New York, United States , July 05, 2023 (GLOBE NEWSWIRE) -- The Global Exterior Insulation and Finish System (EIFS) Market Size is to grow from USD 91.31 billion in 2022 to USD 225.62 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.47% during the projected period.
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The exterior Insulation Finishing System (EIFS), also known as External Thermal Insulation Composite Systems (ETICS), is a type of cladding system that provides an insulated finished surface and waterproofing to the outer walls using an interwoven composite materials system. EIFS is becoming one of the most popular external treatments in the building industry. The growing popularity of exterior insulation finishing systems is due to the belief that few, if any, competing materials offer such a varied range of desired product attributes. Two of the most essential features are superior energy efficiency and virtually unrestricted creativity in design. The expanding construction sector and infrastructure expenditure are significant drivers of the global and regional external insulation finishing system market. Major development and infrastructure spending are expected to skyrocket during the next decade. Furthermore, the growing emphasis on greenhouse gas reduction has resulted in the EIFS market expanding throughout the forecast period. Similarly, the emphasis on ecologically friendly solutions in the building industry is a driving driver in the external insulation finishing system market. Furthermore, ongoing increases in government spending for residential and non-residential development represent a significant opportunity for EIFS market expansion.
Browse key industry insights spread across 210 pages with 130 Market data tables and figures & charts from the report on, "Global Exterior Insulation and Finish System (EIFS) Market Size, Share, and COVID-19 Impact Analysis, By Insulation Type (Polymer-based (PB) and Polymer-modified (PM)), By Insulation material (EPS, MW, Others), By Application (Non-residential and Residential), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here
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The polymer-based (PB) segment is dominating the market with the largest revenue share over the forecast period.
On the basis of insulation type, the global exterior insulation and finish system (EIFS) market is segmented into the polymer-based (PB) and polymer-modified (PM). Among these, the polymer-based (PB) segment is dominating the market with the largest revenue share of 57.3% over the forecast period. External insulation has grown in popularity over the last decade due to factors such as ease of installation, low cost, and polymer-based insulation's resistance to dampness and heat.
The EPS segment is witnessing significant CAGR growth over the forecast period.
On the basis of insulation material, the global exterior insulation and finish system (EIFS) market is segmented into EPS, MW, and others. Among these, the EPS segment is witnessing significant CAGR growth over the forecast period. This growth is most likely owing to the low cost, durability, water resistance, good thermal insulation, low maintenance, and reliability of EPS. EPS provides remarkable heat insulation because to its tightly packed cell structure, which includes over 98% air.
The non-residential segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of application, the global exterior insulation and finish system (EIFS) market is segmented into non-residential and residential. Among these, the non-residential segment is dominating the market with the largest revenue share of 57.2% over the forecast period. Non-residential buildings that use EIFS include schools, hospitals, industrial work spaces, and offices. Growing government concerns, as well as increased investment in commercial and institutional projects, have boosted the non-residential market for external insulation and finish systems.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 43.7% market share over the forecast period. EIFS (exterior insulation and finish system) mouldings, also known as stucco mouldings, come in a variety of shapes and sizes. They are widely used in residential and commercial construction in North America and are gaining popularity worldwide. In the United States, EIFS accounts for around 10% of the commercial wall cladding industry. Furthermore, rising population density, altering consumer preferences, and abundant financial resources are driving the external insulation and finish system market in the region. In contrast, Europe is predicted to grow the fastest during the forecast period. During the forecast period, the Asia Pacific market is expected to rise at a rapid CAGR. This expansion can be ascribed to rapid growth in urbanization, increased construction activity, and a growing awareness of the importance of energy efficiency.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Exterior Insulation and Finish System (EIFS) Market include Dryvit Systems, STO Corp., BASF Wall Systems, Master Wall, Parex, Wacker Chemie AG, Saint-Gobain, Owen Corning, Terraco Group, Rmax, Durabond Products Limited, Adex Systems, Sika Ag, Virginia Stucco Co, Shingobee Builders Inc., Knauf Insulation GmbH, Omega Products International, DurockAlfacing International Limited, and among others.
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Recent Developments
On February 2023, Trinseo, a developer of specialty material solutions, announced the North American introduction of LIGOSTM C 9375, the Company's first all-acrylic latex binder for Building and Construction applications. C 9375's performance benefits set a new standard for high alkaline applications, delivering superior strength, weather ability, and workability. It is specifically intended for cementitious applications in the Building and Construction sector. Hydraulic cement mixes, exterior insulation and finishing systems (EIFS), cementitious repair, ornamental overlays, tile grout, and sprayable and patching mortars/stuccos are also feasible choices.
On January 2022, Natural Polymers, LLC, a Cortland, Illinois-based maker of spray polyurethane foam insulation for building and construction applications, was bought by Owens Corning. Natural's tried-and-true technology will enable the company to provide clients with a varied range of insulating products as well as long-term, sustainable solutions.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Exterior Insulation and Finish System (EIFS) Market based on the below-mentioned segments:
Exterior Insulation and Finish System (EIFS) Market, Insulation Type Analysis
- Polymer-based (PB)
- Polymer-modified (PM)
Exterior Insulation and Finish System (EIFS) Market, Insulation Material Analysis
- EPS
- MW
- Others
Exterior Insulation and Finish System (EIFS) Market, By Component Analysis
- Adhesives
- Insulation boards
- Base coats
- Reinforcement mesh
Exterior Insulation and Finish System (EIFS) Market, By Thickness Analysis
- 1-2 inches
- 3-6 inches
- More than 6 inches
Exterior Insulation and Finish System (EIFS) Market, Application Analysis
- Non-residential
- Residential
Exterior Insulation and Finish System (EIFS) Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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