Exterior insulation and finish systems (EIFS) accounted for USD 62.09 billion in global sales in 2019 and are expected to reach USD 123.79 billion in total by 2026. A CAGR of 12.31 percent is predicted for the worldwide external insulation and finish system (EIFS) market over the forecast period.
Exterior insulation and finish systems are a collection of non-load bearing wall cladding systems that provide a water-resistant, decorative, insulated, and finished surface to the exterior part of walls. Furthermore, during the 1960s, these techniques were deployed on brick structures in North America and Europe. These EIFS systems have been utilised on houses, grocery stores, flats, office parks, government buildings, commercial units, and condominiums as recently as a few years ago. Insulation Material plaster-like coverings give strong insulation to the wall outside in these systems. The majority of these technologies protect structures from water entry. They are made of both lightweight and synthetic materials.
RMAX, Aliva UK Ltd., BASF Corporation, Parex USA, Inc., Dryvit Systems, Inc., Lafargeholcim Ltd., Sto Corp., Saint-Gobain Weber, and The Dow Chemical Company are some of the major competitors in the exterior insulation and finish systems (EIFS) market. Thermal insulation requirements for non-residential and residential buildings are projected to have a favourable impact on the market. In addition, severe requirements to reduce greenhouse gas emissions and strict building energy regulations are expected to fuel the worldwide external insulation and finish system (EIFS) market expansion over the forecast period. However, the availability of green insulating materials may limit market expansion.
The Middle East & Africa Market To Show Greatest CAGR During The Forecast Period
Europe held the largest proportion of the global external insulation and finish system (EIFS) market in 2018. The improving economic conditions, increasing number of principles in building codes, unrelenting increases in government budgets, positive demographics such as rising per capita income and population, and the burgeoning non-residential and residential industry in Europe can all be attributed to the region’s expansion. Furthermore, the Middle East and Africa are expected to grow at the fastest rate in the next years. The Middle Eastern countries are highly developed in terms of expenditure and per capita income, and construction activity has increased significantly. During the forecast period, the worldwide external insulation and finish system (EIFS) market is expected to be fueled by the growing demand for sophisticated façade systems for building safety as well as energy-efficient green buildings in Middle Eastern and African countries.
Middle East and African market is expected to grow at the fastest rate During 2020-2026
The increase in construction activities in the Middle East and Africa, as well as the implementation of stringent regulations limiting greenhouse gas emissions in the environment, will contribute to the market’s expansion over the forecast timeframe. In addition, the large need for new façade systems, combined with the readily available labour at cheap rates, would propel the expansion of the exterior insulation and finish systems (EIFS) market in the subcontinent throughout the projection period, according to Stratistics Market Research. Over the projection period, the growing demand for thermal insulation in regions like Africa and the Middle East, owing to the hot temperature, would further propel the expansion of the external insulation and finish systems industrial landscape.
Expanded Polystyrene (EPS) and Polymer-based (PB) segments are expected to grow Rapidly
During the next few years, the PB segment is expected to show a bigger CAGR. PB EIFS can add more base coat layers and strengthen mesh to make it more resistant to impact. Further, it uses EPS as an insulation material that is both cheap and good at insulating against heat. In turn, all of these factors are expected to drive the growth of each of the different segments of the market.
The expanded polystyrene (EPS) insulation material market is expected to grow at a very high rate over the next few years. There are a lot of reasons why this segment is growing, such as the low cost of EPS material, better insulation, and more people using exterior wall insulation systems.
Research Methodology of Expanded Polystyrene (EPS) and Polymer-based (PB) segments
The top-down and bottom-up research methods are used to figure out and predict the EIFS market. It was based on the percentage split of EIFS as well as the percentage split of different industries that use EIFS. Allotment and calculations were made after a lot of interviews and research from secondary sources. This report is based on a lot of interviews with important people, like CEOs, VPs, directors, and executives. After coming up with the total market size, the total market was broken down into a number of different segments and subsegments. Triangulation and market breakdown procedures were used to finish market engineering and get the exact numbers for all segments, subsegments, and groups of people.
The goal of the Expanded Polystyrene (EPS) and Polymer-based (PB) report is to look into the different parts of the manufacturing process and the people who use EIFS. There are a lot of different types of Expanded Polystyrene (EPS) and Polymer-based (PB) out there, and this study wants to find out more about them. It will look at the market by type of Expanded Polystyrene (EPS) and Polymer-based (PB), insulation material, component, and use. Another goal is to give more detailed information about the main factors that are making the market grow (drivers, restraints, opportunities, and industry-specific challenges). It also wants to look at how each segment grows, what the future holds, and how each segment contributes to the whole market.
The study also looks at the opportunities for people who want to be in the market and gives information about the competition for the market leaders. People who are important to the study are profiled and their core competencies are thoroughly analysed. As a final part of the study, it tracks and analyses competitive developments in the market for Expanded Polystyrene (EPS) and Polymer-based (PB). This includes things like partnerships, joint ventures, mergers & acquisitions, expansions, new product development, and research and development in the market.