Geofoam Market by Type (Expanded Polystyrene Geofoams, Extruded Polystyrene Geofoams) Application (Road and Highway Construction, Building and Infrastructure, Airport Runways and Taxiways, Others): Global Market Size Estimates and Forecast (2022-2030)

The market crossed US$ 804 million mark in 2022 and is expected to hit US$ 1,285 million by 2030, recording a CAGR of 6.0% during the forecast period.

Low cost compared to traditional land stabilization materials

Geofoams are a preferred alternative to traditional fill materials which offer excellent physical properties at a low cost and help engineers to execute projects without cost and time overruns. Geofoams can be installed by hand using simple hand tools, which limits the labor requirements for construction thereby eliminating the investment and operating cost. These are some of the qualities of geofoams, which make them a preferred alternative to traditional land stabilization materials. These factors are projected to propel the market growth in the forecast period.

Within the report, the market is segmented into type, application, and geography. By type, the market is further segmented into expanded polystyrene geofoams, extruded polystyrene geofoams. By application, the market is categorized into road and highway construction, building and infrastructure, airport runways and taxiways, others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Increasing infrastructural activities and technological developments in geofoams

The large-scale development of infrastructure in emerging economies and the maintenance of existing infrastructure in developed countries are driving the market for geofoam. Expanded polystyrene offers several advantages compared to conventional earthen embankments, which include rapid construction and the use of prefabricated bridge and bridge support components. Such technological innovations of geofoam applications further expected to propel the growth of the geofoam market.

Rising demand for expanded polystyrene geofoam accelerating the market growth

Expanded polystyrene geofoam is gaining popularity as a generally appropriate and cost-effective building insulation material. It is widely used for structural filling materials, elevated slab applications, road building. These geofoams are highly lightweight and can withstand harsh environments. The two main properties that make EPS geofoam so attractive in design and construction are its low density for stress and deformation-related construction problems and its thermal insulation properties that help to fight frost-related problems.

Recent strategic developments in geofoam market

The geofoam market has undergone several significant developments, and a few of these have been mentioned below:

• In June 2021, Airfoam launched a new product, Foamshield, which is one of the most long-lasting and economical ways to insulate a home. The FoamShield wall assembly is made up of stiff Korolite EPS insulation, which can be applied to the outside of an uninsulated wood-frame wall with a sheathing membrane.
• In August 2020, Amvic Inc. launched Envirostrap, a rigid foam insulation with integrated strapping. Envirostrap is made of expanded polystyrene (EPS) closed cell and can be used for a variety of applications such as frost walls, exterior foundation walls, and so on.

The geofoam market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Insulfoam, Insulation Company of America, LLC, Jablite, ThermaFoam, LLC, Expol are among the prominent players operating in the market.

Target audience for the report:

• Raw material providers
• Geofoam related associations, organizations, forums, and alliances
• Government bodies, such as regulating authorities and policy makers
• Venture capitalists, private equity firms, and start-up companies
• Application industry of geofoam market
• Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

• Type

• Expanded Polystyrene Geofoams
• Extruded Polystyrene Geofoams

• Application:

• Road and Highway Construction
• Building and Infrastructure
• Airport Runways and Taxiways
• Others

• Region
  • North America
  • Europe
  • Asia Pacific (APAC)
  • South & Central America
  • Middle East & Africa
• Companies profiled
  • Insulfoam
  • Insulation Company of America, LLC
  • Jablite
  • ThermaFoam, LLC
  • Expol

Companies profiled
- Insulfoam
- Insulation Company of America, LLC
- Jablite
- ThermaFoam, LLC
- Expol