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Industry Insights, Market Size, CAGR, High-Level Analysis: Insulated Concrete Form MarketThe global insulated concrete form (ICF) market size was estimated at USD 832.3 million in 2018 and is anticipated to progress at a CAGR of 5.2% from 2019 to 2025. Rising acceptance of insulated concrete forms in temperate regions including Europe and North America on account of their superior thermal insulation properties is expected to drive their demand. High strength, durability, and lightweight properties associated with insulated concrete forms are further anticipated to trigger market growth. Moreover, benefits such as easy installation and molding offered by the products to form the desired building structure are the factors contributing to the increasing demand for insulated concrete forms for use in residential and commercial application segments. Increasing demand for the concrete forms from residential construction segment is anticipated to drive the market growth in the U.S. The product is proven to be safe for use in cases of severe wind loads such as tornadoes and hurricanes. Increasing number of tropical cyclones in the country is likely to compel consumers to opt for insulated concrete forms over the projected period. The demand for disaster-resistant building construction is expected to grow on account of increasing natural calamities such as earthquakes and floods. This is expected to have a positive impact on the growth of insulated concrete form market. Furthermore, ICF offers resistance to decay, corrosion, and pest attacks, unlike wooden construction. ICF constructions offer benefits to the users in terms of monthly cost savings by cutting down the utility bills and insurance premiums. Furthermore, insulation used in this type of construction offers excellent quietness or acoustical properties, which is likely to propel its demand in commercial complexes, hospitals, and nursing homes. Key players in the market for insulated concrete forms are focusing on product development with pre-built shapes to reduce the overall construction time. Furthermore, development in production technologies to enhance the durability and strength of ICF products is expected to raise the popularity of these products over the projected period.
Product Insights of Insulated Concrete Form MarketInsulated concrete forms made from polystyrene foam materials accounted for the largest market share in 2018 on account of their superior thermal insulation values, light weight, and low cost. Lightweight expanded polystyrene foams are widely used owing to their low density, enhanced mechanical properties, dimensional stability, and thermal insulation. The demand for polystyrene foam-based ICFs is expected to grow at a CAGR of 5.4% over the projected period. Characteristics including shock & chemical resistance and easy recyclability of expanded polystyrene have contributed to the increased demand for insulated concrete forms for use in construction applications. Polyurethane-based insulated concrete forms held the second-largest market share in 2018. Growing demand for energy-efficient and versatile insulation in residential and commercial buildings is likely to propel product demand. Furthermore, rising demand for rigid walls and foundations is likely to support the demand for polyurethane-based ICF products. Cement-bonded wood fibers are widely accepted in the construction of residential and commercial structures as they offer high thermal performance with R-value of 28 and above. Increasing demand for high-value insulation material for modern commercial constructions is anticipated to drive ICF market growth over the forecast period.
Application Insights of Insulated Concrete Form MarketResidential construction accounted for the largest revenue share of 64.3% in 2018. Increasing electricity bills owing to the growing use of air conditioner systems and heaters in the developed economies has created a need for wall structures with thermal barrier. As a result, insulated concrete forms are expected to witness significant demand over the projected period. Non-residential construction segment is anticipated to grow at a CAGR of 4.7% from 2019 to 2025. Increasing number of hospitals, restaurants & hotels, and educational buildings on account of the growing population is likely to propel the growth of the construction industry. Rising product penetration in the construction sector is expected to have a positive impact on market growth. Favorable growth of residential construction across the globe and increasing investments by public-private partnerships are expected to augment the growth of the market over the forecast period. Lifestyle improvements and growing urbanization are the factors contributing to the growth of residential constructions, thereby supporting the market growth of insulated concrete form. ICF houses are easy to construct as these products are lightweight and handy. As a result, they do not require much assistance and can also be built by the end users. Increasing efforts taken by the manufacturers to assist their consumers with guidelines to set up these systems are expected to have a positive impact on the ICF market.
Regional Insights of Insulated Concrete Form MarketNorth America dominated the market in 2018 and with a revenue share of 36.3% and the trend is expected to continue over the forecast period. High product penetration in the U.S. and Canada markets owing to consumer awareness regarding the benefits of insulated concrete forms has resulted in their high demand. Residential sector in the U.S. is experiencing growth owing to significant new construction and renovation activities in the country. Wood has been the major material used for the construction of houses in the U.S. However, wooden houses are prone to fungal attacks and degrade because of moisture. Growing demand for alternative innovative raw materials in the construction sector to overcome these drawbacks is expected to have a positive impact on the market for insulated concrete forms. Early acceptance of ICF products and the rising need for green building solutions are expected to propel industry growth in Europe. Moreover, the Green Building Program by The European Commission for improvement in the energy efficiency of residential as well as non-residential buildings in Europe is likely to support growth of insulated concrete forms. The market in Asia Pacific is expected to register the fastest growth rate of 6.5% from 2019 to 2025 on account of increasing penetration of ICF blocks in commercial construction segment. China and Japan accounted for majority shares for the consumption of the product owing to rising trends for modern and green constructions.
Market Share Insights of Insulated Concrete Form MarketThe global insulated concrete form market is characterized by moderate competition on account of the presence of prominent manufacturers and limited penetration across the globe. Prominent ICF market players have patented the innovation of interlocking blocks for the rigid construction of walls and foundations, making it difficult for other players to penetrate the market. Quality enhancement, new product developments, and continuous promotional activities are the key success factors for players in the industry. Product manufacturers are focusing on providing installation guidelines along with installation services to end users. Advancements in the product to enhance its thermal insulation value and strength is a key focus area of market players to gain a competitive edge. Airlite Plastics Company; Amvic Inc.; Nudura Corporation; BuildBlock Building Systems, LLC.; and Logix Insulated Concrete Forms Ltd. are the key players in the market. New players are likely to invest in the industry to benefit from rising consumer demand, especially in cold regions.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Insulated Concrete Form Market Research ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global insulated concrete form market report on the basis of product, application, and region:
Product Outlook (Revenue, USD Million, 2019 - 2030)
- Polystyrene Foam
- Polyurethane Foam
- Cement-Bonded Wood Fiber
Application Outlook (Revenue, USD Million, 2019 - 2030)
Table of Contents Chapter 1 Methodology & Report Scope 1.1 Research Methodology 1.2 Research Scope and Assumptions 1.3 Information Procurement 1.3.1 Purchased Database 1.3.2 GVR’s Internal Database 1.3.3 Secondary Sources 1.3.4 Third Party Perspective 1.3.5 Primary Research 1.4 Information Analysis 1.4.1 Data Analysis Models 1.5 Market Formulation and Data Visualization 1.6 List of | read more...