The Exterior Insulation and Finishing System or EIFS is an insulating, decorative, and protective finish system for exterior walls, which can be installed on any type of construction. It is the only exterior wall covering that insulates & provides weather protection in a selection of colors, shapes, and textures that can replicate almost any architectural style & finish substance, or stand by itself as an architectural finish. EIFS is wall cladding, which utilizes stiff insulation boards on the outside of the wall and a plaster-like exterior covering. It employs organic polymeric finishes reinforced using glass mesh. EIFS can be effective for both new construction & recladding applications, as an energy-efficient and economical wall covering.
According to study, “Global Exterior Insulation and Finish System Market to reach USD 155.08 Billion by 2026” the key companies operating in the global exterior insulation and finish system market are BASF, STO SE & Co KGaA, Saint-Gobain, Master Wall Inc., Wacker Chemie AG, Parex Usa, Inc., Owens Corning, SFS Group Ag., Dryvit Systems Inc. and Rmax.
Based on component type, exterior insulation and finish system market is segmented as insulation board, adhesive, base coat, finish coat and reinforcements. Based on type, market is segmented as Polymer-Modified (PM) and Polymer-based (PB). Based on insulation materials, market is segmented as mineral wool, Expanded Polystyrene (EPS) and others. EPS segment is estimated to witness higher growth rate in global market as it has high compressive strength, high insulation value, low weight & cost, and relatively good resistance to water during the forecast period. Therefore, it is used for various applications, such as external facade insulation, sandwich panels, flat roof insulation, external walls insulation, floor insulation, and others. In addition, based on end-use industries, market is segmented as residential and non-residential. Non-residential industries include commercial buildings, industrial buildings and other non-residential buildings.
The exterior insulation and finish system market is driven by presence of stringent building energy codes, followed by reduction in energy consumption & its related cost, stringent regulations to reduce green house gas emission and rebates & tax credits. However, availability of green insulation material and lack of awareness among people regarding EIFS may impact the market. Moreover, increase in policies and regulations are a key opportunity for market.
Based on geography, the European region dominates the global exterior insulation and finish system market owing to rapid growth in residential and non-residential construction activities in the region. Whereas, the Asian-pacific and North-American regions are estimated to witness higher growth rate due to rise in demand for thermal insulation over the forecast period. In upcoming years, it is predicted that future of the global market will be bright as a result of rapid growth in construction activities during the forecast period. The global exterior insulation and finish system market is valued approximately US $61.57 Billion in 2018 and is expected to grow with a growth rate of more than 12.24% over the forecast period 2019 to 2026.
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Ankur Gupta, Head Marketing & Communications