Portland, OR, Nov. 08, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global insulated concrete form (ICF) market generated $974.8 million in 2020, and is expected to reach $1.65 billion by 2030, registering a CAGR of 5.5% from 2021 to 2030.
Rise in demand for energy-efficient green buildings and increase in construction activities across the world have boosted the growth of the global insulated concrete form (ICF) market. However, high cost of insulated concrete form hinders the market growth. On the contrary, rapid urbanization across the developing economies is expected to unlock new opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 pandemic severely affected the manufacturing and construction industries due to economical disruptions due to the pandemic.
- The decline in construction of roads hampered the demand for insulated concrete form. Moreover, prolonged lockdown disrupted the supply chain and increased the raw material prices.
The report segments the global insulated concrete form (ICF) market on the basis of material type, application, and region.
Based on material type, the polystyrene segment held the largest share in 2020, contributing to nearly half of the market. Moreover, the segment is estimated to portray the highest CAGR of 6.1% from 2021 to 2030. The report also analyzes the segments including cement bonded fiber and polyurethane.
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On the basis of application, the non-residential segment is projected to manifest the highest CAGR of 6.2% during the forecast period. However, the residential segment held the lion’s share in 2020, accounting for nearly two-thirds of the market.
The global insulated concrete form (ICF) market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020, holding more than one-third of the market. However, the market across Asia-Pacific is projected to showcase the highest CAGR of 6.2% during the forecast period.
The global insulated concrete form (ICF) market report includes an in-depth analysis of the prime market players such as BASF SE, Nudura Corporation, AMVIC, Quad-Lock Building Systems, Logix Insulated Concrete Forms, Fox Blocks, KORE, ConForm Global, Polycrete International, and LiteForm.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
