Insulated Concrete Form Market worth $1.49 billion by 2023 | Top Players are NUDURA Corporation (Canada), Quad-Lock Building Systems (Canada), AMVIC (Canada), Fox Blocks (US), BASF (Germany), LOGIX Insulated Concrete Forms

The report "Insulated Concrete Form Market by Type (Flat, Grid (Screen, and Waffle), and Post & Lintel Systems), Material (Expanded polystyrene Foam, Polyurethane Foam), End-Use Industry (Residential, and Non-residential), and Region - Global Forecast to 2023", The insulated concrete form market is estimated to be USD 1.11 billion in 2018 and is projected to reach USD 1.49 billion by 2023, at a CAGR of 5.95% from 2018 to 2023. The growth of the insulated concrete form market can be attributed to the increase in demand for new constructions due to rapid urbanization and industrialization, coupled with large-scale investments in the residential sector. The rising number of construction activities in emerging economies and the increasing inclination toward sustainable construction methods are increasing the reliance on modern construction techniques, thereby creating growth opportunities for the insulated concrete form market.

Browse 77 market data Tables and 30 Figures spread through 117 Pages and in-depth TOC on "Insulated Concrete Form Market - Global Forecast to 2023"

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Based on end-use industry, the residential segment of the insulated concrete form market is expected to gain maximum traction during the forecast period.
The residential end-use industry segment is estimated to lead the insulated concrete form market in 2018. The growth of the residential end-use industry segment can be attributed to rapid urbanization, primarily driven by the surge in demand for new residential constructions worldwide. In addition, the increasing demand for energy-efficient and durable residential spaces is also contributing to the growth of the residential end-use industry segment of the insulated concrete form market.

Based on material, the expanded polystyrene foam segment is estimated to account for the largest share of the insulated concrete form market in 2018.
Expanded polystyrene foam is used in the residential and non-residential sectors for a wide range of applications, such as roofs, floors, and walls. The market for expanded polystyrene foam is projected to grow at the highest CAGR during the forecast period, owing to its superior properties that include compressive strength, durability, moisture resistance, acoustic absorption, low thermal conductivity, and resistance to adverse climatic conditions.

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The North America region accounted for the largest share of the insulated concrete form market.
North America contributed a major share to the insulated concrete form market in 2017. This large share can be attributed to the increasing residential projects in the US, Canada, and Mexico. The demand for insulated concrete form from the construction sector due to its energy-efficiency, durability, and eco-friendly properties is another significant factor driving the growth of the insulated concrete form market in North America. Additionally, government investments in residential constructions provide potential for growth of the insulated concrete form market in the North American region.

Key players operating in the insulated concrete form market include NUDURA Corporation (Canada), Quad-Lock Building Systems (Canada), AMVIC (Canada), Fox Blocks (US), BASF (Germany), LOGIX Insulated Concrete Forms (UK), ConForm Global (US), KORE (Ireland), Polycrete International (Canada), LiteForm (US), Sunbloc (UK), Rastra (US), SuperForm Products (Denmark), Durisol (Australia), and Beco Products (UK).

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Growth Driver:

Increasing demand for energy-efficient green buildings

Insulated concrete form is one of the components used to create building structures that are safe, energy-efficient, and sustainable. Insulated concrete form structures are energy-efficient, extremely durable, sound & fire resistant, and environment-friendly. Sustainable materials such as Expanded Polystyrene Foam (EPS) and polyurethane are used in the construction of insulated concrete form buildings that enhance energy efficiency and improve insulation of the construction space, which makes them excellent raw materials for these buildings. Insulated concrete form types, such as flat wall systems, grid systems, and post & lintel systems have the ability to absorb radiation and are easy to recycle, which makes the construction energy-efficient. There is a rise in demand for green buildings, especially in the European and North American markets. Various building regulations in these regions make players operating in the construction industry use sustainable and energy-efficient materials in both, non-residential and residential buildings. The European Commission (EC) initiated the Green Building Program in 2005, which aimed to improve the energy efficiency of residential as well as non-residential buildings in Europe. The program aims to make owners of both residential and non-residential buildings aware of the cost-effective measures to increase their energy savings.

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