Market Analysis
The insulated concrete form (ICF) market is predicted to touch USD 1,857.3 million at a 7% CAGR between 2022 to 2030 states the recent Market Research Future (MRFR) analysis. Insulated concrete form or ICF, simply put, is a system of formwork for the reinforced concrete made of rigid thermal insulation, which remains as a permanent exterior and interior substrate for roofs, floors, and walls. It is available in different concrete shapes such as post and lintel system, a waffle grid system, a screen grid system, and a flat wall system. An insulated concrete form is made of different materials such as cement-bonded polystyrene beads, cement-bonded wood fiber, polyurethane foam, polystyrene foam, and more. Owing to its excellent properties and multiple benefits, it has wide applications in industrial sectors, infrastructural, residential, and commercial sectors.
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Various factors are propelling the global ICF market share. As per the current MRFR report, such factors include its advantages such as greater structural strength and improved energy efficiency, increasing use in industrial, infrastructural, residential, and commercial sectors, burgeoning demand for hi-rise residential buildings, and demand for energy-efficient buildings during the COVID-19 breakthrough. Additional factors adding to the Insulated Concrete Form Market Share include the growing demand for sustainable and green construction to reduce disaster resiliency and carbon footprint, the cooling and heating advantages in modern construction, and mounting urbanization in developing countries. Besides, uninterrupted prosperity and growth of the ICF in the infrastructural and construction sector, technological superiority over conventional framed walls roof system, growing concerns about the electricity costs and fall in carbon dioxide levels are also adding market growth.
On the contrary, fluctuating raw material prices may limit the global insulated concrete form market growth over the forecast period.
Market Segmentation
The MRFR provides an inclusive segmental analysis of the global insulated concrete form market based on applications, material type, and concrete shape.
By concrete shape, the global insulated concrete form market is segmented into post and lintel system, a waffle grid system, a screen grid system, and a flat wall system.
By material type, the global insulated concrete form market is segmented into cement-bonded polystyrene beads, cement-bonded wood fiber, polyurethane foam, polystyrene foam, and more.
By application, the global insulated concrete form market is segmented into industrial sectors, infrastructural, residential, and commercial.
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Regional Analysis
By region, the global insulated concrete form market report covers the recent trends and growth opportunities across North America, the Asia Pacific (APAC), Europe, the Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period. Burgeoning demand for insulated concrete form from end user industries, mostly the US by institutional and commercial sub-segments, and growing residential construction industry are adding to the global insulated concrete form market growth in the region.
In the APAC region, the insulated concrete form market is predicted to have significant growth over the forecast period. Rising infrastructure expenditure, especially in developing economies of Malaysia, Indonesia, and India, rising urbanization and population, and essential improvements in government regulations are adding to the insulated concrete form market growth in the region.
The global insulated concrete form market in Europe is predicted to have healthy growth during the forecast period, and in the Rest of the World is predicted to have sound growth over the forecast period.
Key Players
Leading players profiled in the global insulated concrete form market report includes Airlite Plastics Company, Durisol Building System Inc., Plasti-Fab Expanded Polystyrene Product Solutions, BuildBlock Building Systems Inc., Amvic Building System, Reward Wall Systems Inc., Logix Insulated Concrete Forms Ltd., Nudura Corporation, Quad-Lock Building Systems Ltd., and IntegraSpec ICF.
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