Insulated Concrete Form (ICF) Market Size, Major Strategies, Key Companies, Revenue Share Analysis, 2021–2027
The global Insulated
Concrete Form (ICF) market is forecast to reach USD 1.40
Billion by 2027, according to a new report by Reports and Data. Growing
urbanization in developing countries will offer positive prospects for the
building sector, which will further improve the industrial landscape. ICF
systems offer better energy efficiency and substantial structural strength,
thereby contributing to further implementation in the residential and
non-residential sectors.
ICF's continued growth in the
construction and infrastructure sector due to technological superiority over
traditional wood-frame walls and roofing systems will promulgate the size of
the insulated concrete form market. Growing concerns over reduced carbon
dioxide levels and rising electricity costs will further increase demand for
the product, thereby providing lucrative opportunities for industry
participants.
The multiplication of natural
disasters, including tsunamis, hurricanes, floods, earthquakes, tornadoes,
volcanic eruptions, and others, will also lead to an increase in the
construction of disaster-resistant houses. The substantial increment in the
construction of disaster-resistant buildings in the disaster-prone areas will
lead to significant demand for ICF in walls and roofs.
Key features such as energy efficiency
and proper mitigation provided by the ICF resonate with owners at all income
levels, directly affecting its popularity as a building system, in tropical and
subtropical climatic environments. The migration of the rural population to
urban areas, as well as the conversion of large cities into cities, will
increase the demand for new construction projects in developing economies.
Besides, a positive development in the standard of living of consumers will
stimulate significant demand for energy-efficient, highly durable, and
comfort-enhancing products, thereby increasing the product portfolio.
Favorable government initiatives to
raise awareness and provide subsidies for the use of green materials in the
construction sector will lead to increased demand for the product. Significant
regulatory developments improving the mandatory thickness requirements in the
building and the adoption of energy efficiency standards have further fueled
the demand for insulated concrete formwork materials.
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Key participants include BASF, IntegraSpec, Quad-Lock Building
Systems Ltd., Airlite Plastics Co. (Fox Blocks), Superform Products Ltd.,
Future Foam, AMVIC, LOGIX Insulated Concrete Forms, ConForm Global, and RPM
International Inc., among others.
Further key findings from the report suggest
- Insulated concrete forms made from
polystyrene accounted for the largest market share in 2019 due to their
higher thermal insulation values, their lightness, and their low cost.
Lightweight expanded polystyrene foams are widely used due to their low
density, improved mechanical properties, dimensional stability, and
thermal insulation.
- The non-residential segment is expected
to grow at a CAGR of 5.3% from 2019 to 2027. The increase in the number of
hospitals, restaurants, and hotels, and educational buildings due to
population growth is expected to propel the growth of the construction
industry. The increasing penetration of products in the construction
sector should have a positive impact on market growth.
- The early acceptance of ICF products and
the growing need for green building solutions should propel the growth of
the industry in Europe. Also, the European Commission's green building
program to improve the energy efficiency of residential and
non-residential buildings in Europe should support the growth of insulated
concrete formwork.
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For the purpose of this report,
Reports and Data have segmented into the global Insulated Concrete Form market
on the basis of Material Type, Concrete Shape, Application, and Region:
Material Type
Outlook (Revenue, USD Billion; 2017-2027)
- Polystyrene
- Cement-Bonded Wood Fiber
- Polyurethane
Concrete Shape
Outlook (Revenue, USD Billion; 2017-2027)
- Flat Wall System
- Waffle Grid System
- Post & Lintel System
Application
Outlook (Revenue, USD Billion; 2017-2027)
- Residential
- Non-Residential
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Furthermore, the research study gives
additional insights into the companies’ regional presence through extensive
regional analysis. The regional analysis covers the key geographical regions
such as North America, Latin America,
Europe, Asia-Pacific, and the Middle East & Africa. The regional
analysis segment covers details about the market share held by each region
along with the prospective growth opportunities and revenue generation. The
report also offers a projection of the growth rate for each region in the
entirety of the forecast timeline. It also offers a country-wise analysis to
impart a better understanding of the industry.
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