External Thermal Insulation Composite System (ETICS) Market 2022 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030

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.

The construction sector is in a vulnerable position when examining the effects of the COVID-19 epidemic. Many building projects, particularly in the early months of the epidemic, were declared as critical industries. The public money used to fund infrastructure improvements, as well as the country's overall economic condition, both threaten to considerably stall the market.

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.

KEY COMPANIES IN EXTERNAL THERMAL INSULATION COMPOSITE SYSTEM MARKET

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 Players