- The global Insulated Concrete Form Market is predicted to increase owing to increasing demand for green construction, improved structural strength, the demand for a more disaster-resistant material, thermally efficient product and other factors.
JERSEY CITY, N.J., Feb. 15, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Insulated Concrete Form Market" By Product (Polyurethane Foam, Cement-Bonded Wood Fibre, Polystyrene Foam), By Application (Non-Residential, Residential), and By Geography. According to Verified Market Research, the Global Insulated Concrete Form Market size was valued at USD 905.78 Million in 2020 and is projected to reach USD 1,375.26 Million by 2028, growing at a CAGR of 5.20% from 2021 to 2028.
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Global Insulated Concrete Form Market Overview
The global Insulated Concrete Form Market is predicted to increase owing to increase demand for green construction along with sustainability to reduce carbon footprint. The global Insulated Concrete Form Market is gaining traction owing to enhanced disaster resilience. In addition, the appealing characteristic of reducing the amount of energy required to heat or cool buildings is propelling the market ahead. Improved properties of insulated concrete foam, such as improved structural strength and energy efficiency, are causing it to gain popularity in a variety of sectors, including infrastructure, industry, residential, and commercial. This factor has a significant impact on the market's growth. It surpasses wooden roofs and walls in terms of performance and is extremely cost-effective.
Natural disasters such as earthquakes, volcanic eruptions, tornadoes, hurricanes, floods, and tsunamis have increased the demand for a more disaster-resistant material, boosting the global Insulated Concrete Form Market demand. Increased building activity, along with a high demand for a more thermally efficient product, is expected to drive the market forward. Insulated concrete blocks are also classified as green products, making them comply with government regulations. Furthermore, the market for insulated concrete forms is expected to develop owing to the display of excellent acoustic properties. It also has excellent pest resistance, corrosion resistance, and decay resistance, all of which are projected to drive market expansion.
However, a significant amount of capital investment is anticipated to restrain the global Insulated Concrete Form Market's expansion. Another thing to consider is the additional labor cost to manufacture the insulated concrete foam. This works as a restrain and a barrier to entry into the industry, stifling the worldwide Insulated Concrete Form Market's growth.
Key Developments in Insulated Concrete Form Market
- In January 2020, BASF closed the acquisition of Solvay's polyamide (PA 6.6) business. With new and well-known products like Technyl, BASF's polyamide capabilities are expanded. This will enable BASF to provide even better-engineered plastics solutions to its customers, such as for autonomous driving and e-mobility. The deal also gives the corporation better access to emerging markets in Asia, as well as North and South America.
Key Players
The major players in the market are BASF, Quad-Lock Building Systems Ltd., IntegraSpec, Superform Products Ltd., Airlite (Fox Blocks), Amvic, Nudura Corporation, Plasti-Fab, Logix Insulated Concrete Forms Ltd., and BuildBlock Building Systems.
Verified Market Research has segmented the Global Insulated Concrete Form Market On the basis of Product, Application, and Geography.
- Insulated Concrete Form Market, By Product
- Polyurethane Foam
- Cement-Bonded Wood Fibre
- Polystyrene Foam
- Others
- Insulated Concrete Form Market, By Application
- Non-residential
- Residential
- Insulated Concrete Form Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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