The Exterior Insulation and Finish Systems (EIFS) Market is poised for significant growth, driven by the surge in construction activity and heightened investments in global infrastructure development. This upward trajectory is further bolstered by the increasing preference for energy-efficient structures, underscored by a growing emphasis on environmentally conscious building techniques.
As per the Future Market Insights market survey report, the overall demand for exterior insulation and finish systems (EIFS) in 2022 was US$ 79.8 billion. Over the next 10 years, the net sales of exterior insulation and finish systems (EIFS) market is projected to expand by 10.2% CAGR. Further, FMI predicts the global EIFS market valuation to grow from US$ 89.1 billion in 2023 to US$ 235.6 billion by 2033.
The sales of EIFS are expected to increase as a result of growing construction activity with increased spending on infrastructure development around the world. Moreover, the rising demand for energy-efficient buildings, with an emphasis on environment-friendly building methods is also anticipated to propel the EIFS market further.
The EIFS market’s dominance is especially in developed countries attributed to the widespread acceptance and established industries for such products. However, it is affordable, readily available, and good at insulating and finishing exterior walls, EIFS is also getting quite popular in emerging economies.
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Key Takeaways:
- The demand for EIFS in the United States is anticipated to expand to US$ 43.3 billion by 2033 following a CAGR of 10.2%.
- The net worth of the United Kingdom market is poised to reach US$ 9.2 billion by 2033 expanding at a CAGR of 10.1%.
- The EIFS markets in China, Japan, and South Korea are anticipated to develop significantly by following an average CAGR of 10.1% through 2033. By 2033, China’s market is expected to be worth around US$ 53.6 billion thereby positioning it leading market in the Asia Pacific region. While markets in Japan and South Korea are expected to reach around US$ 45.2 billion and US$ 15.8 billion by 2033 respectively.
- The Polymer-based EIFS product segment is predicted to develop at a somewhat lower CAGR of 10% from 2023 to 2033. On the contrary, the Polymer-modified EIFS product segment is anticipated to increase at a high pace throughout the following ten years.
Competitive Landscape:
Adex Systems, BASF SE, Dryvit Systems, Durabond Products, and 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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About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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