The Global Exterior Insulation and Finish System (EIFS) Market is expected to grow from USD 71.22 Bn in 2020 to USD 161.54 Bn by 2027, at a CAGR of 12.5%.
Growing demand for waterproof Exterior Wall Finish System is anticipated to support the market growth during the forecast period. This is based upon wall selection wall flash, water resistive barrier, air barrier, drainage cavity and others. The upcoming construction projects in North America are expected to drive the EIFS demand in the near future. For instance, In Dec 2020, the renovation project “StoTherm ci Lotusan”, at the coastal city of Myrtle Beach, used Exterior Insulation and Finish System (EIFS) that delivers moisture insulation, and long-lasting thermal performance, and durability. The EIFS was used on the 10-building condo project, which covers roughly 250,000 square feet (23,225.8 m2).
Based on component, the adhesives segment is anticipated to hold the largest market share during the forecast period owing to its economical costs. The need of EIFS in bulk creates the demand for larger projects, in which the product can be prefinished and bonded to the building substrate with adhesives, potentially lowering costs and reducing occupant interruption. The cost of any deep energy retrofit solution is a major obstacle to widespread adoption. For instance, Building Science Corporation conducted a cost analysis and baseline engineering on putting extensive layers of exterior rigid foam insulation to wood frame and masonry walls. For instance, In January 2013 report, Fraunhofer CSE- Boston based research institute evaluated costs for different external wall insulation solutions, including vinyl siding over 3-inch extruded polystyrene (XPS) (R-15) and vinyl siding over 5-inch expanded polystyrene (EPS) (R-20) at $13.48/ft2 and $13.92/ft2 respectively. Thus, the use of adhesives in large construction projects is expected to foster the Exterior Insulation and Finish System (EIFS) industry growth.
In terms of geography, Europe is expected to dominate the Exterior Insulation and Finish System (EIFS) market during the forecast period owing to the increase in number of upcoming construction projects. For instance, in September 2020 according to European commission, areas that experienced wetter-than-average conditions were northern Scandinavia, northern and central Spain, central Italy, Greece and a large region, stretching from the eastern Alps north-eastwards up to Poland. This is expected to increase the demand for EIFS in the upcoming projects. For example, the ZAC Campus Grand Parc Mixed-Use Development valued at $7,000m. This includes 80ha of land in Villejuif, Ile-de-France, and the Milanosesto Mixed-Use Complex valued at $6,829m in Italy. The project involves the construction of a 1,400,000m2 mixed-use complex on 70ha of land at Sesto San Giovanni in Milan, Province of Milan, Italy. These projects are anticipated to drive the demand for EIFS during the forecast period.
Key Findings:
The key players operating in the Exterior Insulation and Finish System (EIFS) market are:
Log in / Register