Insulated Concrete Form (ICF) Market Analysis

Insulated Concrete Form (ICF) Market Analysis

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With respect to material, the ICF market size from the polystyrene foam material segment is estimated to register over 6.7% CAGR from 2023 to 2032. The increasing adoption of polystyrene foams in production of several consumer products and foams for walls & roofs of buildings can be attributed their insulating and cushioning properties. On account of their durability and strength, ICFs made from polystyrene foam are preferred in areas that are prone to natural disasters, including hurricanes, earthquakes, and tornadoes. Increasing adoption to offer enhanced resistance against high wind loads, impact, and fire will also drive the segment expansion.
 

Based on application, the residential segment accounts for nearly 50% of the insulated concrete form market share and is expected to record notable CAGR from 2023 to 2032 led by the rising number of nuclear families worldwide. ICF is increasingly used in residential building to offer improved energy efficiency, sound insulation, strength, design flexibility, durability and indoor air quality. In comparison to traditional methods, ICF construction saves time and labor costs as it eliminates the need for separate framing as well as insulating processes. The rise in public-private partnerships in new residential construction will also influence the market revenue.
 

North America is dominated around 43% of the insulated concrete form industry revenue share by 2032. The growth can be attributed to the influx of favorable government policies for supporting the adoption of energy-efficient materials in buildings. For instance, numerous government projects, including Affordable Housing Initiative and the New Building Canada Plan (NBCP) have been introduced in Canada. The rising number of residential and commercial buildings in the region have made way for several sustainable construction methods, contributing to the market development.