Geofoam Market Valued at USD 839.94 Million in 2023, Projected to Grow at a 7.4% CAGR from 2024 to 2030

Anticipated Growth in Revenue:

In 2023, the Geofoam Market was valued at USD 839.94 million and is expected to grow at a CAGR of 7.4 percent during the forecasting period (2024-2030)

Geofoam Market Overview:

The increase in demand for the building and construction industry is the driving force behind the market's rapid expansion. Rising demand for geofoams for a variety of industrial applications, such as slope stabilization, as well as the growth and expansion of numerous end-user verticals in emerging economies, will have a direct and beneficial impact on the market's growth rate.



Geofoam is made up of closed-cell expanded polystyrene (EPS). Geofoam is cost-effective because of its lighter weight than most fill materials. It does not often require surcharging, preloading, or staging, which are common in building applications. Geofoam is free of HCFCs and formaldehyde, making it environmentally friendly and 100 percent recyclable. It resists insects, mold, decomposition, and extreme weather conditions, including freeze-thaw cycles and moisture, thanks to its exceptional stability and long-term value. It's also increasingly being utilized to prevent ground freezing and heaving beneath refrigerated storage buildings, sports arenas, and storage tanks.

𝐔𝐧𝐥𝐨𝐜𝐤 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐎𝐮𝐫 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰:https://www.stellarmr.com/report/Geofoam-Market/1159

What are Geofoam Market Dynamics?

Economic growth, job creation, and linking people to important services like as healthcare and education are all dependent on transportation. The need for resilient transportation has been highlighted by global catastrophes like the COVID-19 pandemic and the crisis in Ukraine. The pandemic caused enormous disruptions in worldwide transportation and trade supply chains, putting air and urban transportation companies' financial sustainability in jeopardy. Despite these difficulties, the sector played an important role in getting necessary workers to work, keeping the economy afloat, and facilitating worldwide vaccine delivery.

𝐍𝐞𝐞𝐝 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 + 𝐆𝐫𝐚𝐩𝐡𝐬 𝐇𝐞𝐫𝐞:https://www.stellarmr.com/report/req_sample/Geofoam-Market/1159

What is Geofoam Market Regional Insight?

The report contains an in-depth analysis of the Geofoam market by geographical region across North America, Asia-Pacific, South America, Middle East, and Africa. Infrastructure investment has long been a crucial driver of economic growth in China. Despite a substantial decrease in investment growth over the previous decade and the dual aims of raising spending and lowering government debt, the government is now optimistic that infrastructure development may continue to spur growth as it has in the past. Investment in fixed assets increased by 4.9 percent in 2021, up from 2.9 percent in 2020 but slower than the 5.1 percent increase in 2019. The Union Minister of Road Transport and Highways announced in August 2021 that the Bharatmala Pariyojana-the ambitious road and highways project that aims to build highways from Maharashtra, Gujarat, Rajasthan, Punjab, Haryana, and then cover the entire string of Himalayan territories-would launch 1,080-km (road construction) projects worth Rs. 25,370 crore (US$ 3.4 billion) in Gujarat. The Ministry of Road Transport and Highways set aside Rs. 165 crore (US$ 22 million) for FY22 under the Economic Importance and Inter State Connectivity Scheme (EIC&ISC) in July 2021. Thus, Asia-Pacific is projected to dominate the Geofoam Market during the projection period driven by developmental activities in India and China.

What is Geofoam Market Segmentation?

By Product type

EPS geofoam
XPS geofoam
By Application

Void fill
Sole stabilization
Embankments
Retaining structures
Insulation
Others
By End Use Industries

Roadways & railways
Buildings & structure
Others

𝐅𝐑𝐄𝐄 𝐆𝐞𝐭 𝐚 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰!https://www.stellarmr.com/report/req_sample/Geofoam-Market/1159

Some of the current players in the Geofoam Market are:

Airfoam (Canada)
Amvic Building Systems (Canada)
Atlas Roofing Corporation (US)
Beaver Plastics Ltd. (Canada)
Benchmark Foam Inc. (US)
Carlisle (US)
Drew Foam (US)
Expol (New Zealand)
Foam Products Corporation (US)
Foamex (Australia)
Galaxy Polystyrene LLC (UAE)
Groupe Legerlite Inc. (Canada)

Key Offerings:

Past Market Size and Competitive Landscape
Geofoam Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Geofoam Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company's vision is to be an integral part of the client's business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

This release was published on openPR.