North America Geogrid Market by Type (Uniaxial and Biaxial) and Application (Road Industry, Rail Road Stabilization, Soil Reinforcement, and Others): North America Opportunity Analysis and Industry Forecast 2020–2027
New York, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Geogrid Market by Type and Application : North America Opportunity Analysis and Industry Forecast 2020–2027" - https://www.reportlinker.com/p05955164/?utm_source=GNW
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.
Geogrid is a geo-synthetic material formed by joining intersecting ribs and is used to stabilize terrain. It is mainly made up of polymers such as polypropylene, high-density polyethylene, and polyester. It is used as a base reinforcement to reinforce retaining walls and subsoils below roads or structures. Moreover, it is available in three types such as homogeneous-type geogrid, textile-like geogrid, and laser-made geogrid. The digging up of sub-grade from other area and then filling up the required area with that soil is a very time taking and expensive practice. Geogrids are used as a replacement material for this practice. Its remarkable property, such as minimal elongation with high tensile strength and tensile modulus makes it applicable to be used as a reinforcement material.
Increase in the infrastructure developmental activities in emerging countries has led to rise in demand for geogrids in the market. Geogrids exceptional properties such as light weight, easy handling, and high-temperature stability are the other key drivers of the market. Furthermore, reduction in maintenance cycles and cost with the utilization of geogrid is expected to propel the market growth during the forecast period. However, lack of skilled workforce in developing economies hinders the growth of the geogrid market. Moreover, increase in awareness and surge in number of R&D activities toward geogrid are the factors projected to create opportunities for market players during the forecast period.
The North America geogrid market is segmented on the basis of type, application, and region. Based on type, the market is bifurcated into uniaxial and biaxial. Depending on application, North America geogrid market is divided into road industry, rail road stabilization, soil reinforcement, and others. Based on region, North America geogrid market analysis is done 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.
IMPACT OF COVID-19 ON MARKET
Price fluctuation plays an important factor in the market growth. 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
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the Geogrid market forecast along with the current and future market trends
- 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 global Geogrid industry for strategy building
- A comprehensive Geogrid market analysis covers factors that drive and restrain market growth
- The qualitative data in this report aims on market dynamics, trends, and developments
KEY MARKET SEGMENTS
• Road Industry
• Railroad Stabilization
• Soil Reinforcement
KEY MARKET PLAYERS
• Tensar Corporation
• Carthage Mills
• Properx Operating Company
• Strata System
• Tdm Group
• Tencate Geosynthetics
• Synteen Technical Fabrics
• Huesker US
• Layfield Group. Ltd.
Read the full report: https://www.reportlinker.com/p05955164/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001