Selbyville, Delaware, Aug. 31, 2021 (GLOBE NEWSWIRE) —
The insulated concrete form market which estimates the market valuation for insulated concrete form will cross US$ 1,572 million by 2027, according to latest report by Global Market Insights Inc. The rising adoption of energy-efficient products in residential and non-residential buildings will propel the industry growth. The increasing inclination toward sustainable construction methods that require higher levels of acoustic & thermal insulation properties is projected to offer new growth opportunities.
The rising demand for sustainable and green construction to reduce the carbon footprints, disaster resistance, along with benefits including enhancement in heating & cooling requirements in buildings will upsurge insulated concrete form market growth. Key properties of the ICF, offering excellent energy efficiency, sound mitigation, and disaster resiliency will proliferate the industry share. Growing concerns regarding the reduction of carbon dioxide levels coupled with the rising electricity costs will further boost the product demand.
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The cement-bonded wood fiber is projected to grow at a CAGR of around 5.7% through 2027 owing to its increasing applications in the commercial sector. Cement-bonded wood fiber is porous, lightweight, and extremely durable. It does not rot or decay and does not contain plastic. It contains around 90% of recycled materials including softwood aggregates and byproducts of the lumber industry. The growing importance of using sustainable and environment-friendly materials in the construction of buildings for improving their energy efficiency will positively influence the product penetration over the forecast timeframe.
The industrial segment accounted for around 11.3% of the global ICF market in 2027. The rising demand for disaster resilience, fire resistance, energy efficiency, moisture control, mold resistance, and acoustical control will drive the ICF market from industrial, HVAC, and OEM applications. Polyurethane foam has the highest thermal value and is widely used in industrial applications. The expanding manufacturing industry along with the proliferating demand for HVAC systems will fuel global ICF market growth.
North America dominated the insulated concrete form market and accounted for more than 44% of the revenue share in 2020. The surging residential construction activities in the U.S. are projected to expand the product demand. Asia Pacific is projected to grow significantly owing to the emerging applications of insulated concrete form in commercial areas such as hotels, restaurants, and resorts. The increasing insulation demand in China is due to rapidly growing construction and industrial markets. The Chinese government has updated insulation requirements in buildings to reduce the energy consumption and implement design standards for energy-efficiency of public, green, and residential buildings.
The growing demand for insulated concrete form with unique structures and designs in residential & commercial buildings will positively contribute to the overall industry. Some of the major players include Amvic Inc., Airlite (Fox Blocks), Logix Insulated Concrete Forms Ltd., Nudura Corporation, Durisol, and PFB Corporation.
Some of the major findings in the insulated concrete form market report include:
The polystyrene foam segment accounts for the largest share in the global insulated concrete form market. The segment is projected to grow at a CAGR of over 6.7% from 2021 – 2027.
The residential sector accounted for the largest market share of 51.9% in 2020, which is expected to grow considerably during the forecast period
Major players are primarily focusing on expanding their product portfolio and strategic alliances, such as acquisitions, collaborations, partnerships, and joint ventures, to hold a major share in the industry.
Domestic players are expected to compete with international players over the forecast period. The manufacturers are anticipated to develop a strong distribution network to improve their profit margin.
The market is highly fragmented with the presence of large & small players and has a medium-level barrier for new entrants.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Insulated concrete form industry 3600 synopsis, 2017 – 2027
2.1.1 Business trends
2.1.2 Material trends
2.1.3 Application trends
2.1.4 Regional trends
Chapter 3 Insulated Concrete Form Industry Insights
3.1 Industry segmentation
3.1.1 Industry landscape, 2017 – 2027
3.2 COVID 19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.3.2 Value chain disruption analysis (COVID 19 impact)
3.3.3 Vendor matrix
3.4 Technology landscape
3.5 Pricing trends
3.5.1 Price by material
3.5.2 Cost structure analysis
3.5.3 COVID-19 impact on pricing
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Growth drivers
126.96.36.199 Increasing focus on energy efficiency
188.8.131.52 Positive outlook for the construction sector in developing countries
184.108.40.206 Rapid urbanization in emerging economies
220.127.116.11 Favorable government regulations
3.7.2 Industry pitfalls & challenges
18.104.22.168 High cost of ICF products compared to market substitutes
3.8 Innovation & sustainability
3.9 Growth potential analysis, 2020
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Industry rivalry
3.10.5 Threat of substitutes
3.11 Company market share analysis, 2020
3.11.1 Top players analysis
3.11.2 Strategy dashboard
3.12 PESTEL analysis
3.13 Impact of COVID-19 on insulated concrete form industry by application
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.