Rockville, July 26, 2023 (GLOBE NEWSWIRE) -- The Exterior Insulation and Finish System Market revenues were estimated at US$ 3.3 Billion in 2022 and are anticipated to grow at a CAGR of 13.9% from 2023 to 2033, according to a recently published Fact.MR. By the end of 2033, the market is expected to reach a US$ 13.6 Billion valuation. The EPS Insulation of Exterior Insulation and Finish System is expected to grow with a projected CAGR of 10.5% from 2023 to 2033.
The EIFS sector has profited from the expansion of green building techniques because of its energy-efficient and sustainable characteristic. The construction of green buildings and the reduction of greenhouse gas emissions are the primary factors driving the global EIFS market growth. Leadership in Energy and Environmental Design (LEED) certification has increased demand for sustainable buildings, which can drive the EIFS industry to develop and promote sustainable practices. As of October 2022, there were around 100 thousand LEED-certified projects globally.
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Acrylic binders are a crucial component of EIFS, providing strength, flexibility, and weather resistance to the system. This enhanced durability has played a significant role in driving the adoption of EIFS in the construction industry. The use of acrylic binders in EIFS is a key driver for the increased durability of the system.
Most systems are formulated with 100% acrylic binder, which gives them superior resistance to chalking, yellowing, and fading over time. This makes EIFS a prime option for building owners and developers who are looking for a long-lasting and low-maintenance exterior cladding system. The rich appearance of EIFS finishes is maintained over time due to the use of acrylic binder which helps to prevent the finish from deteriorating.
Government initiatives and incentives have further fueled the growth of EIFS market worldwide. Several countries have implemented policies to encourage the use of energy efficient building solutions, including subsidies, tax benefits and grants. These measures have stimulated the adoption of EIFS systems, contributing to the market’s expansion. Given the continued desire for cost-effective, sustainable building design, EIFS's superior eco-efficiency over alternative wall cladding materials points to a larger adoption of these cutting-edge cladding materials.
Analysis by Country:
Industry Analysis for exterior insulation and finish systems in the United States:
By 2033, the market in the United States is projected to increase by US$ 2.1 billion in absolute terms, reaching a value of US$ 3.2 billion. From 2023 to 2033, the market is anticipated to expand at a CAGR of 10%.
The US EIFS market is anticipated to expand further due to factors including the requirement for energy efficiency. According to ASHRAE Standard 90.1-2010, which mandates the use of EIFS to achieve considerable R-values and adhere to applicable building requirements, all states were forced by the US Department of Energy to amend their commercial construction regulations in 2013 to conform with or exceed it. Several elements have a part in the U.S.'s rising demand for EIFS.
Competitive Landscape
Key players in the Exterior Insulation and Finish System Market are:-
- BASF SE,
- Sika Corporation,
- Owen Corning,
- Wacker Chemie AG,
- Sto SE & Co KGaA,
- Parex Group,
- Danosa,
- Baumit GmbH,
- Dryvit Systems, Inc.,
- Dryvit Systems, Inc.,
- Ceresit,
- Amvic Building System,
- Saint-Gobain Weber,
- Total Wall Systems Inc.
Some of the recent developments in the Exterior Insulation and Finish System Market are:
- In August 2021, RPM International Inc. stated that its Tremco Construction Products Group acquired Pure Air Control Services, Inc., which is a provider of indoor air quality solutions. Pure Air is a service-related company that is strategically significant and mutually beneficial to Tremco Roofing and Construction Products Group. As they join vertical markets, these complementary businesses become more potent.
- In June 2019, RPM International Inc. stated that its Tremco division has acquired Schul International Co., LLC, a firm that manufactures joint sealants for commercial construction, and Willseal LLC, a business that markets and sells Schul products. The acquisition of Schul strengthens Tremco's position as a world market leader and propels RPM to the cutting edge of impregnated foam tape technology.
- In December 2018, in addition to all of Liaver Beteiligungen GmbH's corporate interests, Sto SE & Co. KGaA purchased 100% of Liaver GmbH & Co.'s limited partnership shares.
- In August 2020, Baumit GmbH, which has manufacturing facilities and distribution networks spread across several European nations, has continued to increase its market share internationally.
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Exterior Insulation and Finish System Market, presenting historical market data (from 2018 to 2022) and forecast statistics from 2023 to 2033.
The study reveals extensive growth in Exterior Insulation and Finish System Market by Type (EPS Insulation, XPS Insulation, Mineral Wool), by Insulation Thickness (Standard Thickness, High Performance Thickness), by End Use (Residential, Commercial), by Region (North America, Latin America, Europe, South Asia & ASEAN, East Asia, Middle East, and Africa, and Oceania) from 2023 to 2033.
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