The North America geogrid market is expected to grow from US$ 285. 12 million in 2020 to US$ 588. 36 million by 2028; it is estimated to grow at a CAGR of 9. 5% 2020-2028. In North America, the US has invested in the upgrade of infrastructure, which is going to drive the geogrid market.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Geogrid Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Application, Manufacturing Method" - https://www.reportlinker.com/p06103261/?utm_source=GNW
In Mexico, the transportation sector is growing at a steady rate which will lead to an increase in the road construction activities. The application of geogrid in subgrade stabilization as well as in the manufacturing of pavements will drive the geogrid market in the North American region. Geogrids are cost efficient solutions and they also reduce the maintenance cycles as compared to other materials, which leads to an increase in demand from the construction industry. When it is compared to metallic reinforced soil construction facing panels, the geogrid is 30% to 50% cost-effective as well as the maintenance cost which is associated with geogrid is almost negligible. This leads to a rise in the adoption of geogrid material for the application of soil reinforcement, railroad, and road construction activities. The cost-effectiveness which is associated with geogrid is expected to further drive its demand and help the geogrid market grow in the North American region.
In case of COVID-19, North America, especially the US, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of geogrid manufacturing activities.Downfall in other chemical and materials manufacturing sector 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 the discontinuation of geogrid manufacturing projects, thereby reducing the demand for geogrids.Similar trend was witnessed in other North American countries including Mexico, Canada, Panama, and Costa Rica.
However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of 2021.
Based on application, the road construction segment led the North America geogrid market in 2019.In the road construction segment, geogrid is mostly used in subgrade stabilization and base reinforcement.
In the base reinforcement application, geogrids are basically applied at the bottom or within the unbound layers of a flexible pavement system which helps in improving the load carrying capacity of the pavement which is subjected to repeated traffic.In subgrade stabilization applications, the geogrids are basically used to build a construction platform over the weak subgrades to carry the equipment and facilitate the construction of the pavement system without any excessive deformation of the subgrades.
Geogrids are also successful in reinforcing asphalt concrete (AC) overlays which is mostly regarding reflective crack retardation. Another benefit of using geogrids is that they develop an efficient interlock with the surrounding asphalt which helps in the prevention of cracks from opening even after penetrating full depth.
The overall North America geogrid market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the North America geogrid market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America geogrid market.Key companies operating in the market include 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
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