(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Jul 20, 2021, 04:08 /Comserve / -- “The geofoams market is projected to grow at a CAGR of 6.3% from 2019 to 2024, in terms of value.”
“The geofoams market is projected to grow at a CAGR of 6.3% from 2019 to 2024, in terms of value.”
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. The factors such as flammability and intolerance to petroleum solvents are the major restraints into the widespread acceptance of geofoams at a global level.
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“The road & highway construction segment is projected to lead the geofoams market in terms of both value and volume during the forecast period.”
Based on application, the road & highway construction segment led the geofoams market in 2019 in terms of both value and volume. The growth of this segment can be attributed to incessant infrastructural growth in emerging economies, such as China, India, Brazil, Saudi Arabia, UAE, and Mexico, which is driving the growth of the road & highway construction segment. Furthermore, factors such as better road connectivity in the regions such as Asia Pacific, Europe, and Middle East are resulting in the hike in demand for road & highway construction segment and thus propelling the demand for geofoams as well.
“The expanded polystyrene (EPS) geofoam type segment is projected to lead the geofoams market in terms of both value and volume from 2019 to 2024.”
“Asia Pacific is projected to lead the geofoams market during the forecast period, in terms of both value and volume.”
The Asia Pacific region is projected to lead the geofoams market from 2019 to 2024, in terms of both value and volume. The demand for geofoams is increasing in Asia Pacific owing to growth in road & highway construction in the region. Also, the rising economies such as China and India in the region is expected to fuel the demand for new road pavements and consecutively for the geofoams in the region. The market in this region is also projected to continue its market dominance in terms of both value and volume, from 2019 to 2024, owing to the increased demand for geofoams from countries such as China, Japan, South Korea, and India.
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"The Final Report will cover the impact analysis of COVID-19 on this industry (Geofoams Market by Type, Application, Region - Global Forecast to 2024)
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 45%, Tier 2 – 30%, and Tier 3 – 25%
• By Designation: CXO – 55%, Directors – 20% and Others – 25%
• By Region: North America – 35%, Europe – 20%, Asia Pacific – 15%, Middle East & Africa – 25%, and South America – 5%
Furthermore, as a part of the qualitative analysis of the geofoams market, the research provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe. It also discusses competitive strategies adopted by the leading market players such as 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.
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The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the geofoams market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
TABLE OF CONTENTS
1 INTRODUCTION 18
1.1 OBJECTIVES OF THE STUDY 18
1.2 MARKET DEFINITION 18
1.3 SCOPE OF THE STUDY 19
1.3.1 MARKETS COVERED 19
1.3.2 YEARS CONSIDERED FOR THE STUDY 20
1.4 CURRENCY CONSIDERED 20
1.5 PACKAGE SIZE 20
1.6 STAKEHOLDERS 20
2 RESEARCH METHODOLOGY 21
2.1 RESEARCH DATA 21
2.1.1 SECONDARY DATA 22
2.1.1.1 Key data from secondary sources 22
2.1.2 PRIMARY DATA 23
2.1.2.1 Key data from primary sources 23
2.1.2.2 Key industry insights 23
2.1.2.3 Breakdown of primary interviews 24
2.2 MARKET SIZE ESTIMATION 24
2.2.1 BOTTOM-UP APPROACH 24
2.2.2 TOP-DOWN APPROACH 25
2.3 DATA TRIANGULATION 26
2.4 RESEARCH ASSUMPTIONS 27
2.5 LIMITATIONS 27
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