Global Insulated Concrete Form Market is valued USD 989.47 million in 2016 is anticipated to grow USD 1.66 billion with the compounded annual growth of 5.92 % over the forecast period 2018-2025.
New York 22 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Insulated Concrete Form market industry is poised to raise USD 1.66 billion by 2025. The major factors speculated to pose as challenges for the markets are economic slump in key regions, and lack of awareness concerning the modern & imminent technologies in evolving economies. Rapid urbanization is an opportunity where the market growth is expected. The high manufacturing costs is one of the few chief restraining factors of the market. Insulated Concrete Form (ICF) is a system of formwork for strengthened concrete usually made with a rigid thermal insulation which remains in place as a permanent interior and exterior substrate for floors, walls, and roofs.
The Expanded Polystyrene subsegment of the Material segment is expected to dominate in terms of market share during the forecast period. This growth can be credited to diverse consumer preferences such as comfort, durability, energy efficiency, low maintenance costs, and structural safety.
The Residential subsegment of the Industry segment is speculated to grow with the highest CAGR throughout the period of study owing to rapid urbanization caused primarily due to the rise in requirements for new residential constructions on the global scale.
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Global Insulated Concrete Form Market Size Study By Type (Post & Lintel Systems, Flat Wall Systems, and Grid Wall Systems), By Material (Polyurethane, and Expanded Polystyrene), By Industry (Non-Residential, and Residential), and By Regional Forecasts, 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players include KORE, NUDURA Corporation, Quad-Lock Building Systems, LOGIX Insulated Concrete Form, AMVIC, Rastra, Fox Blocks, Polycrete International, BASF, Polycrete International, ConForm Global, LiteForm, Durisol, Sunbloc, Beco Products, SuperForm Products, and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- North America region accounted for the leading market share, more than 22% of the total market in 2016 due to rising no. of residential projects in the Canada, US, and Mexico.
- Asia Pacific region will be the highest growing segment with respect to geographical segmentation, the region is likely to grow by almost over 7.9% CAGR over the forecast period 2018-2025.
- The Residential subsegment of the Industry segment is speculated to grow with the highest CAGR over forecast period.
- The Expanded Polystyrene subsegment of the Material segment is expected to dominate in terms of market share during the forecast period.
Bizwit Research & Consulting LLP has considered following segments for the study:
- Post & Lintel Systems
- Flat Wall Systems
- Grid Wall Systems
- Polyurethane Foam
- Expanded Polystyrene Foam
- North America
- Asia Pacific
- Latin America
- Rest of the World