Exterior Insulation and Finish System (EIFS) Market to Witness Remarkable Growth With Demand, Size, Share, Growth and Forecast 2028

The Exterior Insulation and Finish System (EIFS) market is poised for significant growth, driven by rising demand for energy-efficient and sustainable building solutions. With advancements in technology and increasing construction activities, EIFS is expected to witness widespread adoption across various regions.
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%. The market study includes information on market factors such as the market dynamics, drivers, restraints, challenges, threats, potential growth opportunities, exterior insulation and finish system (EIFS) market trends [https://www.marketsandmarkets.com/Market-Reports/exterior-insulation-finish-system-market-58301028.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=exteriorinsulationfinishsystem], development patterns, financial information, latest technologies, innovations, leading competitors, and regional analysis of the market.

The Exterior insulation and finish system market is experiencing significant growth driven by several factors, including the growing investments in construction industry, stringent regulations on greenhouse gas emissions, and increased focus on energy efficiency of buildings. However, the volatile raw material prices and availability of green insulation alternative material may limit market growth. Despite these restraints, opportunities exist in the market due to favoring policies and regulations. The Exterior insulation and finish system industry also faces the challenge of lack of awareness in the market.

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Exterior Insulation and Finish System (EIFS) Companies

Exterior insulation and finish system is basically a construction material which is an excellent option for the sustainable thermal insulation of external walls or cladding. It is also known as ETICS (external thermal insulation composite system). It is a multi-layered, non-load bearing, lightweight exterior cladding system. In both new building and remodeling projects, ETICS/EIFS lowers energy expenses, fossil fuel usage, and carbon-di-oxide emissions because it prevents heat from escaping through the walls.

Exterior insulation and finish system provide insulation, finishing, and waterproofing the building's external walls and facades. These basically provide a type of artificial wall covering that typically consists of foam, plastic insulation, and a coating. These systems are often installed on a building's exterior walls by utilizing a gypsum board attached by an adhesive solution.

The demand for Exterior insulation and finish system is furnished by global players manufacturing for various end-use sectors. Some of the leading companies involved in the manufacturing of Exterior insulation and finish system are BASF SE (Germany), Saint-Gobain (France), Wacker Chemie AG (Germany), Sto SE & Co. KGaA (Germany), and Owens Corning (United States). These companies, along with other regional companies, cater to the demand for exterior insulation and finish system globally.

BASF SE (Germany) is world's one of the top chemical companies. It is engaged in the production and sales of a wide range of chemicals and intermediate solutions. It operates through six business segments - Chemicals, Materials, Industrial solutions, Surface technologies, Nutrition & Care, and Agricultural solutions. BASF SE operates through 239 production facilities across the globe, and in more than 90 countries through its subsidiaries. While it primarily operates in Europe the company also has an active presence in North America, Asia Pacific, South America, Africa, and the Middle East.

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Saint-Gobain (France) is one of the leaders in the construction and chemical markets. It designs, manufactures, and distributes building and high-performance materials. It manufactures and sells products and solutions that are required in all aspects of day-to-day lives and living spaces. The company is organized into five units: four regional businesses (Northern Europe, Southern Europe and Middle East & Africa, Americas, and Asia Pacific) and a global High-Performance Solutions unit. The company's major brands, i.e., Weber and Adfors are involved in the manufacturing of insulation systems.

Wacker Chemie AG (Germany) is a specialist in the in the production and marketing of chemical products. It operates though the Silicones, Polymers, BioSolutions, Polysilicon, and other segments. Silicones and silicone rubber are included in the Silicones segment and are used in construction materials, chemicals, consumer goods, and energy and electronics applications. Wacker Chemie has 27 production sites in Europe, the Americas, and Asia, and 52 sales offices worldwide.

By Insulation material, EPS accounted for the largest share in 2022

Foam beads are used to create EPS (expanded polystyrene insulation). The beads are directly exposed to heat or steam, which causes them to enlarge and fuse together. EPS is the most popular insulation material used. EPS is an effective insulator with a small amount of raw material since it is made of 98% trapped air and only 2% plastic. EPS provides excellent thermal insulation, acoustic insulation, and offers moisture resistance. It is durable, easy to install and transport and can be manufactured in almost any shape or size. Owing to these properties it dominates the exterior insulation and finish system market.

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By End-Use Industry, Non-residential Segment accounted for the largest share in 2022.

The non-residential buildings can be classified into commercial, institutional & healthcare, and public facilities. In this sector, the demand for exterior insulation and finish system is expected to be driven by increasing spending on making energy efficient office spaces, commercial & institutional spaces. The non- residential units consist of large spaces which require heating or cooling of a large internal area. Thus, the installation of these systems in the non-residential units is cost- effective in the longer run.

Europe accounted for the largest share of the Exterior insulation and finish system market in 2022.

The expansion of the European construction market can be attributed to the rising demand for housing in urban areas, increased infrastructure development activities, and increased modernization and renovation of buildings to improve their energy efficiency. With the region's robust economic growth, commercial infrastructure construction, such as offices, schools, hotels, restaurants, and leisure facilities, is on the rise. Furthermore, the introduction of various favorable initiatives and investments by governments to improve housing infrastructure is supporting the growth of the European construction market. The increasing awareness of energy efficient buildings is also driving the market growth in this region.

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