According to the latest report by IMARC Group, titled “Global Insulated Concrete Form Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global insulated concrete form (ICF) market reached a value of US$ 878.2 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,204.10 Million by 2027, exhibiting a CAGR of 5.10% during 2022-2027.
Insulated concrete form (ICF) refers to a strong and energy-efficient system of formwork made up of insulating foam or hollow block components that are dry-stacked together. It is used for manufacturing reinforced concrete (RCC) and is placed as a substrate for roofs, walls, and floors. It also provides various benefits, such as energy efficiency, sound blocking ability, cost-effectiveness, and enhanced safety to disasters. As a result, ICF is widely utilized across the construction industry.
Insulated Concrete Form (ICF) Market Trends and Drivers:
The market is primarily driven by the expanding construction industry as ICF is extensively utilized in the construction of residential and non-residential infrastructures.
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In addition, various product innovations, such as the introduction of pre-built shapes of insulated concrete forms that provide strength, enhance durability and reduce the overall construction time, represent another major growth-inducing factor. Besides this, due to the growing prominence of green building concepts, ICF is widely used to increase the energy efficiency of the building and minimize overall wastage.
This, coupled with the escalating demand for durable and advanced building insulation, is creating a positive market outlook across the globe. Furthermore, rapid urbanization across the developing economies is expected to propel market growth in the coming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Insulated Concrete Form (ICF) Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Airlite Plastics Company & Fox Blocks, Amvic Inc., BASF SE, Beco Products Ltd, BuildBlock Building Systems LLC, Durisol UK, LiteForm Technologies, Logix Brands, Nudura Corporation (RPM International Inc.), Polycrete International?, Quad-Lock Building Systems and Sunbloc Ltd.
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The report has segmented the market on the basis of region, type, material and end use.
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Key highlights of the report:
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