Global Geofoam Industry was valued at USD 769 million in 2023 and is set to progress at over 7.4% CAGR over the next 10 years, owing to a positive approach towards renewable construction projects and increasing infrastructural expenditure around the world.
The void fill application segment is set to reach a valuation of USD 1 billion by 2032 on account of high product utilization as a void-fill material for bridge abutments, theater seating, road widening, and under flooring.
The EPS geofoam segment is projected to be valued at more than USD 1.4 billion by 2032 as a result of its properties, such as good thermal insulation, lightweightness, stiffness, compression, and more.
Asia Pacific geofoam industry is projected to depict a 7.5% CAGR between 2023 and 2032 as a result of the expanding population, coupled with the increasing disposable income in the region.