Insulated Concrete Form Market Size

Insulated Concrete Form (ICF) Market size was over USD 1.03 billion in 2023 and is projected to exceed USD 1.85 billion by 2036, growing at over 4.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of insulated concrete form is assessed at USD 1.07 billion. The growth of the market can be attributed to the growing demand for energy-efficient green buildings, rapid urbanization, and rising need for disaster-resistant building construction across the world. According to the World Bank, about 55 percent of the world’s total population live in urban areas. 80 percent of the global GDP share is generated in the cities. Along with these, growing promotion and awareness about ICF among consumers and manufacturers, and escalating number of government initiatives to promote sustainable building measures are also expected to drive market growth in the upcoming years. Furthermore, surge in the popularity of durable building insulation and prefabricated construction among builders to meet energy-conservation norms, is projected to offer abundant growth opportunities to the market in the near future.