Geofoam is an engineered foam material that is used to create lightweight, yet strong fill or void-fill solutions. It is made of expanded polystyrene (EPS) beads that are formed into blocks or molded shapes. This foam material is extremely lightweight and is used mainly for construction applications where weight is an issue, such as in road construction, embankments, highway overpasses, and other civil engineering projects. The demand for geofoam is growing due to its durability, flexibility, ease of installation, and cost-effectiveness. It can also be used in roofing, landscaping, and soundproofing applications.
The global geofoam market size is estimated at USD 755 million in 2021 and is projected to reach USD 1,037 million by 2026, at a CAGR of 6.5% between 2021 and 2026, owing to the increase in infrastructural development and rise in spending on infrastructures, such as roads, highways, residential buildings, and other constructions. The expanded polystyrene segment is projected to grow at a faster rate during the forecast period, from 2021 to 2026. Expanded polystyrene (EPS) is the most widely used type of geofoam for construction purposes because of its simple manufacturing process, flexible size, recyclability, and other properties.
The key market players include Carlisle (US), Amvic Building Systems (Canada), Atlas Roofing Corporation (US), Insulation Company of America (US), Foam Products Corporation (US), Jablite (UK), ThermaFoam, LLC (US), Expol (New Zealand), Pacific Allied Products, Ltd. (US), Airfoam (Canada), Harbor Foam (US), Groupe Legerlite Inc. (Canada), Drew Foam (US), and Plasti-Fab Ltd. (Canada) and others.
Carlisle Construction Materials is a manufacturer and supplier of high-quality building materials for the construction industry. The company is a subsidiary of Carlisle Companies Incorporated (US), a global diversified company that manufactures and markets a variety of products for niche markets such as energy, commercial roofing, agriculture, construction, mining, aerospace & defense, electronics, and so on. The company provides environment-friendly and sustainable products that help in reducing carbon footprint of a building and minimize its energy consumption. CCM has its operations of 42 plants in North America and 7 in Europe. The company has 26 manufacturing facilities across the US.
Another important player in the geofoams market is Amvic Inc. is a leading manufacturer of expanded polystyrene (EPS) building materials and insulated concrete forms (ICF). The company has developed by launching new and innovative insulation building solutions. The main businesses of Amvic Building Systems include insulated concrete foams (ICF) and insulation. Apart from this, it has other businesses, such as ECOAIR systems, thermoquiet, and geofoams. The company manufactures geofoams which are used in various applications, such as construction of roads, embankments, retaining walls, and so on. Amvic has a wide range of network distributors which cater to the various needs of customers. Apart from this, the company has signed partnerships with molders, suppliers & dealers, and ready-mix producers. Amvic has manufacturing facilities in Canada, Mexico, Ireland, Romania, and Russia.
