Calcium Silicate Boards Market Report By Board Size (1000 X 500 mm Calcium Silicate Boards, 1200 x 2500 mm Calcium Silicate Boards, 2400 x 1220 mm Calcium Silicate Boards), By Application, By End Use - Regional Forecast 2021-2031

Calcium Silicate Boards Market Outlook

Global calcium silicate boards market valuation is anticipated to increase at a CAGR 3.6% over the forecast period of 2021 to 2031. The market was valued at US$ 1.68 Bn in 2020, which amounted to approx. 20% share of the overall insulation board market, as per the latest study by Fact.MR, a market research and competitive intelligence provider.

Growth of the calcium silicate boards market is attributed to surge in insulation requirements from industries such as petrochemicals and chemicals, which capture the requisite demand of nearly 25% of the market. 

Apart from their application in petrochemicals and chemical industry, steel & glass industries also have a prime impact on market growth, owing to rise in consciousness towards energy conservation across the globe.

These aforementioned factors are set to provide impetus to calcium silicate insulation board consumption in the medium- and long-run forecast period.

The industry research performed by Fact.MR delves on key insights such as current and speculative production capacity, capacity utilization rates of each producer, current and speculative pricing, price optimization strategy across the value chain, and techno-economic analysis of calcium silicate board.

Demand Analysis of Calcium Silicate Boards from 2016 to 2020 Vs Market Outlook for 2021 to 2031

The global market for calcium silicate boards witnessed a growth rate of 2.8% over the historical period of 2016 to 2020, and was valued at US$ 1.68 Bn in 2020.

Calcium silicate boards can be drilled and machined through various processes. Due to their exceptional properties, these non-asbestos boards are among the most prominent materials used in construction activities.

The market has evolved significantly in recent years on the back of increasing investments in new technologies to overcome performance and quality issues associated with manufacturing. Leading manufacturers are focusing on testing in-depth new technologies and launching of products in the target market, thereby capitalizing on the burgeoning demand.

Moreover, increased adoption of large-size calcium silicate boards has resulted in a rise in overall demand across diverse end-use industries. Based on the aforementioned factors, the market is anticipated to expand at a CAGR of 3.6% through 2031.

Below points summarize the market over the long-run forecast period:

• Calcium silicate boards in the building and construction industry hold a prominent market share, and demand is anticipated to rise at a CAGR of 4.6% during the forecast period

• The Europe calcium silicate boards market accounted for a majority of global consumption. The regional market expanded at a CAGR of 3.1% over 2016-2020.
• Demand for calcium silicate boards in the steel industry is anticipated to grow at a significant pace over the forecast period.

What are the Prominent Driving Factors for the Demand for Calcium Silicate Boards?

There is significant consumption of calcium silicate boards in petrochemical and steel industries, especially from pipe section, equipment insulation, and refractories. Escalating demand can be attributed to rise in manufacturer consciousness to reduce overall production costs across energy-intensive industries.

Energy conservation and rise in fuel prices have provided a thrust to the demand for insulation materials such as calcium silicate boards and asbestos-free thermal insulation boards, among other calcium silicate board uses. Industries such as building and construction are losing their stance in the market, owing to the evolution of low-cost and reliable substitutes. Novel business avenues such as petrochemicals and steel are set to provide rapid growth to the calcium silicate boards market in the long run.

Country-wise Analysis

Why is China a Prominent Market for Calcium Silicate Boards?

China is the world's largest construction market. Growing disposable income along with supportive government policies regarding residential, commercial, and industrial construction are some of the factors responsible for extensive growth of the construction industry in the country.

In the year 2020, the Chinese construction industry was valued over US$ 1,049 Bn. Over the past half-decade, the construction industry in China has been witnessing extensive investments.

Not only construction but the country is also the largest steel producer. A huge amount of steel is produced and consumed in China. Owing to the extensive construction and steel industry and its continuous growth, demand for calcium silicate boards in China is always high.

Why is the Calcium Silicate Boards Market in France Anticipated to Grow at a Much Faster Rate than the Global Average?

France is the home to many of the world's leading construction companies. Besides, the country has a high number of start-up companies operating in the construction industry. Over 265,452 start-up companies are operating in France, which is the highest in number in comparison with the global perspective.

VINCI and Bouygues are among the largest construction companies located in France with a net worth of over US$ 55.6 Bn and US$ 41.14 Bn, respectively. 

The country is one the largest contributors to global calcium silicate board consumption due to the vast construction industry. Over the period of 2016-2020, the market in France expanded at a CAGR of 3.8%, and is anticipated to rise at a CAGR of 4.7% over the forecast period.

Additionally, growing petrochemical, steel, and furnace industry is also anticipated to drive the requirement for calcium silicate boards in France. Owing to the aforementioned factors, France is anticipated to remain one of the vital contributors to the development of the global market.

Category-wise Analysis

How are Different Sizes of Calcium Silicate Boards Penetrating the Market?

Of the four major board sizes of calcium silicate being traded in the market, 1000 X 500 mm calcium silicate boards find major applications across industries such as petrochemicals, steel, refractory, chemicals, aluminium, and construction. Furthermore, this is the most widely available size of calcium silicate boards in the market.

It is available in various widths, ranging from 50 – 100 mm as per custom requirements generated by end-use industries. The density range of the product varies from 150-200 Kg/m3. The board’s density plays a major role in deciding its end use. Lower density boards are utilized for industrial applications, while medium- and high-density board applications can largely be observed in building and construction applications.

Followed by 1000 X 500 mm, 1200 x 2500 mm calcium silicate boards capture 1/3 of global demand. 40% of 1200 X 2500 mm boards are utilized for industrial purposes, while the rest are utilized for building and construction applications such as chimneys, fireplace linings, and others.

Why is Calcium Silicate Boards Demand for Pipe Section Application Rising Significantly?

With upsurge in demand for pipe insulation globally, the requirement for calcium silicate boards is also increasing. The thermal property of calcium silicate helps insulate high-temperature pipes. Industries such as petrochemicals, power generation, processing industries, and others are witnessing growing utilization of calcium silicate insulation due to piping and equipment operating at up to 1200°F.

Historically consumption of calcium silicate fiber boards in piping section application increased at a CAGR of 2.3%, and is anticipated to rise at a CAGR of 3.2% over the forecast period.

Competitive Landscape

Key players of calcium silicate boards are focusing on increasing their market share in the Asia Pacific and European markets by entering into strategic partnerships and joint ventures with regional players as well as investment groups.

On the other hand, regional market players are focusing on forming long-term relationships with direct application players to sustain continuous revenue flow. In addition, global and domestic manufacturers are focusing on adopting alternative distribution channels, such as online channels, to strengthen their market presence.

Calcium Silicate Boards Industry Research Scope

Key Segments Covered in Calcium Silicate Boards Industry Survey

• By Board Size

  • 1000 X 500 mm Calcium Silicate Boards
  • 1200 x 2500 mm Calcium Silicate Boards
  • 2400 x 1220 mm Calcium Silicate Boards
  • Others

• By Application

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

• By End Use

  • Calcium Silicate Boards for Petrochemical Industry
  • Calcium Silicate Boards for Furnaces
  • Calcium Silicate Boards for Steel Industry
  • Calcium Silicate Boards for Glass Industry
  • Calcium Silicate Boards for Aluminum Industry
  • Calcium Silicate Boards for Cement Industry
  • Calcium Silicate Boards for Marine Industry
  • Calcium Silicate Boards for Building & Construction Industry
  • Others