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The global market size of external thermal
insulation composite system is predicted to grow at the CAGR of 4.0% in the
forecasted period. The external thermal insulation composite system (ETICS) is
the best option for energy-efficient and long-term thermal insulation of
exterior walls and cladding in both new and renovated buildings. ETICS made of
all minerals possessing the non-flammable properties minimizes the occurrence
of toxic gases or smoke in the event of fire. The mineral raw components are,
in fact, fire-retardant. Furthermore, the components of an ETIC sheet prevent
algae and fungi from growing on the facade.
Because the ETIC system is totally
vapor-permeable, it rapidly eliminates water, which is required for the growth
of algae and fungi, preventing the growth of algae on the facade insulation.
Thermal insulation systems keep the temperature of the perimeter walls at lower
levels, providing active thermal mass that enhances the building's thermal
inertia. Thermal insulation not only reduces heat dispersion, but it also
improves the performance of the wall throughout the seasons. Most of the
external thermal insulation composite systems resigns from the usage of harmful
biocides and toxins.
GROWTH DRIVERS
The emphasis on controlling global warming by
governments and other international organizations has implicated the
applications of external thermal insulation composite system in a broader way.
Global warming at unsustainable rates has increased the need for individuals to
take greater responsibility for decreasing carbon footprints. Several
governments have established reduction targets for carbon emissions in attempt
to slow the rate of carbon emissions. Furthermore, these policies have
compelled end-user industries to seek any and all carbon-reduction strategies
at their disposal. Greenhouse gas emissions from businesses and homes, for
example, are mostly caused by the use of fossil fuels for heating, the use of
specific greenhouse gas-containing objects, and the disposal of rubbish.
Due to a significant increase in the middle-class
population and urbanization in both developed and emerging countries, demand
for modern residential heating and cooling services has increased. As a result,
demand for energy and insulation has increased dramatically.
Energy markets have an impact on the need for
external thermal insulation. Increased energy shortage, expense, and pressure
to reduce global warming caused by fossil fuels are the main factors driving
the usage of external thermal insulation. Knowledge and technology have
significantly reduced the amount of energy consumed by the end usages today by
applying higher insulation and increasing the level of comfort.
One of the most restraining factors at present for
the respective market is proved to be the inaccessibility of green insulation
material that affects the production itself. With the progression of time and
betterment of technology, the said issue will have a scope to be resolved.
Moreover, the awareness on external thermal
insulation composite system is still limited that hinders the growth of the
respective sector.
EXTERNAL
THERMAL INSULATION COMPOSITE SYSTEM MARKET SEGMENTATION
By Component
·
Insulation Board
·
Adhesive
·
Mechanical Fastener
·
Reinforcing Mesh
·
Basecoat
·
Finish Coat
·
Others
By End Use
·
Residential
·
Non-Residential
o
Commercial
o
Industrial
By Region
·
North America
·
Europe
·
Asia Pacific (APAC)
·
Latin America
·
Middle East & Africa
REGIONAL
OUTLOOK
A large increase in consumer knowledge of energy
saving, along with an expanding carbon footprint across Asia Pacific and the
Middle East, will boost product penetration. Consumers are emphasizing on the
sustainable development of building construction, which will increase
product demand. Thermal insulation in buildings can substantially reduce fossil
fuel usage, resulting in a reduction in the negative effects on the climate and
environment. Green building construction projects will expand over the world as
a result of low maintenance and minimal operational expenses combined with
great energy efficiency.
Green building rating systems, such as Building
Research Establishment Environment Assessment Methodology (BREEAM) in the
United Kingdom and Leadership in Energy and Environmental Design (LEED) in the
United States and Canada, among others, are also contributing to the increased
construction of green buildings. As a result, an increase in green construction
initiatives is predicted to boost global demand for building thermal
insulation.
External
Thermal Insulation Composite System Market Key Challenges:
The primary challenges associated with ETICS adoption is the
relatively higher upfront cost of materials and installation, and skilled
labor. While these systems has the ability to create long term energy savings,
the initial investment are more likely to discourage adoption, especially in
residential and commercial projects, where budgets are tight.
External
Thermal Insulation Composite System Market Competitive Landscape:
The global low-cost carrier market is characterized by
mix of global and emerging players, each striving to enhance their market
presence through various strategies such as product
innovation and advanced material development, focus on sustainable and
eco-friendly solutions, expansion into renovation and retrofit projects,
geographic expansion and market penetration, strategic partnerships and
industry collaborations, strengthening distribution networks, technical support
and installer training programs, mergers, acquisitions, and portfolio
expansion, compliance and certification leadership, digitalization and smart
construction integration, and competitive pricing and value-based solutions.
Manufacturers are continuously investing in research and
development to enhance the thermal behavior, longer life, fire resistance and
overall weather protection in ETICS solutions. The creation of improved
insulation materials and high-performance coating systems allow companies to
meet changing building requirements while also differentiating their product
offerings.
External
Thermal Insulation Composite System Market Global Key Players:
The research report offers a competitive analysis
of prominent companies operating in the global external thermal insulation
composite system market. Some of the leading players profiled in the market
research report include:
·
Nippon Paint Holdings
·
Rockwool
·
Baumit
·
Wacker Chemie
·
Multipor
·
BASF Neopor
·
Styropan
·
Berger Paints India Ltd.
·
URSA Insulation
·
Sika AG
· Other Key & Niche Players
