Geofoams Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Type (Expanded Polystyrene and Extruded Polystyrene), End-user Industry (Roadways and Buildings), and Geography

Market Snapshot

Geofoams Market - Market Summary
Study Period:


Base Year:


Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The geofoams market is expected to grow at a CAGR of around 7.8% during the forecast period of 2019 – 2024. The major factors driving the growth of market studied are rising demand for geofoams from roadways, better alternative to traditional land stabilization materials, and increasing investments in the construction sector, especially in Asia-Pacific& Middle East & Africa. On the flipside, high vulnerability to petroleum solvents, and limited technical knowledge & expertise about geofoams in emerging economies are likely to hamper the growth of the studied market.

  • Roadways segment dominated the market in 2018 and is likely to grow during the forecast period, with growing infrastructure investments, especially in regions, like Asia-Pacific & Middle East & Arica.
  • Increase in deployment of EPS bridge support technology in earthquake-prone areas is likely to provide opportunities for the studied market during the forecast period.
  • Asia-Pacific dominated the market across the globe, with robust growth in the residential & commercial construction, and growing public infrastructure projects in the emerging economies, such as India, Vietnam, and Indonesia, in the region.

Scope of the Report

The global geofoams market report includes:

Expanded Polystyrene (EPS)
Extruded Polystyrene (XPS)
End-user Industry
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Roadways Segment to Dominate the Market Demand

  • Roadways dominate the demand for geofoams. Geofoams are the most integral raw material used in roadways for construction over poor soils, road widening, foundation stabilization, airport runways & taxiways, bridge abutments, rail embankments, and underfill purposes.
  • Geofoams are extensively used in road construction in order to fill void and provide structure support over poor soils. Thus, with growth in road construction projects the demand for geofoams is expected to increase during the forecast period.
  • Asia-Pacific has been witnessing substantial roadways projects, along with growing commercial construction. Various foreign companies have been investing in countries, such as India, Indonesia, South Korea, China, and Vietnam, due to huge market demand and growth opportunities in such countries.
  • With this, it has become important for the government to increase public infrastructure for promoting such foreign companies by offering proper infrastructure, which is expected to increase the demand and application of geofoams in the region.
  • The increasing investments in Middle-East & Africa for construction of highways & airports is further likely to drive the demand of geofoams in the coming years. In addition, Fifa World Cup 2022 in Qatar is one of the major event which has led to boost in transportation projects in the region.
  • Hence, all such growing infrastructure investments are projected to drive the growth of geofoams market during the forecast period.
Geofoams Market - Segmentation

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global market share in 2018. Growing infrastructure spending by the governments, and robust growth in residential & commercial construction in the region is projected to drive the demand for geofoams in the region.
  • The governments in countries, such as China, India, Indonesia, and South Korea have already planned huge investments into public infrastructure, which is likely to create huge demand for geofoams in the region.
  • China currently has numerous airport construction projects, such as, which are either in development or planning stage. These include - Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, etc. Besides, the government rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities over the next ten years.
  • Additionally, the Indian government has announced its plans to build 100 airports before 2032, to meet the growing needs. An investment of about USD 60 billion is expected to flow for the aviation sector. Besides, the government has an investment target of USD 120.5 billion for developing 27 industrial clusters, which is expected to boost commercial construction in the country.
  • In Indonesia, the government planned to invest in construction sector about USD 450 billion by 2021, which is expected to provide boost to residential construction in the country.
  • Hence, all such projects are likely to boost the demand for geofoams in the region during the forecast period.
Geofoams Market - Regional Trends

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Competitive Landscape

The geofoams market is a moderately fragmented market, where numerous players holds insignificant share of the market demand to affect the market dynamics individually. Some of the noticeable players in the market include ACH Foam Technologies, Poly Molding LLC, AFM Corporation, Carlisle, and Atlas EPS, amongst others.

Major Players

  1. ACH Foam Technologies
  2. Poly Molding LLC
  3. AFM Corporation
  4. Carlisle
  5. Atlas EPS

* Complete list of players covered available in the table of contents below

Geofoams Market - Market Concentration

Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Rising Demand for Geofoams from Roadways

      2. 4.1.2 Better Alternative to Traditional Land Stabilization Materials

      3. 4.1.3 Increasing Investments in the Construction Sector of Asia-Pacific

    2. 4.2 Restraints

      1. 4.2.1 High Vulnerability to Petroleum Solvents

      2. 4.2.2 Limited Technical Knowledge and Expertise about Geofoams in Emerging Economies

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Type

      1. 5.1.1 Expanded Polystyrene (EPS)

      2. 5.1.2 Extruded Polystyrene (XPS)

    2. 5.2 End-user Industry

      1. 5.2.1 Roadways

      2. 5.2.2 Buildings

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle East & Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle East & Africa


    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ACH Foam Technologies

      2. 6.4.2 AFM Corporation

      3. 6.4.3 Atlas EPS

      4. 6.4.4 Beaver Plastics

      5. 6.4.5 Carlisle

      6. 6.4.6 Drew Foam (Branford Castle)

      7. 6.4.7 FMI-EPS LLC

      8. 6.4.8 Harbor Foam Inc.

      9. 6.4.9 Insulation Corporation of America

      10. 6.4.10 NOVA Chemicals Corp.

      11. 6.4.11 Plasti-Fab Ltd

      12. 6.4.12 Poly Molding LLC

      13. 6.4.13 Styro Ltd

    5. *List Not Exhaustive

    1. 7.1 Deployment of EPS Bridge Support Technology in Earthquake-prone Areas

**Subject to Availability

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