Exterior Insulation & Finish System Market Overview
Exterior Insulation and Finish System market value were $55.41 billion in 2018, and the market is expected to register a CAGR of 12.34% in the market forecast period.
Exterior Insulation and Finish System Market or EIFS is applicable to any construction. The main benefit of EIFS is that it can provide protection in all weather conditions by providing thermal insulation within the structure. It is a wall covering that allows insulation on the top layer of a wall. Exterior Insulation and Finish System has an organic polymer layer covered with a glass fabric that gives it great strength. It allows the architecture to give any desired shape and allow them to show aesthetic. EIFS protect the exterior wall by covering it with an insulating and weatherproof layer of any colour, shape and finish.
Market Synopsis
The COVID-19 pandemic has disrupted the global supply chain and interrupted the entire value chain, from raw material procurement to manufacturing, packaging, and distribution. With several manufacturers having the required raw material and end-product stock, the impact does not seem high for a short duration. However, if the pandemic prolongs and trade restrictions are extended, the impact is expected to rise.
The global exterior insulation and finish system market is expected to witness moderate growth over the forecast period. The growth of the exterior finish insulation system market is influenced by the increasing FDI in construction, supportive government regulations on building insulations, and supportive government regulations & initiatives to promote construction. Fluctuation in raw material prices and the unavailability of skilled labour hinder the growth of the market.
Segmentation:
Based on thickness:
1 – 3 inches: 1-3 inches thick single coat are recommended thickness of concrete wall plaster, and thick single coat are recommended thickness of ceiling plaster as per the thickness.
3 – 6 inches: 3-6 inches are recommended for ceiling and concrete plastering.
More than 6 inches: More than 6 inches coat are used for external wall plastering and rough surface of brick wall.
Based on type:
Polymer-based: The growing demand for efficient energy use requires effective thermal insulation materials. The most common type of EIFS is the polymer-based (PB) system. This system has a nominally 1/16-inch-thick reinforced base coat that is applied to the insulation before the top coat is applied. The insulation is usually made of closed expanded polystyrene (EPS) and can be glued or mechanically connected to the sheathing.
Polymer-modified: The polymer-modified thermal insulation moldings according to the invention are preferably used as thermal insulation materials in the construction sector, for example for insulating flat roofs or facades or in interior design such as false ceilings or partitions, since they are non-flammable and do not release any harmful gases when heated.
Based on insulation type:
Expanded Polystyrene: Expanded Polystyrene (EPS) is a type of polystyrene foam other than Extruded polystyrene foam, majorly used in insulation of sandwich panels. Basically, EPS is a cellular plastic material, consisting of hollow small, closed cells. The properties of EPS include light weightiness, high durability, and strength. The sandwich panels made of EPS have high load bearing capacity at low weight. These panels are widely used in building and construction industry.
Mineral Wool: Mineral wool is perhaps the best known of the whole range of insulation types. It is widely used in all sectors of industry, transport and building for thermal, acoustic and fire-protection purposes. There is a common misconception that mineral wool is a specific product type – it is not. Mineral wool is a generic name for a range of man-made non-metallic inorganic fibres.
Others: Other insulating materials such as combi panels, plastic foam, phenolic foam, and honeycomb are also available for sandwich panels market.
Based on component:
Adhesives: Adhesive is used to attach the expanded polystyrene board to the main wall. It is a water-based elastomeric coating that uses the latest technology to resist adverse weather conditions, chemical erosion, etc.
Insulation board: Insulation board is used for thermal insulation and is manufactured from general-purpose polystyrene using an extrusion process. The obtained sheets from this process have a closed-cell structure and have no visible air-voids between its cells. Insulation board is often used for thermal insulation worldwide for four decades. It is also one of the cheapest thermal insulation materials.
Base coat: Basecoat is typically the first layer of paint or other coating material that serves as the base on which the top or finishing coat is applied. If a primer coat is required, the basecoat is applied over it. The basecoat type (water-based or solvent-based) depends on the type of top or finishing coat, whether shellac, enamel, lacquer, metal or another type of coating.
Reinforcement: Reinforcement means reinforced insulation that is used for protection against electric shock equivalent to double insulation. The reinforced insulation has two separate levels of protection which provide basic as well as the extra insulation. The insulation provides a physical separation between the solder tracks or joints, cores, windings, etc.
Finish coat: A finish coat is the final layer applied in a coating protection system. A finish coat serves as a feature to improve aesthetics appearances and environmental protection. It is used to improve a material's protection against corrosion by providing greater resistance.
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Based on regions:
North America: Increasing governmental support in the form of initiatives and promotional activities is driving the sales of insulation and finished system products across the region. The increasing need for energy-efficient buildings, growing requirements for new insulation, and building costs are the factors driving the exterior insulation & finish system market in North America.
Europe: Europe has been facing energy problems since decades and as a result has become one of the key consumers of thermal insulators. The increasing level of carbon dioxide at alarming rate, depletion of natural resources, and worsening of climatic situations have forced regions to use eco-friendly methods. This has also accelerated the growth of thermal insulations up to such an extent that a few countries have made it mandatory.
Asia-Pacific: The Asia Pacific exterior insulation & finish system market is anticipated to grow at a significant rate owing to the rising government spending on infrastructure and rapid urbanization across the region. This will also lead to an increased energy consumption due to the increasing demand for eco-friendly building insulation products
Middle East& Africa: The Middle East & Africa has completely different atmospheric conditions compared to European countries. The solution remains the same using thermal insulation to preserve the temperature. The major drivers that accelerate the MEA market for thermal insulators in the coming years are the changing building norms & regulations that will ensure the installation of thermal insulations and finish system, increasing population, and urbanization.
South America: Growth in the South America exterior insulation & finish system market is attributed to the increasing support from governments in terms of multiple supporting activities and initiatives for boosting the market share. The expansion of the commercial infrastructure and the adoption of energy efficient technologies are boosting the demand for building thermal insulations across the region.
Competitive Landscape
The market players are focused on investing in research & development and adopting strategic growth initiatives such as expansion, product launches, agreement, partnership, acquisition, and merger to strengthen their market position and capture a large customer base.
The key players operating in the global external insulation and finish system market include BASF SE (Germany), Saint Gobain SA (France), Wacker Chemie AG (Germany), Sto Se & Co KGAA (Germany), Owen Corning (US), Dryvit Systems Inc (US), Master Wall, Inc. (US), Parex USA, Inc. (Canada), Sika AG (Switzerland), and Durabond Products Limited (Canada). The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have a global reach and diverse product portfolios
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