All updated as on -
At a CAGR of about 8.3%, the worldwide geofoam market is projected to reach a value of $1,156,000,000 by the year 2031.
A "foam" composed of multiple closed cells that are gas-filled is the end result of an expansion process for polymeric polystyrene, and this process is what makes geofoam. The skeletal nature of the cell walls is characterized by the unexpanded polymeric material. The final product is massive yet remarkably lightweight blocks that have many potential uses as lightweight fill. A geofoam can be either expanded or extruded, with the former being the more common variant. As a structural backfill, EPS geofoam—a lightweight foam material available in blocks—is the most used type of geofoam.
Travel and tourism, manufacturing, construction, and aviation were just a few of the financial and industrial sectors hit hard by the COVID-19 pandemic. There has been an effect on the geofoam end-use industries, including airport building and road construction and paving. The widespread implementation of curfews and lockdowns in an effort to contain the coronavirus had a devastating effect on several industries, including the construction industry. Airport regions around the world have also been impacted by the worldwide ban on domestic and international flights.
When compared to more conventional fill materials, geofoams have superior physical qualities at a reasonable price, allowing engineers to complete projects on schedule and under budget. Because geofoams are easily put by hand using basic hand tools, construction labor needs are reduced or eliminated, and operation and investment costs are also eliminated. Geofoams have these and other desirable properties that make them a better option than more conventional soil stabilizing materials.
Even though geofoams can cut down on building project costs and time, they aren't yet widely used because of their flammability and vulnerability to chemical changes. If unchecked, untreated geofoams can easily catch fire. Open flame procedures, such welding and cutting, necessitate the implementation of suitable safety measures at construction sites. Furthermore, geofoams can also undergo chemical transformations. When geofoams are mixed with petroleum solvents, they transform into a glue-like substance and their characteristics are altered. Their capacity to bear high weights is consequently diminished. On top of that, geofoams aren't immune to the ill effects of things like ultraviolet light, buoyancy, and insect infestation; all of these things can degrade geofoams to the point where they cause structures to collapse after extended exposure.
Because of their low density and excellent compressive strength-to-weight ratio, geofoams are finding more and more uses in the building, railroad, and industrial sectors. There has been a surge in demand for geofoam due to the growing number of trains and roads in developing Asian nations like India and China. The construction sector is seeing a rise in the geofoam market due to the material's cost-effective solutions and the time it saves by being easy to work with and cut into smaller pieces.
Because it is so easy to work with, geofoam is a must-have for any building project. A growing number of people are turning to geofoam as a green building material because it is almost entirely composed of air and does not include any greenhouse gasses like CFCs, HCFCs, formaldehyde, or HFCs. On the other hand, geofoam's flammability and potential fire concerns could put a damper on the geofoam business. Despite some drawbacks, such as flammability, the benefits of geofoam as a filling material far surpass those of other building materials, hence the geofoam market is anticipated to continue growing at a substantial rate.
The Asia-Pacific area is one of the developing world's most promising markets for geofoams. This can be explained by the uptick in commercial construction activities and the number of road construction projects. Market leaders expect South Korea, Vietnam, Indonesia, and India to attract investments because to their large consumer bases and supportive governments. The government intends to expand public infrastructure to back these market heavyweights. Because of this, geofoams might become more popular in that area. The opposite is true; one of the main things that would slow down the market is the unpredictability of raw material costs in emerging economies.
Report Coverage
Global Geofoam research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Geofoam report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Geofoam competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Geofoam market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Geofoam market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Geofoam market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Groupe Legerlite Inc. (Canada), Harbor Foam Inc. (U.S.), Expol Ltd. (New Zealand), Insulation Corporation of America (U.S.), ACH Foam Technologies, LLC (U.S.), Big Sky Insulations, Inc. (U.S.), Amvic Building Systems (Canada), Beaver Plastics (Canada), Poly Molding LLC (U.S.), ThermaFoam, LLC (U.S.), Carlisle Construction Materials (U.S.)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Geofoam market based on the below-mentioned segments:
Global Geofoam Market, By Type
Expanded Polystyrene (EPS) Geofoam
Extruded Polystyrene (XPS) Geofoam
Global Geofoam market, By Application
Road and Highway Construction
Building and Infrastructure
Airport Runways and Taxiways
Global Geofoam market, Regional Analysis
A "foam" composed of multiple closed cells that are gas-filled is the end result of an expansion process for polymeric polystyrene, and this process is what makes geofoam. The skeletal nature of the cell walls is characterized by the unexpanded polymeric material. The final product is massive yet remarkably lightweight blocks that have many potential uses as lightweight fill. A geofoam can be either expanded or extruded, with the former being the more common variant. As a structural backfill, EPS geofoam—a lightweight foam material available in blocks—is the most used type of geofoam.
Travel and tourism, manufacturing, construction, and aviation were just a few of the financial and industrial sectors hit hard by the COVID-19 pandemic. There has been an effect on the geofoam end-use industries, including airport building and road construction and paving. The widespread implementation of curfews and lockdowns in an effort to contain the coronavirus had a devastating effect on several industries, including the construction industry. Airport regions around the world have also been impacted by the worldwide ban on domestic and international flights.
When compared to more conventional fill materials, geofoams have superior physical qualities at a reasonable price, allowing engineers to complete projects on schedule and under budget. Because geofoams are easily put by hand using basic hand tools, construction labor needs are reduced or eliminated, and operation and investment costs are also eliminated. Geofoams have these and other desirable properties that make them a better option than more conventional soil stabilizing materials.
Even though geofoams can cut down on building project costs and time, they aren't yet widely used because of their flammability and vulnerability to chemical changes. If unchecked, untreated geofoams can easily catch fire. Open flame procedures, such welding and cutting, necessitate the implementation of suitable safety measures at construction sites. Furthermore, geofoams can also undergo chemical transformations. When geofoams are mixed with petroleum solvents, they transform into a glue-like substance and their characteristics are altered. Their capacity to bear high weights is consequently diminished. On top of that, geofoams aren't immune to the ill effects of things like ultraviolet light, buoyancy, and insect infestation; all of these things can degrade geofoams to the point where they cause structures to collapse after extended exposure.
Because of their low density and excellent compressive strength-to-weight ratio, geofoams are finding more and more uses in the building, railroad, and industrial sectors. There has been a surge in demand for geofoam due to the growing number of trains and roads in developing Asian nations like India and China. The construction sector is seeing a rise in the geofoam market due to the material's cost-effective solutions and the time it saves by being easy to work with and cut into smaller pieces.
Because it is so easy to work with, geofoam is a must-have for any building project. A growing number of people are turning to geofoam as a green building material because it is almost entirely composed of air and does not include any greenhouse gasses like CFCs, HCFCs, formaldehyde, or HFCs. On the other hand, geofoam's flammability and potential fire concerns could put a damper on the geofoam business. Despite some drawbacks, such as flammability, the benefits of geofoam as a filling material far surpass those of other building materials, hence the geofoam market is anticipated to continue growing at a substantial rate.
The Asia-Pacific area is one of the developing world's most promising markets for geofoams. This can be explained by the uptick in commercial construction activities and the number of road construction projects. Market leaders expect South Korea, Vietnam, Indonesia, and India to attract investments because to their large consumer bases and supportive governments. The government intends to expand public infrastructure to back these market heavyweights. Because of this, geofoams might become more popular in that area. The opposite is true; one of the main things that would slow down the market is the unpredictability of raw material costs in emerging economies.
Report Coverage
Global Geofoam research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Geofoam report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Geofoam competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Geofoam market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Groupe Legerlite Inc. (Canada), Harbor Foam Inc. (U.S.), Expol Ltd. (New Zealand), Insulation Corporation of America (U.S.), ACH Foam Technologies, LLC (U.S.), Big Sky Insulations, Inc. (U.S.), Amvic Building Systems (Canada), Beaver Plastics (Canada), Poly Molding LLC (U.S.), ThermaFoam, LLC (U.S.), Carlisle Construction Materials (U.S.) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Geofoam Market from 2021 to 2031.
- Market Forecast for Geofoam Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Geofoam competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Geofoam
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Geofoam market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Geofoam market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Groupe Legerlite Inc. (Canada), Harbor Foam Inc. (U.S.), Expol Ltd. (New Zealand), Insulation Corporation of America (U.S.), ACH Foam Technologies, LLC (U.S.), Big Sky Insulations, Inc. (U.S.), Amvic Building Systems (Canada), Beaver Plastics (Canada), Poly Molding LLC (U.S.), ThermaFoam, LLC (U.S.), Carlisle Construction Materials (U.S.)
Primary Target Market
- Market Players of Geofoam
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Geofoam market based on the below-mentioned segments:
Global Geofoam Market, By Type
Expanded Polystyrene (EPS) Geofoam
Extruded Polystyrene (XPS) Geofoam
Global Geofoam market, By Application
Road and Highway Construction
Building and Infrastructure
Airport Runways and Taxiways
Global Geofoam market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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