Insulated Concrete Form Market Analysis by Product, Application, Regional Outlook and Growth Prospects till 2025
The qualitative research study introduced by Global Market Insights on Insulated Concrete Form Market Report provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the Global Insulated Concrete Form market.
Insulated Concrete Form Market from the commercial application will witness significant gains at over 6% from 2019 to 2025. Economic growth in developing countries, favorable FDI policies on commercial construction, and enhanced focus on energy conservation will surge the product demand. Growing government investments in infrastructural and hospitality sector will provide an impetus to the industry development. Proliferating population in the Asia Pacific region along with rapid development in industrial and infrastructural construction will support the business growth in the region. Asia Pacific and Latin America are the fastest growing commercial construction sector, majorly driven by China, India, Indonesia and Brazil.
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Key benefits including lower insurance rates, quieter interiors, faster construction times, durability and energy efficiency are shifting the preference towards the construction of the houses using the Insulated Concrete Form system. Furthermore, manufacturers are investing in new product development that offers higher durability and superior thermal resistance compared to the wood-based construction, this would further increase the industry expansion. Rising occurrence of earthquakes, tsunami, floods, heatwave, hurricanes etc. across the tropical, subtropical and coastal environments has resulted in an increase in the construction of ICF based homes.
Strong growth in the construction industry to accommodate the increasing urban population is supporting the insulated concrete forms market advancement. The global construction sector is projected to cross USD 12 trillion by 2020, at over 3% CAGR. Countries including China, the U.S., and India are expected to dominate the global construction industry. Also, Insulated Concrete Form can reduce the time for construction, thereby reducing labor costs. However, the product penetration is higher in developed countries of North America and Europe.
Government initiatives for reducing the carbon emissions with favorable policies and incentive-based schemes promoting the use of energy efficient materials in the building construction will surge the demand for Insulated Concrete Form in coming years. For instance, in November 2018, the BRE Group and the U.S. Green Building Council (USGBC) announced a partnership to work on developing strategies & solutions for promoting green building performance.
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The global ICF market share in highly competitive with a large presence of multinational and regional players from North America and Europe. The major players include Quad-Lock Building Systems Ltd., Airlite (Fox Blocks), IntegraSpec ICF, Nudura Corporation, Logix Insulated Concrete Forms Ltd., Superform Products Ltd., BuildBlock Building Systems, Amvic and Plasti-Fab. New product developments, strategic mergers & acquisitions, and expansion of distribution network are among the key strategic observed in the industry. For instance, in July 2018, Logix Insulated Concrete Forms Ltd. announced to launch its new product range, Logix XP-1 for wall applications to enhance its industry share.
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Insulated Concrete Form Market Analysis by Product, Application, Regional Outlook and Growth Prospects till 2025
Reviewed by Vinayak Shinde
on
April 25, 2019
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Reviewed by Vinayak Shinde
on
April 25, 2019
Rating:
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