ID: MRFR/CnM/2116-HCR | February 2021 | Region: Global | 111 pages
Acoustic Insulation Market is projected to be worth USD 21.71 Billion by 2030, registering a CAGR of 5% during the forecast period (2022 - 2030), The market was valued at USD 14 billion in 2021.
The Acoustic insulation market is one such upcoming market trend that is known for developing sound-absorbing materials and which control the sound levels in the environment and is useful for regulatory compliances. The acoustic insulation market is known for developing acoustic insulation materials which enable soundproofing and reduce noise pollution.
Such materials are used in buildings, architecture, premises for the absorption of various unwanted and loud noises which may affect mental health and cause stress. The increasing awareness in terms of environment-friendly products has motivated the acoustic insulation market trends with developments being made in terms of innovations and better technologies to foster the growth of the market all around the globe.
The positive shift among people towards privacy and mental health allows manufacturers to look for various alternatives to provide for sound-absorbing materials and the acoustics insulation market provides for all such home accessories such as soundproof mats, cushions, curtains, and many others to prevent sound transmission from one building to another.
COVID 19 Analysis:
The novel coronavirus or the Covid 19 pandemic has negatively impacted the acoustic insulation market since the focus of the people had shifted from construction of buildings and high expenditures on non-necessary goods which include the acoustic materials and thus, it lead to the downfall of the acoustic insulation industry creating an imbalance. Due to the lockdowns in various countries and restrictions laid thereof the demand for the various consumer-oriented goods has gradually decreased and the production units have become sore which has ultimately led to the ousting of the acoustic insulation market.
The impact of covid 19 can be easily seen in a way that most of the big players have to shut down their main production units and are also forced to lay off employees. However, it is expected that the market will certainly pick up growth as soon as the lockdown restrictions are removed and people can move freely. It is expected that the post-lockdown period would be a great success for the acoustic insulation market revenue since people would now be more attracted towards mental peace and health. The building and construction segment of the end-user is expected to provide maximum returns with more investments being made by the public for construction purposes.
The acoustic insulation market has been continuously striving towards growth and the key drivers for the continuous growth remain the applicability and efficiency of acoustic products and the gaining popularity of acoustic products among developing nations. The population in such countries has been rising significantly and the demands of the public have shifted to such products which can reduce sound to the maximum.
Due to the increased population, the demand for building hotels, malls, cinema halls, and other constructions has been on a roll with maximum efforts being made towards the installation of acoustic fiber materials in each building which has boosted the acoustic insulation market size. Countries like India and China in the Asia-Pacific region have been the major contributors in terms of their rising demands for construction and development purposes.
Though the acoustic insulation market is bound to experience continuous growth, some hindrances might act as barriers towards growth and must be removed to enhance easy growth. Lack of awareness among developing and underdeveloped nations have not allowed the entry of the acoustic insulation market to explore a region that may result in a lost opportunity. The customers in these countries only know acoustic material as soundproofing and do not like to spend their disposable income on such products.
A Slowdown in the European industry has also resulted in a restraint to the acoustic insulation market whereby the entire construction and real estate sector in the European countries is experiencing a slump which indirectly affects the market for acoustic materials.
The acoustic insulation market has been developed based on profound technology and the capacity of the acoustic materials to control the sound waves and minimize their effects and thus, it is a technologically driven market. The acoustic insulation market is supported by acoustic sensors which is the latest technology being used to control negative sound and improve the efficiency of the acoustic fibers.
The acoustic sensor technology is rapidly advanced and has been used in radio transmitters and as components at the base stations for satellite communications. The Automobile industry has also been using acoustic sensors to filter all the noises out of the car engines and make them less noisy and environment-friendly.
Segment Overview:The additive masterbatch market has been segmented as follows:
The global acoustic insulation market has been divided into four regions where each region has been contributing significantly in terms of its capabilities and population demands. However, among the four nations, the Asia-Pacific region has been accounting for the major acoustic insulation market share whereby the key drivers towards the growth of the acoustic insulation industry are developed here, and the population seems to be quite interested in the innovations in terms of new products in the market.
The major acoustic insulation market revenue is expected to come from countries like India, Japan, China, and Korea who are experiencing increased demand for construction of buildings, hotels, airports, hospitals, schools, libraries, etc. with installed acoustic fibers.
The European region is also experiencing steady growth where the acoustic market trends have shifted from the commercial sector to the automobile sector, defense purposes, and space programs. The North American region is also experiencing demand for acoustic materials in the defense and aerospace industries.
The competitive landscape in terms of the acoustic insulation market has been immense and nail-biting with new players easily entering the market and the existing players making huge investments in this segment. The big names from this market are:
The key players in the market are more focused on developing future strategies and set themselves as joint ventures to increase the acoustic insulation market share and size.
The Global report helps the investors to gain meaningful information about the market and make decisions wisely. The report discusses the steps taken by the market leaders to boost the market growth and inflate market valuation for their good. The report fully summarises the ongoing market scenario in the additive masterbatch market which would help the intended audience to seek more information about the market. The objective of the report was to fully summarise the key players in the market and their role in boosting the electric vehicle market value. The report also discusses the future growth prospects and the competitive landscape in the electric commercial vehicle industry and lays down the expected growth rate of the market along with the hindrances it might have to face.
|Market Size||2030: USD 21.71 Billion|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Saint-Gobain (France), ROCKWOOL International A/S (Denmark), Knauf Insulation (Germany), Johns Manville (US), Owens Corning (US), Kingspan Group (Ireland), Armacell International (Germany), BASF SE (Germany), Siderise Group (UK), Recticel Insulation (Belgium), Trelleborg AB (Sweden), Fletcher Insulation (Australia), U.P. Twiga Fiberglass Limited (India), Primacoustic (Canada), and Autex Group (New Zealand)|
|Key Market Opportunities||The increasing awareness in terms of environment-friendly products|
|Key Market Drivers||The gaining popularity of acoustic products among developing nations.|
Frequently Asked Questions (FAQ) :
The Asia-Pacific region is expected to have a high growth rate and market share in the rotogravure printing ink industry.
The key manufacturers in the market who hold a dominant position are Saint-Gobain (France), Knauf Insulation (US), Armacell International (Germany), Soprema (France), Rockwool International (Denmark), Huntsman (US)Owens Corning (US)
The building and construction segment in the end-use segment is the one expected to provide maximum growth.
The expected growth rate of the acoustic insulation market is estimated to be 5% by 2030.