Insulated Concrete Form Market - Forecast (2024 - 2030)
The insulated concrete form is a system for reinforced concrete of?expanded polystyrene rigid insulation?blocks which are separated by plastic webbing. Insulated concrete form offers various properties such as?easy to install, excellent strength, high durability, and the ability to be well-sealed for new construction. Insulated concrete form is used to prevent air leakage through the walls which is one of the major driving factors for the insulated concrete form industry growth from the construction sector. In addition, insulated concrete materials such as polystyrene and polyurethane are used to improve the thermal insulation property of concrete. Thus, due to the growing demand for lightweight concrete is growing the demand for concrete materials which is estimated to grow insulated concrete form industry.
Impact of COVID-19
Due to the COVID-19 pandemic, the requirement of insulated concrete form has been negatively affected by various end-use industries. The demand for insulated concrete form is decreased mainly from construction sector because of the COVID-19 pandemic. Due to lockdown, the insulated concrete form materials were stopped in 2020. According to the India Brand Equity Foundation (IBEF), construction sectors shrunk by 50.3% in Q1 2020. Hence, the lack of production of concrete materials is hampering the requirement of insulated concrete form. However, a gradual increase in the opening of the manufacturing facilities are expected to increase the demand for insulated concrete form in the coming years.
Report Coverage
The report “Insulated Concrete Form Market– Forecast (2021-2026)”, by IndustryARC? , covers an in-depth analysis of the following segments of the insulated concrete form industry.
By Material: Polystyrene, Polypropylene, Cement-Based Wood Fiber, Polyurethane, and Others.
By Systems Type: Flat Wall System, Screen Grid System, Post and Beam System, Waffle Grid System, and Others.
By End-Use Industry: Residential Construction (Independent Homes, Row Homes, Large Apartment Buildings), Commercial Construction (Hospitals and Healthcare Infrastructure, Educational Institutes, Hotels and Restaurants, Banks and Financial Institution, Hyper and Super Market, shopping malls, Others), Industrial Construction, Infrastructure (Roads and Highways, Tunnels, Others), and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia & New Zealand, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa).
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Key Takeaways
Insulated Concrete Form Market Challenges
Higher Cost Compared to its Alternatives
Insulated concrete forms require more energy to produce as compared to conventional wood-framed construction. Insulated concrete forms are costlier than wood frame concrete materials. The cost of insulated concrete forms is about $150 per square foot, which is 2% to 7% more than wood-frame construction. Hence, the high price of insulated concrete forms compared to other concrete forms, is expected to act as one of the major challenges by the insulated concrete form market in the coming years.?
Insulated Concrete Form Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Insulated concrete form market. Major players in the Insulated Concrete Form Market include:
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