The Exterior Insulation And Finish System Market Is Set To Grow At A More Than 11% Rate Due To Rapid Industrialization

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LONDON, Oct. 24, 2022 /PRNewswire/ -- According to the exterior insulation and finish system (EIFS) market report, rapid industrialization is expected to increase the growth of the exterior insulation and finish system market. Industrialization leads to urbanization by creating economic growth and job opportunities that draw people to cities, which creates a high demand for commercial spaces.  An increase in industrialization will lead to investments that support other industries. For example, according to Trading Economics, (the US-based firm provide precise economic data for more than 196 countries) industrial production in India increased 3.2% year-on-year in October 2021, compared to an upwardly revised 3.3% rise in September and forecasts of a higher 4% rise.

The global exterior insulation and finish system market size is expected to grow from $78.20 billion in 2021 to $86.56 billion in 2022 at a compound annual growth rate (CAGR) of 10.70%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The exterior insulation and finish system market growth are expected to reach $132.18 billion in 2026 at a CAGR of 11.16%.

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Media/Digital Facades – A Key Trend In The Exterior Insulation And Finish System Market

The advent of media/digital façades is a key trend gaining popularity in the exterior insulation and finish system market. Media or digital façades are defined as groups of digitally controlled LED nodes that are individually controllable. Digital façades are usually mounted on the exterior part of the building to form an integral architectural vision. Media/Digital façades are used to transform the external architecture of the building into video displays using digital LED nodes.

Asia-Pacific Was The Largest Region In The Exterior Insulation And Finish System Market In 2021

The exterior insulation and finish system market research identifies Asia Pacific as the largest region in the exterior insulation and finish system market and was worth $24.28 billion in 2021. The exterior insulation and finish system market in Asia Pacific is supported by empathetic initiatives for green building projects and by increasing investments in the countries of the region.

Exterior Insulation And Finish System Market Segmentation

The global exterior insulation and finish system market analysis is segmented -

1. By Material: Mineral Wool, Expanded Polystyrene, Others
2. By Application: Residential, Non-Residential
3. By Type: Polymer-Based, Polymer-Modified
4. By Component: Adhesive, Insulation Board, Base Coat, Reinforcement, Finish Coat

See more on the Exterior Insulation And Finish System Market Report

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