Geofoams Market
Geofoams Market Forecasts to 2030 - Global Analysis By Type (Expanded Polystyrene (EPS) Geofoams and Extruded Polystyrene (XPS) Geofoams), By Application (Road & Highway Construction, Airport Runway & Taxiways, Building & Infrastructure and Other Applications), End User and By Geography
According to Stratistics MRC, the Global Geofoams Market is accounted for $878.85 million in 2023 and is expected to reach $1458.06 million by 2030 growing at a CAGR of 7.5% during the forecast period. Geofoams are lightweight, engineered materials made from expanded polystyrene (EPS) and extruded polystyrene (XPS). Used extensively in civil engineering and construction, geofoams offer excellent compressive strength while significantly reducing dead loads. They are employed in various applications, providing efficient and cost-effective solutions for soil stabilization and settlement reduction.
Market Dynamics:
Driver:
Increasing infrastructure development
Geofoams offer lightweight, durable, and cost-effective solutions for various infrastructure applications, including roadways, bridges, embankments, and railways. Their superior load-bearing capacity, stability, and resistance to moisture make them attractive for engineers and contractors seeking efficient construction materials. As governments and private sectors invest in expanding and upgrading infrastructure, the demand for geofoams continues to grow, driving market expansion and adoption.
Restraint:
High initial costs
While geofoams offer numerous advantages, such as lightweight construction, excellent load-bearing capacity and environmental sustainability, their high initial costs pose a significant restraint on the market. Compared to traditional fill materials, geofoams typically require a higher upfront investment, which can deter potential buyers, particularly in regions with budget constraints or conservative procurement practices. Additionally, the perceived risk associated with adopting a relatively new construction material at a higher cost may lead to resistance from project stakeholders, which may limit market expansion.
Opportunity:
Increasing focus on sustainability and green building practices
As environmental concerns grow and regulations become stricter, there's a rising demand for construction materials that minimize environmental impact. Geofoams, being recyclable, lightweight, and energy-efficient, align well with sustainability goals. They reduce the need for excavation, lower transportation costs due to their lightweight nature, and offer superior insulating properties, contributing to energy savings in buildings. Moreover, their eco-friendly characteristics appeal to environmentally conscious consumers and organizations seeking green building certifications.
Threat:
Substitution by alternatives
Traditional fill materials, geosynthetics, and lightweight aggregates offer competition to geofoams. If these alternatives offer comparable performance at a lower cost or are more readily available, they may be preferred by buyers. Additionally, advancements in alternative materials could further erode the market share of geofoams.
Covid-19 Impact:
The COVID-19 pandemic has impacted the geofoams market by disrupting supply chains, leading to material shortages and delayed project timelines. Construction activities were slowed down or halted in many regions due to lockdown measures and economic uncertainties. Furthermore, reduced government spending on infrastructure projects and delays in project approvals have contributed to a decrease in demand for geofoams.
The extruded polystyrene (XPS) geofoams segment is expected to be the largest during the forecast period
The extruded polystyrene (XPS) geofoams segment is anticipated to lead the market during the forecast period due to its superior properties such as high compressive strength, moisture resistance, and thermal insulation capabilities. XPS geofoams are widely used in various applications, including road construction, embankment stabilization, and foundation support. Additionally, the growing preference for XPS geofoams over other materials due to their durability and ease of installation further contributes to the segment's dominance in the market.
The building & infrastructure segment is expected to have the highest CAGR during the forecast period
The building and infrastructure segment is forecast to experience the highest compound annual growth rate during the forecast period due to increasing investments in construction projects worldwide. Geofoams are extensively used in building foundations, road construction, embankments, and other infrastructure applications to improve soil stability, reduce settlement, and provide lightweight fill material. Moreover, the growing emphasis on sustainable and cost-effective construction practices further drives the adoption of geofoams in the building and infrastructure sectors, fueling their rapid growth.
