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South America Geogrid Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Application, Manufacturing Method

South America Geogrid Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Application, Manufacturing Method

  • June 2021
  • 103 pages
  • ID: 6103305
  • Format: PDF
  • The Insight Partners

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The South America geogrid market is expected to grow from US$ 49.68 million in 2020 to US$ 90.65 million by 2028; it is estimated to grow at a CAGR of 7.8% from 2020 to 2028. The infrastructure projects in South America require geogrids for their construction activities. Apart from this, the region also has several pending infrastructure projects related to transportation. Countries like Chile and Peru have inadequate transport facilities, and there is a need for ports, highways, and rails in these countries. Thus, the increasing demand for geogrids is expected to boost their use in constructions in the South American region. The approximate value of the infrastructure projects in 2018 was US$ 829.3 billion, which included rail projects worth US$ 204.3 billion. The government also focuses on various sustainable infrastructure projects in different sectors including rail, energy, oil & gas, urban mass transit, ports, renewable energy, and social infrastructure to meet the demands of the population growth. This will be one of the main factors driving the construction market in this region, which, in turn, will fuel the growth of the geogrid market in South America.

In case of COVID-19, South America, especially Brazil, 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 sectors 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 South American countries such as Argentina, Colombia, Peru, Chile, and Ecuador.

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 South 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 South 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 South 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 South America geogrid market.Key companies operating in the market include Tensar Corporation; Carthage Mills; Huesker Synthetic GmBH; Naue GmBH And Co.

Kg; Tmp Geosynthetics; BPM Geosynthetics; Bostd Geosynthetics Qingdao Ltd; Strata Systems, Inc.; and Reed & Graham Inc.

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