LONDON, March 24, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company's research report on the insulated concrete form market, the increasing demand for energy efficient buildings is driving the insulated concrete form (ICF) market. The construction industry, particularly in regions such as Europe and North America, is increasingly constructing green and energy-efficient buildings. ICFs are lightweight, hollow forms generally manufactured using high-density expanded polystyrene panels. These panels are connected and distinctively designed with 100% recycled polypropylene webs. ICFs minimize the waste produced, which is 100% recyclable. ICFs enhance the energy efficiency of construction buildings. For example, in 2020, The Howland Green Business Centre in Canada was built using the new XR35 by Nudura, an enhanced insulated concrete form, which makes the building's combined thermal resistance value higher than the insulated concrete forms used in other similar structures.
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The global insulated concrete form market size is expected to grow from $0.93 billion in 2021 to $0.98 billion in 2022 at a compound annual growth rate (CAGR) of 5.39%. The growth in the market is mainly due to the companies' rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The insulated concrete form industry share is expected to reach $1.23 billion in 2026 at a CAGR of 5.81%.
Public-private partnerships are the key trend in the insulated concrete form market. For instance, in April 2021, the Insulating Concrete Forms Manufacturers Association (ICFMA), a UK-based company that promotes the use of Insulating Concrete Forms (ICF), announced a partnership with the National Ready Mixed Concrete Association's (NRMCA) Build with a Strength program, Build with Strength 2.0. The program is partnering with Habitat for Humanity International to secure decent, inexpensive, and sustainable housing across the United States, and it is donating concrete for the construction of Habitat homes. Furthermore, Graven Hill, a self-build village in the United Kingdom, has partnered with Iconic Development Group (IDG) to offer ICF-constructed homes in the United Kingdom beginning in August 2021.Moreover, IDG is building six homes at Graven Hill and plans to build 20 houses at that site in the coming years.
Major players in the insulated concrete form market are Nudura Corporation, Quad-Lock Building Systems, AMVIC, Beco Products, LOGIX Insulated Concrete Forms, Polycrete International, LiteForm, Sunbloc, Rastra, SuperForm Products, Durisol, Fox Blocks, ConForm Global, KORE, Mikey Block Co, Integraspec, Standard ICF Corp, and Logix Insulated Concrete Forms Ltd.
The global insulated concrete form market forecast is segmented by material into polystyrene foam, polyurethane foam, cement-bonded wood fiber, cement-bonded polystyrene beads, cellular concrete; by type into waffle grid system, flat wall system, post and beam system, others; by application into commercial, industrial, infrastructural, residential.
North America was the largest region in the insulated concrete form market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the insulated concrete form market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Insulated Concrete Form Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide insulated concrete form market overviews, insulated concrete form market analyze and forecast market size and growth for the whole market, insulated concrete form market segments and geographies, insulated concrete form market trends, insulated concrete form market drivers, insulated concrete form market restraints, insulated concrete form market leading competitors' revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
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