Newly-released exterior insulation and finish system market analysis report by Fact.MR reveals that global sales of Exterior Insulation and Finish Systems in 2023 were held at US$ 3.7 Billion. With 13.9% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 13.6 Billion by the end of the forecast period.
Exterior insulation and finish system in EPS Insulation (PB EIFS) is expected to be the highest prominent generating type in the market, projected to grow at a CAGR of over 10.5% from 2023 to 2033. Exterior Insulation and Finish System in commercial sector by end use is expected to be the highest revenue-generating segment in the market, projected to grow at a CAGR of over 12.5% from 2023 to 2033.
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Exterior Insulation and Finish System (EIFS) is a popular cladding system that has revolutionized the construction industry by offering energy-efficient, aesthetically pleasing, and cost-effective solutions for building exteriors. This versatile system has seen widespread adoption in both residential and commercial construction, and its market has experienced steady growth. In this overview, we will explore the current state of the EIFS market, delve into recent industry news, and provide insights into its future trends and developments.
Market Dynamics and Growth Factors
The EIFS market has seen substantial growth in recent years, driven by several key factors. One of the primary drivers is the increasing emphasis on energy efficiency and sustainability in construction. EIFS, with its thermal insulation properties, helps reduce energy consumption in buildings, thereby lowering heating and cooling costs. As governments and organizations prioritize energy-efficient construction, EIFS has become an attractive choice for builders and property owners.
Additionally, EIFS offers an extensive range of design possibilities, allowing for versatile and aesthetically pleasing finishes. Architects and designers appreciate the flexibility of EIFS, as it can mimic the appearance of various materials, including stucco, brick, or stone. This adaptability contributes to the market’s growth as it caters to a wide spectrum of design preferences.
Furthermore, EIFS is known for its cost-effectiveness. Compared to traditional masonry or stone cladding, EIFS installation is generally faster and more affordable, making it a favorable choice for both new construction and renovation projects.
Market Players: –
- BASF SE
- Sika Corporation
- Owen Corning
- Wacker Chemie AG
- Sto SE & Co KGaA
- Parex Group
- Danosa
- Baumit GmbH
- Dryvit Systems, Inc.
Competitive Analysis:
Key players in the market include BASF SE, Sika Corporation, Owen Corning, Wacker Chemie AG, Sto SE & Co KGaA, Parex Group, Danosa, Baumit GmbH, Dryvit Systems, Inc., Caparol, Ceresit, Amvic Building System, Saint-Gobain Weber, and Total Wall Systems Inc.
Some of the recent developments in the market are :
- In May 2023, Sika Corporation announced that it acquired MBCC group. With this acquisition Sika expanded its presence throughout the world, broadened its selection of goods and services to cover the entire lifecycle of a building, and accelerated the transition to a more sustainable construction industry.
- In June 2022, BASF SE announced the release of Naopor BMB during the American Institute of Architects (AIA) Conference on Architecture in Chicago, Illinois. The low carbon, EPS rigid foam insulation alternative provides additional sustainability benefits in addition to the regular Neopor features.
- In September 2021, Contemporary Amperex Technology Co., Limited (CATL) and BASF SE have formed a partnership to develop battery material solutions. The collaboration aims to advance CATL’s localization in Europe, develop a sustainable battery supply chain, and assist both companies in achieving their global carbon neutrality goals.
- In December 2021, Sika Corporation unveiled a new technological hub. In addition to establishing a technology hub, SIKA increased the amount of adhesives and sealants it produces in India.
- In December 2020, Wacker Chemie AG was funded US$ 313 million by European Investment Bank (EIB). Wacker Chemie will use the financing to fund its research and development initiatives, with a particular emphasis on its innovation and sustainability strategy.
Market Growth Drivers:
- Energy Efficiency: As energy efficiency regulations become stricter, building owners and developers are seeking solutions to improve a building’s thermal performance. EIFS offers excellent insulation properties, contributing to energy savings.
- Design Flexibility: EIFS provides a wide range of design options, including various textures, colors, and finishes. This flexibility allows architects and designers to achieve the desired aesthetic appearance.
- Weather Resistance: EIFS systems are designed to withstand various weather conditions, protecting the building from moisture infiltration, wind, and other environmental factors.
- Ease of Installation: EIFS installation is relatively straightforward, which can lead to reduced labor costs and shorter construction timelines compared to traditional masonry or other cladding systems.
- Maintenance and Durability: Properly installed EIFS systems can have a long lifespan with minimal maintenance requirements.
Segmentation of the Global Exterior Insulation and Finish System Market :
- By Type :
- EPS Insulation (PB EIFS)
- XPS Insulation (PM EIFS)
- Mineral Wool
- By Insulation Thickness :
- Standard Thickness (Up to 4 inches)
- High Performance Thickness (>4 inches)
- By End Use :
- Residential
- Commercial
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
Recent Industry News
- Enhanced Durability and Weather Resistance: Recent industry news highlights the development of EIFS with enhanced durability and weather resistance. Manufacturers are incorporating innovative materials and technologies to improve the system’s resilience in various climates and weather conditions. These improvements extend the lifespan of EIFS, making it a more reliable choice for building exteriors.
- Fire-Resistant EIFS: Safety concerns have led to the development of fire-resistant EIFS. These systems incorporate fire-resistant materials and designs to meet stringent building codes and safety standards. The development of fire-resistant EIFS has opened doors to new applications in high-rise buildings and areas with stringent fire safety regulations.
- Advancements in Color and Finish Options: EIFS manufacturers are continuously expanding their color and finish options to cater to evolving design trends. The availability of custom colors and textured finishes allows architects and designers to create unique and visually appealing building exteriors.
- Sustainability and Green Building Certifications: Industry news also highlights the alignment of EIFS with green building and sustainability initiatives. EIFS manufacturers are working to obtain green building certifications, such as LEED, by incorporating sustainable materials and manufacturing practices. This enhances the market’s appeal to environmentally conscious builders and property owners.
- Digital Tools and Design Software: The integration of digital tools and design software is streamlining the EIFS design and installation process. These tools enable architects and contractors to visualize and plan EIFS applications more efficiently, resulting in cost savings and improved project timelines.
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