Calcium silicate boards are key insulation materials used across industries such as petrochemicals, steel, cement, refractories, aluminium, and others. Rising manufacturer consciousness to control production costs has enhanced the growth of the calcium silicate boards market in industrial applications. Apart from industrial applications, calcium silicate boards are extensively used in building and construction. However, in the past half-decade, demand for building and construction has declined nearly 4-fold, owing to the adoption of key substitutes such as gypsum boards, cement fibre boards, and others. Overall, increasing industrial application has normalized the demand effect, and is set to bolster market growth through 2030.
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The calcium silicate boards market is anticipated to create an absolute dollar opportunity of US$ 300 Mn over the forecast period (2020-2030).
“Lower speculative demand in the past-half decade, owing to nominal growth in prices, is set to lower medium term risk,”says a Fact.MR analyst.
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