Summary

Overview
Global Insulated Concrete Form Market reached US$ 0.9 billion in 2022 and is expected to reach US$ 1.8 billion by 2030, growing with a CAGR of 5.8% during the forecast period 2024-2031.
High strength, durability and lightweight qualities of insulated concrete forms are expected to boost market expansion. The majority of ICF home developments are high-end custom homes, with homeowners driving demand in terms of project volume. Multi-family homes account for the most market growth in the residential sector. Furthermore, basement construction still accounts for a major share of ICF residential construction projects.
According to U.S. Census Bureau, the residential building business in U.S. was valued at US$ 929.7 billion in July 2022, up from US$ 815.5 billion in July 2021, representing a 14% increase. Ageing residences indicate an increasing remodelling industry, as older properties typically require additional amenities or repair/replace old components. Rising home prices across the country have also prompted homeowners to spend more on home upgrades.
In 2023, North America is expected to be the dominant region holding over 1/3rd of the global insulated concrete form market. The residential sector in U.S. is expanding as a result of the country's increased construction and renovation activity. Wood has been the primary material used in the construction of dwellings in U.S. The market for insulated concrete forms is likely to benefit from the growing need for alternative, innovative raw materials in the building sector to overcome these constraints.
Dynamics
Growing Urban Development
The migration of rural populations to urban regions is raising demand for new construction projects, which in turn stimulates demand for insulated concrete forms. The global emphasis on sustainable and environmentally friendly construction techniques has raised demand for green building technology, particularly ICFs. The Indian Ministry of Housing and Urban Affairs has come up with numerous programmes, such as the 100 smart cities scheme, to enhance urban infrastructure through various supported schemes.
The department of housing and poverty alleviation and the department of urban development combined to establish the ministry of housing and urban affairs. The entire spending authorised for the Ministry of Housing and Urban Affairs year 2020-2021 was US$ 6.85 billion. As a result, population increase, combined with shifting trends, is speeding urban development, which is expected to boost the insulated concrete forms market throughout the study period.
Increasing Real Estate Demand
The growing demand for insulated concrete forms from the building and construction sectors is boosting market size. Insulated concrete forms built for reinforced concrete are ideal for highly seismic zones and are used to insulate the interiors of the house from exterior sounds. As a result of huge increases in demand from the building sector, soundproof buildings are becoming more popular.
According to the Central Sanctioning and Monitoring Committee, 1,68,606 new dwellings in urban areas have been approved for construction under the Pradhan Mantri Awas Yojana in India in 2021. Thus, these factors are likely to promote construction activity in the building & construction sector, helping to build demand for insulated concrete form market.
Costly in Comparison to Alternatives
Compared to standard building materials, ICFs may have a greater initial cost. The initial cost can be a hurdle, particularly for projects with limited budgets or in areas where economic considerations heavily influence construction decisions. Insulated concrete forms demand more energy to produce than typical wood-framed construction.
Insulated concrete forms are more expensive than wood-framed concrete products. Insulated concrete forms cost approximately US$ 150 per square foot, which is 2% to 7% higher than wood-frame construction. As a result, the high price of insulated concrete forms compared to other concrete forms is projected to function as one of the significant hurdles for the insulated concrete form market in the future years.
Segment Analysis
The global insulated concrete form market is segmented based on material, shape, end-user and region.
Increasing Real Estate Investments Drive the Growth of Residential Segment
Residential is expected to be the fastest growing segment with 1/3rd of the market during the forecast period 2024-2031. The growing number of building rules requiring energy efficiency has boosted the amount of ICF structures in the residential sector. For example, the new energy code in Canada requires continuous below-grade insulation in residential constructions. It also helps to minimize heat in buildings, which is driving up demand for the insulated concrete form sector.
The increasing real estate industry is predicted to drive the residential end-user growth during the forecast period. According to the National Investment Promotion and Facilitation Agency, India's real estate business is expected to exceed US$ 1 trillion in 2030. The construction industry is expanding, which is expected to increase demand for insulated concrete forms due to the growing requirement for energy efficiency in buildings and infrastructures.
