External wall insulation boards are materials used for constructing external walls of residential and commercial buildings. They provide protection from external conditions such as heat, cold and rain. They improve energy efficiency and reduce heating and cooling costs. The boards also enhance aesthetic appeal and provide protection from fire.

The global External Wall Insulation Board Market is estimated to be valued at US$ 8.46 Billion 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 key trends:
The growing construction industry globally is expected to be a major driver for the external wall insulation board market during the forecast period. According to estimates, the global construction industry is projected to grow at a CAGR of 4% between 2023-2027. Rising urban population, improvement in economic conditions and increasing consumer spending on housing and infrastructure are fueling growth of the construction sector. Growing construction activities will thus augment demand for external wall insulation boards from the building and construction industry over the next few years. Advantages such as energy efficiency, fire protection and aesthetics offered by external wall insulation boards are encouraging builders and homeowners to opt for these products.

Segment Analysis
The global external wall insulation board market is dominated by expanded polystyrene (EPS) boards segment. EPS boards are lightweight and have high insulation and durability properties, which make them suitable for various climatic conditions. They are also resistant to fire, rodents and insects. Moreover, EPS boards are easy to cut and install which reduces installation time and cost.

Key Takeaways
Global External Wall Insulation Board Market Size is expected to witness high growth over the forecast period. The market size is projected to reach US$ 8.46 Bn  by 2023 expanding at a CAGR of 5.4% between 2023 and 2030.

Regional analysis
Europe dominates the global external wall insulation board market and is expected to retain its position over the next few years. Countries like Germany, UK and France are major markets in Europe. Growing construction activities and stringent energy efficiency building codes and standards are driving the demand for external wall insulation boards in Europe.

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.

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