External Wall Insulation Board Market is Estimated to Witness High Growth Owing
to Rising Adoption of Green Building Materials



External wall insulation boards are energy efficient insulation materials used
on exterior walls of residential and commercial buildings. They effectively
insulate buildings from heat loss and gain by trapping air between the
insulation material and wall surface. The boards are made of materials like
expanded polystyrene, mineral wool, phenolic foam etc. and are applied as
complementary layers on external walls. They offer benefits of reduced energy
costs, comfortable indoor environment, protection from moisture and contribute
to lower carbon footprint.

The global
external wall insulation board market is estimated to be valued at US$ 8.46 Bn  in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.



Market Dynamics:

Rising adoption of green building materials to reduce environmental impact of
construction sector is the major driver of external wall insulation board
market growth. Furthermore, stringent energy efficiency regulations worldwide
toward reducing space heating and cooling energy consumption is also propelling
the demand for these insulation boards. For instance, the European Union Energy
Performance of Buildings Directive mandates all new buildings to be nearly
zero-energy buildings by end of 2020. Additionally, growing awareness about
long term savings on energy bills through superior insulation of walls is
another factor fueling uptake of external wall insulation boards.



SWOT Analysis

Strength: External wall insulation board help to insulate the building envelope
and reduce energy consumption. It helps improve thermal comfort inside
buildings. These boards have moisture resistance which helps protect walls from
dampness. Their installation is also easy and cost-effective.

Weakness: Although these boards are durable, heavy impact or damage can
compromise their insulation properties. Moisture trapped between existing walls
and new insulation can also degrade insulation over time. Traditional
construction methods may require more adaption for their installation.

Opportunity: Growing focus on energy efficiency and reducing carbon emissions
is driving the demand for better insulated buildings. Various government
incentives and regulations favoring green buildings offer opportunities.
Renovation of old buildings provides a steady market.

Threats: Stagnant construction spending during economic downturns can impact
sales. Volatility in raw material prices like polymers and cement pose risks.
Substitutes like cavity wall insulation arealso available.



Key Takeaways



Global
External Wall Insulation Board Market Size is expected to witness high
growth over the forecast period. Energy efficiency regulations are becoming
stringent in various countries which is driving the need for better insulated
buildings. The global external wall insulation board market is estimated to be
valued at US$ 8.46 Bn  in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period
2023 to 2030.

Regional analysis

The Europe region holds over 35% share of the global external wall insulation
board market and is expected grow at a CAGR of around 5% during the forecast
period. Countries like Germany, UK, France, Italy have favorable climatic
conditions necessitating insulation of buildings. Various schemes in these
countries provide subsidies up to 80% of renovation costs if energy-efficient
materials are used. This is fueling adoption of insulation boards for new as
well existing buildings. Asia Pacific is also emerging as a major market with
China, India projected to witness fastest growth. Improving construction
standards and spending is driving the regional market.



Key players

Key players operating in the external wall insulation board market are Etex
Group, Elementia Materials, Everest Industries Limited, James Hardie Industries
PLC, Johns Manville, Knauf Gips KG, Saint-Gobain, BetonWood Srl, Cembrit
Holding A/S, HIL Limited, GAF, and NICHIHA Co. Ltd. Major players are focusing
on expanding their geographical footprint in high growth regions through
partnerships. Innovation in board material and finishes is another active area
to improve thermal and moisture resistance.

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