Report: insulated concrete forms market to grow 27.5%
The global insulated concrete forms (ICF) market is expected to show an exceptional compound annual growth rate of 27.5%, according to a new report from Report Linker.
North America currently dominates the market for insulated concrete forms followed by Europe and Asia Pacific. The developing regions of South America and Asia Pacific are expected to increase its market share in the future owing to the growing construction activity in the developing countries.
Insulated concrete form or insulating concrete form (ICF) is a system of formwork for reinforced concrete which is made with a rigid thermal insulation that stays in place as a permanent interior and exterior substrate for walls, floors, and roofs. The forms can be characterized into three main categories: Block, Panel and Plank, each having their own advantages.
ICF construction has been growing at 25-30% per year for quite some time. Building with ICFs is gaining momentum over other building methods because with comparable costs, ICFs offer unparalleled comfort, energy efficiency, and safety ratings. The emerging regions such as Asia, South America and Middle-East have been witnessing sizeable growth in construction activities have excellent prospects for insulated concrete forms.
This report provides a detailed study of the ICF market and segmentation is done by material type includes Polystyrene foam, Polyurethane foam, Cement-bonded wood fiber, Cement-bonded polystyrene beads and Cellular concrete; the second segmentation is done by application - Residential, Commercial, Institutional & Industrial building and others.
Companies profiled in the Insulated concrete form market report include the manufacturers, raw material suppliers and the end users - IntegraSpec, Airlite (Fox Blocks), Quad-Lock Building Systems Ltd., Nudura Corporation, Logix Insulated Concrete Forms Ltd., Superform Products Ltd., Amvic, BuildBlock Building Systems and Plasti-Fab among others.
Drivers of ICF Growth
The operating costs of a typical building over its lifetime easily exceed its construction cost - sometimes by a multiple. Thus building owners & operators need to minimize the total cost of the building instead of only the cost of construction. Insulated Concrete Forms are revolutionizing the construction industry because of the exceptional energy efficiency, comfort, safety ratings, and speed of construction at lower total cost. Insulated Concrete Form building envelopes can reduce the heating and cooling component by up to 70% compared to other materials used, making it the single biggest and most cost-effective cut in a building's total cost.
The report elucidates the situation of insulated concrete forms around the world and studies the markets of the insulated concrete forms type which include Polystyrene foam, Polyurethane foam, Cement-bonded wood fiber, Cement-bonded polystyrene beads and Cellular concrete.
Lastly, the report is divided by geography - North Americas, Europe, the Asia-Pacific (APAC), South America and Middle-East & Africa(MEA); where-in the market share of each region is analyzed and estimates are provided for the next 5 years. The various applications of insulated concrete forms have been discussed in detail in addition to a comprehensive overview of the market.
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Companies: Fox Blocks