Insulated Concrete Form Market Set to Register 5.95% CAGR During 2018-2023

“The insulated concrete form market is projected to grow at a CAGR of 5.95% during the forecast period.”

The insulated concrete form market is estimated to be USD 1.11 billion in 2018 and is projected to reach USD 1.49 billion by 2023, at a CAGR of 5.95% from 2018 to 2023. The growth of the insulated concrete form market is primarily driven by factors, such as increase in urban population, rapid industrialization, and large-scale investments in residential and non-residential sectors. The construction industry is rapidly evolving, and huge differences can be witnessed in the structures built recently as compared to those built over a decade ago. Changing lifestyles, growing urbanization trend, and increasing demand for energy-efficient and eco-friendly residential and non-residential buildings have forced architects and engineers to innovate the design of concrete structures suited for various applications and requirements.

 

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The insulated concrete form market is gaining momentum in the modern construction industry due to factors such as increased adoption of green buildings and favorable government regulations. Features associated with insulated concrete form, such as fire & sound resistance, high insulation values, and impact resistance are also driving the demand for insulated concrete form. However, lack of awareness regarding the benefits of insulated concrete form acts as a challenge to the growth of the market.

 

“The expanded polystyrene foam segment is projected to lead the insulated concrete form market from 2018 to 2023.”

Based on material, the expanded polystyrene foam segment is projected to lead the insulated concrete form market during the forecast period. The growth of this segment can be attributed to the increasing demand for expanded polystyrene foam from residential and non-residential construction sectors, due to its properties such as lightweight, fire & noise resistant, design flexibility, and durability. The need to provide insulation for walls, foundation, and roofs is another significant factor contributing to the growth of the expanded polystyrene foam segment.

 

“The North American region is expected to grow at the highest CAGR during the forecast period.”

The insulated concrete form market in North America is projected to grow at the highest CAGR from 2018 to 2023. This growth can be attributed to large-scale government investments in the residential sector in this region. Additionally, the increasing population and rising disposable income accelerate the per capita spending on construction. The US and Canada are considered to be lucrative markets for the upcoming public and private construction projects.

 

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Breakdown of Primaries

Primary interviews were conducted with a number of industry experts to collect data related to different segments of the insulated concrete form market. Estimates reached after analyzing secondary sources were validated through these interviews. Primary sources included professionals such as concrete suppliers, additive manufacturers, distributors, consultants, and academic professionals.

 

The breakdown of primary interviews is mentioned as follows:

By Company Type: Tier 1 – 35%, Tier 2 – 30%, and Tier 3 – 35%

By Designation: C-level Executives – 65% and Directors – 35%

By Region: Europe – 28%, North America– 25%, Asia Pacific – 22%, Middle East & Africa – 15%, and South America – 10%

 

Note: The tier of companies is defined on the basis of their total revenue, as of 2017.

Tier 1: >USD 5 billion; Tier 2: USD 1 billion to 5 billion; and Tier 3:

 

Key players profiled in the report are as follows:

  1. NUDURA Corporation (Canada)
  2. Quad-Lock Building Systems (Canada)
  3. AMVIC (Canada)
  4. Fox Blocks (US)
  5. BASF (Germany)
  6. LOGIX Insulated Concrete Forms (UK)
  7. ConForm Global (US)
  8. KORE (Ireland)
  9. Polycrete International (Canada)
  10. LiteForm (US)
  11. Sunbloc (UK)
  12. Rastra (US)
  13. SuperForm Products (Denmark)
  14. Durisol (Australia)
  15. Beco Products (UK)

 

Related Report:

Building Panels Market by Type (Concrete Panels VIP SIP Wood Panel) Raw Material (Concrete Plastic Metal Wood Silica) End Use (Floors & Roofs Walls Columns & Beams Staircase) Application (Residential & Non-Residential) - Forecast to 2021

Rising demand from the residential sector to drive the market for building panels” The global market for building panels is projected to grow from USD 170.83 billion in 2016 to reach USD 230.93 billion by 2021, at an estimated CAGR of 6.21%. Rapid increase in urban population require faster and cheaper construction of buildings and facilities without compromising on the quality. Also, there has been a gradual shift in both builders’ and consumers’ choice from traditional construction methods to sustainable infrastructure. Building panels is not only effective in terms of the cost associated with it, but can also withstand the impact of any natural calamities such as earthquake and storms.

Read More: https://watchersofmarkets.com/products/building-panels-market-by-type-concrete-panels-vip-sip-wood-panel-raw-material-concrete-plastic-metal-wood-silica-end-use-floors-roofs-walls-columns-beams-staircase-application-residential-non-residential-forecast-to-2021

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Posted by on Saturday August 11 2018, 5:30 AM EDT. All trademarks acknowledged. Filed under Business & Financial Services, Business Services, Construction, Featured Press Release, Machinery & Parts, Manufacturing, Manufacturing & Construction, Technology Hardware & Equipment, Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

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