PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1476315
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1476315
Geofoams Market Forecasts to 2030 - Global Analysis By Type (Expanded Polystyrene Geofoams and Extruded Polystyrene Geofoams), By Application, 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(R) EXO(TM) 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
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- 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
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- 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
- Table 1 Global Geofoams Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Geofoams Market Outlook, By Type (2021-2030) ($MN)
- Table 3 Global Geofoams Market Outlook, By Expanded Polystyrene (EPS) Geofoams (2021-2030) ($MN)
- Table 4 Global Geofoams Market Outlook, By Extruded Polystyrene (XPS) Geofoams (2021-2030) ($MN)
- Table 5 Global Geofoams Market Outlook, By Application (2021-2030) ($MN)
- Table 6 Global Geofoams Market Outlook, By Road & Highway (2021-2030) ($MN)
- Table 7 Global Geofoams Market Outlook, By Airport Runway & Taxiways (2021-2030) ($MN)
- Table 8 Global Geofoams Market Outlook, By Building & Infrastructure (2021-2030) ($MN)
- Table 9 Global Geofoams Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 10 Global Geofoams Market Outlook, By End User (2021-2030) ($MN)
- Table 11 Global Geofoams Market Outlook, By Landscapers (2021-2030) ($MN)
- Table 12 Global Geofoams Market Outlook, By Civil Engineers (2021-2030) ($MN)
- Table 13 Global Geofoams Market Outlook, By Architects (2021-2030) ($MN)
- Table 14 Global Geofoams Market Outlook, By Construction Companies (2021-2030) ($MN)
- Table 15 Global Geofoams Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 16 North America Geofoams Market Outlook, By Country (2021-2030) ($MN)
- Table 17 North America Geofoams Market Outlook, By Type (2021-2030) ($MN)
- Table 18 North America Geofoams Market Outlook, By Expanded Polystyrene (EPS) Geofoams (2021-2030) ($MN)
- Table 19 North America Geofoams Market Outlook, By Extruded Polystyrene (XPS) Geofoams (2021-2030) ($MN)
- Table 20 North America Geofoams Market Outlook, By Application (2021-2030) ($MN)
- Table 21 North America Geofoams Market Outlook, By Road & Highway (2021-2030) ($MN)
- Table 22 North America Geofoams Market Outlook, By Airport Runway & Taxiways (2021-2030) ($MN)
- Table 23 North America Geofoams Market Outlook, By Building & Infrastructure (2021-2030) ($MN)
- Table 24 North America Geofoams Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 25 North America Geofoams Market Outlook, By End User (2021-2030) ($MN)
- Table 26 North America Geofoams Market Outlook, By Landscapers (2021-2030) ($MN)
- Table 27 North America Geofoams Market Outlook, By Civil Engineers (2021-2030) ($MN)
- Table 28 North America Geofoams Market Outlook, By Architects (2021-2030) ($MN)
- Table 29 North America Geofoams Market Outlook, By Construction Companies (2021-2030) ($MN)
- Table 30 North America Geofoams Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 31 Europe Geofoams Market Outlook, By Country (2021-2030) ($MN)
- Table 32 Europe Geofoams Market Outlook, By Type (2021-2030) ($MN)
- Table 33 Europe Geofoams Market Outlook, By Expanded Polystyrene (EPS) Geofoams (2021-2030) ($MN)
- Table 34 Europe Geofoams Market Outlook, By Extruded Polystyrene (XPS) Geofoams (2021-2030) ($MN)
- Table 35 Europe Geofoams Market Outlook, By Application (2021-2030) ($MN)
- Table 36 Europe Geofoams Market Outlook, By Road & Highway (2021-2030) ($MN)
- Table 37 Europe Geofoams Market Outlook, By Airport Runway & Taxiways (2021-2030) ($MN)
- Table 38 Europe Geofoams Market Outlook, By Building & Infrastructure (2021-2030) ($MN)
- Table 39 Europe Geofoams Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 40 Europe Geofoams Market Outlook, By End User (2021-2030) ($MN)
- Table 41 Europe Geofoams Market Outlook, By Landscapers (2021-2030) ($MN)
- Table 42 Europe Geofoams Market Outlook, By Civil Engineers (2021-2030) ($MN)
- Table 43 Europe Geofoams Market Outlook, By Architects (2021-2030) ($MN)
