The Exterior Insulation and Finish Systems (EIFS) Market is poised to experience substantial growth, propelled by a notable upswing in construction endeavors and heightened investments in global infrastructure development. This positive trajectory is further reinforced by the growing inclination towards energy-efficient edifices, underscored by an escalating emphasis on environmentally conscious construction methodologies.
According to a comprehensive market survey report by Future Market Insights, the aggregate demand for exterior insulation and finish systems (EIFS) reached a value of US$ 79.8 billion in 2022. Over the subsequent decade, the net sales within the exterior insulation and finish systems (EIFS) market are anticipated to expand at a Compound Annual Growth Rate (CAGR) of 10.2%. Additionally, the research prognosticates that the global EIFS market valuation will ascend from US$ 89.1 billion in 2023 to a noteworthy US$ 235.6 billion by the year 2033.
The heightened sales projections of EIFS are underpinned by the escalating construction undertakings coupled with augmented investments in global infrastructure development. Furthermore, the mounting requisition for energy-efficient architectural structures, coupled with a pronounced emphasis on eco-friendly construction methodologies, is expected to serve as an additional impetus propelling the EIFS market forward.
The prevailing dominance of the EIFS market is particularly evident in developed nations, owing to the widespread acceptance and the presence of well-established industries catering to such products. Nevertheless, the attributes of affordability, ready availability, as well as commendable capabilities in insulation and exterior finishing make EIFS increasingly popular even within emerging economies.
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Key Takeaways:
- Anticipated Expansion of EIFS Demand in the United States: The demand for EIFS in the United States is projected to experience substantial growth, reaching a value of US$ 43.3 billion by the year 2033. This expansion is expected to be driven by a Compound Annual Growth Rate (CAGR) of 10.2%.
- Positive Outlook for the United Kingdom Market: The United Kingdom market for EIFS is poised for growth, with an expected net worth of US$ 9.2 billion by 2033. This expansion is projected to occur at a CAGR of 10.1%.
- Robust Growth Prospects in Asian Markets: The EIFS markets in China, Japan, and South Korea are set to witness significant development, with an average CAGR of 10.1% through the year 2033. Notably, China’s EIFS market is anticipated to lead the Asia Pacific region, reaching an approximate value of US$ 53.6 billion by 2033. Meanwhile, Japan and South Korea’s markets are predicted to achieve values of around US$ 45.2 billion and US$ 15.8 billion, respectively, by the same year.
- Polymer-based EIFS Product Segment Projection: The Polymer-based EIFS product segment is expected to undergo growth at a slightly lower CAGR of 10% from 2023 to 2033.
- Rapid Growth in Polymer-modified EIFS Product Segment: In contrast, the Polymer-modified EIFS product segment is foreseen to experience rapid expansion over the next decade, exhibiting a high growth rate throughout this period.
Competitive Landscape:
- Adex Systems,
- BASF SE,
- Dryvit Systems,
- Durabond Products,
- Durock Alfacing
International are some of the leading EIFS producers operating in the global market. These businesses are leading participants in the EIFS industry while new participants are mainly focused on marketing initiatives to strengthen their positions.
Recent Developments:
An important advancement in the field of EPS rigid foam insulation was the launch of Neopor BMB by the BASF SE in June 2022. Neopor BMB delivered extra sustainability benefits in addition to Neopor’s standard features at the American Institute of Architects, or Conference on Architecture in Chicago, Illinois. This new insulation solution produced 60% fewer CO2 emissions in comparison to standard foam plastic insulation, which is its most important sustainability attribute.
Owens Corning’s acquisition of Natural Polymers, LLC in January 2022 has increased its skills and offering in the insulation sector. The Cortland, Illinois-based Natural Polymers Company specializes in producing spray-applied polyurethane foam insulation for use in construction and building projects. Now Owens Corning provides clients with a wide selection of insulating products and solutions by leveraging the knowledge and technology of Natural Polymers.
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Key Segments Profiled:
By Product Type:
- Polymer Based
- Polymer Modified
By Insulation Material:
- Expanded Polystyrene
- Mineral Wool
- Other Insulation Materials
By End User:
- Residential
- Non-residential
By Region:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia and Pacific Market
- The Middle East and Africa (MEA) Market
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Exterior Insulation and Finish Systems Market@ https://www.globenewswire.com/en/news-release/2023/06/13/2687479/0/en/The-Exterior-Insulation-Finish-Systems-EIFS-Market-is-expected-to-hit-US-235-6-Billion-at-CAGR-of-10-2-by-forecast-period-2033-end-Future-Market-Insights-Inc.html
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