ID: MRFR/CnM/3612-HCR | February 2021 | Region: Global | 145 pages
Global Acoustic Materials Market was valued at around USD 7.8 Billion in 2018 and is expected to register a CAGR of approximately 6.4% during the forecast period, 2019–2025. Acoustic materials are a variety of wood, fabrics, concrete, foams, and metals that are used for reducing or amplifying sound, owing to their unique property of sound absorption, diffusion, reflection or completely blocking sound transmission. These materials find uses in various end-use industries such as building & construction, automotive, and aerospace & defense. These materials help reduce noise by soundproofing, through which the noise generated from outside space is hindered from entering the space and by sound amplification through, which the sound produced inside an area is diminished inside the space itself. Due to the improving standard of living, the need for sound reduction outside or inside personal spaces such as homes, automobiles, and the workplace is also increased, which, in turn, is the key driver fueling the growth of acoustic materials in the global market. The rapid industrialization and the escalating traffic congestion leading to high decibel sound generation is stimulating the demand for acoustics materials in residential applications for dampening these outdoor noises, thereby propelling the growth of the global acoustic material market. The increasing concern of the government agencies for reducing noise pollution has compelled the building & construction industry and automotive manufacturers to implement these materials in their products. Hence, fueling the growth of the global market. However, the increasing concern overuse of environment-friendly bio-based product over synthetic material, which can substitute for current acoustic materials are expected to hamper the growth of the global acoustic material market.
The global acoustic materials report has been segmented into material type, product type, application, end-use industry, and region. Based on material type, the global acoustic materials has been segmented into polyurethane (PU) foam, glass fiber, ABS, polypropylene (PP), polyvinyl chloride (PVC), wood, concrete, metal, and others. Based on product type, the global acoustic materials market has been categorized into fabric panel, foam panel, fiberglass panel, gypsum boards, concrete walls, metal walls, and others. Based on application, the global acoustic materials market has been classified into sound absorber, sound distributor, noise barrier, and sound reflectors. By end-use industry, the global acoustic materials market has been segregated into building & construction, automotive, aerospace & defense, and others.
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa are the regions analyzed under the scope of the global acoustic materials. Asia-Pacific held the largest market share for acoustic materials in 2018 and is expected to be the dominant region during the review period. The key drivers contributing to the increasing demand of acoustic materials in the region are rapid industrialization and booming automotive and construction industries. High population in the countries in Asia-Pacific and poor road conditions has led to high traffic congestions, which creates mental and physical health problems, leading to the requirement for advanced technologies to avoid these problems. Hence, surging the demand of acoustic materials in the regional market. North America had the second-largest share in the global acoustic materials in 2018 and is expected to show positive growth during the review period. Owing to the region having the largest aerospace & defense industry and a continuously expanding construction industry with a strong GDP per capita of the inhabitants is stimulating them towards the use of acoustic materials to avoid outdoor noise and switching towards more comfortable and healthy lifestyles. Europe has a prominent market share in the global acoustic materials, driven by the strict government regulations pertaining to noise isolation and control has led the industrial leaders of the automotive, building & construction, and aerospace industries to adopt the use of acoustic material in their products. Hence, leading to the high consumption of these materials in the region. Moreover, Germany having the largest automotive industry, is another reason for propelling the growth of acoustic materials in the regional market. The Middle East & Africa is expected to witness healthy growth in the acoustic materials market during the forecast period due to the growing building and construction activities in the region. Latin America is expected to have a steady growth in the acoustic materials market during the forecast period due to the improving economy of the region.
Some of the key players in the global acoustic materials market are BASF SE (Germany), 3M (US), Dow (US), Covestro AG (Germany), Huntsman International LLC (US), Henkel AG & Co. KGaA (Germany), TORAY INDUSTRIES, INC. (Japan), LyondellBasell Industries B.V. (UK), Sika AG (Switzerland), johns Manville (US), Bayer AG (Germany), Owens Corning (US), ROCKWOOL International A/S (Denmark), and dB Acoustics Pte Ltd (Singapore).
Frequently Asked Questions (FAQ) :
Acoustic Materials Market valuation was USD 7.8 billion.
The CAGR would be around 6.4% during the forecast period including 2019 to 2025.
The end users are building & construction, aerospace & defense, automotive, and others.
The Asia Pacific acoustic materials market had the maximum share.
The investment in aerospace and defense would drive the market ahead.