Geographical Penetration
Growing Spending on Residential Construction in Asia-Pacific
Asia-Pacific is the fastest growing region in the global insulated concrete form market covering about 1/4th of the market. Increased investment in residential development to fulfil rising housing demand is driving the insulated concrete form market. Major residential developments are underway in Asia-Pacific, including the Hamamatsucho Shibaura 1 Chome Redevelopment in Japan and the Lohas Park Residential Development Phase XI in Hong Kong, among others.
The Housing Security Department of China's Ministry of Housing and Urban Development announced a residential building investment of 6.5 million affordable rental units that will be 'greener, smarter and safer' to alleviate housing demand in 40 Chinese cities. Furthermore, according to the India Brand Equity Foundation, India is predicted to become the world's third largest building market by 2022, increasing the demand for insulated concrete forms.
Competitive Landscape
The major global players in the market include Airlite Plastics Company, Amvic Inc., BASF SE, Beco Products Ltd, Durisol UK, Nudura Corporation, ThermaGreen Blocks, BuildBlock Building Systems, LLC, Logix Insulated Concrete Forms Ltd. and Standard ICF Corporation.
COVID-19 Impact Analysis
The COVID-19 pandemic outbreak has interrupted global construction efforts due to government-imposed lockdown restrictions. As a result, the demand for insulated concrete forms is likely to fall over the forecast period. The COVID-19 epidemic has had a negative impact on the demand for insulated concrete forms across several end-use sectors. The COVID-19 epidemic has reduced demand for insulated concrete forms, particularly in the construction sector.
Due to the shutdown, the construction materials supply was halted in 2020. Based on the India Brand Equity Foundation, the construction sector contracted by 50.3% in Q1 2020. As a result, a scarcity of concrete material production is limiting the demand for insulated concrete forms. However, the steady development of manufacturing facilities is likely to raise the need for insulated concrete form in the coming years.
AI Impact
AI can be used during the design stage to optimize building structures for energy efficiency. It includes selecting the best location for ICFs, considering aspects such as sunshine exposure and thermal performance. AI-powered analytics will improve supply chain management by allowing firms to predict demand, manage inventories and expedite production processes. The optimization will improve the availability and affordability of ICF materials.
AI technologies are used in building site management to improve job coordination, resources and scheduling. It will increase overall project efficiency, which may influence the adoption of ICFs in construction projects. While not entirely AI, the incorporation of robotics into construction operations will augment AI technology. Advanced robotic technologies assist in operations like as accurate positioning of ICFs, which speed up building timelines.
Russia-Ukraine War Impact
Geopolitical tensions and wars interrupt supply chains, limiting the availability of raw materials and components. The disruption had an impact on the manufacture and distribution of building supplies, especially ICFs. Uncertainty causes delays in construction projects, influencing demand for building supplies. Variations in currency values and trade relations caused by geopolitical events can affect the cost of imports and exports.
It has an impact on international construction material commerce, which could have implications for the globally ICF industry. Economic downturns or uncertainties may affect the construction and real estate sectors, influencing demand for building materials. Geopolitical developments result in changes to rules and trade practices. New rules or trade restrictions affected the movement of products and materials across borders.
By Material
• Polystyrene Foam
• Polyurethane Foam
• Cement-bonded Wood Fiber
• Others
By Shape
• Flat Wall System
• Screen Grid System
• Waffle Grid System
• Others
By End-User
• Residential
• Commercial
• Others
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Russia
o Rest of Europe
• South America
o Brazil
o Argentina
o Rest of South America
• Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East and Africa
Key Developments
• On November 2022, Foam Holdings, a Wynnchurch Capital, L.P. subsidiary, has announced the acquisition of Amvic Inc., North America's largest producer of expanded polystyrene insulated concrete forms and Concrete Block Insulating Systems Inc. The acquisition will help the company take the lead in the insulated concrete form (ICF) sector.
