Geofoams Market – Global Industry Analysis, Size, Share, Forecast 2016 – 2023
Cellular geosynthetics is the common term used to describe geosynthetic materials which either have a closed cell texture or an open cell texture. Geosynthetics are classified into several categories such as geofoams and geocombs. Geofoams are primarily used as filler materials in the construction industry due to their low weight. These light weight blocks possess numerous properties such as protection against frost and easy installation as per customized shapes and sizes. Moreover, the reduced weight of geofoams significantly lowers the transportation cost, thereby enabling these blocks to be transported over long distances to the designated construction site. The geofoams market is currently dominated by the U.S. due to its increased construction requirements. However, the significant growth witnessed by the construction industry in countries of Asia Pacific and the Middle East is anticipated to shift the demand for geofoams toward countries of Asia Pacific, specifically India, China, Indonesia, and Malaysia during the next few years.
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Geofoams are geosynthetics that are mainly used in the construction industry for embankments or as compressible inclusions in tunnels and for large industrial pipes. Geofoams exhibit several promising qualities such as low weight, protection against frost, and no need for mechanical fastening which are essential requirements for the infrastructure industry. The low weight of geofoams reduces the load forced on nearby and underlying soils and structures. Geofoams help to achieve various construction benefits and lower the overall cost of construction. Moreover, they are easy to handle during construction and do not require any special equipment for their usage. In addition, geofoams remain largely unaffected by external environmental conditions and could be shaped on a project site. This further reduces the challenges encountered at the construction site. The light load impact of geofoams improves the stability of the construction structure against bearing and slope failures. In addition to roads and bridges, geofoams are used in railway track systems, beneath refrigerated storage buildings, and even in storage tanks to prevent ground freezing. Geofoams also offer noise and vibration dampening essential in the construction industry.
Developing countries in Asia Pacific are anticipated to be the emerging markets for geofoams due to their extensive demand from the roads and commercial construction industry during the next eight years. There is significant market potential for the construction industry in countries such as India, China, Indonesia, Qatar, Thailand, and Brazil due to the rapid infrastructure development taking place in these countries. These countries are expected to witness the building of extensive road networks during the next few years. Moreover, countries such as Brazil, Argentina, South Africa, Saudi Arabia, Egypt, and Israel are experiencing rapid growth in residential and commercial construction and manufacturing industries since the past few years. The rising demand for geofoams in the construction sector in these countries is anticipated to boost the global geofoams market in the next decade. Major players operating in the geofoams market are primarily focusing on emerging countries for tapping their immense potential in the construction industry. Rail embankment is another major application of geofoams. Growth in dense railway network in developing economies is likely to boost the geofoams market. Demand for geofoams is expected to increase during the next few years due to the lower cost of geofoams as compared to conventional construction materials. In a nutshell, the versatility of geofoams for use during the construction process in the infrastructure industry is expected to drive the geofoams market during the next eight years.
Key players operating in the geofoams market include companies such as Big Sky Insulations, Inc., Pacific Allied Products, Ltd., ACH Foam Technologies, LLC, Poly-foam Inc., Branch River Plastics, Inc., Cellofoam Winchester, Thermafoam, LLC, Poliestireno Alfa-Gamma, Pacific Allied Products, Ltd., AFM Japan, Greenbuilders, Inc., Rmax, and Shanghai Broadway Packaging & Insulation Materials Co., Ltd.
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