Global Insulated Concrete Form Market By Type, By Application , By Region And Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends And Forecast 2019-2028

Insulated Concrete Form Market Overview 

The global market for Insulated Concrete Form Market size (ICFs) was valued at US$ 854.8 million in 2021. This market is expected to grow at a CAGR, of 4.3% between 2023-2032. Their superior thermal insulation properties will see insulated concrete forms becoming more popular in temperate regions areas, including North America and Europe. An insulated concrete form market is a hollow panel or block made of insulating foam and polystyrene. It can be stackable to create the concrete walls of the finished building’s structure. This is formwork for reinforced concrete (RCC). It is made of rigid thermal insulation and used as a substrate for walls, roofs, and floors.           

Global Insulated Concrete Forms Market Analysis

Product Analysis

Insulated concrete forms made with polystyrene-foam materials held the largest market share in 2021. They are cost-effective, lightweight, and have superior thermal insulation. Due to their lightweight, low density, improved mechanical properties, and thermal insulation, expanded polystyrene is widely used. Polystyrene foam-based ICFs are expected to see a 4.5% CAGR from 2023-2032. Expanded polystyrene’s chemical production and shock resistance, as well as its easy recyclability, have all contributed to the increase in demand for insulated concrete forms.

The second largest market share was held by polyurethane-based concrete forms. Products will be in high demand due to the growing demand for flexible and energy-efficient insulation for residential and commercial buildings. Additionally, the increasing demand for rigid walls is expected to drive demand for ICF products that are polyurethane-based. Because they have a high thermal performance, Cement-bonded wood fibers are popular in residential and commercial constructions. They offer an R-value of 28 or more. ICF market industry growth is expected to be driven by increasing demand for energy-efficient and high-quality insulation material for modern commercial buildings. During the forecast period, the residential segment is projected to be the fastest growing end-use industry segment of the insulated concrete form market report.

Application Analysis

In 2021, residential construction was a lucrative segment. Growing demand for thermal barriers in flat wall system structures has resulted from rising electricity bills due to the increased use of heaters and air conditioner systems in developed economies. In this context, insulated concrete forms will be in high demand for the foreseeable future. Concrete Form Market forecast from 2023 to 2032, the non-residential construction market is expected to expand at a 4.1% annual growth rate. The construction industry is expected to grow due to the rising number of hospitals, restaurants, and hotels as well as educational buildings. The market is likely to see a rise in product penetration from the construction sector.

Globally, there is positive growth in residential construction and rising investments by public/private partnerships. This will likely increase the market’s growth over the forecast period. Growth in residential constructions and urbanization are key factors that have contributed to their growth, which will support the market for insulated concrete forms.

ICF houses can be constructed quickly and easily because these products are lightweight. Because they are lightweight and portable, ICF houses don’t require much help. They can also be constructed by end-users. ICF will see a positive change in the market if manufacturers make more effort to help their consumers set up these types of systems.

Key Market Segments

By Product

• Cement-Bonded Wood Fiber

• Polyurethane Foam

• Polystyrene Foam

• Other Products

By Application

• Non-residential

• Residential

Market Dynamics

The market is expected to grow due to the high strength, lightweight, durability, and other properties of insulated concrete form. In addition, the market growth is driven by benefits like easy installation and molding of the products that can be used to create the desired building structure. Market growth is expected to be driven by increasing demand for residential construction. It has been proven safe to use in extreme wind loads, such as hurricanes or tornadoes. The projected increase in tropical cyclones is expected to push consumers to use insulated concrete forms during this period.

On account of rising natural disasters like floods and earthquakes, the demand for disaster-resistant building construction is expected to increase. This is expected to have positive effects on the growth in the market for insulated concrete form companies. ICF also offers resistance against decay, corrosion, and pest attacks, which is unlike wooden construction. ICF-constructed buildings provide benefits for the user in terms of monthly cost savings and lower insurance premiums. The insulation used in ICF constructions is known for its excellent quietness and acoustical characteristics, which could drive its use in commercial complexes, hospitals, or nursing homes.

In order to speed up construction, the key players in this market for insulated concrete forms have focused their efforts on developing products with pre-built shapes. The popularity of ICF products will rise over the forecast period due to the development of production technologies that increase durability and strength.

Regional Analysis

North America dominated this market in 2021 with a revenue share of 39%. The key trend is expected to continue during the forecast period. The high penetration of insulated concrete forms in the U.S. markets and Canada have contributed to their high demand. Due to the significant increase in new construction and renovations in the United States, the residential sector is experiencing economic growth. The main material used in building houses in the U.S. is wood. The downside is that wooden houses can be prone to fungal infections and degrade due to moisture. These drawbacks are being overcome by a growing demand for new innovative raw materials. This will have a positive effect on the market for insulated concrete forms.

The industry is expected to grow in Europe due to the rapid acceptance of ICF products as well as the increasing demand for green solutions. The Green Building Solutions Program, which is run by the European Commission to increase the energy efficiency in residential and non-residential buildings in Europe, will likely support the Concrete form market growth. Asia Pacific’s market is expected to grow at 5.4% annually between 2023-2032, due to the increasing use of ICF blocks for commercial construction. The majority of the product’s consumption was in Japan and China, which are both influenced by rising industry trends in modern and environmentally-friendly constructions. Low-rise buildings find their extensive application in insulated concrete form buildings.

Key Regions and Countries covered in thе rероrt:

• North America

  • US

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Russia

  • Spain

  • Rest of Europe

• APAC

  • China

  • Japan

  • South Korea

  • India

  • Rest of Asia-Pacific

• South America

  • Brazil

  • Argentina

  • Rest of South America

• MEA

  • GCC

  • South Africa

  • Israel

  • Rest of MEA

Market Share & Key Players Analysis:

Global insulated concrete form market trends are characterized by low competition due to the presence of prominent manufacturers and limited penetration around the world. Innovators in the ICF market have patented interlocking blocks to make walls and foundations rigid. This makes it difficult for competitors to enter the market. Industry players have a lot to gain from the industry. End-users can get installation instructions and assistance from product manufacturers. To gain a competitive advantage, market players must focus on making product improvements to improve their thermal insulation strength and value. In order to capitalize on the rising consumer demand, particularly in cold regions, there are likely to be new players in this industry.

Маrkеt Кеу Рlауеrѕ:

• BASF SE

• Airlite Plastics Company

• Beco Products Ltd.

• Amvic Inc.

• BuildBlock Building Systems LLC.

• Durisol UK

• Quad-Lock Building Systems Ltd.

• Nudura Corporation

• Other Key Players