Insulated Concrete Form Market Analysis and Forecast 2031

The Insulated Concrete Form Market size is projected to reach US$ 1,609.95 million by 2031 from US$ 969.17 million in 2023. The market is expected to register a CAGR of 6.0% in 2023–2031. The rising government initiatives for green buildings is likely to remain key Insulated Concrete Form Market trends.

Insulated Concrete Form Market Analysis

Concrete is the widely used construction material in the world and is increasingly used to achieve more sustainable buildings, some of which are constructed using insulating concrete forms. Insulated concrete forms are stay-in-place concrete forms used to develop building parts such as walls, columns, pilasters, floors, and roofs. The construction industry in various countries across the globe is rapidly growing. Rise in government investments and increase in demand for residential constructions are propelling the growth of the construction industry. Further, European countries are creating and strengthening their infrastructure by enacting reforms and legislation, which drives the growth of the real estate and infrastructure industries. According to the European Construction Industry Federation, the volume of permits for new buildings (excluding civil engineering) in Germany was US$ 130 billion in 2021, 8% more than 2021. In North America, the construction industry is one of the significant contributors to the region's economy. Thus, the growing construction activities in several regions across the globe creates an enormous demand for insulated concrete form.

Insulated Concrete Form Market Overview

Insulated concrete form is cast-in-place concrete wall that is sandwiched between layers of insulation material. Insulating concrete formwork is a simple construction system using purpose made insulating panels or blocks as the formwork for in-situ concrete. This construction method is known for its high strength and energy efficiency. Some common applications of insulated concrete form include residential and commercial low-rise buildings. Walls are made from interconnected forms, which stay in place as permanent structures.

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Insulated Concrete Form Market: Strategic Insights

Insulated Concrete Form Market

• Market Size 2023
  US$ 969.17 Million
• Market Size 2031
  US$ 1,609.95 Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Material

• Polystyrene Foam
• Polyurethane Foam
• Cement-Bonded Wood Fiber

Application

• Residential
• Commercial

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Insulated Concrete Form Market Drivers and Opportunities

Government Support for the Development of Residential Construction Sector

Insulated concrete form play a vital role in residential construction projects. Various government bodies across different countries are supporting for the development of the residential construction sector. For instance, during the 14th Five-Year Plan (2021-2031) period, China has planned to add 6.5 million government-subsidized rental homes in 40 key cities to help an estimated 13 million people in need of affordable housing. To offer more comfort to the residents, near about 219,000 old residential communities built before the end of 2000 in urban areas will be renovated by 2031. China also announced a plan to mend rickety rural homes or upgrade those in earthquake-prone rural areas, while the housing provident fund is expected to cover more people in the workforce.

Development and Adoption of Advanced Building Insulation

Advanced insulation consists of materials that play critical role in enhancing energy efficiency in buildings, hence reducing energy consumption and greenhouse gas emissions. With the growing awareness of climate change and the need for sustainable development, there is an increasing demand for innovative insulation solutions that can effectively address thermal performance, durability, and cost-effectiveness. Therefore, the development and adoption of advanced building insulation is predicted to offer lucrative opportunities for the insulated concrete form market growth.

Insulated Concrete Form Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Insulated Concrete Form Market analysis are product, mode of application, and crop type.

• Based on material, the Insulated Concrete Form Market is divided into polystyrene foam, polyurethane foam, cement-bonded wood fiber, and others. The polyurethane foam segment held a larger market share in 2023.
• By application, the market is segmented into residential, commercial, and others. The residential segment held the largest share of the market in 2023.

Insulated Concrete Form Market Share Analysis by Geography

The geographic scope of the Insulated Concrete Form Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

The insulated concrete form market in Asia Pacific has witnessed major growth in recent years, owing to the well-established construction sector and increased emphasis on sustainable practices. Countries in the region are witnessing a growth in urbanization, an increase in residential sector, which offer ample opportunities for key market players in the insulated concrete form market. China is one of the largest markets for insulated concrete form, driven by the country's large construction set-up. These are some of the factors boosting the demand for Insulated Concrete Form in the Asia Pacific. Also, Asia Pacific is anticipated to grow with the highest CAGR in the coming years.

Insulated Concrete Form Market Market Report Scope

Insulated Concrete Form Market News and Recent Developments

The Insulated Concrete Form Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

• Foam Holdings, a Wynnchurch Capital, L.P. (“Wynnchurch”) portfolio company, announced the acquisitions of Amvic, Inc. (“Amvic”) and Concrete Block Insulating Systems, Inc. (“CBIS”). (Source: WYNNCHURCH CAPITAL, Newsletter, 2022)
• Introducing Amrad Rigid Insulation Panel for Under Slab Depressurization System Amvic is known for manufacturing industry-leading Insulated Concrete Forms (ICF) and expanded polystyrene (EPS) insulation building materials. (Source: Amvic Inc., Newsletter, 2022)

Insulated Concrete Form Market Report Coverage and Deliverables

The “Insulated Concrete Form Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles