Geofoam Market is expected to grow at a CAGR of 7.4 percent reaching 1384.45 Mn during the forecasting period (2024-2030)

(EMAILWIRE.COM, July 09, 2024 ) Asia-Pacific: Investment in fixed assets in China grew by 4.9% in 2021, up from 2.9% in 2020. India’s Bharatmala Pariyojana aims to build 1,080 km of highways across several states, with projects worth Rs. 25,370 crore (US$ 3.4 billion) in Gujarat. The Ministry of Road Transport and Highways allocated Rs. 165 crore (US$ 22 million) for FY22 under the Economic Importance and Inter State Connectivity Scheme (EIC&ISC).

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North America: The US economy is valued at $20 trillion, relies on extensive infrastructure including roads, bridges, freight rail, internet access etc. Investment in new infrastructure and maintenance is expected to boost the economy and create jobs.

Europe: Transportation infrastructure significantly impacts growth and employment, contributing to 5% of GDP and employing around 10 million people.

EPS geofoam is multi-functional, suitable for various applications including fill and embankment projects. Minnesota Department of Transportation (MnDOT) has achieved significant time and cost savings using geofoam for small and moderate-sized roadway embankment projects over deep, soft, organic soil deposits.

Market Segmentation

By Product Types

EPS geofoam

XPS geofoam

By Application

Void fill

Sole stabilization

Embankments

Retaining structures

Insulation

Others

By End-Users

Roadways & railways

Buildings & structure

Others

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Market Key Players include

Airfoam

Amvic Building Systems

Atlas Roofing Corporation

Beaver Plastics Ltd.

Benchmark Foam Inc.

Stellar Market Research is leading Chemical and Material research firm, has also published the following reports:

Hydrogen Pipelines Market size was valued at USD 9.12 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 15.30% from 2024 to 2030, reaching nearly USD 24.7 Bn. by 2030.

Carbon black Market size was valued at USD 23.48 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 5.1% from 2024 to 2030, reaching nearly USD 33.04 Bn. by 2030.

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