Region with largest share:
Over the forecast period, North America is positioned to dominate the geofoams market due to various factors. These include robust infrastructure development initiatives, particularly in the United States and Canada, coupled with stringent environmental regulations promoting the use of sustainable construction materials. Additionally, increasing investments in road construction, building foundations, and other infrastructure projects further drive the demand for geofoams in the region.
Region with highest CAGR:
During the forecast period, the Asia Pacific region is anticipated to witness rapid expansion in the geofoams market. This growth is propelled by increasing urbanization, population growth, and infrastructure development initiatives across countries like China, India, and Southeast Asian nations. Rising investments in transportation, residential, and commercial construction projects drive the demand for lightweight and sustainable construction materials like geofoams. Additionally, favorable government policies and initiatives further stimulate market growth in the Asia Pacific region.
Key players in the market
Some of the key players in Geofoams Market include ACH Foam Technologies, Atlas EPS, Carlisle Construction Materials, DuPont, Expol Ltd., Groupe Legerlite Inc., Insulation Corporation of America (ICA), Jablite, KANEKA Corporation, Plasti-Fab Ltd., Poly Molding LLC, SABIC, Techno-Foam Products, Inc., Thermofoam S.p.A. and VersaTech, Inc.
Key Developments:
In January 2024, DuPont and Point Blank Enterprises (PBE), a global leader in protective solutions for military and law enforcement professionals today announced an exclusive agreement to offer body armor made with Kevlar® EXO™ aramid fiber for North America State and Local Law Enforcement departments.
In January 2022, Intrepid announced that it served as the sole financial advisor to PFB Corporation (TSX: PFB) (PFB), a Canadian producer of expanded polystyrene (EPS) building insulation products, in connection with the sale of the company to an affiliate of The Riverside Company (Riverside), a U.S.-based private equity investor, for $24.10 per share in cash.
Types Covered:
• Expanded Polystyrene (EPS) Geofoams
• Extruded Polystyrene (XPS) Geofoams
Applications Covered:
• Road & Highway
• Airport Runway & Taxiways
• Building & Infrastructure
• Other Applications
End Users Covered:
