As external wall is constantly exposed to extreme weather conditions, external wall insulation boards provide protection as well as enhance the aesthetic appeal of buildings. These boards are most widely used for insulating residential as well as commercial buildings from heat loss, moisture, fire etc. Made from various raw materials like expanded polystyrene, mineral wool, phenolic, wood wool concrete etc. these boards provide an efficient insulation solution for walls. They significantly reduce energy costs of buildings by preventing heat transfer through walls.

 

The Global External Wall Insulation Board Market is estimated to be valued at US$ 9.75 Bn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2030.

 

Key Takeaways

 

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. These players are focusing on developing innovative and sustainable product offerings to meet evolving construction needs.

 

The rising construction activities across both residential and non-residential sectors are fueling the demand for external wall insulation boards globally. Rapid urbanization and increasing spending on infrastructure development are some of the major factors driving the growth of construction industry.

 

Technological advancements in terms of material composition and production processes have enhanced the performance as well as durability of external wall insulation boards. Many manufactures are introducing bio-based insulation boards made from renewable materials like hemp, flax etc.

 

Market Trends

 

Green building movement is gaining significant traction worldwide owing to sustainability concerns. Many countries are introducing stringent norms and regulations and providing incentives for green certified constructions. This is expected to boost the adoption of external wall insulation boards as they aid in reducing carbon footprint and energy consumption of buildings.

 

Manufacturers are focusing on light-weighting insulation boards by using optimized material composition. Light weight boards facilitate ease of installation particularly for large residential and commercial buildings.

 

Market Opportunities

 

Rising retrofitting activities of old buildings and infrastructure is opening promising growth avenues for external wall insulation board market. As retrofitting helps in improving energy efficiency of aged buildings significantly, the demand for insulation solutions is surging.

 

Growing construction of cold storage facilities globally is another major opportunity area. Since cold storages experience extreme temperature fluctuations, external wall insulation plays a vital role in maintaining uniform temperatures inside.

 

Impact of COVID-19 on External Wall Insulation Board Market

The COVID-19 pandemic has impacted the growth of External Wall Insulation Board Market Size . During the lockdowns imposed across various countries to curb the spread of the virus, the construction activities were halted which adversely affected the demand for external wall insulation boards. With work from home policies in place, migration of labor from construction sites led to shortage of manpower. This further disrupted the supply chain and production of external wall insulation boards.

 

However, post lockdowns and relaxation of rules, the construction sector has slowly started recovering. Many countries are providing incentives and subsidies for construction and infra projects to boost the economy. This is again driving the demand for external wall insulation boards. Also, with rising environmental concerns, focus on energy efficient buildings is increasing. This is promoting the use of insulation materials like external wall insulation boards for new construction as well as renovation projects. Manufacturers are witnessing rise in orders and working on fulfilling the backlog. They are also increasing production capacity to cater to growing demand in coming years. Various technological advancements are also being made to develop innovative and sustainable insulation board products.

 

Value Concentration in Europe

Europe accounts for the major share of external wall insulation board market in terms of value. Countries like Germany, UK, France, Italy, Spain etc are the key markets. Growing awareness about energy efficiency, strict regulations regarding carbon emissions from buildings, and incentives for retrofitting existing structures are major drivers for external wall insulation board demand in the region. Major insulation board manufacturers have their presence across European countries to cater growing requirement. Renovation of aging infrastructure and commercial buildings offer huge opportunities.

 

Fastest Growing Region - Asia Pacific

Asia Pacific region is expected to witness fastest growth in external wall insulation board market during the forecast period. Rising construction activities to meet infrastructure needs of developing economies like India, China, Indonesia etc and rapid urbanization are fueling the insulation boards sales. Also, implementation of new energy codes for commercial buildings and focus on reducing carbon footprint will further boost the APAC external wall insulation board market in coming years.

 

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