Exterior Insulation and Finish System (EIFS) Market by Product Type (PB and PM), Insulation Material (EPS and MW), and Component (Adhesive, Base Coat, Insulation Board, Finish Coat, and Reinforcement), and End User (Residential and Non-residential): Global Opportunity Analysis and Industry Forecast, 2020–2027
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Exterior insulation and finishing system (EIFS) is a protecting, insulating, and decorative finish system for exterior or outer walls, which can be fixed on any desired type of construction. EIFS gives architects liberty to design flexibly and aesthetically showing their creativity and also by meeting new energy codes.It is the exterior wall covering that provides weather protection and insulation in any desired texture, color, and shape, which canreplicate any architectural design or finish material as an architectural finish.In International Building Code and ASTM International, EIFS is known as a non-load bearing wall cladding system that uses insulation boards fixedeither mechanically or adhesively, or by both methods, to the surface, an integrally reinforced base coat, and to provide a protective finish coaton the exterior of the walls. EIFS uses natural polymeric completions strengthened with glass work.
EIFS installation is technically a challenge. Inexperienced laborers and a fast construction process can compromise the quality of EIFS. This can lead to holes, cracks or leaks in EIFS. But if installed correctly can make the building or structure can save up to 20% to 30% on energy bills as stated by the Oak Ridge National Laboratory. The EIFS can cost more initially while installing but it helps in increasing the energy efficiency of the residential and non-residential buildings. Hence, EIFS is preferred in the long run. However, EIFS costs less compared to traditional insulation material. It does not use the interior area of the wall as it is installed on the outside. Itcan be very effective if used for both recladding applications as well as new constructions, as an efficient wall covering.
Polymer-based (PB) is expectedto be the fastest growing product type in EIFS market. PB provideshigh thermal insulation, which is comparatively cost effective. PB generally contains closed expanded polystyrene (EPS) and can be mechanically or adhesively fixed to the protective covering. PB External Insulation and Finish System can include multiple layers of base coat and reinforcing mesh to accomplish higher impact resistance. InPolymer-Modified (PM) EIFS, reinforcing mesh is mechanically fixed to the extruded polystyrene insulation, on which a thick, cement base coat is applied, expanded polystyrene (EPS) is predicted to be the fastest growing insulating material over a period. EPS has extremely low thermal conductivity due to its closed cell structure, which consists of almost 98% of air. Also, it is non-hygroscopic and does not easily absorb moisture from the atmosphere. Adhesive segment dominated most of the EIFS market share in last three years, which was followed by reinforcements and insulation boards. The adhesive materials allow joint substances like glass, metal, ceramics, and plastic with various sizes, compositions, and geometries. The adhesives remove the possibility of corrosion associated with unlike metals joining with different galvanic potential like joining of steel and aluminum. EIFS is used in both, residential and non-residential construction market, which provides thermal insulation and water resistance to the buildings.
EIFS has a very large market share of residential and non-residential construction industry. Residential buildings like bungalows and apartments and non-residential buildings like schools, hospitals, industrial work spaces, and offices are the major end users of EIFS. Trend shows that the market share of EIFS has rapidly increased for non-residential construction industry in the past couple of years and is expected tosurge in the coming years. By region, Europe is the largest market and is expected to continue to dominate the EIFS market in future. However, the MiddleEast and Africaare expected to grow at a fastest rate during the forecast period.
The growing emphasis on the reduction of greenhouse gases has led to the growth of the EIFS market over the last few years. Also, focus on energy efficient solution in the construction industry is the driving factor of the EIFS market. Availability of the green insulation material made of a mixture of hemp fibers and cement-like binder known as Hemp Crete. This is the major restraint for the growth of the EIFS market. However, increased energy efficiency of the buildings followed by low operating cost due to EIFS is a major factor which leads toward the growth of the EIFS market. Rise in number of standards in building code, increase in in population, and surge in per capita income of the people are expected to drive the growth of the EIFS market. In addition, continuous improvement in the government budgets for the construction of residential and non-residential industry are the major opportunities in the growth of the market. Further, increase in demand for thermal insulation in residential and non-residential construction industry alongwith surge in adoption of green building standards and rebates and tax credit policies for EIFS is another leading opportunity for the growth of the market in near future.
The global exterior insulation and finish (EIFS) market is segmented into product type, insulation material, component, end user, and region. By product type, it is differentiated by polymer-based (PB) and polymer-modified (PM). By insulation material, it is categorized into expanded polystyrene (EPS) and mineralwood (MW). By component, it is classified into adhesive, base coat, insulation board, finish coat, and reinforcement. By end user, it is differentiated into, residential and non-residential. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players in the global exterior insulation and finish (EIFS) market are Saint-Gobain (France), BASF (Germany), Sto SE & Co KGaA (Germany), WackerChemie AG (Germany), Dryvit Systems, Inc. (U.S.), Owens Corning (U.S.), Parex USA, Inc. (U.S.), Rmax (U.S.), Masterwall (U.S.) and Durabond Products Limited (Canada). Other companies in this market also include DurockAlfacing International Limited (Canada), Adex Systems Inc. (Canada), Omega Products International (U.S.), and Terraco (UK).
Key Benefits
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The study provides an in-depth analysis of the current & future trends of the global exterior insulation and finish system (EIFS) market to elucidate imminent investment pockets.
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Information about key drivers, restraints, opportunities, and their impact analysis on the market has been provided.
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Porter’s five forces analysis illustrates the potency of buyers & suppliers that operate in the industry.
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The quantitative analysis of the global exterior insulation and finish system (EIFS) market from 2020 to 2027 has been provided to determine the market potential.
Key Market Segments
By Product Type
- Polymer-based(PB)
- Polymer-modified(PM)
By Insulation Material
- Expanded Polystyrene (EPS)
- Mineral Wood (MW)
By Component
- Adhesive
- Base Coat
- Insulation Board
- Finish Coat
- Reinforcement
By End User
- Residential
- Non-residential
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- The Middle East
- Africa
Key Market Players
- Saint-Gobain (France)
- BASF (Germany)
- Sto SE & Co KGaA (Germany)
- WackerChemie AG (Germany)
- Dryvit Systems, Inc. (U.S.)
- Owens Corning (U.S.)
- Parex USA, Inc. (U.S.)
- Rmax (U.S.)
- Masterwall (U.S.)
- Durabond Products Limited (Canada)
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