Dublin, May 22, 2023 (GLOBE NEWSWIRE) -- The "Global 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) & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The market for exterior insulation and finish system is estimated 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%. Exterior insulation and finish system is used as non-load bearing external cladding system for buildings.
It is used to provide insulation, water resistance, and a finished surface. These are also known by names like external wall insulation system (EIWS) and external thermal insulation cladding system (ETICS). These are used on external walls and facades and help in increasing the energy efficiency of a building. The reduction in energy consumption and focus on green buildings, and stringent regulations to control greenhouse gas emissions are driving the market growth of exterior insulation and finish system market in the forecast period.
By Type, Polymer-based (PB) accounted for the largest market share during the forecast period
The Exterior insulation and finish system market has been segmented by type, such as Polymer-based (PB) and Polymer-modified (PM). The polymer based system uses EPS insulation adhered to the substrate with fiberglass mesh embedded in a nominal 1.6mm base coat. The polymer modified system uses extruded polystyrene insulation (XPS) along with a base coat that is cementitious applied over mechanically attached glass fiber reinforcing mesh. The polymer based system is the most common and dominates the market.
By insulation material, EPS segment accounted for the largest market share in 2022
The Exterior insulation and finish system market is categorized based on different insulation materials such as EPS, MW and others. These are the several types of insulation board used in the EIFS. Mineral wool insulation is made of industrial waste material. XPS (extruded polystyrene), PU (polyurethane), PF (phenolic foam) etc. are included in others. XPS is a type of closed-cell insulation that is frequently utilized in renovation and new construction projects. XPS insulation is often only offered in square or rectangular boards with predefined dimensions due to the manufacturing process. Mineral wool insulation is made of industrial waste material and is fire resistant. Expanded polystyrene or EPS can be moulded and sliced into a variety of shapes, making it exceedingly adaptable. A flat board is the most typical shape for use in new buildings and remodeling. It is the most cost-effective and hence dominates the exterior insulation and finish system market.
By End-use sector, Non-residential segment accounted for the biggest market share in 2022
Exterior insulation and finish system market is categorized as exterior insulation and finish system required for residential and non-residential construction works. The non-residential sector is projected to dominate the market due to increased focus on energy efficient and green buildings. These systems are widely used in non-residential units like hospitals, laboratories, malls, multipurpose halls, gymnasiums, offices, cinema theaters etc.
North America is projected to account for the highest CAGR in the exterior insulation and finish system market during the forecast period
The North American region is experiencing the most rapid growth in the exterior insulation and finish system market, US, Canada, and Mexico in the region being included. Due to increased economic development and focus on energy efficient buildings there is significant growth expected in the exterior insulation and finish system market. The growing trend of construction of green buildings to combat global warming and increasing energy costs drives the market growth of the exterior insulation and finish system market.
Market Dynamics
Drivers
- Growing Investments in Construction Industry
- Stringent Regulations to Reduce Greenhouse Gas Emissions
- Need to Reduce Energy Consumption and Focus on Green Buildings
- Introduction of Rebates and Tax Credits
Restraints
- Health Risks Resulting from Use of Toxic Chemicals as Raw Materials
- Availability of Alternative Green Insulation Material
- Fluctuating Raw Material Prices
Opportunities
- Building-Related Energy-Efficiency Policies and Regulations
Challenges
- Limited Awareness Among End-users
- Lack of Skilled Workers
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 224 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $99.2 Billion |
| Forecasted Market Value (USD) by 2028 | $160.3 Billion |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Exterior Insulation Finish System Market, by Type
7.1 Introduction
7.2 Polymer-based (Pb)
7.3 Polymer-Modified (Pm)
8 Exterior Insulation and Finish System Market, by Insulation Material
8.1 Introduction
8.2 Expanded Polystyrene (Eps)
8.3 Mineral Wool (Mw)
8.4 Others
9 Exterior Insulation and Finish System Market, by Component
9.1 Introduction
9.2 Adhesive
9.3 Insulation Board
9.4 Base Coat
9.5 Reinforcement
9.6 Finish Coat
10 External Insulation and Finish System Market, by Thickness
10.1 Introduction
10.2 1-2 Inches
10.3 3-6 Inches
10.4 More Than 6 Inches
11 External Insulation and Finish System Market, by End-use Industry
11.1 Introduction
11.2 Residential
11.3 Non-Residential
11.3.1 Commercial Buildings
11.3.2 Industrial Buildings
11.3.3 Other Non-Residential Buildings
12 Exterior Insulation and Finish System Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Adjacent & Related Market
16 Appendix
Companies Mentioned
- Adex Systems
- Atlas Eps
- BASF SE
- Cabot Gypsum
- Dow
- Dryvit Systems, Inc.
- Dupont De Nemours, Inc.
- Durabond Products Ltd.
- Durock Alfacing International Limited
- Energex Wall Systems
- IPA Systems, Inc.
- Kingspan Group PLC
- Master Builders Solutions
- Master Wall, Inc.
- Omega Products International
- Owens Corning
- Parex USA, Inc.
- Rockwool International A/S
- Saint-Gobain
- SFS Group AG
- Sika Corporation
- STO SE & Co. KGaA
- Terraco Group
- The Raymond Group
- Wacker Chemie AG
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