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 launching new and innovative products and expanding their production capacities to cater to the growing demand.

The global demand for external wall insulation boards is growing rapidly due to increasing construction of both residential and non-residential energy efficient green buildings. Various government policies and regulations regarding energy conservation and sustainability are further driving the product adoption.

The market players are expanding their geographical presence through export of products to global markets like Europe, Asia Pacific and Middle East & Africa. Mergers and acquisitions are allowing companies to enhance their regional footprint and customer base.

Market drivers

Stringent energy efficiency standards for buildings laid down by various governments worldwide have accelerated the demand for external wall insulation boards. They provide an economical solution to meet the prescribed thermal insulation values. Rapid growth of construction industry especially in developing regions of Asia and Middle East is another key factor propelling the market growth.

The current geopolitical situation is impacting the growth of the External Wall Insulation Board Market Growth . Rising political tensions and conflicts between countries have disrupted supply chains and made the transportation of raw materials more difficult and expensive. Many countries have also imposed trade restrictions or sanctions on other nations due to political issues, limiting the export and import of insulation board products across borders. This has hindered the market's ability to reach its full potential. Moving forward, companies must diversify their supplier networks across multiple countries and regions to avoid over-reliance on any single source of raw materials. Establishing local manufacturing plants in different global markets through joint ventures or acquisitions can also help insulation board producers insulate themselves from geopolitical risks in their key raw material source countries.

Europe currently accounts for the largest share of the external wall insulation board market in terms of value, estimated at over 30% in 2024. Major European countries driving the widespread use of insulation boards include Germany, France, the United Kingdom, Italy, Poland and Spain. Strict energy efficiency regulations for building insulation and the prevalence of old structures requiring renovation works in colder European climates have propelled the Europe regional market. However, the Asia Pacific region is projected to surge ahead as the fastest growing market during the forecast period. Ascending construction activities to accommodate expanding urban populations along with improving standards of living are powering the Asia Pacific external wall insulation board market led by China, India and other developing nations.

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