• Landscapers
• Civil Engineers
• Architects
• Construction Companies
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Geofoams Market, By Type
5.1 Introduction
5.2 Expanded Polystyrene (EPS) Geofoams
5.3 Extruded Polystyrene (XPS) Geofoams
6 Global Geofoams Market, By Application
6.1 Introduction
6.2 Road & Highway
6.3 Airport Runway & Taxiways
6.4 Building & Infrastructure
6.5 Other Applications
7 Global Geofoams Market, By End User
7.1 Introduction
7.2 Landscapers
7.3 Civil Engineers
7.4 Architects
7.5 Construction Companies
7.6 Other End Users
8 Global Geofoams Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 ACH Foam Technologies
10.2 Atlas EPS
10.3 Carlisle Construction Materials
10.4 DuPont
10.5 Expol Ltd.
10.6 Groupe Legerlite Inc.
10.7 Insulation Corporation of America (ICA)
10.8 Jablite
10.9 KANEKA Corporation
10.10 Plasti-Fab Ltd.
10.11 Poly Molding LLC
10.12 SABIC
10.13 Techno-Foam Products, Inc.
10.14 Thermofoam S.p.A.
10.15 VersaTech, Inc.
List of Tables
1 Global Geofoams Market Outlook, By Region (2021-2030) ($MN)
2 Global Geofoams Market Outlook, By Type (2021-2030) ($MN)
3 Global Geofoams Market Outlook, By Expanded Polystyrene (EPS) Geofoams (2021-2030) ($MN)
4 Global Geofoams Market Outlook, By Extruded Polystyrene (XPS) Geofoams (2021-2030) ($MN)
5 Global Geofoams Market Outlook, By Application (2021-2030) ($MN)
6 Global Geofoams Market Outlook, By Road & Highway (2021-2030) ($MN)
7 Global Geofoams Market Outlook, By Airport Runway & Taxiways (2021-2030) ($MN)
8 Global Geofoams Market Outlook, By Building & Infrastructure (2021-2030) ($MN)
9 Global Geofoams Market Outlook, By Other Applications (2021-2030) ($MN)
10 Global Geofoams Market Outlook, By End User (2021-2030) ($MN)
11 Global Geofoams Market Outlook, By Landscapers (2021-2030) ($MN)
12 Global Geofoams Market Outlook, By Civil Engineers (2021-2030) ($MN)
13 Global Geofoams Market Outlook, By Architects (2021-2030) ($MN)
14 Global Geofoams Market Outlook, By Construction Companies (2021-2030) ($MN)
15 Global Geofoams Market Outlook, By Other End Users (2021-2030) ($MN)
16 North America Geofoams Market Outlook, By Country (2021-2030) ($MN)
17 North America Geofoams Market Outlook, By Type (2021-2030) ($MN)
18 North America Geofoams Market Outlook, By Expanded Polystyrene (EPS) Geofoams (2021-2030) ($MN)
19 North America Geofoams Market Outlook, By Extruded Polystyrene (XPS) Geofoams (2021-2030) ($MN)
20 North America Geofoams Market Outlook, By Application (2021-2030) ($MN)
21 North America Geofoams Market Outlook, By Road & Highway (2021-2030) ($MN)
22 North America Geofoams Market Outlook, By Airport Runway & Taxiways (2021-2030) ($MN)
23 North America Geofoams Market Outlook, By Building & Infrastructure (2021-2030) ($MN)
24 North America Geofoams Market Outlook, By Other Applications (2021-2030) ($MN)
25 North America Geofoams Market Outlook, By End User (2021-2030) ($MN)
26 North America Geofoams Market Outlook, By Landscapers (2021-2030) ($MN)
27 North America Geofoams Market Outlook, By Civil Engineers (2021-2030) ($MN)
28 North America Geofoams Market Outlook, By Architects (2021-2030) ($MN)
29 North America Geofoams Market Outlook, By Construction Companies (2021-2030) ($MN)
30 North America Geofoams Market Outlook, By Other End Users (2021-2030) ($MN)
31 Europe Geofoams Market Outlook, By Country (2021-2030) ($MN)
32 Europe Geofoams Market Outlook, By Type (2021-2030) ($MN)
33 Europe Geofoams Market Outlook, By Expanded Polystyrene (EPS) Geofoams (2021-2030) ($MN)
34 Europe Geofoams Market Outlook, By Extruded Polystyrene (XPS) Geofoams (2021-2030) ($MN)
35 Europe Geofoams Market Outlook, By Application (2021-2030) ($MN)
36 Europe Geofoams Market Outlook, By Road & Highway (2021-2030) ($MN)
37 Europe Geofoams Market Outlook, By Airport Runway & Taxiways (2021-2030) ($MN)
38 Europe Geofoams Market Outlook, By Building & Infrastructure (2021-2030) ($MN)
39 Europe Geofoams Market Outlook, By Other Applications (2021-2030) ($MN)
40 Europe Geofoams Market Outlook, By End User (2021-2030) ($MN)
41 Europe Geofoams Market Outlook, By Landscapers (2021-2030) ($MN)