- Table 44 Europe Geofoams Market Outlook, By Construction Companies (2021-2030) ($MN)
- Table 45 Europe Geofoams Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 46 Asia Pacific Geofoams Market Outlook, By Country (2021-2030) ($MN)
- Table 47 Asia Pacific Geofoams Market Outlook, By Type (2021-2030) ($MN)
- Table 48 Asia Pacific Geofoams Market Outlook, By Expanded Polystyrene (EPS) Geofoams (2021-2030) ($MN)
- Table 49 Asia Pacific Geofoams Market Outlook, By Extruded Polystyrene (XPS) Geofoams (2021-2030) ($MN)
- Table 50 Asia Pacific Geofoams Market Outlook, By Application (2021-2030) ($MN)
- Table 51 Asia Pacific Geofoams Market Outlook, By Road & Highway (2021-2030) ($MN)
- Table 52 Asia Pacific Geofoams Market Outlook, By Airport Runway & Taxiways (2021-2030) ($MN)
- Table 53 Asia Pacific Geofoams Market Outlook, By Building & Infrastructure (2021-2030) ($MN)
- Table 54 Asia Pacific Geofoams Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 55 Asia Pacific Geofoams Market Outlook, By End User (2021-2030) ($MN)
- Table 56 Asia Pacific Geofoams Market Outlook, By Landscapers (2021-2030) ($MN)
- Table 57 Asia Pacific Geofoams Market Outlook, By Civil Engineers (2021-2030) ($MN)
- Table 58 Asia Pacific Geofoams Market Outlook, By Architects (2021-2030) ($MN)
- Table 59 Asia Pacific Geofoams Market Outlook, By Construction Companies (2021-2030) ($MN)
- Table 60 Asia Pacific Geofoams Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 61 South America Geofoams Market Outlook, By Country (2021-2030) ($MN)
- Table 62 South America Geofoams Market Outlook, By Type (2021-2030) ($MN)
- Table 63 South America Geofoams Market Outlook, By Expanded Polystyrene (EPS) Geofoams (2021-2030) ($MN)
- Table 64 South America Geofoams Market Outlook, By Extruded Polystyrene (XPS) Geofoams (2021-2030) ($MN)
- Table 65 South America Geofoams Market Outlook, By Application (2021-2030) ($MN)
- Table 66 South America Geofoams Market Outlook, By Road & Highway (2021-2030) ($MN)
- Table 67 South America Geofoams Market Outlook, By Airport Runway & Taxiways (2021-2030) ($MN)
- Table 68 South America Geofoams Market Outlook, By Building & Infrastructure (2021-2030) ($MN)
- Table 69 South America Geofoams Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 70 South America Geofoams Market Outlook, By End User (2021-2030) ($MN)
- Table 71 South America Geofoams Market Outlook, By Landscapers (2021-2030) ($MN)
- Table 72 South America Geofoams Market Outlook, By Civil Engineers (2021-2030) ($MN)
- Table 73 South America Geofoams Market Outlook, By Architects (2021-2030) ($MN)
- Table 74 South America Geofoams Market Outlook, By Construction Companies (2021-2030) ($MN)
- Table 75 South America Geofoams Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 76 Middle East & Africa Geofoams Market Outlook, By Country (2021-2030) ($MN)
- Table 77 Middle East & Africa Geofoams Market Outlook, By Type (2021-2030) ($MN)
- Table 78 Middle East & Africa Geofoams Market Outlook, By Expanded Polystyrene (EPS) Geofoams (2021-2030) ($MN)
- Table 79 Middle East & Africa Geofoams Market Outlook, By Extruded Polystyrene (XPS) Geofoams (2021-2030) ($MN)
- Table 80 Middle East & Africa Geofoams Market Outlook, By Application (2021-2030) ($MN)
- Table 81 Middle East & Africa Geofoams Market Outlook, By Road & Highway (2021-2030) ($MN)
- Table 82 Middle East & Africa Geofoams Market Outlook, By Airport Runway & Taxiways (2021-2030) ($MN)
- Table 83 Middle East & Africa Geofoams Market Outlook, By Building & Infrastructure (2021-2030) ($MN)
- Table 84 Middle East & Africa Geofoams Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 85 Middle East & Africa Geofoams Market Outlook, By End User (2021-2030) ($MN)
- Table 86 Middle East & Africa Geofoams Market Outlook, By Landscapers (2021-2030) ($MN)
- Table 87 Middle East & Africa Geofoams Market Outlook, By Civil Engineers (2021-2030) ($MN)
- Table 88 Middle East & Africa Geofoams Market Outlook, By Architects (2021-2030) ($MN)
- Table 89 Middle East & Africa Geofoams Market Outlook, By Construction Companies (2021-2030) ($MN)
- Table 90 Middle East & Africa Geofoams Market Outlook, By Other End Users (2021-2030) ($MN)
