Market Size of Insulated Concrete Form (ICF) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Insulated Concrete Form Market Analysis
The insulated concrete form (ICF) market is expected to grow at a CAGR of more than 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Due to nationwide lockdowns causing supply chain disruptions, construction work and other activities were put on hold to curb the spreading of the virus, thereby negatively affecting the market. However, the market is projected to grow steadily, owing to increased building and construction activities during the forecast period.
- The factors driving the growth of the market studied are the demand for energy-efficient buildings, increased construction of high-rise buildings, increased preparedness toward disasters, and reduced construction time.
- Factors such as the high cost of ICF are expected to restrain the growth of the market studied.
- Increasing promotion and awareness of ICF among manufacturers and consumers and the growing role of EPS in the construction industry are likely to act as opportunities for the growth of the market during the forecast period.
- North America accounted for the highest market share in the ICF market globally, and the Asia-Pacific is likely to dominate the market during the forecast period.
