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Insulated Concrete Form (ICF) Market Size

Report ID: GMI725
Published Date: Jul 2023
Report Format: PDF

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Insulated Concrete Form (ICF) Market Size

Insulated Concrete Form Market was valued USD 1.2 billion in 2023 and is anticipated to witness more than 7.1% CAGR from 2024 to 2032, driven by the rising number of energy efficient buildings worldwide.

The surging consumer awareness regarding environmental issues have made way for a large number of government regulations as well as advancements in building technologies. Energy-efficient buildings have thus garnered popularity as they help in minimizing energy consumption and their environmental impact to offer comfortable and healthy living and working spaces. Several governments worldwide are also implementing regulations to provide incentives for promoting energy efficiency in buildings. The influx of green building certifications along with the rising advancements in construction techniques, building materials, and energy-efficient technologies will also anchor the market growth.

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Insulated Concrete Form Market Growth Drivers & Restraints

The rising prominence of durable as well as advanced building insulation amongst builders and contractors to meet the energy-saving and energy conservation norms will influence the market growth. However, the higher prices of ICF products in comparison to other substitutes will limit the product preference to some extent. The production of ICF necessitates specialized construction techniques and expertise which leads to additional training and skill, further increasing the labor costs. The additional prices associated with the customization of the ICF systems to fit specific architectural designs may also restrain the industry development.

Insulated Concrete Form Market Report Attributes
Report Attribute	Details
Base Year:	2023
Insulated Concrete Form Market Size in 2023:	USD 1.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	7.1%
2032 Value Projection:	USD 2.25 Billion
Historical Data for:	2018 to 2022
No. of Pages:	200
Tables, Charts & Figures:	180
Segments covered:	Material, Application, and Region
Growth Drivers:	Increasing focus on energy efficient buildings Higher construction of high-rise buildings Favorable government regulations
Pitfalls & Challenges:	High cost of ICF products as compared to market substitutes

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of insulated concrete form is anticipated to witness over 7.1% CAGR from 2024 to 2032, driven by the rising number of energy efficient buildings worldwide.

The residential application segment accounts for nearly 50% of the insulated concrete form market share and is expected to record notable CAGR from 2023 to 2032 driven by the rising number of nuclear families worldwide.

North America is estimated to record more than 43% share of the ICF market by 2032 due to the influx of favorable government policies for supporting the adoption of energy-efficient materials in buildings.

Some of the major participants in the ICF market include Airlite (Fox Blocks), Amvic Inc., Polycrete, Buildblock Building System, Apex Block, Beco Products Ltd., Durisol, ICF Tech, Quad-Lock Building Systems Ltd., Integraspec, Liteform Technologies, Mikey Block, and Nudura Corporation.