Global Geofoams Market, By Application (Void Fill, Slope Stabilization, Embankments, Retaining Structures, Insulation, and Others), Type (Expanded Polystyrene Geofoams, Extruded Polystyrene Geofoam), End Users (Road and Highway Construction, Building and Infrastructure, Airport Runways and Taxiways, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Geofoams Market
Data Bridge Market Research analyses that the geofoams market will witness a CAGR of 6.90% for the forecast period of 2022-2029. Growth in the demand for geofoams especially in the emerging economies such as India and China, growing use of geofoams for a wide range of end user applications such as in the retaining structures, insulation, and others, rising number of small and medium scale enterprises in the Asia-Pacific region and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the geofoams market.
Geofoams are polymeric polystyrenes that are used in the manufacturing of lightweight blocks of varying height and width. Geofoams can easily be transported from one place to another and possess great physical and tensile strength.
Rise in demand for geofoams by the buildings and construction industry is the root cause for fuelling up the market growth rate. Rising demand for geofoams for a wide range of industrial applications such as in the slope stabilization and growth and expansion of various end user verticals in the emerging economies will also directly and positively impact the growth rate of the market. Surging demand for low fuel combustion and light weight vehicles, rising expenditure for research and development proficiencies by the major companies, upsurge in the rate of industrialization, higher adoption of cost saving material, easy availability of geofoams as an alternative to traditional land stabilization materials and growing focus on the technological advancements and modernization in the production techniques will further carve the way for the growth of the market.
However, insufficiency in raw material demand and supply owing to the lockdown and volatility in their prices will pose a major challenge to the growth of the market. High cost associated with research and development proficiencies, stringent regulations imposed by the government on industrial processes, harmful impact on human health, rising import and export tariffs and strict global trade restrictions will dampen the market growth rate. High vulnerability to petroleum solvents, and limited technical knowledge and expertise about geofoams will also restrict the scope of growth for the market.
This geofoams market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on geofoams market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Geofoams Market Scope and Market Size
The geofoams market is segmented on the basis of application, type and end users. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of application, the geofoams market is segmented into avoid fill, slope stabilization, embankments, retaining structures, insulation, and other.
- On the basis of type, the geofoams market is segmented into expanded polystyrene geofoams and extruded polystyrene geofoam. Expanded polystyrene geofoams will hold the largest market share due to their usage in road, highway and construction application.
- Geofoams market is segmented in terms of market value, volume, market opportunities and niches into multiple end users. The end users segment for geofoams market includes road and highway construction, building and infrastructure, airport runways and taxiways and others. Road and highway is further sub-segmented into road widening, bridge abutment, bridge underfill and culverts, pipelines, and buried structures. Building and infrastructure segment is further sub-segmented into compensating foundations, slope stabilization, stadium and theater seating and foundation for lightweight structures.
Geofoams Market Country Level Analysis
The geofoams market is analysed and market size, volume information is provided by country, application, type and end users as referenced above.
The countries covered in the geofoams market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific region dominates the geofoams market owing to the increasing research and development proficiencies, growing demand from various end-use industries, growing public infrastructure projects in emerging economies, such as India, Vietnam, and Indonesia, investment policies by the government in order to promote industrial growth, high economic growth in the emerging countries, rapid rate of urbanization, abundant availability of raw materials and rising investments by various public and private manufacturers in Asia Pacific.
The country section of the geofoams market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Geofoams Market Share Analysis
The geofoams market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to geofoams market.
Some of the major players operating in the geofoams market report are Carlisle, Amvic Inc., ACH Foam Technologies, Inc., Insulation Corporation of America, AFM Corporation, Jablite, ThermaFoam, LLC, Expol, Airfoam., Légerlite, Benchmark Foam Inc., Mega Packaging Corporation, STARRFOAM, Foamex, Universal Foam Products., GALAXY POLYSTYRENE LLC., Technopol SA, Akzo Nobel N.V., Evonik Industries AG, BASF SE, DuPont, Autonomic Materials, Inc., Honeywell International Inc., Huntsman International LLC and LyondellBasell Industries Holdings B.V., among others.
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