Growth opportunities in the insulated concrete form market look promising over the next six years. This is mainly due to the increasing demand for green and sustainable construction to reduce the carbon footprint in the environment and various advantages offered by the insulated concrete framework like energy efficiency.
Insulated Concrete Form Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The prominent driver stimulating the growth of the global insulated concrete form market includes the augmenting demand for sustainable and green construction to decrease the carbon footprint in the environment and disaster resiliency. Also, various investors, property owners, and investors throughout the world prefer insulated concrete framework owing to the advantages like reduction in environmental impact, promotion of easy and faster building, and the energy-efficiency to save massive energy. The leading players in the market are largely emphasizing product development with pre-built shapes, as they help decrease the overall time. The surging incidences of natural calamities, including hurricanes, floods, volcano eruptions, tsunamis, tornadoes, earthquakes, etc., will further raise the construction of disaster-resistant houses. The growth in the construction of disaster-resistant houses, especially in polar countries and disaster-prone areas, will strengthen ICF demand in roof and wall applications. However, the unstable prices of raw materials and the huge capital investments will curb the insulated concrete form market size.
Application Segment Drivers
Based on the application, the residential sector is projected to lead the market over the forecast period. This is because of the expanding electricity bills due to the rising usage of heaters and air conditioners in the developed nations, which has created the requirement for wall structures with a thermal barrier. Thereby, insulated concrete forms are predicted to witness significant demand. The escalation of residential construction across the globe and fuelling investments by public-private partnerships are likely to stimulate insulated concrete form market growth.
Regional Drivers
Based on the regional coverage, North America is predicted to lead the market during the forecast period. The accelerating penetration of products in the Canada and U.S. markets due to the expanding consumer awareness about the benefits of insulated concrete forms has boosted the market demand. Moreover, the growth experienced by the residential sector of the U.S. due to the growing construction and renovation activities in the country. The extensive material used for the construction of houses in the U.S is wood. However, wooden houses are subjected to fungal attacks and degrade because of moisture. Thus, the surging demand for innovative substitutes of raw materials in the construction sector is overcoming these drawbacks, thereby propelling the market demand.
Insulated Concrete Form Market’s leading Manufacturers:
- LiteForm
- Standard ICF Corporation
- Nudura Corporation
- Beco Products Ltd
- Polycrete International
- BuildBlock Building Systems, LLC
- Durisol UK
- BASF SE
Insulated Concrete Form Market Segmentation:
Segmentation by Material:
- Polystyrene Foam
- Polyurethane Foam
- Cement Bonded Wood Fiber
- Cement-Bonded Polystyrene Beads
- Others
Segmentation by Application:
- Commercial
- Industrial
- Residential
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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