What is the future of Geofoams Market? Know Covid Impact on Size, Share & Forecasts
July 01, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Geofoams Market.
It was estimated prior to this unanticipated outbreak that the Geofoams Market was expected to grow at a CAGR of 9.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Geofoams are large blocks of lightweight foams that are manufactured of extruded polystyrene (XPS) or expanded polystyrene (EPS).
Geofoams have a primary function of filling gaps without adding on weight. Roadways and building & construction are the most common application areas of geofoams usage.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the type, the market is segmented as EPS geofoams and XPS geofoams. The XPS geofoams segment is estimated to depict a faster growth in the coming years. The growth is attributed to the overall growth in the use of geofoams owing to the growing cognizance about the advantages of geofoams over conventional land stabilization materials in various construction activities.
Based on the application type, the market is segmented as roadways and building and construction. The roadways application segment is expected to be the faster-growing segment during the forecast period. The rising demand from various core sectors, such as construction and roads & highways is the prime factor contributing to the rapid growth of the global geofoams market.
In terms of regions, Asia-Pacific is the largest consumer of geofoams and is also estimated to depict high growth in the coming five years. China and India are the growth engines of the region. The market is majorly driven by the rise in geofoams’ demand from various application segments, such as construction and roads & highways. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.
Key Players:
Some of the major players in the geofoams market are ACH Foam Technologies, LLC, Amvic Building Systems, Carlisle Construction Materials, Expol Ltd., Groupe Legerlite, Inc., Insulation Corporation of America, Mansonville Plastics (BC) Ltd., Poly Molding LLC, and Thermafoam LLC.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Geofoams Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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