Calcium Silicate Boards Market

Insulating Properties to Pullulate the Calcium Silicate Boards Demand over 2022-2032

The global calcium silicate boards market is set to enjoy a valuation of US$ 851.1 million in 2022 and further expand at a CAGR of 4.2% to reach US$ 1.2 billion by the end of 2032.

Sales of calcium silica boards accounted for nearly 26.6% of the global insulation boards market at the end of 2021. Calcium silicate boards are extensively used in building and construction and a minute share goes to industrial applications.

Report Attributes	Details
Calcium Silicate Boards Market Size (2021A)	US$ 815.4 Million
Insulation Boards Market (Parent)	US$ 3.2 Billion
Estimated Market Value (2022E)	US$ 851.1 Million
Forecasted Market Value (2032F)	US$ 1.2 Billion
Global Market Growth Rate (2022-2032)	4.2% CAGR
North America Market Share (2021)	~25.9%
China Market Share (2022)	~10.8%
Market Share of Top 3 Countries	~19.4%
Key Companies Profiled	A & A Material Corporation BNZ Materials Calderys Calsitherm ETEX Group Guangdong New Element Building Materials Co., Ltd IMS Insulcon Japanese Insulation Co. Ltd Johns Manville Kingtec Materials Laizhou Mingfa Insulating Materials Co. Ltd.

Calcium Silicate Boards Market’s Buoyancy Analysis

Calcium silicate boards are strong, high-temperature resistant boards used for a bundle of industries and building & construction purposes. Calcium silicate boards are classified into three types of boards; low-density, medium-density and high-density boards. Low-density calcium silicate boards are extensively used for industrial purposes to provide insulation. Its utilization could be observed in the form of equipment insulation, pipe insulation, industrial storage room insulation, and others.

• Short Term (2022 Q2 to 2025): Ongoing construction activities to positively impact calcium silicate boards market growth.
• Medium Term (2025-2028): Asia Pacific and Europe are anticipated to witness high demand for calcium silicate boards on the back of the presence of major construction companies and government regulations.
• Long Term (2028-2032): Expanding steel and petrochemical industry will drive calcium silicate boards demand in the long run.

According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 4.2% CAGR between 2022 and 2032.

Market share analysis of calcium silicate boards based on application and region is provided in a nutshell in the above image. Under the regional analysis, Europe dominates market in 2022.

“Growing Insulation Materials Demand to Provide Thrust to CSB Demand”

Calcium silicate is one of the predominantly used insulation materials across industries and residential & commercial sectors. They are used for domestic purposes for insulation of buildings to restore the energy present inside the closed space. Building energy efficiency remains on top priority when it comes to the winter season.

The utilization of boards ensures minimal heat loss to the surroundings. Moreover, insulation is more than one season solution for preserving the optimum temperatures in the closed space.

They are used for fire protection purposes and their installation could be observed in industries and buildings and construction. Fire generated in a closed space amounts to 11000C. At this point, only a few insulation materials such as CSB remains stable and are being mostly used for fire protection insulation.

Therefore, demand arousal for the market in all seasons is set to provide a thrust the sales over the forecast period.

“Plethora of Application across Various End Use Industries to Increase Sales”

They are utilized as insulation material for equipment and pipe sections. A cascade of demand for calcium silicate from the building and construction sector is set to ensure the long-run stance of calcium silicate boards. Calcium silicate board’s ability to withstand high temperatures has increased the requisite in the petrochemicals industry. Density ranging from 160-210 Kg/m3 is utilized for the petrochemicals industry.

They are surrounded around the equipment to prevent the loss of temperature. Moreover, its utilization could be observed over the batch reactors, and distillation columns where the equipment is subjected to temperatures more than 4000F.

Calcium silicate with high thermal shock resistance, stability, and low thermal conductivity is utilized in aluminum industry. Boards are used for controlling and conveying the flow of aluminum. Few equipment in the aluminum industry are also insulated with it.

“Presence of Bundle of Substitutes to Destabilize CSB Market”

Bundle of substitutes of CSB in the market such as vacuum insulated panels, silica aerogel, polyurethane rigid panel, foil-faced polyisocyanurate, phenolic spray foam, urea-formaldehyde panels, rice hulls, fiberglass fill, and others poses a greater risk to the market.

