Emphasis on Type (Polymer Based, Polymer Modified); Insulation Material (Expanded Polystyrene, Mineral Wool, Others); End User (Residential, Non-Residential); and Region/Country
The Exterior Insulation and Finish System (EIFS) Market was valued at approximately USD 93.5 Billion in 2023 and is expected to grow at a substantial CAGR of around 9.5% during the forecast period (2024-2032) owing to Rising awareness of sustainable and recyclable construction materials.
EIFS stands for Exterior Insulation and Finish System, which is an exterior cladding that incorporates an insulation system, cavity, water-resistant, and surface finish in one system design. It normally comprises an insulation board, followed by an adhesive or mechanical fastener, a base coat in which a reinforcing mesh is embedded, and a textured finish coat. EIFS is appreciated for the following features: energy efficiency/unfavorable climate, design freedom, and the absence of thermal breakthrough.
To expand the market of exterior insulation and finish system (EIFS), companies largely aim to invest in new product offerings, higher sustainable efforts as well as higher customization. These customized EIFS solutions are being created to have increased insulating ability and improved moisture control and fire resistance to cope with today’s demanding building codes and energy specifications. There is an increasing use of environmentally sustainable materials and recycled products as part of adopting green buildings. Companies also utilize digitally supported instruments, including Building Information Modeling (BIM) to enhance the planning of the projects and cooperation.
For instance, on 26 August 2022, ATLANTA, GA – (TBD) Sto Corp., the innovative world leader in claddings, air barriers, coatings, and restoration systems, introduced updated Building Information Modeling (BIM) assets for all Sto color collections. Sto is continually expanding and improving its robust offering of BIM assets, which already include models for its StoVentec Rainscreen and StoTherm ci continuous insulation systems, among other fully engineered systems.
This section discusses the key market trends influencing the various segments of the Exterior Insulation and Finish System (EIFS) market as identified by our research experts.
Expanded polystyrene is expected to grow with a significant CAGR during the forecast period (2024-2032). EPS is driving the market because it is cheaper, lighter, and provides better thermal insulation as compared to other materials used in EIFS. Its flexibility in installation as well as better energy performance also addresses growing needs for ecofriendly construction applications. EPS also has a recycling ability and it has contributed to the world's recycling ability. Moreover, companies get involved with EPS-based EIFS by funding R&D to improve fire resistance and moisture management characteristics. They also sell EPS systems as a green building product and use it with advanced finishing technology to expand its usage. For instance, on 11 March 2022, BASF expanded its portfolio of graphitic expandable polystyrene (EPS) granulate. Neopor® F 5 McycledTM contains 10 percent recycled material and is suitable for numerous applications in buildings, particularly facade insulation. The new raw material is produced using the extrusion process and offers the same proven mechanical properties and optimized insulation performance as Neopor® F 5200 Plus.
North America boosts the market of EIFS by the growing construction activities, increased energy conservation standards, and growing concern about green building. Adding to this, the extreme climatic conditions stated as high temperatures in summer and extremely low temperatures in winter also push the need to apply enhanced thermal insulation materials such as EIFS. Also, the extension of existing buildings for accommodation of high energy standards also contributes to the growth of the market. North American companies incorporate EIFS through the provision of products with LEED certifications and other sustainability features. They also fund training programs for contractors to ensure proper installation and develop distribution cooperation for market penetration. Moreover, the use of digital tools such as BIM assists organizations in delivering package solutions to business ventures.
For instance, on March 7, 2024, ROCKWOOL North America announced it had signed an agreement to acquire 250 acres in Walla Walla County, Washington, with the intention to build a state-of-the-art manufacturing facility featuring proprietary electric melting technology for its stone wool insulation products.
The Exterior Insulation and Finish System (EIFS) market is competitive, with several global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Sto Corp.; BASF; Sika AG; Dryvit; Wacker Chemie AG; Dow; Parex USA, Inc.; ADEX SYSTEMS INC; Master Wall®, Inc.; OWENS CORNING.
In August 2024, Master Wall Inc.®, a leader in innovative building solutions, announced the launch of its latest product line: SuperiorShield SMP Sealants. This new range of sealants is designed to provide superior protection and durability for both residential and commercial projects. SuperiorShield SMP Sealants feature advanced technology that ensures long-lasting performance, even in the most demanding environments.
On March 27, 2024, The EIFS Industry Members Association (EIMA) proudly announced the distinguished winners of the 2023 EIFS Architectural Awards. The awards celebrate exceptional projects clad with exterior insulation and finish systems (EIFS), renowned for their superior performance, sustainability, durability, and aesthetic flexibility in building envelope solutions.
