Insulated Concrete Form Market size to exceed USD 970 million by 2024; according to a new research report by Global Market Insights, Inc.
Rising consumer preference for energy effective buildings accompanied by the need to reduce operating e will be a key global insulation concrete form market share trend. Policies such as energy saving program by U.S., Net Zero in Canada, and new building codes by EU will fuel insulated concrete forms industry growth.
Initially, the industry faced issues with product acceptance, due to low-awareness, lack of regulatory clarity and an unorganized sector, offering varying ICF grades. However, the situation has been significantly salvaged, as clear regulations and product guidelines have been put in place.
U.S. insulated concrete form market share dominates regional demand, with residential applications alone valued at over USD 100 million in 2015. Demand is primarily driven by the need to sustainable construction to save energy.
Increasing infrastructure expenditure in Asia Pacific and MEA, along with government regulations relating to demand for energy efficiency, safety and need to reduce construction time is anticipated to stimulate industry growth.
Close to 80% of ICFs are used in below-grade applications for residential applications, with revenue poised to approach USD 500 million by 2024. Industrial and infrastructure applications should see more than 7% growth. Key ICF market features include technology access, cost reduction, energy conservation and strong insulation performance.
Polystyrene foam was the leading product segment with more than 60% of total insulated concrete form market revenue in 2015. Fire & thermal resistance and durability are expected to drive the polystyrene foam demand.
Browse key industry insights spread across 170 pages with 85 market data tables & 29 figures & charts from the report, “Insulated Concrete Form Market Size By Application (Commercial, Industrial, Infrastructure, Residential), By Material (Polystyrene Foam, Polyurethane Foam, Cement-Bonded Wood Fiber, Cement Bonded Polystyrene Beads, Cellular Concrete), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, China, India, Japan, Australia, Malaysia, Indonesia, Thailand, Brazil, Argentina, Mexico, South Africa, UAE, Saudi Arabia, Qatar, Kuwait, Egypt), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents: