North America Geogrid Market

The North America geogrid market size was valued at $282.0 million in 2019, and is anticipated to generate $408.3 million by 2027. The market is projected to experience growth at a CAGR of 7.0% from 2020 to 2027.

North America is the most affected region during the COVID-19 outbreak. U.S. alone has the highest number of COVID-19 affected people. The outbreak has impacted the demand-supply chain as many production houses have halted operations. This is anticipated to hamper the market growth during corona crisis

Geogrid is a type of geosynthetic material made from polymers such as polyester, polyethylene, polypropylene, and others. It is increasingly used in the civil applications as a reinforcing or stabilizing material. Retaining walls, dams, steep slopes, and other structures are the areas of soil reinforcements where geogrid is used. It can be used for stabilizing material in the pavements of the roads, railroads, and other areas. In addition, geogrid can also be used as a separator layer reducing the inclusion of the material into a soft sub-grade.

Increase in the demand from the construction and building infrastructure industry fuels the growth of the geogrid market. In North America, the U.S. is investing in upgrading the infrastructure, which results in the growth of the geogrid market in this region. In addition, Mexico transportation sector is growing at a significant rate, owing to increase in road construction activities. The use of geogrid in pavements, soil reinforcement, and road industry reduces the maintenance cost and cycles, which is the key factor that propels the growth of the geogrid market in this sector. Geogrid provides cost savings and reduced maintenance cycles as compared to other structural material, which increases the demand for geogrid products from the construction industry. As compared to metallic reinforced soil construction facing panels, geogrid is 30% to 50% cost-effective. Besides this, the maintenance cost associated with geogrid is almost negligible. This leads to increased adoption of geogrid material in soil reinforcement, railroad, and road construction applications. The cost-effectiveness associated with geogrid is anticipated to further drive its demand and its impact is expected to be significant on the market during the forecast period.

The North America geogrid market is segmented on the basis of type, application, and region. On the basis of type, the market is bifurcated into uniaxial and biaxial. By application, the market is segmented into road industry, rail road stabilization, soil reinforcement, and others. Based on country, the market is analyzed across the U.S., Canada, and Mexico.

Top players in the market are investing huge capital in R&D activities to develop enhanced products to cater to the current demands. Some of the major players in the geogrid market are Tensar Corporation, Carthage Mills, Properx Operating Company, Strata System, Maccaferri, Tdm Group, Tencate Geosynthetics, Synteen Technical Fabrics, Huesker US, and Layfield Group. Ltd. 

North America Geogrid Market By Type 

By type, the biaxial segment dominated the market in 2019, and is projected to remain the fastest-growing segment. Biaxial geogrids find applications in paved and unpaved roads, industrial yards, foundation reinforcement, working platforms, and car parks. Such applications increase the demand for biaxial geogrids.

Geogrid Market, By Application

By application, the road industry segment accounted for around 36.8% of the North America geogrids market share. This is owing to increase in road construction projects across the region, which boosts the demand for geogrid to strengthen the pavement support layers. Pavement support layers such as subgrade or subbase can be strengthened with the use of polymeric material geogrid, owing to its high tensile strength.

Geogrid Market, By Country

By country, US is projected to be the mature market and Canada is projected to propel with significant growth rate. Canada is a developed country in the region and has registered a significant share in the North America geogrid market. It is also expected to grow fastest during the forecast period. The increased investments in the construction and public infrastructure drives the growth of the geogrid market in the country.

Key Benefits For Stakeholders

• The report provides an in-depth analysis of the geogrid market trends along with the current and future North America geogrid market forecast.
• This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
• Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the geogrid industry for strategy building.
• A comprehensive geogrid market analysis covers factors that drive and restrain the North America geogrid market growth.
• The qualitative data in this report aims on market dynamics, trends, and developments.

Impact Of Covid-19 On The Geogrid Market

North America is the most affected region during the COVID-19 outbreak. It recorded the highest number of infected people and higher fatalities. U.S. alone has the highest number of COVID-19 affected people. The outbreak has impacted the demand-supply chain as many production houses have halted operations. Moreover, the fear for the disease has also made people to stay at home and deny going to offices and workplace. 

Since the pandemic, the prices of crude oil have soared. Moreover, the availability of raw materials due to disruption in supply demand chain has led to hike in prices of limited stock available in the market. Thus, COVID-19 has led to increase in prices for the geogrids.

 North America Geogrid Market Report Highlights