Geofoams Market by Material and Geography - Forecast and Analysis 2022-2026

The geofoams market share is expected to increase by USD 4.54 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.71%.

This geofoams market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers geofoams market segmentations by material (EPS and XPS) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The geofoams market report also offers information on several market vendors, including Airfoam Industries Ltd., Amvic Inc., Atlas Roofing Corp., Beaver Plastics Ltd., Carlisle Companies Inc., Drew Foam Co. Inc., EXPOL Ltd., Foam Products Corp., Foamex, Galaxy Polystyrene LLC, Groupe Legerlite Inc., Harbor Foam, Insulation Company of America LLC, Jablite Ltd., Pacific Allied Products Ltd., Plasti Fab Ltd., Poly Molding LLC, Technopol SA Pty Ltd., ThermaFoam Operating LLC, and Universal Foam Products among others.

What will the Geofoams Market Size be During the Forecast Period?

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Geofoams Market: Key Drivers, Trends, and Challenges

The low cost compared to traditional land stabilization materials is notably driving the geofoams market growth, although factors such as limited technical knowledge and awareness about geofoams in emerging markets may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the geofoams industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Geofoams Market Driver

The low cost compared to traditional land stabilization materials is one of the key drivers supporting the geofoams market growth. Geofoams can be used easily in high complexity projects where large machines cannot work, and materials like shotcrete or soil can be placed easily against geofoam. It eliminates the need for expensive forming and reduces the project cost. Moreover, it saves transportation costs, construction traffic costs, and import costs as one flatbed truck of geofoam is equal to approximately 12 dump truck loads of traditional filling material like soil. By employing geofoam in construction projects, maintenance costs, settlement time, and project construction time are also reduced. Hence, geofoams benefits as an alternative to traditional materials for land stabilization contribute to the growth of the global geofoams market in the forecast period.

Key Geofoams Market Trend

The rise in global construction and infrastructure development activities is one of the key geofoams market trends that is contributing to the market growth. Government initiatives and major investments in new projects have boosted the growth of the construction industry. For instance, the Indian Government launched the Housing for All by 2022 initiative in 2015, which propelled the growth of the construction industry in India. Through this initiative, the government is expected to provide funds for constructing over 20 million new houses, with a carpet area of up to 30 square meters, by the end of 2022. Under this mission, the government is also expected to build new water storage facilities, power infrastructure, and social infrastructures. Hence, there is a wide scope for utilizing geofoams in these newly constructed buildings owing to their cost-effectiveness. Thus, such activities are expected to raise the demand exponentially for the geofoams market during the forecast period.

Key Geofoams Market Challenge

Limited technical knowledge and awareness about geofoams in emerging markets is one of the factors hindering the geofoams market growth. The usage of geofoams for infrastructural development is more prevalent in developed countries. This is because the civil engineers in these regions have more knowledge about using it. However, in emerging markets, the level of awareness is low compared to developed countries. Further, the construction standards in developing nations do not include geofoams, as traditional construction materials such as soil and sand are available easily at a low cost. Moreover, the challenge lies in this limited awareness among engineers. Such a lack of awareness and technical knowledge will impede the geofoams market growth during the forecast period.

This geofoams market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global geofoams market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the geofoams market during the forecast period.

Who are the Major Geofoams Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Airfoam Industries Ltd.
• Amvic Inc.
• Atlas Roofing Corp.
• Beaver Plastics Ltd.
• Carlisle Companies Inc.
• Drew Foam Co. Inc.
• EXPOL Ltd.
• Foam Products Corp.
• Foamex
• Galaxy Polystyrene LLC
• Groupe Legerlite Inc.
• Harbor Foam
• Insulation Company of America LLC
• Jablite Ltd.
• Pacific Allied Products Ltd.
• Plasti Fab Ltd.
• Poly Molding LLC
• Technopol SA Pty Ltd.
• ThermaFoam Operating LLC
• Universal Foam Products

 

This statistical study of the geofoams market encompasses successful business strategies deployed by the key vendors. The geofoams market is fragmented and the vendors are deploying growth strategies such as product specifications to compete in the market.

Product Insights and News

• Atlasroofing.com - The company offers geofoam such as Atlas Geofoam Lightweight Fill which is a lightweight engineered fill that is designed to deliver the highest level of stability for transportation, commercial construction, and landscaping applications.
• Carlisle.com - The company offers geofoam such as InsulFoam GF which is a lightweight, geosynthetic foam fill material used as an alternative to various fill materials, as a soil stabilizer or as void fill, and in various engineered applications.
• Drewfoam.com - The company offers geofoam such as expanded polystyrene (EPS) rigid cellular plastic foam that is used as super light-weight void fill and in geotechnical insulation applications.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The geofoams market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Geofoams Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the geofoams market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Geofoams Market?

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35% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the geofoams market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Another key region offering significant growth opportunities to vendors is North America. The rising construction activities will facilitate the geofoams market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic in 2020 affected numerous industries such as construction, aviation, and logistics in North America, with the US being the worst-hit country. However, the lifting of lockdowns coupled with large-scale vaccination drives and increased government initiatives in the region to fund the small-medium enterprises (SMEs) will lead to steady market growth. Such factors will drive geofoams market growth in North America during the forecast period.

What are the Revenue-generating Material Segments in the Geofoams Market?

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The geofoams market share growth by the EPS segment will be significant during the forecast period. The growing need for new roads may, in many cases, require construction over soft or loose soils that are incapable of supporting additional loads. EPS geofoam can be used to replace compressible soils or in place of heavy fill materials to prevent unacceptable loading on underlying soils and adjacent structures. Construction with EPS geofoam also saves time because it is easy to handle without the need for special equipment and is an engineered product it arrives on site. Thus, such factors of EPS will further boost the demand for the EPS geofoams during the forecast period.

his report provides an accurate prediction of the contribution of all the segments to the growth of the geofoams market size and actionable market insights on post COVID-19 impact on each segment.

 

Geofoams Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.71%
Market growth 2022-2026	$ 4.54 billion
Market structure	Fragmented
YoY growth (%)	3.76
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	APAC at 35%
Key consumer countries	US, China, India, Russia, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Airfoam Industries Ltd., Amvic Inc., Atlas Roofing Corp., Beaver Plastics Ltd., Carlisle Companies Inc., Drew Foam Co. Inc., EXPOL Ltd., Foam Products Corp., Foamex, Galaxy Polystyrene LLC, Groupe Legerlite Inc., Harbor Foam, Insulation Company of America LLC, Jablite Ltd., Pacific Allied Products Ltd., Plasti Fab Ltd., Poly Molding LLC, Technopol SA Pty Ltd., ThermaFoam Operating LLC, and Universal Foam Products
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Geofoams Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive geofoams market growth during the next five years
• Precise estimation of the geofoams market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the geofoams industry across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of geofoams market vendors

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