Insulated Concrete Form Market to achieve over 8% growth from 2017 to 2024: Global Market Insights, Inc.
SELBYVILLE, Del., Jan. 18, 2018 /PRNewswire-iReach/ -- U.S. Insulated Concrete Form Market dominates regional demand, with residential applications alone valued at over USD 100 million in 2015. Demand is primarily driven by the need to sustainable construction to save energy.
Global Insulated Concrete Form Market size to exceed USD 970 million by 2024. Rising consumer preference for energy effective buildings accompanied by the need to reduce operating e will be a key global insulation concrete form market share trend. Policies such as energy saving program by U.S., Net Zero in Canada, and new building codes by EU will fuel insulated concrete forms industry growth.
Initially, the industry faced issues with product acceptance, due to low-awareness, lack of regulatory clarity and an unorganized sector, offering varying ICF grades. However, the situation has been significantly salvaged, as clear regulations and product guidelines have been put in place.
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Increasing infrastructure expenditure in Asia Pacific and MEA, along with government regulations relating to demand for energy efficiency, safety and need to reduce construction time is anticipated to stimulate industry growth.
Close to 80% of ICFs are used in below-grade applications for residential applications, with revenue poised to approach USD 500 million by 2024. Industrial and infrastructure applications should see more than 7% growth. Key ICF market features include technology access, cost reduction, energy conservation and strong insulation performance.
Polystyrene foam was the leading product segment with more than 60% of total insulated concrete form market revenue in 2015. Fire & thermal resistance and durability are expected to drive the polystyrene foam demand.
Residential insulated concrete form market share may exceed 150 million square feet by 2024, with the industry anticipating significant penetration across APAC & MEA.
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Residential applications, which accounted for more than 55% of insulated concrete form market share, are forecast to gain a sizable revenue over the coming seven years. Nearly 80% of insulated concrete forms find applications across residential sectors ? ICF market from residential applications are slated to reach a targeted revenue margin of USD 500 million by 2024.
Insulated concrete forms also find extensive applications across the infrastructure and industrial sectors. Industrial applications are expected to grow at a CAGR of more than 10% over 2016-2024, driven by strict government rules favoring infrastructural development along with increased funding for commercial construction projects.
Asia Pacific, backed by strong domestic demand from China, Australia, Japan and India insulated concrete form market, generated more than USD 15 million in revenue for PU foam based ICF for 2015.
North America, through U.S., is the largest ICF market due to consumer preference towards energy efficient buildings and willingness to use innovative technologies.
In revenue terms, polystyrene foams dominate the industry and were valued at over USD 300 million in 2015. Cement-bonded polystyrene beads in Asia Pacific may grow significantly and surpass 2 million square feet by 2024.
Browse key industry insights spread across 170 pages with 85 market data tables & 29 figures & charts from the report, "Insulated Concrete Form Market Size By Application (Commercial, Industrial, Infrastructure, Residential), By Material (Polystyrene Foam, Polyurethane Foam, Cement-Bonded Wood Fiber, Cement Bonded Polystyrene Beads, Cellular Concrete), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, China, India, Japan, Australia, Malaysia, Indonesia, Thailand, Brazil, Argentina, Mexico, South Africa, UAE, Saudi Arabia, Qatar, Kuwait, Egypt), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/insulated-concrete-form-market
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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