According to the research report titled ‘Asia Pacific Geofoam Market Forecast 2027 By Application, By Product Type, By End Use, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share,’ available with MarketStudyReport, Asia Pacific geofoam market is expected to amass USD 490 million during the period 2021-2027.
 

An upsurge in infrastructure activities, coupled with widespread product adoption in construction of roads, railways, and buildings across the region are acting as the major growth stimulants of Asia Pacific geofoam market.

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For those unversed, geofoam is a form of thermoplastic made from polystyrene polymer and can be shaped differently based on application. It is used because of its timesaving, high resistance, and cost-effective features. 

In terms of product type, the EPS segment is anticipated to garner significant growth during the forecast period, due to its beneficial customization features that make it easy to cut & reshape. Also, its usage in geotechnical applications like construction of damns, airports, and stabilization of slopes is responsible for the segmental growth. 

From an application standpoint, the insulation vertical of Asia Pacific geofoam industry is likely to record a 6.4% CAGR during the analysis period, due to beneficial properties like great thermal insulation with high R-value and cost-effectivess, making it a preferable material for construction activities. 

Speaking of end-user ambit, the roads & railways segment is estimated to register an upward growth curve during the projected timeline, owing to the rapid increase in infrastructure activities in developing countries like India and China. 

Concerning the geographical scope, several countries like India, China, etc. are undergoing an economic transition, which is prompting the infrastructural development across numerous sectors like real estate, transport, and others. Moreover, rise in disposable income resulting in rapid urbanization is stimulating the market expansion.

The key participants influencing Asia Pacific geofoam market trends are Beaver Plastics Ltd., Carlisle Construction Materials LLC, Airfoam Industries Ltd., Jebsen & Jessen Packaging Sdn Bhd, Amvic, Inc., DuPont de Nemours, Inc., ACH Foam Technologies, Inc., Unipod Pty Ltd., Drew Foam Companies, Inc., and E-Pack Polymers Private Limited among others.