Top Impacting Factors
From scratch frame, insulated concrete form (ICF) systems are gaining popularity for providing improved energy efficiency and greater structural strength. This has a major contribution to the increased acceptance from the commercial, residential, infrastructural, and industrial sectors.
One of the major factors motivating the global Insulated Concrete Form Market revealed is the growing demand for hi-rise residential buildings at the world level. The soaring demand for energy-efficient buildings is also likely to boost the demand for ICF during the forecast period, especially in substantial COVID-19 breakthrough.
The rising demand for green sustainable construction to curtail carbon footprint, disaster resiliency, and heating cooling benefits in modern construction also stands high in propelling the insulated concrete form market growth. In fact, mounting urbanization in the developing countries also has the possibility to provide a positive outlook for the building sector, which will enhance the industry landscape in the forecast period.
Some more essential factors, such as uninterrupted growth and prosperity of the insulated concrete form in the construction infrastructural sector, are also somehow contributing to the market's growth. Owing to technological superiority compared to the conventional wooden framed walls and roof system has promulgated the insulated concrete form market size. Having said that, over the past few years, the growing concerns in concern with the reduction of carbon dioxide levels along with an increase in electricity costs will further increase the demand for insulated concrete form. All the factors are thus providing lucrative opportunities for the industry participants.
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Segmentation of Market
The analysis of the global insulated concrete form market is segmented for segments such as concrete shape, material type, and applications.
In terms of the concrete shape segment, the market has included a flat wall system, a screen grid system, a waffle grid system, and a post lintel system.
In terms of material type segment, the market has included polystyrene foam, polyurethane foam, cement-bonded wood fiber, cement-bonded polystyrene beads, and more.
In terms of the application segment, the market has included commercial, residential, infrastructural, and industrial sectors.
The insulated concrete form market leads in the North America region owing to the high demand from end-user industries, mainly in the United States. The demand for insulated concrete forms in the United States is driven by commercial and institutional sub-segments. However, the residential sub-segment held a leading position in the U.S. insulated concrete form market. With this, the growing residential construction industry in the United States is also likely to drive the demand for insulated concrete form in the region.
Asia Pacific ICF Insulated Concrete Form Industry witnessed significant growth at over 8% in terms of revenue in 2018. The increasing infrastructure expenditure in the developing economies of India, Indonesia, and Malaysia owing to the rising population urbanization will also proliferate the business growth in the future. Besides, essential enhancements in the government regulations at a propos the demand for energy efficiency, require reducing construction time, as well as safety will further stimulate the industry size in the region.
Top Grossing Market Players
The top players in the insulated concrete form markets are listed as Quad-Lock Building Systems Ltd., IntegraSpec ICF, Logix Insulated Concrete Forms Ltd., Nudura Corporation, Amvic Building System, Reward Wall Systems Inc., Plasti-Fab Expanded Polystyrene Product Solutions, BuildBlock Building Systems Inc., and Airlite Plastics Company.
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