• On September 2022, Amvic Inc. introduced the Amvic ICF system, an expanded polystyrene (EPS) building block (graphite reinforced) with distinguishing features such as modular interlocking and flame retardance.
• On August 2021, Graven Hill collaborated with Iconic Development Group to offer ICF-constructed homes in UK. In addition, Iconic Development Group is building six homes at Graven Hill and aims to build 20 residences there in the following years.
Why Purchase the Report?
• To visualize the global insulated concrete form market segmentation based on material, shape, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of insulated concrete form market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global insulated concrete form market report would provide approximately 62 tables, 55 figures and 193 pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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Table of Contents

1. Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
3.1. Snippet by Material
3.2. Snippet by Shape
3.3. Snippet by End-User
3.4. Snippet by Region
4. Dynamics
4.1. Impacting Factors
4.1.1. Drivers
4.1.1.1. Growing Urban Development
4.1.1.2. Increasing Real Estate Demand
4.1.2. Restraints
4.1.2.1. Costly in Comparison to Alternatives
4.1.3. Opportunity
4.1.4. Impact Analysis
5. Industry Analysis
5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
5.5. Russia-Ukraine War Impact Analysis
5.6. DMI Opinion
6. COVID-19 Analysis
6.1. Analysis of COVID-19
6.1.1. Scenario Before COVID
6.1.2. Scenario During COVID
6.1.3. Scenario Post COVID
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Consumer Electronics Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. By Material
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
7.1.2. Market Attractiveness Index, By Material
7.2. Polystyrene Foam*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Polyurethane Foam
7.4. Cement-bonded Wood Fiber
7.5. Others
8. By Shape
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Shape
8.1.2. Market Attractiveness Index, By Shape
8.2. Flat Wall System*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Screen Grid System
8.4. Waffle Grid System
8.5. Others
9. By End-User
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
9.1.2. Market Attractiveness Index, By End-User
9.2. Residential*
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Commercial
9.4. Others
10. By Region
10.1. Introduction
10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
10.1.2. Market Attractiveness Index, By Region
10.2. North America
10.2.1. Introduction
10.2.2. Key Region-Specific Dynamics
10.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
10.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Shape
10.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
10.2.6.1. U.S.
10.2.6.2. Canada
10.2.6.3. Mexico
10.3. Europe
10.3.1. Introduction
10.3.2. Key Region-Specific Dynamics
10.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
10.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Shape
10.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
10.3.6.1. Germany
10.3.6.2. UK
10.3.6.3. France
10.3.6.4. Italy
10.3.6.5. Russia
10.3.6.6. Rest of Europe
10.4. South America
10.4.1. Introduction
10.4.2. Key Region-Specific Dynamics
10.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
10.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Shape
10.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
10.4.6.1. Brazil
10.4.6.2. Argentina
10.4.6.3. Rest of South America
10.5. Asia-Pacific
10.5.1. Introduction
10.5.2. Key Region-Specific Dynamics
10.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
10.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Shape
10.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
10.5.6.1. China
10.5.6.2. India
10.5.6.3. Japan
10.5.6.4. Australia
10.5.6.5. Rest of Asia-Pacific
10.6. Middle East and Africa
10.6.1. Introduction
10.6.2. Key Region-Specific Dynamics
10.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
10.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Shape
10.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11. Competitive Landscape
11.1. Competitive Scenario
11.2. Market Positioning/Share Analysis
11.3. Mergers and Acquisitions Analysis
12. Company Profiles
12.1. Airlite Plastics Company*
12.1.1. Company Overview
12.1.2. Product Portfolio and Description
12.1.3. Financial Overview
12.1.4. Key Developments
12.2. Amvic Inc.
12.3. BASF SE
12.4. Beco Products Ltd
12.5. Durisol UK
12.6. Nudura Corporation
12.7. ThermaGreen Blocks
12.8. BuildBlock Building Systems, LLC
12.9. Logix Insulated Concrete Forms Ltd.
12.10. Standard ICF Corporation
LIST NOT EXHAUSTIVE
13. Appendix
13.1. About Us and Services
13.2. Contact Us