The insulated concrete form market size is segmented on the basis of material type, application, and region. Furthermore, rapid urbanization across the developing economies is expected to provide growth opportunities for the insulated concrete form market during the forecast period. ![]() However, high costs of insulated concrete form are expected to hamper the growth of the insulated concrete form market during the forecast period. This factor is anticipated to increase the demand for insulated concrete form during the forecast period. This serves both the immediate owner by lowering energy costs and reduces greenhouse gasses. Insulated concrete form is a crucial part of green building because it is a key to reduction of the energy usage of a structure. The concept of green building concentrates mainly on increasing the energy efficiency of the building and minimizing the wastage associated with the use of energy, water, and materials. Green building refers to the incorporation of environment friendly and resource efficient processes at each stage of construction. ![]() In addition, increased impact of building construction on environment and health fuels the need for green buildings. Moreover, surge in working population in these countries is expected to boost the demand for non-residential infrastructure that includes offices and tech-parks, which in turn is projected to drive the global insulated concrete form market. Due to globalization a shift in the industry trends has been observed owing to rapid economic growth in India and China. Rise in demand from non-residential construction sector is expected to drive the growth of the extruded polystyrene insulation material market. ICF further imparts the properties such as sound attenuation, strength, airtightness, and insulation to the wall. Contractors and builders prefer ICF, as it provides advantages such as fast & easy construction, and ease of installation & shipping due to lightweight. Moreover, it offers safety against insects, rot, mold, and mildew. Owners of buildings prefer ICF, as it provides benefits such as high energy-efficiency, cost savings, strong walls, sound blocking ability, and disaster resistance. ![]() ICF finds its extensive application in low-rise buildings. Insulated concrete forms are used to cast concrete walls, which are sandwiched between two layers of insulation material. These modular units lock together like Lego bricks, which creates formwork for the floors or structural walls of a building. ![]() They are interlocking modular units, which are filled with concrete and are dry-stacked without using mortar. It is a system of form work used for reinforced concrete (RCC), which is made with rigid thermal insulation, and is placed as a substrate for roofs, walls, and floors. Insulated concrete form (ICF) is defined as a hollow block or panel, which is made up of insulating foam or polystyrene that can be stacked to complete the form of a building’s walls. Owing to this the demand for insulated concrete form is expected to decline during the forecast period. The global insulated concrete form market was valued at $974.8 million in 2020, and is projected to reach $1,657.5 million by 2030, growing at a CAGR of 5.5% from 2021 to 2030.ĬOVID-19 pandemic outbreak across the globe has halted the construction activities across the globe amid government imposed lock down measures. Insulated Concrete Form (ICF) Market Outlook - 2021-2030
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