Geofoam Market Estimated to Touch a Valuation of US$ 1,037 Million by 2026

4.2
Geofoam Market Estimated to Touch a Valuation of US$ 1,037 Million by 2026

Geofoam Market by Type (Expanded Polystyrene (EPS) Geofoam, and Extruded Polystyrene (XPS) Geofoam), End-Use (Road & Highway Construction, Building

The global market size for geofoam is estimated at USD 755 million in 2021 and is projected to reach USD 1,037 million by 2026, at a CAGR of 6.5% between 2021 and 2026. Geofoams are gaining popularity as a preferred alternative to traditional fill materials such as sand, clay, and topsoil.

Based on type, the geofoams market is segmented into expanded polystyrene and extruded polystyrene. Expanded Polystyrene (EPS) was the largest segment in the geofoams market in 2020. Expanded polystyrene geofoam is used to repair slope failures, reduce lateral load behind retaining structures, accelerate construction on fill for approach embankments, and minimize differential settlements at bridge abutments.

Get an Exclusive PDF Sample Copy of This Report at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=193832866

Based on end-use, the geofoams market is segmented into road & highway construction, building & infrastructure, airport runway & taxiways, and others. The others segment comprises railway embankments and green roof applications. Road & highway construction segment accounted for the largest share of the geofoams market in 2020. Road & highway construction is the largest application, of which the two major functions of geofoams in it are void filling and providing structural support for construction on soft ground.

Based on application, geofoams are used in various applications such as structure foundation, embankments, slope stabilization, insulation, retaining structures, and others. In 2020, structure foundation was the largest segment in the geofoams market. It is one of the most common applications of geofoam, owing to its structural integrity, thermal barrier, durability, and low cost.

Based on region, Asia Pacific is estimated to be the largest market in terms of value. It is majorly due to the increase in increasing investments in infrastructure in Asia Pacific region. Also, the growth can be attributed to growing end-use sectors such as residential & commercial buildings and transport infrastructure.

Request Customized Report as Per Your Requirements at https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=193832866

The key market players include Carlisle (US), Amvic Building Systems (Canada), Atlas Roofing Corporation (US), Insulation Company of America (US), Foam Products Corporation (US), Jablite (UK), ThermaFoam, LLC (US), Expol (New Zealand), Pacific Allied Products, Ltd. (US), Airfoam (Canada), Harbor Foam (US), Groupe Legerlite Inc. (Canada), Drew Foam (US), and Plasti-Fab Ltd. (Canada). These players have adopted product launches, acquisitions, expansions, partnerships as their growth strategies.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441