(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 13, 2023 (GLOBE NEWSWIRE) -- 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.
Fact.MR – A Market Research and Competitive Intelligence Provider : According to Fact.MR, a market research and competitive intelligence provider, the global calcium silicate boards market is estimated at US$ 851.1 million in 2022 and is expected to expand at a CAGR of 4.2% during the forecast years of 2022-2032. The market is poised to grow due to its significant use as insulating and fireproofing materials.
Calcium silicate boards are amongst the most prominent materials used in construction activities as they can be easily drilled and machined. In petrochemical and steel industries, calcium silicate boards have a significant consumption, especially in equipment insulation, refractories, and pipe section.
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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. There has been a growing use of calcium silicate boards for insulation and fire protection due to their higher strength, low thermal conductivity, moisture and corrosion resistance, and ability to withstand high temperatures.
Key Takeaways from Market Study
The global calcium silicate boards market is projected to expand at a CAGR of 4.2% and be valued at US$ 1.2 billion by 2032 Under application, the petrochemical industry dominates the market and is valued at US$ 212.0 million in 2022 Europe had a strong presence in the global market with a 39.7% market share in 2022 North America is expected to reach a valuation of US$ 220.4 million by the end of 2022 South Asia & Oceania and North America's demand for calcium silicate boards is expected to increase at CAGRs of 4.4% and 4.2%, respectively
Competitive Landscape
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.
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Key Stratagems for Market Development
Market players are shifting their focus on high density calcium silicate boards to align with market standards for industrial purposes. Market stakeholders have diversified product portfolios to cater to both industrial sector and building and construction sector. Reducing production costs to enhance the long-run strengthening of the cash flow.
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 products in the target market, thereby capitalizing on the burgeoning demand.
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
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global calcium silicate boards market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of board size (1000 X 500 mm, 1200 x 2500 mm, 2400 x 1220 mm, others), application (climate boards, pipe section, equipment insulation, fire protection, chimneys), and end use (petrochemical industry, furnaces, steel industry, glass industry, aluminium industry, cement industry, marine industry, building & construction industry, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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