Market Size of Insulated Concrete Form (ICF) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Insulated Concrete Form Market Analysis
The insulated concrete form (ICF) market is expected to grow at a CAGR of more than 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Due to nationwide lockdowns causing supply chain disruptions, construction work and other activities were put on hold to curb the spreading of the virus, thereby negatively affecting the market. However, the market is projected to grow steadily, owing to increased building and construction activities during the forecast period.
- The factors driving the growth of the market studied are the demand for energy-efficient buildings, increased construction of high-rise buildings, increased preparedness toward disasters, and reduced construction time.
- Factors such as the high cost of ICF are expected to restrain the growth of the market studied.
- Increasing promotion and awareness of ICF among manufacturers and consumers and the growing role of EPS in the construction industry are likely to act as opportunities for the growth of the market during the forecast period.
- North America accounted for the highest market share in the ICF market globally, and the Asia-Pacific is likely to dominate the market during the forecast period.
Insulated Concrete Form Industry Segmentation
Insulated concrete forms are structures that are used for holding freshly made concrete to provide insulation to the structure they enclose.
The insulated concrete form market is segmented by Material Type (Polystyrene Foam, Polyurethane Foam, Cement-bonded Wood Fiber, Cement-bonded Polystyrene Beads), Application (Residential, Commercial, Institutional), and Geography (Asia-Pacific, North America, Europe, South America, Middle East and Africa). The report also covers the market sizes and forecasts for the insulated concrete form (ICF) market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done in terms of revenue in USD million.
| By Material Type | |
| Polystyrene Foam | |
| Polyurethane Foam | |
| Cement-bonded Wood Fiber | |
| Cement-bonded Polystyrene Beads |
| By Application | |
| Residential | |
| Commercial | |
| Institutional |
| By Geography | ||||||||
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Insulated Concrete Form (ICF) Market Size Summary
The insulated concrete form (ICF) market is poised for steady growth, driven by the increasing demand for energy-efficient buildings and the construction of high-rise structures. The market experienced setbacks due to the COVID-19 pandemic, which caused supply chain disruptions and halted construction activities. However, the resurgence in building and construction activities is expected to propel the market forward. Key factors contributing to market expansion include heightened disaster preparedness, reduced construction time, and the growing awareness and promotion of ICF among manufacturers and consumers. Despite the high cost of ICF posing a challenge, opportunities abound with the expanding role of expanded polystyrene (EPS) in the construction industry. North America currently holds the largest market share, while the Asia-Pacific region is anticipated to dominate in the coming years.
In the residential sector, the demand for ICF is bolstered by stringent building codes mandating energy efficiency, particularly in Canada and the United States. The availability of cost-effective ICF forms that offer comparable efficiency to alternatives is driving adoption, especially in high-end custom homes and multi-family units. The Indian government's push for housing construction and significant investments in the sector are set to enhance market growth, with similar trends observed in Germany and other regions. In the Asia-Pacific, major residential projects and green building initiatives are expected to further influence ICF consumption. The market is characterized by consolidation, with major players like RPM International Inc., Amvic Inc., and Logix Build Solutions Ltd. holding significant shares. Recent acquisitions and product launches, such as Amvic Inc.'s expanded polystyrene building block, are indicative of strategic moves to strengthen market positions.
Insulated Concrete Form (ICF) Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand from Hi-rise Energy-efficient Buildings
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1.1.2 Increasing Preparedness Toward Disasters
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1.1.3 Reduced Construction Time
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1.2 Restraints
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1.2.1 High Cost Association
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 By Material Type
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2.1.1 Polystyrene Foam
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2.1.2 Polyurethane Foam
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2.1.3 Cement-bonded Wood Fiber
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2.1.4 Cement-bonded Polystyrene Beads
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2.2 By Application
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2.2.1 Residential
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2.2.2 Commercial
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2.2.3 Institutional
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2.3 By Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 ASEAN Countries
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2.3.1.6 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 France
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2.3.3.3 United Kingdom
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2.3.3.4 Italy
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2.3.3.5 Rest of the Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East and Africa
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Insulated Concrete Form (ICF) Market Size FAQs
What is the current Insulated Concrete Form (ICF) Market size?
The Insulated Concrete Form (ICF) Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Insulated Concrete Form (ICF) Market?
RPM International Inc., Amvic Inc., Logix Insulated Concrete Forms Ltd, Fox Blocks and Build Block Building Systems are the major companies operating in the Insulated Concrete Form (ICF) Market.
