According to a new report by UnivDatos Market Insights, The Exterior Insulation and Finish System (EIFS) Market was valued at USD 93.5 Billion in 2023 and is expected to grow at a CAGR of 9.5% during the forecast period (2024-2032). This is mainly due to the rising need for energy consumption, increased application of building standards that encourage thermal insulation, and improved consciousness of sustainable construction. Adding to this, the increasing rate of urbanization as well as construction sector development especially in the developing world is also fueling the need. Further, technological improvements in EIFS, including moisture-resistant and fire-retardant systems have compounded product demand in both the residential and commercial classes.

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·        In August 2024, Master Wall Inc.®, a leader in innovative building solutions, announced the launch of its latest product line: SuperiorShield SMP Sealants. This new range of sealants is designed to provide superior protection and durability for both residential and commercial projects. SuperiorShield SMP Sealants feature advanced technology that ensures long-lasting performance, even in the most demanding environments.

·        On 11 March 2022, BASF expanded its portfolio of graphitic expandable polystyrene (EPS) granulate. Neopor® F 5 McycledTM contains 10 percent recycled material and is suitable for numerous applications in buildings, particularly facade insulation. The new raw material is produced using the extrusion process and offers the same proven mechanical properties and optimized insulation performance as Neopor® F 5200 Plus.

According to the report, the impact of Exterior Insulation and Finish System (EIFS) has been identified to be high for the Asia-Pacific area.

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Some of how this impact has been felt include: Asia-Pacific is expected to grow with a significant CAGR during the forecast period (2024-2032). This is due to the high demand for the Asia-Pacific region considering its increasing urbanization rate, growing construction industries in countries like China and India, and increased awareness of the government for energy efficient buildings. According to International Trade Administration estimates, overall investment in new infrastructure during the 14th Five-Year Plan period (2021-2025) will reach roughly 27 trillion yuan (USD 4.2 trillion). The new plan emphasized 9 key items for energy efficiency and green building development; it also calls for retrofitting of over 350 million square meters of buildings and the construction of over 50 million square meters of net zero energy consumption buildings. The increasing population of middle and upper-middle-income earners in the region creates demand for new-age residential and commercial buildings with superior thermal performance. The use of EIFS in Asia-Pacific is made possible by the management of costs and production localization to result in cost-effective solutions. They work with local contractors to gain the base to start in new markets and develop new products to meet specific regional conditions for example high humidity and seismic activities.

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