Press release
Geogrid Market in North America to see 7% CAGR over 2020-2027 | Key players are Carthage Mills, Tensar Corporation, Strata System, Properx Operating Company, Tdm Group, Maccaferri
geogrid market in North America
The report offers a detailed segmentation of the geogrid market in North America based on type, application, and country.
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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.
Based on type in the geogrid market in North America, 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.
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 industry, the road industry segment in the geogrid market in North America 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.
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Covid-19 scenario:
1. Geogrid manufacturers across the North America region have halted their production due to disrupted supply chain due to the Covid-19 pandemic.
2. 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.
3. U.S. is barring the trade relations with China, owing to its role and failure toward containing the spread of the coronavirus.
4. 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.
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