Insulated Concrete Form Market Report

Market Insights

The insulated concrete form (ICF) market is likely to grow from USD 903.37 million in 2021 to USD 1270.49 million by 2028 at a healthy CAGR of 4.92% over the forecast period of 2022-2028.

What is Insulated concrete form?

Insulated concrete form (ICF) is a type of reinforced concrete formwork that is typically made with rigid thermal insulation that serves as a permanent interior and external substrate for walls, floors, and roofs. The forms are made up of interlocking modular parts that are dry-stacked (without mortar) and filled with concrete. They provide strong walls, disaster resistance and safety, sound blocking ability, among other advantages, to building owners. Provision of easy and speedy construction is among the key advantages provided by ICF to contractors and builders.

Market Drivers

Growing acceptance of concrete forms, mainly in temperate regions, coupled with various properties associated with the product which include high strength, durability, and light weight and further improvement in the product by the key players, are the key factors driving the growth of the market over the forecast period. Advantages such as ease of installation and moulding to form the desired building structure would also contribute to the growing demand for insulated concrete forms for use in the residential and commercial application segments. Increasing demand for disaster-resistant building construction is also likely to have a positive impact on the market. 

CoVID-19 Impact Analysis

The COVID-19 pandemic had a negative impact on the market for insulated concrete forms, as construction projects in both of the residential and non-residential sectors were halted during this period. Furthermore, insulated concrete form manufacturers faced a number of challenges, including supply chain disruptions, production shutdowns, labor shortages, and cash flow constraints.

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Segment Analysis

By Material Type

Based on the material type, the insulated concrete form (ICF) market is segmented as polystyrene foam, polyurethane foam, cement-bonded wood fiber, and cement-bonded polystyrene beads. Polystyrene foam is expected to remain the most preferred material in the market for producing ICF during the forecast period owing to its high thermal insulation values, light weight, and low cost. Low density, enhanced mechanical properties, dimensional stability, and thermal insulation have supported the wide usage of lightweight expanded polystyrene foams. Shock and chemical resistance, as well as the ease of recyclability, of expanded polystyrene is contributing to the growing demand for insulated concrete forms in construction applications.

By Application Type

Based on the application type, the market is segmented as residential, institutional, and commercial. Residential application is expected to remain the biggest demand generator for ICF in the market during the forecast period. Growing number of building codes requiring energy efficiency has resulted in an increase in the number of ICF residential constructions. Increasing electricity bills in developed economies due to increased use of air conditioner systems and heaters have created a demand for wall structures with a thermal barrier. As a result, insulated concrete forms are expected to be in high demand during the forecast period.

By Region

In terms of regions, North America is expected to remain the largest market for insulated concrete forms during the forecast period. Consumer awareness of the benefits of insulated concrete forms has resulted in high product penetration in the US and Canadian markets, resulting in high demand for the product. The residential sector in the US is expanding on account of significant new construction and renovation activity in the country.

Asia-Pacific, led  by China and Japan, is likely to create significant opportunities for the market in the coming five years, driven by growing penetration of ICF blocks in the commercial construction segment and rising trend for modern and green construction in key countries of the region. 

Segmentation

The insulated concrete form (ICF) market is segmented into the following categories. 

By Material Type

• Polystyrene Foam
• Polyurethane Foam
• Cement-bonded Wood Fiber
• Cement-bonded Polystyrene Beads

By Application Type

• Residential
• Commercial
• Institutional

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Key Players

The following are the key players in the insulated concrete form (ICF) market.

• RPM International Inc.
• Airlite Plastics Company & Fox Blocks
• Amvic Inc.
• Logix Insulated Concrete Forms Ltd
• BuildBlock Building Systems LLC
• BASF SE
• Beco Products Ltd
• Durisol UK
• LiteForm
• Mikey Block Co.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s insulated concrete form (ICF) market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com