Calcium Silicate Boards Market Hit by Delayed Construction Projects in Covid-19 Crisis, Says Fact.MR
*Calcium silicate board manufacturers are continuing to leverage strict health and safety regulations against asbestos, with alternative offerings for construction insulation applications.*
*ROCKVILLE, MD / ACCESSWIRE / November 2, 2020 / *The global calcium silicate boards market is estimated to display a moderate CAGR of more than 3% between the period of assessment from 2020 to 2030. The coronavirus pandemic will adversely impact the industry as construction and industrial applications were delayed following the coronavirus pandemic. Furthermore, disruptions in supplies from Asian manufacturers will also affect the market. The market is projected to display steady recovery towards 2021, with restrictions on construction projects are relaxed by governments to recovery economic growth.
"The rising number of residential and commercial construction projects in emerging economies such as China and India will bolster the need for calcium silicate boards for tile and cement applications. Major companies in the calcium silicate market have been moving production units to Asia on account of low costs of raw material and labor," says the FACT.MR report.
*Calcium Silicate Boards Market- Key Takeaways*
· Acoustic tiles and ceramic false ceilings applications are expected to provide significant impetus to the demand for calcium silicate boards for the duration of the forecast period.
· High density calcium silicate boards are reflecting strong growth, supported by demand for fire-resistant, insulation offerings in the building and construction sector.
· Europe is a leading market for calcium silicate boards, supported by strict fire safety standard regulations in the region. However, Asian countries are reflecting strong growth on the back of lower production costs and major demand from residential construction projects in the region.
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*Calcium Silicate Boards Market- Driving Factors*
· Positive prospects for the global construction sector, in addition to wider availability of construction material alternatives is driving overall demand.
· Investments by manufacturers towards product development for characteristics such as better thermal resistivity will bolster market growth in the long term.
*Calcium Silicate Boards Market- Major Restraints*
· Strict regulations by bodies such as OSHA to minimize risk of exposure to calcium silicate, and associated side effects such as skin eruptions, and red eyes limit scope of application.
· High costs of installation coupled with limitations to moisture and heat resistance, especially for low density boards are hindering market growth.
*COVID-19 Impact on Calcium Silicate Boards Market*
The covid-19 pandemic has had a substantial impact on the global construction and building sector, with a large number of projects being reduced in scope, postponed, or even completely cancelled. Many ongoing projects have been suspended. Also, issues associated to cash flow, labor shortage, and closure of fabrication facilities has hurt prospects in the near future.
All of these factors are likely to hinder the demand for calcium s silicate boards in the long term, with delays in delivery schedules, higher costs, and disruptions in logistics being major concerns for participants in the market. The industry is expected to reflect a gradual recovery towards 2021, as lockdown restrictions are lifted.
*Explore the Calcium Silicate Boards market comprising of 152 figures and 92 data tables, along with the table of contents. You can find a detailed market segmentation on *https://www.factmr.com/report/5207/calcium-silicate-boards-market
Etex Group, Calderys, Ramco Industries Ltd., A&A Materials, Skamol, Johns Manville, Calsitherm, and Beijing Hocreboard Building Materials are some of the leading players in the calcium silicate board market.
Calcium silicate board manufacturers are largely invested in strategic acquisitions and product launch strategies to bolster their position in a fairly consolidated market, with wider portfolios and production capacities.
For example, Ramco Industries Ltd. has unveiled its new range of Hilux calcium silicate boards in late 2019, with custom designs of wood and marble finishes, as substitutes for POP, gypsum, and plywood in construction. Further, Lone Star has acquired building materials manufacturer Xella at an estimate of over 2 billion euros. Further, J.M. Huber Corporation has entered an agreement with Evonik to sell its silica business in North America, Europe, and Asia.
*About the Report*
This study provides readers with a comprehensive market forecast of the calcium silicate boards market. Global, regional and country-level analysis of key trends affecting the calcium silicate boards market is encompassed by this FACT.MR study. The report provides insights on the calcium silicate boards market in terms of board size (1000x500 mm, 1200x2500 mm, 2400x1220mm, and others), application (climate boards, pipe sections, equipment insulation, fire protection, chimneys, and others) and end use (petrochemical, furnace, steel, glass, aluminum, cement, marine, building & construction, and others) across five regions (North America, East Asia, Europe, South Asia & Oceania, and Rest of the World).
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