Geofoams Market | Key players operating in the market include Carlisle Construction Types (CCM), Amvic Building Systems, ACH Foam Technologies, LLC, Jablite, Expol Ltd., Foam Products Corporation

According to recent market research "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", The geofoams market is projected to grow from USD 786 million in 2019 to USD 1,069 million by 2024, at a CAGR of 6.3% from 2019 to 2024.

The rising demand from varying sectors such as, road construction, road widening, in bridges, as buried structures, embankments, and others, as well as the incessant infrastructural growth in emerging economies, such as China, India, Brazil, Saudi Arabia, UAE, and Mexico worldwide is one of the key factors driving the growth of the geofoams market across the globe.

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The geofoams market is projected to grow from USD 786 million in 2019 to USD 1,069 million by 2024, at a CAGR of 6.3% from 2019 to 2024. 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. Incessant infrastructural growth in emerging economies, such as China, India, Brazil, Saudi Arabia, UAE, and Mexico is one of the key factors driving the growth of the geofoams market across the globe.

Geofoam is made with the use of Expanded Polystyrene (EPS), or Extruded Polystyrene (XPS) manufactured in the form of large lightweight blocks. EPS geofoams are made from a material called polystyrene polymer. The raw material of EPS is composed of small plastic beads, whereas that of XPS begins is molten material. XPS is most commonly used as foam board insulation and is more expensive than EPS. These blocks vary in size though the general dimensions are 2m x 0.75m x 0.75m. The major function of geofoam is to provide a lightweight void fill below highways, bridge approaches, embankments, or parking lots. EPS Geofoam minimizes settlement on underground utilities. Geofoam is also used in other applications, such as lightweight fill, green roof fill, compressible inclusions, thermal insulation, and drainage.

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The geofoams market is projected to grow from USD 786 million in 2019 to USD 1,069 million by 2024, at a CAGR of 6.3% from 2019 to 2024. 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. Incessant infrastructural growth in emerging economies, such as China, India, Brazil, Saudi Arabia, UAE, and Mexico is one of the key factors driving the growth of the geofoams market across the globe.

Carlisle Construction Materials (CCM) (US), Amvic Building Systems (Canada), ACH Foam Technologies, LLC (US), Jablite (UK), Expol Ltd. (New Zealand), Foam Products Corporation (US), Harbor Foam (US), Airfoam Industries Ltd. (Canada), Pacific Allied Products Ltd. (US), Thermafoam LLC (US), Groupe Legerlite Inc. (Canada), and Insulation Corporation of America (US) are some of the leading players operating in the geofoams market. These players have adopted the strategies of acquisitions, new product launches, expansions, partnerships, and agreements to enhance their position in the market.

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In January 2019, Carlisle Companies Incorporated, through its Carlisle Construction Materials (CCM) operating segment acquired Petersen Aluminum Corporation (US), which manufactures metal roofing products for USD 197 million. The acquisition created synergy with Carlisle Construction Materials (CCM) strategy, of providing its customers with a portfolio of high quality, innovative products, and solutions that meet an increasing array of building needs.

In December 2017, Amvic Building Systems acquired Forte EPS in Ontario (Canada) to expand their geographic reach in the North American region and to meet the increasing demands of the growing customers. This helped them to gain and capture the market. This acquisition made them understand the different applications in which geofoams can be used to provide a better product to customers

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