Exterior Insulation and Finish System Market Is Expected to Reach a Valuation of US$ 13.6 Billion by 2033

chemical-industry

a recently published study analyses the external insulation and finish system market. According to Fact.MR, the market value of exterior insulation and finish systems was US$ 3.7 billion in 2023. The market is anticipated to increase by 13.9% between 2023 and 2033, reaching a worth of US$ 13.6 billion by the end of the forecast period.

With a CAGR of around 10.5% from 2023 to 2033, exterior insulation and finish system in EPS Insulation (PB EIFS) is anticipated to be the highest prominent generating kind in the market. The commercial sector’s exterior insulation and finish system market is anticipated to generate the biggest amount of revenue, with a CAGR of over 12.5% from 2023 to 2023.

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Market Players: –

  • BASF SE
  • Sika Corporation
  • Owen Corning
  • Wacker Chemie AG
  • Sto SE & Co KGaA
  • Parex Group
  • Danosa
  • Baumit GmbH
  • Dryvit Systems, Inc.

Competitive Analysis:

Key players in the market include BASF SE, Sika Corporation, Owen Corning, Wacker Chemie AG, Sto SE & Co KGaA, Parex Group, Danosa, Baumit GmbH, Dryvit Systems, Inc., Caparol, Ceresit, Amvic Building System, Saint-Gobain Weber, and Total Wall Systems Inc.

Some of the recent developments in the market are :

  • In May 2023Sika Corporation announced that it acquired MBCC group. With this acquisition Sika expanded its presence throughout the world, broadened its selection of goods and services to cover the entire lifecycle of a building, and accelerated the transition to a more sustainable construction industry.
  • In June 2022BASF SE announced the release of Naopor BMB during the American Institute of Architects (AIA) Conference on Architecture in Chicago, Illinois. The low carbon, EPS rigid foam insulation alternative provides additional sustainability benefits in addition to the regular Neopor features.
  • In September 2021Contemporary Amperex Technology Co., Limited (CATL) and BASF SE have formed a partnership to develop battery material solutions. The collaboration aims to advance CATL’s localization in Europe, develop a sustainable battery supply chain, and assist both companies in achieving their global carbon neutrality goals.
  • In December 2021Sika Corporation unveiled a new technological hub. In addition to establishing a technology hub, SIKA increased the amount of adhesives and sealants it produces in India.
  • In December 2020Wacker Chemie AG was funded US$ 313 million by European Investment Bank (EIB). Wacker Chemie will use the financing to fund its research and development initiatives, with a particular emphasis on its innovation and sustainability strategy.

Market Growth Drivers:

  1. Energy Efficiency: As energy efficiency regulations become stricter, building owners and developers are seeking solutions to improve a building’s thermal performance. EIFS offers excellent insulation properties, contributing to energy savings.
  2. Design Flexibility: EIFS provides a wide range of design options, including various textures, colors, and finishes. This flexibility allows architects and designers to achieve the desired aesthetic appearance.
  3. Weather Resistance: EIFS systems are designed to withstand various weather conditions, protecting the building from moisture infiltration, wind, and other environmental factors.
  4. Ease of Installation: EIFS installation is relatively straightforward, which can lead to reduced labor costs and shorter construction timelines compared to traditional masonry or other cladding systems.
  5. Maintenance and Durability: Properly installed EIFS systems can have a long lifespan with minimal maintenance requirements.

Segmentation of the Global Exterior Insulation and Finish System Market :

  • By Type :
    • EPS Insulation (PB EIFS)
    • XPS Insulation (PM EIFS)
    • Mineral Wool
  • By Insulation Thickness :
    • Standard Thickness (Up to 4 inches)
    • High Performance Thickness (>4 inches)
  • By End Use :
    • Residential
    • Commercial

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
  • EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
  • CIS & Russia
  • Japan
  • Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)

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