Global Geofoams Market: Overview
Geofoams are extruded polystyrene (XPS) or expanded polystyrene (EPS), which can be manufactured into lightweight blocks that offer desired strength and protection against heat or frost. The construction industry is the primary consumer of geofoams, finding application in road repair and in other concrete parts of a building. With rapid urbanization across the world, especially in vastly populated and large-landscaped countries such as India, UAE, and China, the construction industry is currently flourishing. This factor in turn is providing traction to the global geofoams market, which is projected to expand at a robust rate during the forecast period of 2016 to 2023.
This report on the global geofoams market has been developed in order to provide useful insights from business perspective to targeted audiences such as manufacturers of geofoams, traders and distributors, and government agencies across the world. The report studies all the factors that may influence the demand for geofoams in the near future and estimates the opportunities in the market until 2023. Several leading companies operating in the global geofoams market have also been profiled for their geographical presence, share of the pie, competitors, and recent developments.
Application-wise, the global geofoams market can be segmented into building and construction, roadways, vibration and noise damping, landfill, and bridges while on the basis of type, the market can be categorized into EPS geofoams and XPS geofoams. Geographically, the report evaluates the opportunities available for the stakeholder of geofoams market in regions such as the Middle East and Africa, North America, Latin America, Europe, and Asia Pacific.
Global Geofoams Market: Trends & Opportunities
Roadways continue to be the major application segment for geofoams. India and other emerging economies are continuously improving their road-infrastructure and the lightweight material is being preferred over other alternatives and driving the demand in the global geofoams market. In addition to construction and roadways, geofoams are now being used for large industrial pipes and as compressible inclusions in tunnels. There is no real requirement of mechanical fastening when working with geofoams, which leads to various benefits and reduces the overall cost of the construction.
Moreover, geofoams are quite immune to external environmental conditions and can be readily formulated at the construction site. This is another factor favoring the global geofoams market. As geofoams offer excellent dampening of noise and vibration, their application is now expanding beyond building construction and roadways to bridges, railway tracks, beneath refrigerated storage buildings, and storage tanks that help in preventing ground freezing. With this expanding application, the demand in the global market for geofoams is expected to consistently grow during the forecast period. On the other hand, vulnerability of geofoams when subjected to certain petroleum solvents necessitates extra care to be taken during the construction.
Global Geofoams Market: Regional Outlook
North America, gaining demand primarily from the U.S. and Asia Pacific, which is driven by China and India, are two of the most lucrative regions in the global geofoams market. Acceptance of geofoams in these two regions is expected to sustain the growing demand for the same throughout the forecast period.
Companies mentioned in the research report
Expol Ltd., Carlisle Construction Materials, ACH Foam Technologies, LLC, Amvic Building Systems, Pacific Allied Products Ltd, and Groupe Legerlite, Inc. are some of the leading companies in the global geofoams market. A few other prominent vendors in this market are: BASF Corporation, Androp Packaging, INC., Benchmark Foam Inc., Branch River Plastics, Inc., Cellofoam North America Inc., Beaver Plastics Ltd, Big Sky Insulations, Inc., Drew Foam Companies Inc., EPS Industry Alliance, and Foam Distributors Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.