PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1402708
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1402708
The external wall insulation board market size is expected to reach US$ 14.9 Mn by 2030 from US$ 8.5 Mn in 2023, exhibiting a compound annualgrowth rate (CAGR) of 8.3% during the forecast period.
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2022 | Market Size in 2023: | US$ 8.5 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 8.30% | 2030 Value Projection: | US$ 14.9 Mn |
External wall insulation boards are crucial components in energy-efficient building designs. These rigid panels which are often made from materials like expanded polystyrene (EPS) or mineral wool are affixed to the exterior of buildings. They enhance thermal performance by reducing heat loss, thus lowering energy consumption, and improving overall comfort. An external wall insulation system (or EWIS) is a thermally insulated, protective, and decorative exterior cladding procedure involving the use of expanded polystyrene, mineral wool, polyurethane foam or phenolic foam, topped off with a reinforced cement based, mineral or synthetic finish and plaster.
The thickness of thermal insulation is dependent on whatever type is required in order to create a partition with a heat transmission factor of U=0.25-0.3 W/m2K. When calculating the actual insulation requirements, consideration must be given to on going building regulation standards. Consideration must also be given to exposure and durability, and whether the structure might be subjected to vandalism and others. In many older properties, special attention is required for concrete beams or lintels which act as thermal bridges providing poor insulation.
External wall insulation systems generally comprise firstly an insulation layer an element which helps to achieve the requisite thermal performance and secondly, a protected weatherproof finish (usually a render, although brick slips, tiles, and decorative boards can also be used). Insulating render can also be an advantage in certain locations. Choice of types and sizes will depend on the substrate and design exposure requirements.
Rising energy costs, growth in construction sector, and lower environmental impact is anticipated to drive growth of the external wall insulation board market over the forecast period. Moreover, government regulations for energy efficiency are also expected to boost the growth of the external wall insulation board market over the forecast period. Emerging new applications, rapid urbanization in developing countries, technology advancements, and supportive government policies are expected to create growth opportunities for the external wall insulation board market during the forecast period.
However, high product and installation costs, low consumer awareness, shortage of skilled labor, and low penetration in developing markets are expected to hamper growth of the external wall insulation board market over the forecast period.
External Wall Insulation Board Market Detailed Segmentation: