Date: 2017-05-26
Insulated concrete form or insulating concrete form (ICF) is a system of formwork for reinforced concrete which is made with a rigid thermal insulation that stays in place as a permanent interior and exterior substrate for walls, floors, and roofs. The forms can be characterized into three main categories: Block, Panel and Plank, each having their own advantages.

The global Insulated Concrete Form market was estimated at USD$ 504.8 million in 2016, and is anticipated to reach USD$ 711.3 million by 2021, expanding at a CAGR of 5.6% between 2017 and 2021. Insulated Concrete Form Market size is expected to rise prominently, driven by escalating demand for green construction across the residential and commercial sectors. The ability of the product to provide material strength, sound absorption, high indoor air quality, fire protection, energy efficiency, and ecological sensitivity to the buildings will generate profitable avenues for the business.
Manufacturers have recognized the importance of minimizing operating costs, which will play a crucial role in shaping the industry trends in the next few years. The Federal and State governments are also contributing toward the business expansion. For instance, the European Union has introduced new building codes to be agreed upon by the construction sector. Even the U.S. government has implemented energy conservation programs. These initiatives are sure to leverage the business expansion.

Insulated Concrete Form Market, By Application
Based on application area, residential usage is expected to remain the leading segment and accounted for over 55% of the global insulated concrete form market share in 2015 and may surpass 150 million square foot by 2024. Additionally, global population is expected to increase from 7 billion in 2011 to 8.9 billion by 2024, further escalating residential construction demand.

Industrial applications are expected to grow at the fastest rate during the forecast period followed by infrastructure due to a dynamic regulatory landscape. Overall, around USD 80 trillion is expected to be spent globally between 2016 to 2024, which will also drive demand.

Some of the major competitors for ICF market share include Airlite (Fox Blocks), BuildBlocks, Amvic, Logix, Quad-Lock and IntegraSpec were the key companies.

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Joanna | Executive – International Business and partner Relations
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