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Market Overview
The market for Insulated Concrete Form (ICF) is expected to grow at a CAGR of 14.08%. One of the major factors driving the market studied is the growing demand for hi-rise residential buildings. However, high cost assosciated with ICF is likely to restrain the market.
- Demand for energy-efficient buildings is also likely to boost the demand for ICF during the forecast period.
- Increasing promotion and awareness of ICF among both manufacturers and consumers is likely to act as an opportunity for the market growth in future.
- North America accounted for the highest market share in ICF market in 2018 and is likely to dominate the market during the forecast period.
Key Market Trends
Residential Application to Dominate the Market
- In 2018, residential application segment dominated the market.
- ICF offers a high level of energy efficiency when compared to traditional construction materials such as bricks, and wood.
- Increase in the number of building codes that demand energy efficiency has led to the rise in the number of ICF constructions in the residential sector.
- For instance, the new energy code in Canada demands continuous below-grade insulations in residential structures.
- According to distributors and installers in the two major markets of the United States and Canada, the vast majority of ICF home constructions are skewed toward high-end custom homes, and the demand is still being driven by homeowners, in terms of the number of projects.
- Multi-family homes attribute to the largest market growth in the residential sector. Furthermore, basement constructions still make up a significant portion of ICF residential construction works.
- Hence, with growing awareness and promotional campaigns held by various ICF organizations, the market for ICF in the residential sector is expected to grow over the forecast period.
North America to Dominate the Market
- The global ICF market is dominated by North America owing to the high demand from end-user industries in the United States.
- The demand for ICF in the United States is driven by commercial and institutional sub-segments. However, the residential sub-segment held a dominant position in the US ICF market in 2018.
- The growing residential construction industry in the United States is expected to drive the demand for ICF in the region.
- The municipal and state governments have largely adopted the ICF technology, to abide by the quicker construction timelines and long-term energy savings. Additionally, there has been a consistently growing demand for ICF from schools.
- Furthermore, rebuilding in Texas and Florida following the hurricanes is also expected to increase home building activities. The capability of ICF walls to withstand strong winds is expected to drive the ICF market in these cities, over the forecast period.
- Hence, North America is likely to dominate the ICF market during the forecast period.
Competitive Landscape
The market for Insulated Concrete Form (ICF) is consolidated among the top five players accounting for a large chunk of the market. The major players of the market iclude NUDURA, Airlite Plastics Company & Fox Blocks, Amvic Inc., and Logix Insulated Concrete Forms Ltd, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The market for Insulated Concrete Form (ICF) is expected to grow at a CAGR of 14.08%. One of the major factors driving the market studied is the growing demand for hi-rise residential buildings. However, high cost assosciated with ICF is likely to restrain the market.
- Demand for energy-efficient buildings is also likely to boost the demand for ICF during the forecast period.
- Increasing promotion and awareness of ICF among both manufacturers and consumers is likely to act as an opportunity for the market growth in future.
- North America accounted for the highest market share in ICF market in 2018 and is likely to dominate the market during the forecast period.
Key Market Trends
Residential Application to Dominate the Market
- In 2018, residential application segment dominated the market.
- ICF offers a high level of energy efficiency when compared to traditional construction materials such as bricks, and wood.
- Increase in the number of building codes that demand energy efficiency has led to the rise in the number of ICF constructions in the residential sector.
- For instance, the new energy code in Canada demands continuous below-grade insulations in residential structures.
- According to distributors and installers in the two major markets of the United States and Canada, the vast majority of ICF home constructions are skewed toward high-end custom homes, and the demand is still being driven by homeowners, in terms of the number of projects.
- Multi-family homes attribute to the largest market growth in the residential sector. Furthermore, basement constructions still make up a significant portion of ICF residential construction works.
- Hence, with growing awareness and promotional campaigns held by various ICF organizations, the market for ICF in the residential sector is expected to grow over the forecast period.
North America to Dominate the Market
- The global ICF market is dominated by North America owing to the high demand from end-user industries in the United States.
- The demand for ICF in the United States is driven by commercial and institutional sub-segments. However, the residential sub-segment held a dominant position in the US ICF market in 2018.
- The growing residential construction industry in the United States is expected to drive the demand for ICF in the region.
- The municipal and state governments have largely adopted the ICF technology, to abide by the quicker construction timelines and long-term energy savings. Additionally, there has been a consistently growing demand for ICF from schools.
- Furthermore, rebuilding in Texas and Florida following the hurricanes is also expected to increase home building activities. The capability of ICF walls to withstand strong winds is expected to drive the ICF market in these cities, over the forecast period.
- Hence, North America is likely to dominate the ICF market during the forecast period.
Competitive Landscape
The market for Insulated Concrete Form (ICF) is consolidated among the top five players accounting for a large chunk of the market. The major players of the market iclude NUDURA, Airlite Plastics Company & Fox Blocks, Amvic Inc., and Logix Insulated Concrete Forms Ltd, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
