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 anticipated to amass USD 490 million by 2027.
 

Growing infrastructure development activities and escalating demand for smart buildings across real estate, energy and transport sector driven by notable economic transitions are propelling the growth of Asia Pacific geofoam market.
 

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For the unversed, geofoams are a type of thermoplastic made from polystyrene which can be given various shapes from time o time.  It is predominantly used in the construction of buildings, roads, and railways as they offer high durability over other insulation materials.
 

In addition, increasing disposable income, rapid urbanization, and prospering construction sector are augmenting the overall industry outlook.
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By product type, the marketplace is split into EPS and EXPS. Among these, EPS segment is projected to amplify significantly during the study period as it is lightweight and easy to cut as well as reshape, which in turn has augmented its adoption as a raw material while making geofoams.
 

Based on application, Asia Pacific geofoam market is bifurcated into void filling, slope stabilization, insulation, embankments, retaining structures, and others. Among these, insulation segment is poised to register a CAGR of 6.4% through 2027 creditable as it offers great thermal insulation, high R value, and its cost effective as well as durable nature.
 

In terms of end use, the industry is divided into road & railways, building & construction, and others. Among these, road & construction is slated to show lucrative progression trends over the forecast duration owing to increasing infrastructure development activities in nations like China and India.
 

Key players defining the competitive hierarchy of Asia Pacific geofoam market are Beaver Plastics Ltd.,  Airfoam Industries Ltd., Amvic Inc., ACH Foam Technologies LLC, Drew Foam Companies Inc., E-Pack Polymers Pvt. Ltd., Unipod Pty Ltd., DuPont de Nemours Inc., Jebsen & Jessen  Packaging  Sdn Bhd, and Carlisle Construction Materials LLC.