Insulated Concrete Form Global Market Report 2024

Insulated concrete form (ICF) refers to a system for forming concrete walls that remains in place permanently as an integral part of the structure and is not removed after the concrete has set. These forms are constructed using high-density styrofoam or other lightweight materials and are often separate panels connected with plastic or metal ties, or they can be pre-formed interlocking blocks.

The primary types of insulated concrete forms include polystyrene foam, polyurethane foam, cement-bonded wood fiber, cement-bonded polystyrene beads, and cellular concrete. Polystyrene foams serve as effective thermal insulators, making them suitable for building insulation. Polyurethane foam is produced by reacting polyols and diisocyanates. Cement-bonded wood fiber is a composite material typically created from waste wood, chipped into a specially classified aggregate, mineralized, and combined with Portland cement. Cement-bonded polystyrene beads are utilized to reduce the density of cement-bonded composites (CBC) and overcome its main limitation in various applications. Cellular concrete is a blend of cement, preformed foam, and water. These types of insulated concrete forms are primarily employed in the construction industry as insulation materials.

The insulated concrete form market research report is one of a series of new reports that provides insulated concrete form market statistics, including insulated concrete form industry global market size, regional shares, competitors with an insulated concrete form market share, detailed insulated concrete form market segments, market trends and opportunities, and any further data you may need to thrive in the insulated concrete form industry. This insulated concrete form market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The insulated concrete form market size has grown strongly in recent years. It will grow from $1.04 billion in 2023 to $1.1 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The expansion observed during the historical period can be attributed to the growing awareness of energy efficiency, the implementation of stringent building codes, a focus on natural disaster resilience, the acceleration of construction speed, and an increased construction of high-rise buildings.

The insulated concrete form market size is expected to see strong growth in the next few years. It will grow to $1.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The anticipated growth in the forecast period can be attributed to the rising demand from the construction industry, an increasing need for energy-efficient buildings, government initiatives and incentives, population growth in urban areas, and considerations related to climate change. Key trends expected in the forecast period encompass advancements in ICF technology, the emergence of hybrid construction systems, the digitalization of construction processes, the development of net-zero energy buildings, and a focus on architectural design flexibility.

The growth of the insulated concrete form (ICF) market is being propelled by the increasing demand for energy-efficient buildings. Particularly in regions like Europe and North America, the construction industry is witnessing a surge in the development of green and energy-efficient buildings. ICFs, manufactured using high-density expanded polystyrene panels, are lightweight, hollow forms with 100% recycled polypropylene webs, minimizing waste and promoting recyclability. These forms enhance energy efficiency in construction by providing thermal resistance, sound insulation, flexibility, and reduced carbon emissions. According to the International Energy Agency, the demand for energy-efficient buildings increased by nearly 1% in 2022 compared to 2021, underscoring the growing significance of energy-efficient construction and driving the insulated concrete form (ICF) market.

The anticipated growth of the insulated concrete form (ICF) market is further driven by the rise in construction activities. Construction activities encompass the diverse processes involved in planning, designing, developing, and assembling buildings and infrastructure. The use of insulated concrete forms in construction contributes to reduced energy consumption, thermal resistance, sound insulation, durability, flexibility, and lower carbon emissions. According to Oxford Economics, global construction output is expected to increase by 42%, reaching USD 15.2 trillion by 2030. This surge in construction activities is a key factor driving the growth of the insulated concrete form (ICF) market.

A notable trend in the insulated concrete form market is the emergence of public-private partnerships. The Insulating Concrete Forms Manufacturers Association (ICFMA) has collaborated with the National Ready Mixed Concrete Association’s (NRMCA) Build with Strength program, specifically Build with Strength 2.0. This program, in partnership with Habitat for Humanity International, aims to provide decent, affordable, and sustainable housing in the United States. Additionally, Graven Hill, a self-build village in the UK, has partnered with Iconic Development Group (IDG) to offer ICF-constructed homes. IDG plans to build 20 houses at the Graven Hill site in the coming years, showcasing the trend of public-private partnerships driving the adoption of insulated concrete forms.

Major companies in the insulated concrete form market are concentrating on innovative products to enhance their market position. One such innovation is the introduction of bio-attributed PU (Polyurethane) foams. These foams are manufactured using renewable or bio-based raw materials, offering an environmentally friendly alternative to traditional PU foams derived from petroleum-based sources. Covestro AG collaborated with Selena Group to launch bio-attributed PU foams, providing clients with a sustainable option that maintains the quality of traditional fossil fuel-based foams. This innovation, along with other environmentally friendly foam options, contributes to improved building thermal insulation and showcases the commitment of major companies to sustainable practices in the insulated concrete form market.

In February 2021, the Insulating Concrete Forms Manufacturers Association (ICFMA) announced a partnership with the National Ready Mixed Concrete Association’s (NRMCA) Build with Strength program, Build with Strength 2.0. This collaboration, in association with Habitat for Humanity International, focuses on supporting affordable and durable housing across the United States by providing concrete for the construction of Habitat homes. NRMCA is actively engaged in promoting the benefits of insulated concrete forms within the industry.

Major companies operating in the in the insulated concrete form market report are Nudura Corporation, Quad-Lock Building Systems Ltd., Amvic Insulated Concrete Forms, Beco Products Ltd., Logix Brands Ltd., Polycrete International Inc., Liteform International Inc., Sunbloc Ltd., Rastra Apex Corp. Ltd., SuperForm Products Ltd., Durisol UK Ltd., Airlite Plastics Company, ConForm Global Pvt. Ltd., KORE Group Holdings Inc., Standard ICF Corp., Badische Anilin und Soda Fabrik, BuildBlock Building Systems LLC., Green Life Buildings Ltd., HIRSCH Servo AG, Inner City Fund Solutions Inc., IQbloc Malta Ltd., ISO SPAN Baustoffwerk GmbH, Polska Z. o. o, JACKON Insulation GmbH, Poliespanso S. r. l., PolySteel UK Ltd., SHC Ltd., Sismo Inc., Styro Stone Pvt. Ltd., Thermo House System Sp. z o. o., Twinwall-ICF Limited, Variant Haus SL

North America was the largest region in the insulated concrete form market in 2023. 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, Middle East, Africa

The countries covered in the insulated concrete form market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The insulated concrete form market consists of sales of plastic foam beads, polypropylene, polybutylene terephthalate, and nylon. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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