Insulated Concrete Form (ICF) Market Research Report - Global Forecast to 2032

Insulated Concrete Form (ICF) Market Research Report Information By Concrete Shape (Flat Wall System, Screen Grid System, Waffle Grid System, Post & Lintel System), By Material (Polystyrene Foam, Polyurethane Foam, Cement-Bonded Wood Fiber, Cement-Bonded Polystyrene Beads), By Application (Residential, Commercial, Industrial) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/CO/1481-HCR | 113 Pages | Author: Snehal Singh | February 2024         

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Global Insulated Concrete Form (ICF) Market Overview


The Insulated Concrete Forms (ICFs) market reached USD 1.8 billion in 2022. Insulated Concrete Forms (ICFs) industry is anticipated to expand at a CAGR of 7.20% during the forecast period (2023-2032), with a projected market size of USD 3.365 billion by 2032. This growth is driven by the increasing adoption of ICFs in the construction industry worldwide. Increased construction & infrastructural activities and increasing construction space insulation are the key market drivers enhancing market growth.                                Insulated Concrete Form (ICF) Market Overview


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Insulated Concrete Form (ICF) Market Trends




  • Increasing demand for energy-efficient green buildings is driving the market growth.




Insulated concrete forms (ICFs) are essential for constructing safe, energy-efficient, sustainable buildings. These structures offer exceptional benefits such as energy efficiency, durability, sound and fire resistance, and environmental friendliness. Using sustainable materials like Expanded Polystyrene Foam (EPS) and polyurethane in ICF construction enhances energy efficiency and insulation, making them ideal for creating eco-friendly buildings. Different types of ICFs, such as a flat walls, grid, and post & lintel systems, contribute to energy efficiency by absorbing radiation and promoting easy recycling. The increasing demand for green buildings, particularly in European and North American markets, is driven by building regulations that encourage using sustainable and energy-efficient materials in residential and non-residential construction projects. This factor drives the market CAGR.


Additionally, the market for insulated concrete forms (ICFs) is experiencing significant growth due to their enhanced thermal insulation properties and increasing popularity among consumers. ICFs are made from materials such as Expanded Polystyrene Foam (EPS) and polyurethane, which improve energy efficiency and enhance the insulation of the construction space. These forms can absorb radiation and be recycled, making buildings constructed with ICFs more energy-efficient. Additionally, the use of ICFs reduces construction time. With growing concerns about natural disasters like cyclones, earthquakes, and tsunamis, people are increasingly opting for strong, resilient homes built with insulated concrete forms.Thus, driving the Insulated Concrete Form (ICF) market revenue.


Insulated Concrete Form (ICF) Market Segment Insights


Insulated Concrete Form (ICF) Concrete Shape Insights


Based on concrete shape, the Insulated Concrete Form (ICF) market segmentation includes flat wall systems, screen grid systems, waffle grid systems, and post & lintel systems.The flat wall system segment dominates the Insulated Concrete Form (ICF) market. Its widespread adoption and versatility make it the preferred choice in various construction projects. This system offers easy installation and provides a smooth and even surface for construction. It is favored for its simplicity, cost-effectiveness, and ability to meet construction requirements efficiently.


Insulated Concrete Form (ICF) Concrete Shape Insights


Based on concrete shape, the Insulated Concrete Form (ICF) market segmentation includes Polystyrene foam, Polyurethane foam, Cement-bonded wood fiber,and Cement-bonded polystyrene beads. The polystyrene foam segment holds the dominant position in the Insulated Concrete Form (ICF) market. It is widely used and offers several advantages. Polystyrene foam provides excellent insulation, strength, and ease of handling during construction. It is lightweight, durable, and resistant to moisture and pests, making it a preferred choice for builders.


Insulated Concrete Form (ICF) Application Insights


The Insulated Concrete Form (ICF) market segmentation, based on application, includes Residential, Commercial, Industrial. The residential segment dominates the Insulated Concrete Form (ICF) market, primarily driven by its widespread use in residential construction projects. Due to their energy efficiency, durability, and enhanced thermal performance, ICFs are extensively adopted in residential buildings, including single-family homes and multi-family complexes.


Figure1: Insulated Concrete Form (ICF) Market, by Application, 2022&2032(USD billion)                                    Insulated Concrete Form (ICF) Market


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Insulated Concrete Form (ICF) Regional Insights


By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Insulated Concrete Form (ICF) market area will dominate this market; the market growth in this Region is estimated to be driven by a robust economy, favorable market conditions for commercial real estate, and an increase in government funding for public works and institutional buildings.


Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure2: INSULATED CONCRETE FORM (ICF) MARKET SHARE BY REGION 2022 (%) 
INSULATED CONCRETE FORM (ICF) MARKET SHARE BY REGION
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Europe's Insulated Concrete Form (ICF) market accounts for the second-largest market share; the industry in this Region is projected to experience growth driven by the early adoption of ICF products and the increasing demand for sustainable building solutions. Further, the German Insulated Concrete Form (ICF) market held the largest market share, and the UK Insulated Concrete Form (ICF) market was the fastest-growing market in the European Region.


The Asia-Pacific Insulated Concrete Form (ICF) Market is expected to grow fastest from 2023 to 2032. The growing usage of ICF blocks in commercial construction drives market expansion. Moreover, China’s Insulated Concrete Form (ICF) market held the largest market share, and the Indian Insulated Concrete Form (ICF) market was the fastest-growing market in the Asia-Pacific region.


Insulated Concrete Form (ICF) Key Market Players& Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the Insulated Concrete Form (ICF) market grow even more. Market participants are also undertaking various strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Insulated Concrete Form (ICF) industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the  Insulated Concrete Form (ICF) industry to benefit clients and increase the market sector. In recent years, the Insulated Concrete Form (ICF) industry has offered some of the most significant advantages. Major players in the Insulated Concrete Form (ICF) market, including NUDURA Corporation (Canada), Quad-Lock Building Systems (Canada), AMVIC (Canada), Fox Blocks (US), BASF (Germany)., and Various companies, including industry leaders, are investing in research and development activities to stimulate market demand.


Foam Holdings manufactures and distributes custom EPS, EPP, and ARCEL foam products to various industries, including packaging, appliances, building products, cold chain, automotive, and more. Recently, Foam Holdings, a company under Wynnchurch Capital, L.P., announced the acquisition of Amvic Inc., a prominent manufacturer of expanded polystyrene (EPS) insulated concrete forms (ICF) in North America, along with Concrete Block Insulating Systems Inc. This strategic acquisition positions the company as a leading player in the ICF market, enhancing its market


 presence and capabilities.


Amvic Building System, established in 1997, is a Toronto-based manufacturer specializing in polystyrene building materials. Their insulation solutions cater to residential, commercial, and agricultural buildings.Amvic Inc. introduced the Amvic ICF system, a distinctive expanded polystyrene (EPS) building block with modular interlocking and flame retardant properties, making it an innovative choice for construction projects.


Key Companies in the Insulated Concrete Form (ICF) Market Include



  • NUDURA Corporation (Canada)

  • Quad-Lock Building Systems (Canada)

  • AMVIC (Canada)

  • Fox Blocks (US)

  • BASF (Germany)


Insulated Concrete Form (ICF) Industry Developments


March 2023: Airlite Structures, a manufacturer of ICFs, announced that it has raised $10 million in Series A funding. This funding will be used to expand the company's manufacturing capacity and to grow its sales and marketing efforts.


April 2023: The International Code Council (ICC) approved the 2023 International Residential Code (IRC), which includes changes that make it easier to build with ICFs. These changes include allowing ICFs to be used as exterior sheathing and allowing them to be used in areas with high wind speeds.


May 2023: The National Association of Home Builders (NAHB) released a report that found that the use of ICFs in new home construction is increasing. The report found that the use of ICFs increased by 10% in 2022.


Insulated Concrete Form (ICF) Market Segmentation


Insulated Concrete Form (ICF) Concrete Shape Outlook



  • Flat wall system

  • Screen grid system

  • Waffle grid system

  • Post & Lintel system


Insulated Concrete Form (ICF) Material Outlook



  • Polystyrene foam

  • Polyurethane foam

  • Cement-bonded wood fiber

  • Cement-bonded polystyrene beads


Insulated Concrete Form (ICF) Application Outlook



  • Residential

  • Commercial

  • Industrial


Insulated Concrete Form (ICF) Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 1.8 billion
Market Size 2023 USD 1.9296 billion
Market Size 2032 USD 3.365313854 billion
Compound Annual Growth Rate (CAGR) 7.20%(2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Concrete Shape, Material, Application, and Region
Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled  NUDURA Corporation (Canada), Quad-Lock Building Systems (Canada), AMVIC (Canada), Fox Blocks (US), and BASF (Germany).
Key Market Opportunities To achieve appropriate curing of concrete in such high temperatures
Key Market Dynamics Increase the insulation of construction space




Frequently Asked Questions (FAQ) :

The Insulated Concrete Form (ICF) market size was valued at USD 1.8 Billion in 2022.

The market is estimated to grow at a CAGR of 7.20% during the forecast period, 2023-2032.

North America had the largest share of the Insulated Concrete Form (ICF) Market

The major players in the market are NUDURA Corporation (Canada), Quad-Lock Building Systems (Canada), AMVIC (Canada), Fox Blocks (US), and BASF (Germany).

The Flat wall system Insulated Concrete Form (ICF) category dominated the market in 2022.

Residential witnessed the largest share in the Insulated Concrete Form (ICF) Market

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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