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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