MarketsandMarkets projects that the exterior insulation and finish system (EIFS) market size will grow from USD 60.68 billion in 2018 to USD 108.11 billion by 2023, at a CAGR of 12.24%. The reduction in greenhouse gas emissions and development of green buildings mainly drive the EIFS market growth. In addition, the presence of stringent building energy codes in Europe and North America drives the demand for EIFS.
The key players in the EIFS market include BASF (Germany), Saint-Gobain (France), Wacker Chemie AG (Germany), Sto SE & Co KGaA (Germany), Owen Corning (US), Dryvit Systems Inc. (US), Master Wall, Inc. (US), Parex USA, Inc. (US), and Rmax (US). Other players include Durabond Products Limited (Canada), Durock Alfacinf international (Canada), Adex Systems (Canada), Omega Products International (US), and Terraco Group (UK). These players adopted strategies such as expansions & investments, agreements & contracts, partnership, mergers & acquisitions, and new product & technology launches to strengthen their position, expand their global presence, and increase their share in the market.
BASF is one of the leading companies in the EIFS market. Its product portfolio ranges from chemicals, plastics, performance products, agricultural solutions, and oil & gas to functional and material solutions. The company operates through the following segments: functional materials & solutions, performance products, chemicals, oil & gas, agricultural solutions, and others. BASF offers EIFS solutions through its functional materials & solutions segment. It has maintained its leadership position through its strong distribution network across North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The company continues to expand its capacity by adopting organic strategies such as expansions, investments, and new product launches.
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In June 2018, BASF, one of the world leaders in the manufacturing of construction chemicals, increased the production capacity of Neopor (expandable polystyrene containing graphite) by 40,000 metric tons per year through its two production sites in Ludwigshafen, Germany and Ulsan, Korea. At the Ulsan site in Korea, BASF will switch the plant´s entire 85,000 metric tons capacity from the classic white EPS (expandable polystyrene) Styropor to the improved insulation raw material Neopor (gray EPS), which will help the company to meet the growing demand for the gray material in the Asian market.
In August 2017, BASF becomes the first XPS producer to obtain construction type approvals for extruded foam boards welded in a contactless process. The general technical approvals Z-23.31-2083 and Z-23.33-2084 pertain to Styrodur SQ in inverted roof and perimeter applications. Styrodur is a compression-proof, water-repellent, and rot-proof Styrodur that protects homes from heat, cold, and moisture for a longer period.
Saint-Gobain is one of the leading players in the habitat and construction markets. The company operates in segments such as innovative material, construction products, and building distribution. The company has adopted organic strategies such as expansions & investments and new product developments to expand its global presence. For instance, in April 2018, ADFORS, part of the Saint-Gobain family, launched FibaLath, an innovative fiberglass lath to be used in stucco applications and exterior/interior manufactured stone and brick facades. The unique patented three-dimensional profile of FibaLath is self-furring and attaches the same way as metal lath. It is lightweight and pliable, making it easier and safer to cut and carry as compared to metal lath.
Exterior Insulation and Finish System (EIFS) Market by Product Type (PB, PM), Insulation material (EPS, MW), Component (Adhesive, Insulation board, Base coat, Reinforcement, Finish coat), End-use industry, and Region - Global Forecast to 2023
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