Global Exterior Insulation and Finish System Market to expand with a CAGR of 12.24% over 2019-2026

June 16, 2020

As per the report titled ‘Global Exterior Insulation and Finish System Market Size study, by Type (Polymer-based (PB) and Polymer-Modified (PM)), by Insulation Material (Expanded Polystyrene (EPS), Mineral Wool and Others) by Component (Adhesive, Insulation Board, Base Coat, Reinforcement and Finish Coat), by End-use Industries (Residential and Non-residential) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global exterior insulation and finish system market amassed USD 61.57 billion in 2018 and is projected to register 12.24% CAGR through 2026.

Exterior insulation and finish system (EIFS) is a common type of non-load bearing building cladding system used for protecting the frame of the exterior walls using composite materials. Smooth finish, insulation and water resistance of exterior walls along with reduction of greenhouse gas emissions are the key benefits encouraging the use of these systems.

Stringent government regulations regarding greenhouse gas emission mitigation is fueling the growth of global exterior insulation and finish system market. For instance, in March 2007, the European Heads of State agreed upon laws aimed towards reducing GHG emission by 20% from 1990 levels by the year 2020 and 40% by the year 2030. Similarly, in 2009, the U.S. government declared to reduce GHG emissions by 17% by the year 2020 as compared to that of 2005. Such initiatives by several other nations along with introduction of rebates and tax credit by government for adopting sustainable and eco-friendly solutions will proliferate the demand for exterior insulation & finish system. However, lack of awareness about EIFS and availability of green insulation alternatives will hinder the industry growth over the forecast period.

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Based on the type, the market is bifurcated into polymer-based and polymer-modified. Elaborating on the insulation material, the industry is categorized into expanded polystyrene, mineral wool, and others. On the basis of component terrain, worldwide exterior insulation & finish system market is split into adhesive, base coat, insulation board, reinforcement and finish coat. Speaking of the end-use industries, EIFS market is classified into residential and non-residential.

From the geographical front, Europe EIFS market is expected to witness significant gains over the assessment period, owing to rapid increase of residential and non-residential construction activities and growing demand for thermal insulation solutions in the region.

Meanwhile, Asia Pacific EIFS market is slated to record strong growth throughout the forecast duration, due to booming construction industry in emerging economies like India and China.

Key players operating in global exterior insulation and finish system market are Rmax, SFS Group AG, Parex USA, Inc., Master Wall Inc., Dryvit Systems Inc., Owens Corning, Sto SE & Co. KGaA, Wacker Chemie AG, Saint-Gobain, and BASF.

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