Dublin, Oct. 17, 2019 (GLOBE NEWSWIRE) -- The "Geofoams Market by Type (Expanded Polystyrene (EPS) Geofoam, and Extruded Polystyrene (XPS) Geofoam), Application (Road & Highway Construction, Building & Infrastructure, Airport Runways & Taxiways), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global market for geofoams is estimated to be USD 0.8 billion in 2019 and is projected to reach USD 1.1 billion by 2024, growing at a CAGR of 6.3% between 2019 and 2024.
- This report defines, segments, and projects the size of the geofoams market based on type, application, and region.
- It strategically profiles the key players and comprehensively analyzes their market share and core competencies.
- It also tracks and analyzes competitive developments such as expansions, acquisitions, new product launches, and investments undertaken by them in the market.
The rising demand from varying sectors such as road construction, road widening, in bridges, as buried structures, embankments, and others have led to the extensive use of geofoams in the geofoams market. The factors such as flammability and intolerance to petroleum solvents are the major restraints into the widespread acceptance of geofoams at a global level.
The geofoams market is diversified and competitive, with a large number of global players as well as regional and local players. The key players in this market are ACH Foam Technologies, LLC (US), Carlisle Construction Materials (US), Amvic Building Systems (Canada), Expol Ltd. (New Zealand), Groupe Legerlite, Inc. (Canada), and Pacific Allied Products Ltd. (US).
The road & highway construction segment is projected to lead the geofoams market in terms of both value and volume during the forecast period
Based on application, the road & highway construction segment led the geofoams market in 2019 in terms of both value and volume. The growth of this segment can be attributed to incessant infrastructural growth in emerging economies, such as China, India, Brazil, Saudi Arabia, UAE, and Mexico, which is driving the growth of the road & highway construction segment. Furthermore, factors such as better road connectivity in regions such as Asia Pacific, Europe, and Middle East are resulting in the hike in demand for road & highway construction segment and thus propelling the demand for geofoams as well.
The expanded polystyrene (EPS) geofoam type segment is projected to lead the geofoams market in terms of both value and volume from 2019 to 2024
Based on type, the expanded polystyrene (EPS) geofoam segment accounted for the largest share of the geofoams market in 2018. The expanded polystyrene (EPS) geofoam segment is projected to lead the market in terms of both value and volume during the forecast period. The expanded polystyrene (EPS) geofoams are compatible with a multitude of geofoam construction applications such as roads, foundations, highways, and others in road & highway construction industry. The growth in this market is mainly attributed to extensive usage of the increasing use of expanded polystyrene (EPS) geofoam in infrastructural applications such as roads, highways, railways, foundations, and others.
Asia Pacific is projected to lead the geofoams market during the forecast period, in terms of both value and volume
The Asia Pacific region is projected to lead the geofoams market from 2019 to 2024, in terms of both value and volume. The demand for geofoams is increasing in Asia Pacific owing to growth in road & highway construction in the region. Also, the rising economies such as China and India in the region is expected to fuel the demand for new road pavements and consecutively for the geofoams in the region. The market in this region is also projected to continue its market dominance in terms of both value and volume, from 2019 to 2024, owing to the increased demand for geofoams from countries such as China, Japan, South Korea, and India.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Geofoams Market
4.2 Geofoams Market, By Type
4.3 Geofoams Market, By Type
4.4 Geofoams Market, By Application
4.5 Geofoams Market Growth
5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Rising Demand for Geofoams From End-Use Industries Due to Superior Properties and Extensive Cost Savings
5.3.1.2 Preferred Alternative to Traditional Land Stabilization Materials
5.3.2 Restraints
5.3.2.1 Highly Flammable and Vulnerable to Petroleum Solvents
5.3.3 Opportunities
5.3.3.1 Increasing Infrastructural Activities and Technological Developments in Geofoams
5.3.4 Challenges
5.3.4.1 Limited Technical Knowledge and Expertise About Geofoams in Emerging Countries
6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Raw Materials and It's Suppliers
6.2.2 Manufacturers
6.2.3 Distributors
6.2.4 End-Use Industries
6.3 Porter's Five Forces Analysis
6.3.1 Bargaining Power of Suppliers
6.3.2 Bargaining Power of Buyers
6.3.3 Threat of Substitutes
