New York, Sept. 23, 2019 (GLOBE NEWSWIRE) -- Growing construction activities in emerging economies are one of the major factors influencing market growth.
The global insulated concrete form (ICF) market is expected to reach USD 1.56 Billion by 2026, according to a new report by Reports and Data. Insulating concrete forms (ICFs) are used to make cast-in-place concrete walls, sandwiched between two layers of insulation material. These are used to hold fresh concrete that remains in place permanently to provide insulation for the structure they enclose. Typical applications include low-rise buildings ranging from residential to commercial to industrial.
One of the most significant drivers of the market is the growth in construction activities. At present, the construction sector emphasizes on improved energy efficiency, comfort, and safety. Developing regions, including Asia, Latin America, and the Middle East have been observing a notable rise in the construction activities, which would stimulate the growth of the market in the upcoming years.
Additionally, increasing instances of natural disasters, such as hurricanes, tsunamis, floods, earthquakes, and volcanic eruptions, among others are expected to drive the demand for disaster-resistant buildings. A substantial upsurge in the construction of such buildings in disaster-prone areas is likely to boost the demand for ICF in making of walls and roofs.
The growing need for effective thermal insulation solutions in a building is rapidly gaining traction in the market. The vital role played by ICF in maintaining thermal insulation and reducing the costs related to heating buildings and structures are expected to stimulate the product demand. Besides, a surge in demand for sustainable buildings is expected to propel the product demand.
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Further key findings from the report suggest
- By material type, polystyrene held the largest market share in 2018 and is expected to grow at a rate of 4.8% in the forecast period. The high demand for polystyrene is due to their lightweight, superior thermal insulation, and low cost. Lightweight expanded polystyrene foams find an extensive end-user application on account of their low density, dimensional stability, enhanced mechanical properties, and thermal insulation.
- By application, residential sub-segment contributed to the largest market share of around 50.0% in 2018 and is likely to grow at a rate of 4.7% in the forecast period, due to the rapid growth of population and urbanization coupled with high disposable income.
- The market in North America dominated the market in 2018 and is likely to witness a CAGR of 4.8% in the forecast period. Growing concerns of the homebuyers about issues, such as energy costs, and increasing acceptance of greater energy efficiency offered by the ICFs are anticipated to boost the product demand in the forecast period.
- Key participants include Nudura Corporation, Amvic, Quad-Lock Building Systems, Fox Blocks, BASF SE, Conform Global, Logix Insulated Concrete Forms, Polycrete International, Liteform, and Kore, among others.
- In March 2015, Kore, a leading player in the market, announced their participation in SEAI’s Better Energy Warmer Homes Scheme by offering free cavity wall insulation and attic insulation across the country. The Scheme is intended at decreasing energy in households across Ireland.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/insulated-concrete-form-icf-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global insulated concrete form (ICF) market on the basis of material type, design, application, and region:
Material Type Outlook (Volume, Million Square Feet; 2016-2026 and Revenue, USD Million; 2016-2026)
- Polystyrene
- Cement-Bonded Wood Fiber
- Polyurethane Foam
- Others
Design Outlook (Volume, Million Square Feet; 2016-2026 and Revenue, USD Million; 2016-2026)
- Flat System
- Grid System
- Post-and-Beam System
Application Outlook (Volume, Million Square Feet; 2016-2026 and Revenue, USD Million; 2016-2026)
- Residential
- Commercial
- Infrastructure
- Industrial
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Regional Outlook (Volume, Million Square Feet; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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