The Global Geofoams Market accounted for $738.95 million in 2018 and is expected to reach $1,514.5 million by 2027, growing at a CAGR of 8.3% during the forecast period.
Superior properties and broad cost savings of geofoams, wide usage in the construction of road networks and rapid urbanization across the globe are the factors driving the market growth. However, flammability and intolerance to petroleum solvents may hinder the market growth.
By Application, the Road & Highway Construction segment is likely to have a huge demand during the forecast period due to the increasing infrastructural growth in emerging economies. Based on geography, Asia Pacific is going to have a lucrative growth during the forecast period owing to the growing road & highway construction in the rising economies of this region.
Some of the key players profiled in the Geofoams Market include Insulation Corporation of America, Carlisle Construction Materials (CCM), ACH Foam Technologies LLC, Airfoam Industries Ltd, Mega Packing Corporation, Pacific Allied Products Ltd, Foam Products Corporation, Groupe Legerlite Inc, Thermafoam LLC, Amvic Building Systems, Jablite, Expol Ltd, Harbor Foam, Benchmark Foam Inc, and Starr Foam.
What this report offers:
Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers Market data for the years 2017, 2018, 2019, 2023 and 2027