Threat of substitutes is moderate to high in mid-term forecast period, while in the long-term forecast period threat of substitutes is set to reach a higher point owing to the rapid research and development in the European Union. Maintaining the switching costs by key manufacturer ETEX is another parameter that could hurt the long-term stance of the product is the price. Low prices and a high replacement period of substitutes could shrink the calcium silicate market growth.

A key substitute for calcium silicate is “back-ventilated rainscreen wall system”, one example is StoVentec which is strong, lighter, and easy to cut that makes consumers accessible and adopt the product. In mid-term forecast period, other evolving and developing insulation materials are set to shrink the sales of CSBs.

Presence of low-cost substitutes for the product is set to be the key barrier to the market.

Country-wise Insights

How are Huge Construction Sectors in France Driving Demand for CSB?

There are some of the world’s largest construction companies located in France and there are many startup construction companies that are operating in the country. France is one of the largest contributors to global CSB consumption.

Recent fire protection laws have increased the requirement for thermal insulation systems outside walls. Fire protection near the façade could help save house from burning. Therefore, European nationals are shifting towards adoption of the boards and insulation materials for fire protection.

Growing demand for residential insulation and regulatory support for the same is set to boost the insulation market. Spike in demand for the market in household insulation is expected to grow, owing to the reduction in temperature in European countries.

Over the forecast period, the market in France is estimated to grow at a CAGR of 3.2%.

Why is the China CSB Market Expected to Be Highly Rewarding?

China is home to world’s largest construction companies making it the largest construction market. Over the past few years, China has witnessed an extensive investment in the construction industry. Additionally, the growing steel, petrochemical, and furnace industry are anticipated to further propel the demand in this region.

China is the sixth largest producer and 2nd largest consumer of oil and gas. Insulation materials are needed in the oil and gas industry and there aren't many insulating materials that can absorb flammable liquids and generate a wick. They can withstand temperatures of up to 10000F and are used with fluid inhibitor surface modifications.

The China market is expected to reach a valuation of US$ 57.3 million in 2022.

Category-wise Insights

Why is Pipe Section Dominating the Market?

CSB are known for their portrayal of stable properties despite being subjected to extreme temperatures. The thermal property of the calcium silicate board makes it an excellent candidate for insulating pipes that needs to withstand high temperature.

The use of calcium silicate as an insulating material has increased in industries like petrochemicals, power generation, processing, and others due to pipelines and equipment running at up to 1200°F.

How is steel industry leading to market growth?

Steel industry consumes 10% of the Global energy demand and therefore requisite for thermal insulation products such as calcium silicate boards remain high in these industries. Moreover, they are also used in fire protection in steel industry.

Increasing application of steel across various industries has increased the demand significantly over the years. Moreover, the surged construction activity and growing automotive industry have increased the consumption of steel.

Increasing consciousness among the industrialists to conserve energy is the primer for demand generation. The growing steel industry is anticipated to fuel the market growth.

Eminent Players’ Strategies

Prominent manufacturers are A & A Material Corporation, BNZ Materials, Calderys, Calsitherm, ETEX Group, Guangdong New Element Building Materials Co., Ltd, IMS, Insulcon, Japanese Insulation Co. Ltd, Johns Manville, Kingtec Materials, Laizhou Mingfa Insulating Materials Co. Ltd., Nichias Corp, and others.

Global players operating in the market space are focusing to anchor their presence across highly demanding end-use areas due to frequent demand for the CSB from petrochemical, chemical, and steel industries. Investment towards reducing the cost of the product and collaboration with the consumers to ensure long-run financial stability remains the priorities of firms.

• In May 2022, Ramco industries announced a new manufacturing plant in Tamil Nadu, India that has a production capacity of 11.5 Mn sq. meters for calcium silicate boards and tiles.
• In March 2021, Tenmat launched their new high-temperature board H1000 which has higher strength, good machinability, and can withstand high temperatures.

Fact.MR has provided detailed information about the price points of key manufacturers of calcium silicate boards positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Calcium Silicate Boards Industry Research

• By Board Size :

  • 1000 X 500 mm
  • 1200 x 2500 mm
  • 2400 x 1220 mm
  • Others

• By Application :

  • Climate Boards
  • Pipe Section
  • Equipment Insulation
  • Fire Protection
  • Chimneys

• By End Use :

  • Petrochemical Industry
  • Furnaces
  • Steel Industry
  • Glass Industry
  • Aluminum Industry
  • Cement Industry
  • Marine Industry
  • Building & Construction Industry
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA