The Geofoam Market Size was valued at USD 880.51 million in 2022, and is expected to reach USD 1468.23 million by 2030, and grow at a CAGR of 6.6% over the forecast period 2023-2030. A product called geofoam is created by expanding polymeric polystyrene, which results in a "foam" made up of many sealed but gas-filled cells. The skeletal nature of the cell walls is the unexpanded polymeric material. Large, incredibly light blocks that can be layered one on top of the other to create lightweight fill in a variety of applications are the usual end product. Extruded polystyrene foam and expanded polystyrene foam are the two main varieties of geofoam. The most popular type of geofoam is EPS geofoam, a block-shaped, lightweight foam substance used as a structural backfill.
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Drivers:
Utilization of geofoam blocks in infrastructure construction.
High demand resulting from the development of roads.
Cheaper than conventional land stabilisation materials in price.
Restraints:
Price volatility for raw materials.
Sensitivity to petroleum solvents and flammability.
A lack of technical understanding and experience with geofoam.
Opportunity:
Growing infrastructure construction and geofoam technical advancements
Emerging economies' steadily expanding road infrastructure
Challenge:
Limited technical expertise and familiarity with geofoams in developing markets
The sector has experienced a decline in demand for its products as a result of the COVID-19 pandemic slowly spreading over a number of countries, leading to overcapacity. The usage of geofoam, however, has turned out to be helpful given that it can lower construction project costs and is effective during the COVID-19 outbreak. Construction companies can save money by using EPS geofoam instead of traditional building materials because it ships for less money. By using fewer construction workers for a shorter length of time, the use of geofoam can reduce the cost of labour.
For instance, using EPS geofoam for soil remediation allowed the rehabilitation of an office building in the Pacific Northwest to be completed two months earlier than expected and around USD 600,000 under budget. The Utah Department of Transportation claims that using EPS geofoam on a project to build four bridges over Interstate 80 resulted in a savings of more than USD 2.5 million.
By Type: Expanded Polystyrene: Lightweight, easily cut, and tapered expandable polystyrene foams are available. Applications for this product include slope stabilisation, compensating foundations, roofing and rooftop gardens, bridge underfill, pavement insulation, and road embankments. Extruded Polystyrene: Made from extruded polystyrene polymers, extruded polystyrene foam is a strong insulating material. The foam block is durable, has a rough surface, and has a poor heat conductivity.
By end Use:
Railways and Roads: Creating roads and highways is where geofoams are most frequently used. They are commonly used in applications such as building on unstable ground, stabilising foundations, building railway embankments, and building bridge abutments. Building & Construction: It has several applications, including foundation, insulation, slope stabilisation, and landscaping. It is frequently used as insulation for homes, businesses, rooftop oases, etc. Excellent thermal insulator geofoam may enable you to reduce your heating and cooling costs. Others: Among the various categories under the "Other" heading are utilities, maritime, loading docks, tanks, and refrigerated storage.
By Type
Expanded Polystyrene
Extruded Polystyrene
By End-Use
Road & Highway Construction
Building & Infrastructure
Airport Runway & Taxiways
Others (railway embankments and green roofs)
By Application
Structure Foundation
Embankments
Slope Stabilization
Insulation
Retaining Structures
Others (void filling, stadium & theatre seating, and impact protection)
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The five significant geographic areas examined in the global geofoam market are North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The Asia-Pacific region's rapid population growth is projected to contribute to the anticipated rise in the use of geofoam for infrastructure repair during the projection period. The existing infrastructure is under pressure from the growing population and is rapidly deteriorating because of the usage of cheap materials. For the foreseeable future, these constructions will require routine maintenance, which will raise the need for geofoam.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
ThermaFoam, LLC (U.S.), ACH Foam Technologies, LLC (U.S.), Harbor Foam Inc. (U.S.), Amvic Building Systems (Canada), Insulation Corporation of America (U.S.), Big Sky Insulations, Inc. (U.S.), Carlisle Construction Materials (U.S.),Beaver Plastics (Canada), Groupe Legerlite Inc. (Canada), Expol Ltd. (New Zealand).
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 880.51 Million |
| Market Size by 2030 | US$ 1468.23 Million |
| CAGR | CAGR of 6.6% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By type (Expanded Polystyrene, Extruded Polystyrene) • By end-use (Road & Highway Construction, Building & Infrastructure, Airport Runway & Taxiways, Others (railway embankments and green roofs)) • By application (Structure Foundation, Embankments, Slope Stabilization, Insulation, Retaining Structures, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | ThermaFoam, LLC (U.S.), ACH Foam Technologies, LLC (U.S.), Harbor Foam Inc. (U.S.), Amvic Building Systems (Canada), Insulation Corporation of America (U.S.), Big Sky Insulations, Inc. (U.S.), Carlisle Construction Materials (U.S.),Beaver Plastics (Canada), Groupe Legerlite Inc. (Canada), Expol Ltd. (New Zealand) |
| DRIVERS | • Utilization of geofoam blocks in infrastructure construction. • High demand resulting from the development of roads. • Cheaper than conventional land stabilisation materials in price. |
| Restraints | • Price volatility for raw materials. • Sensitivity to petroleum solvents and flammability. • A lack of technical understanding and experience with geofoam. |
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: The sector has experienced a decline in demand for its products as a result of the COVID-19 pandemic slowly spreading over a number of countries, leading to overcapacity. The usage of geofoam, however, has turned out to be helpful given that it can lower construction project costs and is effective during the COVID-19 outbreak. Construction companies can save money by using EPS geofoam instead of traditional building materials because it ships for less money. By using fewer construction workers for a shorter length of time, the use of geofoam can reduce the cost of labour.
Ans: Limited technical expertise and familiarity with geofoams in developing markets are the challenges faced by the Geofoam Market.
Ans: Price volatility for raw materials, Sensitivity to petroleum solvents and flammability and A lack of technical understanding and experience with geofoam are the restraints for Geofoam Market.
Ans: Geofoam Market Size was valued at USD 826 million in 2021, and expected to reach USD 1292.2 million by 2028, and grow at a CAGR of 6.6% over the forecast period 2022-2028.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Geofoam Market Segment, By type
8.1 Expanded Polystyrene
8.2 Extruded Polystyrene
9.Geofoam Market Segment, By end-use
9.1 Road & Highway Construction
9.2 Building & Infrastructure
9.3 Airport Runway & Taxiways
9.4 Others
10.Geofoam Market Segment, By application
10.1 Structure Foundation
10.2 Embankments
10.3 Slope Stabilization
10.4 Insulation
10.5 Retaining Structures
10.6 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profile
12.1 ThermaFoam, LLC (U.S.)
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 ACH Foam Technologies, LLC (U.S.)
12.3 Harbor Foam Inc. (U.S.)
12. 4 Amvic Building Systems (Canada)
12.5 Insulation Corporation of America (U.S.)
12.6 Big Sky Insulations, Inc. (U.S.)
12.7 Carlisle Construction Materials (U.S.)
12.8 Beaver Plastics (Canada)
12.9 Groupe Legerlite Inc. (Canada)
12.10 Expol Ltd. (New Zealand)
13.Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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