North America Geogrid Market 2020 Segmentation, Demand, Growth, Trend, Opportunity and Forecast to 2027
Surge in infrastructure development activities across the U.S. and Mexico and superior physical properties of geogrid drive the growth of the North America geogrid market. However, unavailability of skilled workers is anticipated to restrain the growth of the market. Furthermore, surge in adoption of geogrid material in soil reinforcement is expected to provide new growth opportunities during the forecast period.
• Geogrid manufacturers across the North America region have halted their production due to disrupted supply chain due to the Covid-19 pandemic.
• The demand for geogrid is expected to decline as infrastructure and road & rail network development activities in the U.S. and Mexico has been halted.
• U.S. is barring the trade relations with China, owing to its role and failure toward containing the spread of the coronavirus. Thus, many geogrid manufacturers are shifting their production units from China to their native country. This transition is expected to increase labor costs and other operating expenses, which would surge the price of geogrid in the future.
The report offers a detailed segmentation of the North America geogrid market based on type, application, and country.
Based on type, the biaxial segment contributed to the largest share in 2019, accounting for more than four-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is also estimated to portray the highest CAGR of 7.0% during the forecast period.
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Based on industry, the road industry segment accounted for the largest share in 2019, holding more than one-third of the total share, and is expected to maintain the largest share throughout the forecast period. However, the soil reinforcement segment is expected to register the highest CAGR of 7.3% from 2020 to 2027.
Based on country, the U.S. contributed the highest share, accounting for more than three-fourths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Canada is expected to grow at the highest CAGR of 7.2% from 2020 to 2027.
Leading market players analyzed in the research include Carthage Mills, Tensar Corporation, Strata System, Properx Operating Company, Tdm Group, Maccaferri, Synteen Technical Fabrics, Tencate Geosynthetics, Layfield Group. Ltd., and Huesker US.
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