42 Europe Geofoams Market Outlook, By Civil Engineers (2021-2030) ($MN)
43 Europe Geofoams Market Outlook, By Architects (2021-2030) ($MN)
44 Europe Geofoams Market Outlook, By Construction Companies (2021-2030) ($MN)
45 Europe Geofoams Market Outlook, By Other End Users (2021-2030) ($MN)
46 Asia Pacific Geofoams Market Outlook, By Country (2021-2030) ($MN)
47 Asia Pacific Geofoams Market Outlook, By Type (2021-2030) ($MN)
48 Asia Pacific Geofoams Market Outlook, By Expanded Polystyrene (EPS) Geofoams (2021-2030) ($MN)
49 Asia Pacific Geofoams Market Outlook, By Extruded Polystyrene (XPS) Geofoams (2021-2030) ($MN)
50 Asia Pacific Geofoams Market Outlook, By Application (2021-2030) ($MN)
51 Asia Pacific Geofoams Market Outlook, By Road & Highway (2021-2030) ($MN)
52 Asia Pacific Geofoams Market Outlook, By Airport Runway & Taxiways (2021-2030) ($MN)
53 Asia Pacific Geofoams Market Outlook, By Building & Infrastructure (2021-2030) ($MN)
54 Asia Pacific Geofoams Market Outlook, By Other Applications (2021-2030) ($MN)
55 Asia Pacific Geofoams Market Outlook, By End User (2021-2030) ($MN)
56 Asia Pacific Geofoams Market Outlook, By Landscapers (2021-2030) ($MN)
57 Asia Pacific Geofoams Market Outlook, By Civil Engineers (2021-2030) ($MN)
58 Asia Pacific Geofoams Market Outlook, By Architects (2021-2030) ($MN)
59 Asia Pacific Geofoams Market Outlook, By Construction Companies (2021-2030) ($MN)
60 Asia Pacific Geofoams Market Outlook, By Other End Users (2021-2030) ($MN)
61 South America Geofoams Market Outlook, By Country (2021-2030) ($MN)
62 South America Geofoams Market Outlook, By Type (2021-2030) ($MN)
63 South America Geofoams Market Outlook, By Expanded Polystyrene (EPS) Geofoams (2021-2030) ($MN)
64 South America Geofoams Market Outlook, By Extruded Polystyrene (XPS) Geofoams (2021-2030) ($MN)
65 South America Geofoams Market Outlook, By Application (2021-2030) ($MN)
66 South America Geofoams Market Outlook, By Road & Highway (2021-2030) ($MN)
67 South America Geofoams Market Outlook, By Airport Runway & Taxiways (2021-2030) ($MN)
68 South America Geofoams Market Outlook, By Building & Infrastructure (2021-2030) ($MN)
69 South America Geofoams Market Outlook, By Other Applications (2021-2030) ($MN)
70 South America Geofoams Market Outlook, By End User (2021-2030) ($MN)
71 South America Geofoams Market Outlook, By Landscapers (2021-2030) ($MN)
72 South America Geofoams Market Outlook, By Civil Engineers (2021-2030) ($MN)
73 South America Geofoams Market Outlook, By Architects (2021-2030) ($MN)
74 South America Geofoams Market Outlook, By Construction Companies (2021-2030) ($MN)
75 South America Geofoams Market Outlook, By Other End Users (2021-2030) ($MN)
76 Middle East & Africa Geofoams Market Outlook, By Country (2021-2030) ($MN)
77 Middle East & Africa Geofoams Market Outlook, By Type (2021-2030) ($MN)
78 Middle East & Africa Geofoams Market Outlook, By Expanded Polystyrene (EPS) Geofoams (2021-2030) ($MN)
79 Middle East & Africa Geofoams Market Outlook, By Extruded Polystyrene (XPS) Geofoams (2021-2030) ($MN)
80 Middle East & Africa Geofoams Market Outlook, By Application (2021-2030) ($MN)
81 Middle East & Africa Geofoams Market Outlook, By Road & Highway (2021-2030) ($MN)
82 Middle East & Africa Geofoams Market Outlook, By Airport Runway & Taxiways (2021-2030) ($MN)
83 Middle East & Africa Geofoams Market Outlook, By Building & Infrastructure (2021-2030) ($MN)
84 Middle East & Africa Geofoams Market Outlook, By Other Applications (2021-2030) ($MN)
85 Middle East & Africa Geofoams Market Outlook, By End User (2021-2030) ($MN)
86 Middle East & Africa Geofoams Market Outlook, By Landscapers (2021-2030) ($MN)
87 Middle East & Africa Geofoams Market Outlook, By Civil Engineers (2021-2030) ($MN)
88 Middle East & Africa Geofoams Market Outlook, By Architects (2021-2030) ($MN)
89 Middle East & Africa Geofoams Market Outlook, By Construction Companies (2021-2030) ($MN)
90 Middle East & Africa Geofoams Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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