Large base of applications in the construction industry is driving the market for geofoam

• Himanshu Patni
• November 21, 2022
• CHEMICAL
• Geofoam Market, Geofoam Market Growth, Geofoam Market Share, Geofoam Market Size, Geofoam Market Trends
• 0 Comments

The global geofoam market is likely to showcase a growth of around 7% during the forecast period. This can be ascribed to the large base of application areas in the construction industry, growth in the construction industry, and low cost compared to traditional land stabilization materials.

The global construction industry has been witnessing a growing number of construction activities after the major fall in the light of COVID-19. Thereby, supporting the associated industries by fueling the construction materials demand. Geofoam is one of the niche materials used in the construction activity however it is gaining industry traction due to its usage in various applications such as lightweight fill for construction on soft ground, for slope stabilization, and retaining wall or abutment backfill as well as for roadway and runway sub-grade insulation and foundation insulation. Further, due to its overall low cost and unprecedented strength and flexibility, it is preferred among engineers, architects, builders, and other industry professionals to offer a unique product that works in conjunction with other, more traditional materials to solve construction problems.

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Based on application, the market is categorized into structure foundation, embankments, slope stabilization, insulation, retaining structure, and others. Among these, structure foundation is among the leading category accounting for significant consumption of geofoam and is likely to maintain its position in the market during the foreseeable future. This can be ascribed to the properties of geofoam which suffice the requirements of structure foundation like maintaining structure integrity, thermal barrier, strength, and low cost.

Based on the end-use, the market is categorized into road & highway, building & infrastructure, airport runway & taxiways, and others. Of these, road & highway accounted for a prominent share in the market owing to a large number of application areas including road construction over poor soils, road widening, bridge abutment, bridge underfill, and slope stabilization to name a few. Further, increasing investment in emerging nations to improve the infrastructure is resulting in the number of road & highway construction activities, thereby it is expected that the demand for geofoam is likely to increase during the forecast period.

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For a better understanding of the market adoption of Geofoam, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and Rest of World. North America accounted for a significant share of the market and is expected to showcase significant growth over the forecast period. This can be ascribed to the high awareness among the construction companies regarding the benefits of geofoam coupled with the presence of a large number of geofoam manufacturers in the region. Also, in the last couple of years, the demand for geofoam has increased significantly in the region owing to rising government focus on sustainable developments.

Global Geofoam Market Segmentation

Market Insight, by Type

• Expanded Polystyrene (EPS)
• Extruded Polystyrene (XPS)

Market Insight, by Application

• Structure Foundation
• Embankments
• Slope Stabilization
• Insulation
• Retaining Structure
• Others

Market Insight, by End-Use

• Road & Highway
• Building & Infrastructure
• Airport Runway & Taxiways
• Others

Market Insight, by Region

• North America Geofoam Market
  • The United States
  • Canada
  • Rest of North America
• Europe Geofoam Market
  • Germany
  • The United Kingdom
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia-Pacific Geofoam Market
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World Geofoam Market

Top Company Profiles

• Carlisle Companies Incorporated
• Amvic Inc.
• Atlas Roofing Corporation
• Insulation Company of America LLC
• Foam Products Corporation
• Jablite Ltd.
• ThermaFoam LLC
• Expol
• Pacific Allied Products Ltd.
• Airfoam Industries Ltd.