by External wall insulation (EWI) boards are rigid insulation materials used to retrofit or insulate the exterior walls of existing buildings. EWI boards improve energy efficiency and promote cost savings for building owners and operators by reducing heat transfer through walls. Being lightweight and easy to install, EWI systems provide an effective solution for insulation upgrading without significant structural alterations. The global EWI board market is characterized by various product types including expanded polystyrene, mineral wool, and polyurethane rigid foam insulation boards that are suited for diverse climatic conditions. Insulating existing masonry, wood-framed or steel-framed walls can minimize thermal bridging and air infiltration.
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 key trends:
One of the major trends in the external wall insulation board market is the rising focus on green building projects globally. Green buildings utilize materials and methods that are environmentally responsible and resource-efficient throughout their lifecycles. EWI boards made from recycled materials like mineral wool have better insulating properties and help reduce building energy consumption. Various government subsidies and rebate programs promote the use of green building practices, thus driving the demand for EWI boards. Another key trend is the availability of intelligent EWI systems that incorporate integrated features. For example, some boards have added functionality like moisture detection sensors and self-healing cracks to enhance durability and reduce maintenance needs over the long run.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the external wall insulation board market is moderate. New players need to have significant capital investments for production facilities, marketing and distribution channels.
Bargaining power of buyers: The bargaining power of buyers in the external wall insulation board market is high. Buyers have several options available in the market and look for competitive pricing and quality assurance.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Key raw materials for external wall insulation boards include cement, gypsum, and additives which have numerous suppliers globally.
Threat of new substitutes: The threat of substitutes is moderate. Alternatives include internal wall insulation boards however external wall insulation boards offer better insulation and durability.
Competitive rivalry: The competitive rivalry in the market is high. Key players compete on factors such as pricing, innovation, quality, and service.
Key Takeaways
The Global External Wall Insulation Board Market Size is expected to witness high growth. Factors such as improving construction activities, growing residential sector, and increasing awareness about energy efficiency are expected to drive the market. 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.
Europe currently dominates the external wall insulation board market owing to stringent building codes regarding energy efficiency in the region. Countries like Germany, UK, and France are major markets. Asia Pacific is expected to be the fastest growing region supported by rapid urbanization and infrastructure development in China and India.
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. Key players focus on new product launches, partnerships, and expansions to strengthen their position in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
