Ironing Board Material
When I first read your question, my answer was going to be that your "regular" ironing board has a metal surface in direct contact with the fabric covering. As such, it pulls heat from the iron without providing the benefit to the fabric being ironed.

In the case of the silver material, it is likely that it reflects the heat energy back toward the iron, also insulating the surface below. There should be some thickness to the silver material providing that insulating capacity. If not, even a thick towel will improve the insulation and protective ability of the silver covering.

One listing I found states that the material is one hundred percent cotton, then references an aluminized coating. It cannot be one hundred percent cotton, as aluminum is not cotton, but that is semantics.