The Global Insulated Concrete Form Market Size was valued at USD 1,138 Million in 2021 and is projected to reach the market value of USD 1,852 Million by 2030, growing at a CAGR of 5.9% during the forecast period from 2022 to 2030.
According to The Constructor Organization, insulated concrete forms (ICF) are a building system that utilizes lightweight formwork (made of an insulating material) to support concrete walls while they are being cast in situ and are then left in place as insulation. Insulating concrete forms, or ICFs, are forms that hold fresh concrete and are permanently installed to provide insulation for the framework they enclose. This building method is well-known for its increased strength and energy efficiency. ICFs are commonly used in commercial and residential low-rise buildings. Rapid urbanization in emerging economies is one of the prominent insulated concrete form market trends that is driving industry growth. In addition, the growth in the construction industry is expected to boost the insulated concrete form market revenue in the coming years. According to our insulated concrete form industry analysis, the numerous benefits offered by these concrete form in the construction industry is creating a buzz in the market.
Insulated Concrete Form Market Drivers
Insulated Concrete Form Market Restraints
Insulated Concrete Form Market Opportunities
Insulated Concrete Form Market Report Coverage
|Market||Insulated Concrete Form Market|
|Insulated Concrete Form Market Size 2021||USD 1,138 Million|
|Insulated Concrete Form Market Forecast 2030||USD 1,852 Million|
|Insulated Concrete Form Market CAGR||5.9% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Type, By Material, By Application, And By Region
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Airlite Plastics Company, Amvic Inc., Beco Products Ltd., BASF SE, Durisol UK, BuildBlock Building Systems, LLC., Logix Insulated Concrete Forms Ltd., Fox Blocks, Nudura Corporation, Quad-Lock Building Systems, Ltd., and Standard ICF Corporation.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Insulated Concrete Form Market Dynamics
Our worldwide insulated concrete form market forecast says that the surging demand for energy-efficient green buildings will favorably drive the industry growth in the coming future. As per the Green Buildings Solutions Organization, blending the thermal qualities of extruded and expanded polystyrene (XPS and EPS) plastic with strength and durability is seen as an economical solution. The potential energy savings from reducing the energy consumption needed to heat or cool the building are the main attraction of insulated concrete forms. These savings can amount to 20% or more.
Growth in the construction industry coupled with the rapid urbanization is likely to surge the insulated concrete form market value. The IBEF organization predicts that India will be the third biggest construction market by 2022. Furthermore, in November 2021, India, the United States, the United Arab Emirates, and Israel formed a new economic forum to concentrate on regional infrastructure development projects and strengthen bilateral cooperation.
The high cost of these concrete forms may hamper the market from growing. Insulated concrete forms can cost between $3 and $5 per square foot more than traditional wood framing units. However, because they save more energy over their entire lifespan, the initial cost will eventually be recouped. Furthermore, the surging demand for disaster resistance buildings is expected to generate numerous opportunities for the ICF industry in the coming years. The combination of concrete and steel in an insulated concrete form building provides the three most important characteristics for earthquake resistance: strength, stiffness, and ductility. Furthermore, in an earthquake, ICF buildings can be one of the safest and most reliable types of structures. As a result, homes constructed with reinforced concrete walls have a track record of sustaining earthquakes intact and structurally sound.
Insulated Concrete Form Market Segmentation
The global insulated concrete form market is segmented based on type, material, application, and geography.
Insulated Concrete Form Market By Type
According to our insulated concrete form industry analysis, all three methods are code-compliant and have been used successfully installed in numerous projects. Flat systems are similar to traditional poured walls in that the concrete is the same thickness throughout the wall. Grid systems, on the other hand, have a waffle pattern in which the concrete is thicker in some places. The concrete horizontal and vertical elements of the post and lintel systems are entirely encapsulated in foam insulation. Regardless of their differences, all major ICF systems are engineered, code-accepted, and field-tested.
Insulated Concrete Form Market By Material
Out of these, the polystyrene foam segment gathered a sizeable insulated concrete form market share in 2021 due to its lightweight, superior thermal insulation values, and low cost. In addition, increasing consumer preferences such as structural safety, comfort, energy efficiency, durability, and low maintenance costs are also supporting material growth. Furthermore, because of their insulating and cushioning properties, they are used in the production of a wide range of consumer products as well as foams used in building walls and roofs. On the other hand, the polyurethane foam segment also achieved a considerable market share throughout the forecast timeframe from 2022 to 2030.
Insulated Concrete Form Market By Application
Based on our analysis, the residential segment will have the largest market share in 2021. In emerging countries, the significant shift of construction companies and consumers toward eco-friendly, cost-effective, and energy-efficient building techniques has created growth prospects for the ICF market. Furthermore, changing demographic patterns and an increase in the number of nuclear families will support industry demand. However, the commercial application is anticipated to attain a noteworthy growth rate due to the growing number of hospitals, educational buildings, hotels & restaurants.
Insulated Concrete Form Market Regional Overview
The Middle East & Africa (MEA)
Increased Awareness Among Consumers In US And Canada Fuels North America Insulated Concrete Form Market Growth
According to the insulated concrete form regional outlook, the North America region generated maximum market share in 2021 and is expected to continue its trend during the forecast timeframe from 2022 to 2030. The region's market is being boosted by soaring product penetration in the United States and Canada as consumer potential advantages of insulated concrete forms grow. The residential sector in the United States has been growing as a result of groundbreaking construction and renovation activity in the country. On the other hand, the Asia-Pacific region is anticipated to witness the highest growth rate in the coming years due to the rising construction activities, increasing population leading to a surge in the number of residential construction, and gradual awareness among government and players operating in the construction sector.
Insulated Concrete Form Market Players
Some of the top insulated concrete form companies offered in the professional report include Airlite Plastics Company, Amvic Inc., Beco Products Ltd., BASF SE, Durisol UK, BuildBlock Building Systems, LLC., Logix Insulated Concrete Forms Ltd., Fox Blocks, Nudura Corporation, Quad-Lock Building Systems, Ltd., and Standard ICF Corporation.
The global insulated concrete form market size in 2021 was accounted to be USD 1,138 Million.
The projected CAGR insulated concrete form market during the analysis period of 2022 to 2030 is 5.9%.
The prominent players of the global insulated concrete form market involve Airlite Plastics Company, Amvic Inc., Beco Products Ltd., BASF SE, BuildBlock Building Systems, LLC., Durisol UK, Fox Blocks, Logix Insulated Concrete Forms Ltd., Nudura Corporation, Quad-Lock Building Systems, Ltd., and Standard ICF Corporation.
North America held the dominating insulated concrete form during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for insulated concrete form during the analysis period of 2022 to 2030.
Growth in construction industry, increasing need for energy-efficient green buildings, and rapid urbanization across the world drives the growth of global insulated concrete form market.
Based on material, polystyrene foam segment held the maximum share insulated concrete form market in 2021.