EXTERNAL WALL INSULATION BOARD MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

External Wall Insulation Board Market, By Material Type (Mineral Wool, Expanded Polystyrene, Extruded Polystyrene, Polyurethane Foam, Phenolic Foam, and Others), By End-Use Sector (Residential, Commercial, Institutional, and Industrial), By Application (New Construction and Retrofit), By Position (External Thermal Insulation Composite Systems (ETICS) and Internal Thermal Insulation Composite Systems (ITICS)), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

External Wall Insulation Board Market Regional Insights

North America is expected to be the largest market for external wall insulation board market during the forecast period, accounting for over 45% of the market share in 2022. The growth of the market in North America is due to stringent building codes and policies focusing on enhancing energy efficiency of buildings in the region.
The Europe market is expected to be the second-largest market for external wall insulation board market, accounting for over 35% of the market share in 2022. The growth of the market in the region is due to government regulations like the Energy Performance of Buildings Directive, which mandates energy efficiency in buildings.
The Asia Pacific market is expected to be the fastest-growing market for external wall insulation board market, with a CAGR of over 15% during the forecast period. The growth of the market in Asia Pacific is due to rapid urbanization and increasing construction activity, especially in emerging economies.

Figure 1. External Wall Insulation Board Market Share (%), by Region, 2023