Europe Geogrids Market Size

Europe Geogrids Market Size

Europe Geogrids Market size was over USD 310 million in 2017 and industry expects consumption above 310 million square meters by 2024.

Rising number of infrastructure projects owing to increasing investments and economic recovery will drive Europe geogrids market demand. These products exhibit high lateral restraint, good tensile strength, and load-bearing capabilities which makes them suitable for construction sectors. Increasing construction spending mainly in Germany, UK, Poland, and Russia owing to rising public infrastructure projects such as rails, bridges, harbors, roadways, and airports is likely to fuel product demand.

Construction practices and pavement designs need high quality materials to fulfil various infrastructure standards. Supportive EU legislation and increased funding efforts have improved railway industry competitiveness which is likely to rise environmental awareness, thereby increasing transportation desirability. European construction industry grew at over 2.5% and 3.5% in 2016 and 2017 respectively. Europe’s road infrastructure market is likely to grow significantly at over 15% in the future timeframe on account of strengthening economy, rising investment and jobs, primarily led by UK, Norway and Poland industry growth. In July 2017, the UK Government approved construction contracts which was valued at over USD 8.5 billion for the High Speed 2 rail infrastructure project, which may stimulate geogrid demand pertaining to the reduction in ballast deformation and tracking of settlement and maintenance costs.

Growing demand in environmental projects mainly dealing with slope protection and erosion control should drive industry growth. Europe soil erosion exceeds USD 1.45 billion annually and affects over 10 million hectares of agricultural land. Soil erosion can decline crop productivity, damage plantations, and increase fertilizer costs. Geogrids are increasingly used to minimize erosion damage and impart permanent protection & slope stability in hillsides, embankments, and stream & river banks. Growing consumer awareness regarding product applications for flood-prone areas in addition to their eco-friendly nature will further accelerate Europe geogrids market growth.

HDPE, polyester and polypropylene are the key raw materials used in production process. PP is preferably used ingredients owing to its cost effectiveness, chemical and pH range resistance. Geogrids are damaged during material creep, exposure to climatic conditions, mainly UV light and low temperatures, and installation process may hinder Europe geogrids market demand. The degree of damage varies with temperature at the site during installation which may further restrain industry growth.