Report : North America Geogrid Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Uniaxial Geogrid, Biaxial Geogrid, and Triaxial Geogrid), Application (Road Construction, Railroad Stabilization, and Soil Reinforcement), Manufacturing Method (Extruded, Knitted/Woven, and Bonded)
Road Construction Segment to Dominate North America Geogrid Market during 2020-2028
According to a new market research study on “North America Geogrid Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Application, Manufacturing Method and Country,” is expected to reach US$ 588.36 million by 2028 from US$ 285.12 million in 2020. The market is estimated to grow at a CAGR of 9.5% from 2020 to 2028. The report provides trends prevailing in the North America geogrid market along with the drivers and restraints pertaining to the market growth. Increase in infrastructural activities and superior properties associated with geogrid are the major factors driving the growth of the North America geogrid market. However, the regulations related to raw materials and challenges in product specification may hinder the growth of North America geogrid market.
In case of COVID-19, in North America, especially the US, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of geogrid manufacturing activities. Downfall of 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 North American countries, i.e., Mexico, Canada, Panama, and Costa Rica. 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 North America 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 North America geogrid market. Based on application, the North America 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 North America geogrid is broken into road extruded, knitted/woven, and bonded. In 2019, the extruded segment held the largest share in North America geogrid market. Furthermore, in this present scenario of COVID 19 pandemic, the North America geogrid market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the North American countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for geogrid.
BPM Geosynthetics, Huesker Synthetic GmbH, Tensar Corporation, NAUE GmbH & Co. KG, Carthage Mills, Inc, Solmax, Bostd Geosynthetics Qingdao Ltd., Thrace Group, Tmp Geosynthetics, Strata Systems, Inc., and Reed & Graham, Inc. are some of the leading companies in the North America 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 North America Geogrid market as follows:North America Geogrid Market – By Type
- Uniaxial Geogrid
- Biaxial Geogrid
- Triaxial Geogrid
- Road Construction
- Railroad Stabilization
- Soil Reinforcement
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