Research Report With COVID-19 Forecasts – Calcium Silicate Market 2020-2024 | Increasing Demand for Acoustic Insulation Coupled with Rise in Construction Spending to Boost the Market Growth | Technavio
LONDON–(BUSINESS WIRE)–#CalciumSilicateMarket–The calcium silicate market is expected to grow by USD 22.31 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Acoustic insulation, also known as soundproofing is essential in music studios, sound quality auditoriums, workout centers, control rooms, and corporate workplaces. Also, industries such as oil platforms, construction, and electronics are increasing the use of soundproofing materials to adopt environmentally friendly operations. In countries such as China, the growing investments in commercial and industrial projects have increased the focus on sound-proofing and fire-safety in high-rise buildings. Calcium silicate is widely used in the manufacture of soundproofing materials. Therefore, the increasing demand for acoustic insulation in the construction industry is expected to drive the growth of the global calcium silicate market during the forecast period.
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As per Technavio, the increasing popularity of calcium silicate board will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Calcium Silicate Market: Increasing Popularity of Calcium Silicate Board
Calcium silicate boards are lightweight, resistant to fire, chemicals, and water, have high insulation strength, and resistant to microbial actions. They offer better strength compared to substitutes such as gypsum boards. Also, calcium silicate boards offer better fire protection compared to other materials such as asbestos. Many such advantages have increased the popularity and use of calcium silicate in various building applications such as wall cladding, decorative walling, and wall partitioning. These factors are positively influencing the growth of the global calcium silicate market.
“Adoption of doped calcium silicate ceramics for clinical applications and increased demand from fireproofing applications will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Calcium Silicate Market: Segmentation Analysis
This market research report segments the calcium silicate market by Application (Insulation, Cement, Paints and coatings, Ceramics, and Others) and Geography (Europe, APAC, North America, South America, and MEA).
The European region led the calcium silicate market in 2019, followed by APAC, North America, South America, and MEA respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the thriving construction industry in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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