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Insulated concrete form market to register increased traction over 2019-2024, U.S. to emerge as a prominent regional contender

Author : Rahul Varpe | Published Date : 2019-03-25 

U.S. insulated concrete form market share dominates regional demand, with residential applications alone valued at over USD 100 million in 2015. Demand is primarily driven by the need to sustainable construction to save energy. Insulated Concrete Form Market size to exceed USD 970 million by 2024.

Rising consumer preference for energy effective buildings accompanied by the need to reduce operating e will be a key global insulation concrete form market share trend. Policies such as energy saving program by U.S., Net Zero in Canada, and new building codes by EU will fuel insulated concrete forms industry growth.

Increasing infrastructure expenditure in Asia Pacific and MEA, along with government regulations relating to demand for energy efficiency, safety and need to reduce construction time is anticipated to stimulate industry growth.

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Close to 80% of ICFs are used in below-grade applications for residential applications, with revenue poised to approach USD 500 million by 2024. Industrial and infrastructure applications should see more than 7% growth. Key ICF market features include technology access, cost reduction, energy conservation and strong insulation performance.

Residential insulated concrete form market share may exceed 150 million square feet by 2024, with the industry anticipating significant penetration across APAC &MEA.

Industrial applications should see growth in excess of 10%, driven by favorable infrastructure and commercial construction spending trends.

Asia Pacific, backed by strong domestic demand from China, Australia, Japan and India insulated concrete form market, generated more than USD 15 million in revenue for PU foam based ICF for 2015.

North America, through U.S., is the largest ICF market due to consumer preference towards energy efficient buildings and willingness to use innovative technologies.

In revenue terms, polystyrene foams dominate the industry and were valued at over USD 300 million in 2015. Cement-bonded polystyrene beads in Asia Pacific may grow significantly and surpass 2 million square feet by 2024.

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Global insulated concrete forms market share is highly competitive due to presence of multinationational players. 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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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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