Calcium Silicate Insulation Market by End-use Industry (Metals, Power Generation, Petrochemical, Transport, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 255 million mark in 2022 and is expected to hit US$ 390 million by 2030, recording a CAGR of 4.5% during the forecast period.
Calcium silicate insulation market has been significantly growing with the increasing their use in different application fields
The calcium silicate insulation is finds application in fields such as metals, power generation, petrochemical, transport, and others. The growing use of calcium silicate insulation in these different application fields is mainly driving the market growth. The growing investments in increasing power generation capacities is further fuelling the market growth. The metal segment is one of the major application segments. Further, other segments such as power generation, petrochemical, and transport are also expected to gain traction during the forecasted year.
Within the report, the market is segmented into end-use industry, and geography. By end-use industry, the market is further segmented into metals, power generation, petrochemical, transport, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
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Strong growth of the market in Asia Pacific region
The growing demand for calcium silicate insulation from various end-use industries is mainly driving the market growth in Asia Pacific region. Calcium silicate insulation material is highly used for historic buildings, as it has capillary active structure, therefore wicks away the possibility of moisture accumulation in buildings structures. Further, the strong growth of the construction industry in the region further fuels the market growth.
Focus on increasing power generation capacities
Excellent structural and compressive strength, water-resistant features, etc. properties make calcium silicate insulation effective in power generation applications. Different countries across the globe are focusing on increasing power generation capacities. For instance, In the European Union, solar energy is growing at the highest pace. According to the European Commission, the European Union solar market grew by 18 GW in 2020. According to the solar industry association, Germany added about 5.3 gigawatts of solar power capacity in 2021, 10% more than in the year before. Further, in France, solar energy is one of the government's key priorities in terms of energy transition. In February 2022, France has set a new target to install 5 GW of new photovoltaic (PV) capacity per year. The country's increasing efforts, particularly on solar energy, are expected to impact the calcium silicate insulation market positively.
Recent strategic developments in calcium silicate insulation market
The calcium silicate insulation market has undergone several significant developments, and a few of these have been mentioned below:
- In 2017, Johns Manville Industrial Insulation Group released the first, water-resistant calcium silicate insulation in North America, called Thermo-1200.
The calcium silicate insulation market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Promat, BNZ Materials, Johns Manville, Anglitemp, and NICHIAS Corporation are among the prominent players operating in the market
Target audience for the report:
- Raw material providers
- Calcium silicate insulation related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Applications of calcium silicate insulation
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- End-use Industry
- Metals
- Power Generation
- Petrochemical
- Transport
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Promat
- BNZ Materials
- Johns Manville
- Anglitemp
- NICHIAS Corporation
The List of Companies
- Promat
- BNZ Materials
- Johns Manville
- Anglitemp
- NICHIAS Corporation