According to the research report titled ‘Geofoam Market Size By Product Type (EPS Geofoam, XPS Geofoam), By Application (Void Fill, Slope Stabilization, Embankments, Retaining Structures, Insulation, and Others), By End Use (Road & Railways, Building & Construction, and Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, global geofoam market is expected to register considerable growth during 2021-2027.
 

Widespread adoption of the product in construction activities along with increasing development of green infrastructure are some of the major factors driving the growth of global geofoam market. The product is extensively used for road constructions since it helps in reducing vibration and noise under railways and highways.
 

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Geofoams are also used to prevent landslides. They act as thermal insulation as well as help in lowering air conditioning costs in residential and commercial establishments. Thus, increasing awareness regarding the benefits of the product are stimulating the overall industry outlook.
 

As per product type, the report cites that global geofoam market from XPS segment is likely to showcase a y-o-y growth rate of 6.6% through 2027. Favorable government initiatives which encourages the adoption of XPS geofoam for insulating building & structures are fueling the overall market size.
 

Based on application spectrum, the insulation segment is likely to account for a significant market share by the year 2027. Exceptional thermal insulation and high durability properties are fueling the product demand across the globe.
 

In terms of end user spectrum, the road & railways segment is likely to capture majority of the market share by 2027, owing to increasing infrastructure development and high product penetration for construction activities.
 

Regionally, Middle East & Africa is calculated to capture 1% share in global geofoam market by 2027, owing to proliferating construction sector and high concentration of leading companies.
 

The prominent companies operating in global geofoam market are Branch River Plastics Inc., Epack Polymers Private Limited, PFB Manufacturing LLC, Benchmark Foam Inc., ThermaFoam Operating LLC, Unipod Pty Ltd., Pacific Allied Products Ltd., Beaver Plastics Ltd., National Polystyrene Packaging Factory LLC, Airfoam Industries Ltd., Amvic Inc., DuPont de Nemours Inc., Drew Foam Companies Inc., Poliestireno Alfa-Gamma S.A., Jebsen & Jessen Packaging Pte Ltd., Cellofoam North America Inc., Carlisle Construction Materials LLC, and ACH Foam Technologies Inc.