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 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.
By Product Type
Biaxial is projected as the fastest growing segment
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.
By Application
Soil Reinforcement is projected as the fastest growing segment
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.
By Region
Asia Pacific would exhibit an CAGR of 5.6% during 2020-2027
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
| Aspects | Details |
 By Type |
|
 By Application |
|
 By Region |
|
 Key Market Players | LAYFIELD GROUP. LTD., TENCATE GEOSYNTHETICS AMERICAS, SYNTEEN TECHNICAL FABRICS, PROPEX OPERATING COMPANY, LLC, TENSAR CORPORATION, TDM GROUP, Huesker US, STRATA SYSTEMS, INC., MACCAFERRI INC., CARTHAGE MILLS |
Analyst Review
According to the perspectives of CXOs of leading companies, the popularity of geogrid is expected to witness a significant increase in both the developed and the developing economies during the forecast period in response to the increasing several infrastructural activities. Some of the factors such as increase in the infrastructure development activities, reduction in maintenance cycle & cost, and superior properties associated with geogrid are driving the growth of the geogrid market. However, lack of skilled workforce to handle or to design geogrid hampers the growth of the geogrid market. Among the several applications of geogrid, the road industry application currently holds the largest market share and is projected to maintain the same during the forecast period. According to the CXOs, the demand for geogrid is witnessing significant growth in all the regions, owing to its advantages such as easy handling, high tensile strength, light weight, and high temperature stability.
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.
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, Brockwhite Construction Materials, US Fabrics, Inc., Tencate Geosynthetics, and Nilex, Inc.
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.
Road industry is projected to increase the demand for Geogrid Market
Recently, economies are highly investing in transportation and building construction, which increases the demand for the geogrids in these industries
Biaxial geogrid is the most influencing segment in the global Geogrid market report
Soil enforcement applications are expected to drive the adoption of Geogrid
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
Loading Table Of Content...
