North America to Sway Insulated Concrete Form Market
Market Analysis
The global insulated concrete form (ICF) market is touted to have a sizeable growth at 7% CAGR over the predicted years (2014-2022). Insulating concrete form is a construction system that uses purpose made insulating blocks or panels as formworks for in-situ concrete. After pouring the concrete, the panels will stay in place to serve as thermal insulation. These forms are insulated both on the outside and inside, offering wall insulation of a high level which is uncommon in case of any standard home construction. As the insulated concrete form blocks fit together seamlessly, it will have minimal air filtration, thus increasing the insulation value. Designed to offer highly energy efficient, quiet, more comfortable and stronger structures, it is easy to construct and above all its lifespan is longer in comparison to general construction methods. These systems perform perfectly with regards to airtightness, thermal performance, flood resilience, sound insulation, and fire resistance. As ICF systems offer higher structural strength and improved energy efficiency, it has largely contributed to the growing acceptance from industrial, infrastructural, commercial and residential sectors.
There are abundant factors that is propelling the growth of the insulated concrete form market. These factors as stated by the Market Research Future (MRFR) report include escalating need for green construction across commercial and residential sectors, ICF’s ability to offer ecological sensitivity, energy efficiency, fire protection, superior indoor air quality, sound absorption and material strength to buildings, increasing concerns about the decrease in carbon dioxide levels, and rise in electricity costs. The additional factors that are boosting the market growth include growing infrastructural and construction activities, burgeoning demand among consumers for buildings that are natural disaster resistant and improved thermal insulation performance. On the contrary, fluctuating prices of raw materials, major capital investment, low consumer awareness, and fluctuating oil prices that result in cost variations of polymers are factors that may act as market deterrents.
Market Segmentation
MRFR report provides an extensive segmental analysis of the insulated concrete form market on the basis of concrete shape, material and application.
Based on concrete shape, it is segmented into post and lintel system, flat wall system, screen grid system and waffle grid system.
Based on material, the insulated concrete form market is segmented into cement-bonded polystyrene beads, polystyrene foam, cement-bonded wood fiber, polyurethane foam and others. Of these, polystyrene foam will have the largest share in the market over the predicted years. It is widely used in various applications in non-residential and residential sectors owing to its alluring properties. These include resistance against adverse climatic conditions, low thermal conductivity, acoustic absorption, moisture resistance, durability and compressive strength.
Based on application, it is segmented into industrial, residential and commercial infrastructure. Of these, residential application will dominate the market over the predicted years. This is owing to rapid urbanization, surge in demand worldwide for new residential constructions and growing demand for durable and energy-efficient residential spaces.
Regional Analysis
By region, the insulated concrete form market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, North America will sway the market over the predicted years. This is owing to government proposals, rising need for thermal insulation in commercial and residential buildings and various government proposals that promote thermal insulation. The insulated concrete form market in the APAC region is predicted to grow at the fastest pace over the predicted years.
Key Players
Leading players profiled in the insulated concrete form market include Airlite Plastics Company, Durisol Building System Inc., Plasti-Fab Expanded Polystyrene Product Solutions, BuildBlock Building Systems Inc., Amvic Building System, Reward Wall Systems Inc, Logix Insulated Concrete Forms Ltd., Nudura Corporation, Quad-Lock Building Systems Ltd., and IntegraSpec ICF.
May 2019- On the occasion of the 12th annual Women Build Day of Habitat for Humanity, 50 female volunteers took the initiative of setting the foundation of two homes. Insulated concrete forms were used to cover the holes. These homes are on its way to become energy efficient for future families.