The According to a market research report, the “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%.
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Exterior insulation and finish system is a non-load bearing external cladding system for buildings. Insulation, water resistance, and a finished surface are all provided by these systems. Exterior insulation and finish system (EIFS) is also known as external thermal insulation cladding system (ETICS) and external wall insulation system (EIWS). These are made up of a system of composite materials and are basically lightweight artificial wall covering. Exterior insulation and finish system is widely used on external walls and facades and help in increasing the energy efficiency of a building.
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The Exterior insulation and finish system market comprises major players such as BASF SE (Germany), Saint-Gobain (France), Wacker Chemie AG (Germany), Sto SE & Co. KGaA (Germany), Owens Corning (United States) and others are covered in the exterior insulation and finish system market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the exterior insulation and finish system market.
Recent Developments in Exterior Insulation and Finish System (EIFS) Market
- In February 2023, The Sto SE & Co. KGaA launched StoGuard
Conformable Membrane, a self-adhering membrane utilized in StoGuard air and water-resistant barrier systems. The novel membrane can be used to seal penetrations, rough apertures, substrate transitions, sheathing joints, dynamic joints, and substrate transitions. - In March 2023, Wacker Chemie AG exhibited three new polymeric binders at the European Coatings Show in Nuremberg, Germany; the binders are intended for use in the creation of tile adhesives and mortars for external insulation and finish systems (EIFS). The VINNAPAS 4419 E, VINNAPAS 8819 E, and VINNAPAS 4449 E generate an unusually creamy consistency when added to dry-mix mortars, making the finished product simpler for customers to process. They also enhance wetting ability and slip resistance.
- In June 2022, The BASF SE Neopor team launched Neopor BMB at the American Institute of Architects (AIA) Conference on Architecture in Chicago, IL. The low-carbon, EPS rigid foam insulation product offers added sustainability benefits in addition to traditional Neopor features.
Neopor BMB’s manufacture results in 60% lesser CO2 emissions than regular foam plastic insulation, and the material’s carbon footprint is 90% lower than that of traditional Neopor. - In January 2022, Owens Corning acquired Natural Polymers, LLC, a Cortland, Illinois-based producer of spray polyurethane foam insulation for building and construction applications. The tested technology from Natural will help the company offer clients a diverse selection of insulating products and long-term, sustainable solutions.
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The Exterior insulation and finish system market has been categorized based on type, such as Polymer-based (PB) and Polymer-modified (PM). The Polymer-based (PB) systems can be applied continuously without the requirement for control joints and are flexible. They use continuous fiberglass fabric as reinforcement in the lamina. The polymer modified systems provide a thicker hard lamina for the protection of the relatively soft insulation board below. The polymer based system dominates the market.
The Exterior insulation and finish system market can be segmented based on different insulation materials. These include EPS (expanded polystyrene), MW (mineral wool), and others. The others include XPS (extruded polystyrene), PU (polyurethane), PF (phenolic foam), WF (wood fibers), and WW (wood wool). Mineral wool insulation is generally made of industrial waste material and also known as rock wool insulation or stone wool insulation. The use of mineral wool insulation in exterior insulation and finish systems has increased largely because it is a bad conductor of heat and fire resistant. This is important when trying to keep a building warmer or cooler than the outside environment. Due to the closed-cell structure and exceptional moisture resistance, XPS is especially well suited for inverted roofs. It has attributes such as durability, moisture resistance, and good elasticity. The EPS segment dominates the exterior insulation and finish system market as it is the most cost efficient.
The Exterior insulation and finish system market is divided into different end-use industries, which include residential and non-residential segments. Exterior insulation and finish system can be used in non-residential constructions like institutions, hospitals, malls, gymnasiums, auditoriums, offices, cinema theaters etc. The growing trend of construction of green buildings to combat global warming and increasing energy costs helps in dominate the growth of the exterior insulation and finish system market in the non -residential segment.
The Exterior insulation and finish system market is segmented on the basis of different components used in these systems. These include adhesives, insulation boards, base coats, reinforcement mesh, and finish coats (renders and paints). The market is also segmented by thickness of the exterior insulation and finish system as 1-2 inches, 3-6 inches and more than 6 inches. The heating load decreases with increasing insulation thickness, which in turn lowers overall heating costs but also increases the insulation and installation costs. Hence deciding optimal thickness plays a significant role in any project.
The Exterior insulation and finish system market is studied in five regions, namely, Europe, North America, the Middle East &Africa, Asia Pacific, and South America. North America is the fastest-growing market globally. The growth in this region is led by the growing focus on energy efficient and green buildings. This region presents a large customer base for construction activities. In Europe, increased constructional activities and stringent regulations to reduce greenhouse gas emissions are expected to drive the demand for Exterior insulation and finish system in this region.
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