Global Geofoam Market Size To Worth USD 989 Million By 2033 | CAGR of 2.26%
The Geofoam Market Size was valued at USD 791 Million in 2023 and the Worldwide Geofoam Market Size is expected to reach USD 989 Million by 2033, according to a research report published by Spherical Insights & Consulting. Companies Covered: Big Sky Insulations, Inc. (U.S.), Amvic Building Systems (Canada), ACH Foam Technologies, LLC (U.S.), Poly Molding LLC (U.S.), Harbor Foam Inc. (U.S.), Expol Ltd. (New Zealand), Carlisle Construction Materials (U.S.), Beaver Plastics (Canada), Groupe Legerlite Inc. (Canada), ThermaFoam, LLC (U.S.), Insulation Corporation of America (U.S.), and Other Key Vendors.
New York, United States , Feb. 01, 2024 (GLOBE NEWSWIRE) -- The Global Geofoam Market Size to Grow from USD 791 Million in 2023 to USD 989 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 2.26% during the forecast period.
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Expanded polystyrene (EPS) or extruded polystyrene (XPS) foam is utilised as a lightweight fill material in a number of construction and civil engineering applications in the geofoam sector. Geofoam is frequently used in construction applications that require lightweight and stable fill materials. This includes highway and road embankments, bridge abutments, retaining walls, and slope stabilisation. Geofoam is lightweight and easy to work with, reducing construction time and personnel costs. Because of its modest weight, it is perfect for quick and efficient installation in certain construction projects. Geofoam may be a more cost-effective option than traditional fill materials in some circumstances. Its light weight allows it to save money on transportation and construction time.
*Geofoam Market Value Chain Analysis*
The value chain begins with the production of raw materials, which are commonly expanded polystyrene (EPS) or extruded polystyrene (XPS). These elements, which are derived from petrochemicals, expand to produce the lightweight foam structure. Expanded or extruded polystyrene beads are moulded and fashioned into geofoam blocks with specific sizes and dimensions. During the manufacturing process, the foam can be cut, moulded, and moulded to meet the needs of construction projects. The geofoam blocks are then sent to construction material suppliers, distributors, or job sites. Construction businesses, contractors, and engineers buy geofoam blocks for specific projects. The geofoam blocks are laid as lightweight fill material in certain places throughout the installation procedure. Project managers supervise the entire construction process, including the use of geofoam. End users of geofoam include construction projects that benefit from its lightweight and insulating properties.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the* "**Global Geofoam Market** Size By Type (Extruded Polystyrene Geofoams, Expanded Polystyrene Geofoams), By Application (Road & Highway Construction, Building & Infrastructure), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033.”*
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*Insights by Type*
The Extruded Polystyrene Geofoams segment accounted for the largest market share over the forecast period 2023 to 2033. Because of its distinct properties, this type of geofoam is gaining popularity in construction and civil engineering. Extruded Polystyrene Geofoams are lightweight, durable, and good thermal insulators. They're being used more and more to tackle technical difficulties like soil stabilisation, slope reinforcement, and lightweight fill applications. This growth represents a recognition of the benefits that geofoams bring to construction projects, resulting in more efficient and sustainable solutions.
*Insights by Application*
The roads and highway construction segment accounted for the largest market share over the forecast period 2023 to 2033. The growth of the Geofoam Market’s Road and highway construction segment indicates a shift towards more efficient and sustainable infrastructure development. Geofoams are making waves in this industry due to their lightweight nature and excellent engineering features. Their ability to provide stability and support in areas with difficult soil conditions is a valuable asset. These foams act as lightweight fill materials, reducing soil load and reducing settlement issues. This not only increases the life of roads and highways, but it also saves money.
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*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Key Players In the Global Geofoam Market include Big Sky Insulations, Inc. (U.S.), Amvic Building Systems (Canada), ACH Foam Technologies, LLC (U.S.), Poly Molding LLC (U.S.), Harbor Foam Inc. (U.S.), Expol Ltd. (New Zealand), Carlisle Construction Materials (U.S.), Beaver Plastics (Canada), Groupe Legerlite Inc. (Canada), ThermaFoam, LLC (U.S.), Insulation Corporation of America (U.S.), and Other Key Vendors.
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*Recent Market Developments*
· In February 2017, Foam-Control Geofoam is a new product launched by ACH Foam Technologies, LLC.
*Market Segmentation*
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
*Geofoam Market, Type Analysis*
· Extruded Polystyrene Geofoams
· Expanded Polystyrene Geofoams
*Geofoam Market, Application Analysis*
· Road & Highway Construction
· Building & Infrastructure
*Geofoam Market, Regional Analysis*
· North America
· US
· Canada
· Mexico
· Europe
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· Asia Pacific
· China
· Japan
· India
· South Korea
· Australia
· South America
· Brazil
· Argentina
· Colombia
· Middle East & Africa
· UAE
· Saudi Arabia
· South Africa
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