Geofoams - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Geofoams Market accounted for $738.95 million in 2018 and is expected to reach $1,514.50 million by 2027 growing at a CAGR of 8.3% during the forecast period. Superior properties and broad cost savings of geofoams, wide usage in the construction of road networks and rapid urbanization across the globe are the factors driving the market growth. However, flammability and intolerance to petroleum solvents may hinder the market growth.
Geofoams are polymer-based materials and are classified under cellular geosynthetics. They are manufactured into large lightweight blocks. The blocks come in different sizes but are often 2 m × 0.75 m × 0.75 m. Geofoams are found to be used as alternative filler materials in a variety of construction projects.
By Application, the Road & Highway Construction segment is likely to have a huge demand during the forecast period due to the increasing infrastructural growth in emerging economies. Based on geography, Asia Pacific is going to have a lucrative growth during the forecast period owing to the growing road & highway construction in the rising economies of this region.
Some of the key players profiled in the Geofoams Market include Insulation Corporation of America, Carlisle Construction Materials (CCM), ACH Foam Technologies LLC, Airfoam Industries Ltd, Mega Packing Corporation, Pacific Allied Products Ltd, Foam Products Corporation, Groupe Legerlite Inc, Thermafoam LLC, Amvic Building Systems, Jablite, Expol Ltd, Harbor Foam, Benchmark Foam Inc, and Starr Foam.
• Extruded Polystyrene (XPS)
• Expanded Polystyrene (EPS)
• Vibration and Noise Damping
• Airport Runways & Taxiways
• Void Fill
• Road & Highway Construction
• Building & Infrastructure
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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