6.3.4 Threat of New Entrants
6.3.5 Intensity of Competitive Rivalry
7 Geofoams Market, By Type
7.1 Introduction
7.2 Expanded Polystyrene (EPS) Geofoam
7.2.1 Wide-Ranging Applications, Simple Manufacturing Process, and Low Cost are Driving the Growth of the EPS Geofoam Segment
7.3 Extruded Polystyrene (XPS) Geofoam
7.3.1 Rising Demand From the Insulation Application is Driving the Growth of the XPS Geofoam Segment
8 Geofoams Market, By Application
8.1 Introduction
8.2 Road & Highway Construction
8.2.1 Ease of Handling and Excellent Load Bearing Capacity are Fuelling the Consumption of Geofoams in the Road & Highway Construction Segment
8.2.2 Road Widening
8.2.3 Bridge Abutment
8.2.4 Bridge Underfill
8.2.5 Culverts, Pipelines, & Buried Structures
8.3 Building & Infrastructure
8.3.1 The Building & Infrastructure Segment Accounted for the Second-Highest Consumption of Geofoams in 2018
8.3.2 Compensating Foundations
8.3.3 Slope Stabilization
8.3.4 Stadium & Theater Seating
8.3.5 Foundation for Lightweight Structures
8.4 Airport Runways & Taxiways
8.4.1 EPS Geofoam is Majorly Used for Airport Runways & Taxiways
8.5 Others
9 Global Geofoams Market, By Region
9.1 Introduction
9.2 Asia Pacific
9.2.1 China
9.2.1.1 In the Asia Pacific Region, China Led the Geofoams Market in 2018
9.2.2 Japan
9.2.2.1 Japan Accounted for the Second-Largest Share of the Asia Pacific Geofoams Market in 2018
9.2.3 South Korea
9.2.3.1 The Geofoams Market in South Korea is Majorly Driven By the Road & Highway Construction Application Segment
9.2.4 India
9.2.4.1 The Rising Construction Industry in India is Expected to Fuel the Consumption of Geofoams During the Forecast Period
9.2.5 Thailand
9.2.5.1 in Thailand, the EPS Segment Accounted for the Largest Share of the Geofoams Market in 2018 and is Projected to Continue to Lead During the Forecast Period
9.2.6 Indonesia
9.2.6.1 The High Consumption of EPS Geofoam in Road & Highway Construction is Leading to the Growth of the Geofoams Market
9.2.7 Rest of Asia Pacific
9.3 North America
9.3.1 US
9.3.1.1 The US Accounted for the Largest Share of the Geofoams Market in 2018
9.3.2 Canada
9.3.2.1 Canada Accounted for the Second-Largest Share of the Geofoams Market in North America
9.3.3 Mexico
9.3.3.1 EPS is the Largest Segment in the Mexican Geofoams Market
9.4 Europe
9.4.1 Germany
9.4.1.1 Germany is the Largest Consumer of Geofoams in Europe
9.4.2 France
9.4.2.1 Road & Highway Construction is Projected to Be the Fastest-Growing Segment in the Geofoams Market in France Between 2019 and 2024
9.4.3 UK
9.4.3.1 The UK is the Third-Largest Consumer of Geofoams in the European Region
9.4.4 Italy
9.4.4.1 EPS is The Largest Segment in the Italian Geofoams Market
9.4.5 Russia
9.4.5.1 High Demand From the Road & Highway Construction Application is Driving the Geofoams Market in Russia
9.4.6 Spain
9.4.6.1 The XPS Geofoam Segment is Projected to Grow at the Highest Rate During the Forecast Period
9.4.7 Rest of Europe
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.1.1 Saudi Arabia is Estimated to Account for the Largest Share of the Geofoams Market in the Middle East & Africa Region in 2019
9.5.2 UAE
9.5.2.1 The UAE is the Second-Largest Middle East & African Geofoams Market
9.5.3 Egypt
9.5.3.1 Increasing Infrastructural Development in Egypt is Supporting the Growth of the Geofoams Market
9.5.4 Rest of Middle East & Africa
9.6 South America
9.6.1 Brazil
9.6.1.1 Brazil Accounted for the Largest Share of the South American Geofoams Market in 2018
9.6.2 Argentina
9.6.2.1 Argentina is the Second-Largest Market for Geofoams in South America
9.6.3 Colombia
9.6.3.1 The Colombian Geofoams Market is Driven By the High Consumption of Geofoams in Road & Highway Construction
9.6.4 Rest of South America
10 Competitive Landscape
10.1 Overview
10.2 Competitive Landscape Mapping, 2019
10.2.1 Visionary Leaders
10.2.2 Innovators
10.2.3 Dynamic Differentiators
10.2.4 Emerging Companies
10.3 Strength of Product Portfolio
10.4 Business Strategy Excellence
10.5 SME Matrix, 2019
10.5.1 Leaders
10.5.2 Contenders
10.5.3 Pacesetters
10.5.4 Masters
10.6 Market Ranking of Key Players
10.7 Competitive Scenario
10.7.1 Expansions
10.7.2 Acquisitions
10.7.3 New Product Launches
10.7.4 Partnerships
10.7.5 Agreements
11 Company Profiles
11.1 Introduction
11.2 Carlisle Construction Materials (CCM)
11.3 Amvic Building Systems
11.4 ACH Foam Technologies LLC
11.5 Insulation Corporation of America
11.6 Foam Products Corporation
11.7 Jablite
11.8 Thermafoam LLC
11.9 Expol Ltd.
11.10 Pacific Allied Products Ltd.
11.11 Airfoam Industries Ltd.
11.12 Harbor Foam
11.13 Groupe Legerlite Inc.
11.14 Other Companies
11.14.1 Benchmark Foam Inc.
11.14.2 Mega Packing Corporation
11.14.3 Starr Foam
11.14.4 Foamex
11.14.5 Universal Foam Products
11.14.6 Galaxy Polystyrene
11.14.7 Polyfoam XPS
11.14.8 Technopol
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