The exterior insulation and finish system (EIFS) market valued USD 79.65 billion in 2020 and expected to reach USD 146.05 billion by 2020, at a at CAGR of 9.0 %. Exterior Insulation and Finishing System (EIFS) is an insulating, decorative, and protective finish system for exterior walls that can be installed on any type of construction. It is the only exterior wall covering that insulates and provides weather protection in a selection of shapes, colours, and textures that can replicate almost any architectural style or finish material, or stand by itself as an architectural finish. EIFS is wall cladding that utilizes stiff insulation boards on the outside of a wall and a plaster-like exterior covering. EIFS employs organic polymeric finishes reinforced with glass mesh. EIFS can be effective for both new construction and recladding applications, as an energy-efficient, economical wall covering. After World War II, buildings throughout Germany were damaged and in need of resurfacing. EIFS originated in Germany and came to the U.S. in the late 1960s.
EIFS, if installed properly, makes the building energy efficient. The EIFS costs more initially; however, it pays for itself over time. Structures with EIFS can save between 20% and 30% on energy bills as per the Oak Ridge National Laboratory. Aesthetics and creative freedom are the perks offered by EIFS. Expanded polystyrene (EPS) is a part of the system that can be cut or moulded to create several shapes such as arches, columns, window details, and sculptures. EIFS costs less than traditional insulation materials. It does not encroach upon the interior area, as it is fitted on the outside. EIFS can be installed in extremely hot or cold places that otherwise are unlikely to accommodate construction. EIFS installations are technically challenging. Inexperienced workers plus fast-tracked construction can compromise the quality of EIFS. This could result in leak or holes in EIFS or worse. This is the primary restraining factor for the EIFS market.
The exterior insulation and finish system market is anticipated to grow in the forecast period owing to driving factors such as stringent building energy codes and greenhouse gas emission regulations. Additionally, these systems significantly reduce energy consumption, thereby lowering effective cost. This factor further fuels the growth of the exterior insulation and finish system market. However, demand for green insulation material is a restraining factor for the market growth. Nonetheless, favourable policies and regulations would create growth prospects for the key players active in the exterior insulation and finish system market in the coming years.
The Exterior Insulation and Finishing System (EIFS) market is dominated by key players such as BASF (Germany), Saint-Gobain (France), WackerChemie AG (Germany), Sto SE & Co KGaA (Germany), Owen Corning (U.S.), Dryvit Systems Inc. (U.S.), Master Wall, Inc. (U.S.), Parex USA, Inc. (U.S.), and Rmax (U.S.). Other companies include Durabond Products Limited (Canada), DurockAlfacinf international (Canada), Adex Systems (Canada), Omega Products International (U.S.), and Terraco Group (UK).
Based on regions, the global Exterior Insulation and Finishing System (EIFS) market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Europe is projected to have the largest market share and dominate the Exterior Insulation and Finishing System (EIFS) market. This region offers potential growth opportunities with countries such as Italy and Poland projected to be emerging markets for thermal insulation products such as EIFS. The growth of the Exterior Insulation and Finishing System (EIFS) market in this region is propelled by factors such as the growth of both residential and non-residential construction and increasing demand for thermal insulation. Also, the growing population and economic development are other factors driving the EIFS market. However, the availability of green insulation materials can put brakes on the accelerated growth of the market to some extent.
The markets in MEA and the Asia Pacific will witness a relatively slower growth as compared to the markets in Europe and North America.
EIFS, if installed properly, makes the building energy efficient. The EIFS costs more initially; however, it pays for itself over time. Structures with EIFS can save between 20% and 30% on energy bills as per the Oak Ridge National Laboratory. Aesthetics and creative freedom are the perks offered by EIFS. Expanded polystyrene (EPS) is a part of the system that can be cut or moulded to create several shapes such as arches, columns, window details, and sculptures. EIFS costs less than traditional insulation materials. It does not encroach upon the interior area, as it is fitted on the outside. EIFS can be installed in extremely hot or cold places that otherwise are unlikely to accommodate construction. EIFS installations are technically challenging. Inexperienced workers plus fast-tracked construction can compromise the quality of EIFS. This could result in leak or holes in EIFS or worse. This is the primary restraining factor for the EIFS market.
The exterior insulation and finish system market is anticipated to grow in the forecast period owing to driving factors such as stringent building energy codes and greenhouse gas emission regulations. Additionally, these systems significantly reduce energy consumption, thereby lowering effective cost. This factor further fuels the growth of the exterior insulation and finish system market. However, demand for green insulation material is a restraining factor for the market growth. Nonetheless, favourable policies and regulations would create growth prospects for the key players active in the exterior insulation and finish system market in the coming years.
The Exterior Insulation and Finishing System (EIFS) market is dominated by key players such as BASF (Germany), Saint-Gobain (France), WackerChemie AG (Germany), Sto SE & Co KGaA (Germany), Owen Corning (U.S.), Dryvit Systems Inc. (U.S.), Master Wall, Inc. (U.S.), Parex USA, Inc. (U.S.), and Rmax (U.S.). Other companies include Durabond Products Limited (Canada), DurockAlfacinf international (Canada), Adex Systems (Canada), Omega Products International (U.S.), and Terraco Group (UK).
Based on regions, the global Exterior Insulation and Finishing System (EIFS) market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Europe is projected to have the largest market share and dominate the Exterior Insulation and Finishing System (EIFS) market. This region offers potential growth opportunities with countries such as Italy and Poland projected to be emerging markets for thermal insulation products such as EIFS. The growth of the Exterior Insulation and Finishing System (EIFS) market in this region is propelled by factors such as the growth of both residential and non-residential construction and increasing demand for thermal insulation. Also, the growing population and economic development are other factors driving the EIFS market. However, the availability of green insulation materials can put brakes on the accelerated growth of the market to some extent.
The markets in MEA and the Asia Pacific will witness a relatively slower growth as compared to the markets in Europe and North America.
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