CHICAGO, May 10, 2023 /PRNewswire/ -- The report "Exterior Insulation and Finish System (EIFS) Market by Type (PB, PM), Insulation Material (EPS, MW), End-use (Residential, Non-residential), Component (Adhesive, Insulation Board), Thickness (1-2 Inches, 3-6 Inches), And Region - Global Forecast to 2028", The market for exterior insulation and finish system is approximated to be USD 99.2 billion in 2023, and it is projected to reach USD 160.3 billion by 2028, at a CAGR of 10.1%. The Exterior insulation and finish system market is experiencing significant growth driven by several factors, including the growing investments in construction industry, stringent regulations on greenhouse gas emissions, and increased focus on energy efficiency of buildings. However, the volatile raw material prices and availability of green insulation alternative material may limit market growth. Despite these restraints, opportunities exist in the market due to favoring policies and regulations. The Exterior insulation and finish system industry also faces the challenge of lack of awareness in the market.
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247 - Tables
50 - Figures
224 - Pages
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By type, Polymer-based system accounted for the largest share in 2022
Polymer- based external insulation and finish system is most used in North America. These systems use fiberglass mesh embedded in a nominal 1.6mm base coat to attach expanded polystyrene (EPS) insulation to the substrate. To boost impact resistance, this can be provided with extra mesh and base coat layers. Extruded polystyrene insulation (XPS) and a cementitious base coat are put over mechanically bonded glass fiber reinforcing mesh in polymer modified external insulation and finish system. Depending on the needs, Polymer-modified- external insulation and finish system employ various base coatings and insulation materials. The polymer-based system dominates the external insulation and finish system market.
By Insulation material, EPS accounted for the largest share in 2022
Foam beads are used to create EPS (expanded polystyrene insulation). The beads are directly exposed to heat or steam, which causes them to enlarge and fuse together. EPS is the most popular insulation material used. EPS is an effective insulator with a small amount of raw material since it is made of 98% trapped air and only 2% plastic. EPS provides excellent thermal insulation, acoustic insulation, and offers moisture resistance. It is durable, easy to install and transport and can be manufactured in almost any shape or size. Owing to these properties it dominates the exterior insulation and finish system market.
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Europe accounted for the largest share of the Exterior insulation and finish system market in 2022.
The expansion of the European construction market can be attributed to the rising demand for housing in urban areas, increased infrastructure development activities, and increased modernization and renovation of buildings to improve their energy efficiency. With the region's robust economic growth, commercial infrastructure construction, such as offices, schools, hotels, restaurants, and leisure facilities, is on the rise. Furthermore, the introduction of various favorable initiatives and investments by governments to improve housing infrastructure is supporting the growth of the European construction market. The increasing awareness of energy efficient buildings is also driving the market growth in this region.
Market Players:
The major players operating in the Exterior insulation and finish system market include BASF SE (Germany), Saint-Gobain (France), Wacker Chemie AG (Germany), Sto SE & Co. KGaA (Germany), Owens Corning (United States) and others.
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Building Thermal Insulation Market - Global Forecast to 2027
Exterior Wall Systems Market - Global Forecast to 2026
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