Report Attribute | Details |
Base year | 2023 |
Forecast period | 2024-2032 |
Growth momentum | Accelerate at a CAGR of 9.5% |
Market size 2023 | USD 93.5 Billion |
Regional analysis | North America, Europe, Asia-Pacific, Rest of the World |
Major contributing region | Asia-Pacific is expected to grow at the highest CAGR during the forecasted period. |
Key countries covered | U.S., Canada, Germany, France, UK, Spain, Italy, China, Japan, and India |
Companies profiled | Sto Corp.; BASF; Sika AG; Dryvit; Wacker Chemie AG; Dow; Parex USA, Inc.; ADEX SYSTEMS INC; Master Wall®, Inc.; OWENS CORNING. |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Type, By Insulation Material, By End User, By Region/Country |
The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
The report presents a quick review of overall industry performance at one glance.
The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
The study comprehensively covers the market across different segments.
Deep dive regional level analysis of the industry.
The global Exterior Insulation and Finish System (EIFS) market can be customized further as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. Global Exterior Insulation And Finish System (Eifs) Market Revenue (USD Bn), 2022-2032F
7. Market Insights By Type
8. Market Insights By Insulation Material
9. Market Insights By End User
10. Market Insights By Region
11. Value Chain Analysis
12. Competitive Landscape
13. Company Profiled
14. Acronyms & Assumption
15. Annexure
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Exterior Insulation and Finish System (EIFS) market were the three major steps undertaken to create and analyze the adoption of Exterior Insulation and Finish System (EIFS) in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Exterior Insulation and Finish System (EIFS) market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Exterior Insulation and Finish System (EIFS) market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Exterior Insulation and Finish System (EIFS) market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, insulation material, end user, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Exterior Insulation and Finish System (EIFS) market. Further, we conducted factor analysis using dependent and independent variables such as Type, Insulation Material, end user, and regions of the Exterior Insulation and Finish System (EIFS) market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Exterior Insulation and Finish System (EIFS) market sector across the globe.
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Exterior Insulation and Finish System (EIFS) market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
The industry’s market size, in terms of revenue (USD) and the adoption rate of the Exterior Insulation and Finish System (EIFS) market across the major markets domestically
All percentage shares, splits, and breakdowns of market segments and sub-segments
Key players in the global Exterior Insulation and Finish System (EIFS) market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Exterior Insulation and Finish System (EIFS) market. Data was split into several segments and sub-segments after studying various parameters and trends in the type, insulation material, end user, and regions of the global Exterior Insulation and Finish System (EIFS) market.
The current & future market trends of the global Exterior Insulation and Finish System (EIFS) market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Analyze the current and forecast market size of the Exterior Insulation and Finish System (EIFS) market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
Segments in the study include areas of type, insulation material, end user, and regions.
Define and analyze the regulatory framework for the Exterior Insulation and Finish System (EIFS)
Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
Analyze the current and forecast market size of the Exterior Insulation and Finish System (EIFS) market for the major region.
Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
Company profiles of the Exterior Insulation and Finish System (EIFS) market and the growth strategies adopted by the market players to sustain the fast-growing market.
Deep dive regional level analysis of the industry
Q1: What is the Exterior Insulation and Finish System (EIFS) market's current size and growth potential?
The Exterior Insulation and Finish System (EIFS) market was valued at USD 93.5 Billion in 2023 and is expected to grow at a CAGR of 9.5% during the forecast period (2024-2032).
Q2: What are the driving factors for the growth of the Exterior Insulation and Finish System (EIFS) market?
The increasing demand for energy-efficient building solutions and rising adoption of green building practices and certifications, growth in residential and commercial construction activities, and technological advancements in EIFS, including fire resistance and moisture management drive the Exterior Insulation and Finish System (EIFS) market.
Q3: Which segment has the largest share of the Exterior Insulation and Finish System (EIFS) market by Type?
Polymer Based has the largest share of the Exterior Insulation and Finish System (EIFS) market by Type.
Q4: What are the major trends in the Exterior Insulation and Finish System (EIFS) market?
The adoption of Building Information Modeling (BIM) for efficient project planning with EIFS, and increasing use of prefabricated EIFS panels to reduce installation time is the major trend in the Exterior Insulation and Finish System (EIFS) market.
Q5: Which region will dominate the Exterior Insulation and Finish System (EIFS) market?
North America dominated the market in 2023.
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