 2028. The report provides trends prevailing in the Europe geogrid market along with the drivers and restraints pertaining to the market growth. An upsurge in the infrastructural activities and superior properties of geogrid are the major factors driving the growth of the Europe geogrid market. However, the regulations related to raw materials coupled with challenges in product specification may hinder the growth of Europe geogrid market.
In case of COVID-19, in Europe, especially France, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of geogrid manufacturing activities. Downfall in other chemical and materials manufacturing sectors has subsequently impacted the demand for geogrid during the early months of 2020. Moreover, decline in the overall reinforcement materials manufacturing activities has led to discontinuation of geogrid manufacturing projects, thereby reducing the demand for geogrid. Similar trend was witnessed in other European countries, i.e., Russia, UK, Italy, Germany and Spain. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
The market for Europe geogrid is segmented into type, application, manufacturing method and country. Based on type, the market is segmented into uniaxial geogrid, biaxial geogrid, and triaxial geogrid. In 2019, the biaxial geogrid segment held the largest share in Europe geogrid market. Based on application, the Europe geogrid is bifurcated into road construction, railroad stabilization, and soil reinforcement. The soil reinforcement segment is expected to be the fastest growing segment over the forecast period. Based on manufacturing method, the Europe geogrid is broken into road extruded, knitted/woven, and bonded. In 2019, the extruded segment held the largest share in Europe geogrid market. Furthermore, in this present scenario of COVID 19 pandemic, the Europe geogrid market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the European countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for geogrid.
Tensar Corporation, Solmax, Huesker Synthetic GmBH, Naue GmBH and Co. Kg, Sia Pietrucha Sp. Z O.O, Tmp Geosynthetics, BPM Geosynthetics, Bostd Geosynthetics Qingdao Ltd, Reed & Graham, Inc., Strata Systems, Inc., and Wrekin Products are some of the leading companies in the Europe geogrid market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The report segments the Europe Geogrid Market as follows:
Europe Geogrid Market – By Type
Europe Geogrid Market – By Application
Europe Geogrid Market – By Manufacturing Method
Europe Geogrid Market – By Country
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