Acoustic Insulation Market is forecast to reach USD 19.30 by 2030
The Global Acoustic Insulation
Market size is estimated to be USD 12.54 billion in 2019 and is predicted to
reach USD 19.30 billion by 2030 with a CAGR of 4.0% from 2020-2030.
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Acoustic insulation materials are
referred to as those materials which are being used either for noise reduction
or noise absorption. As noise pollution is capable of causing harmful effects
on human health accounting for hearing problems, hypertension, sleep
disturbances, psychological losses, and others. Its designing is considered to
be as one of the most complex sides of construction and architecture that
assured insulation system to maintain the acoustic quality of the building.
Acoustic insulation has successfully achieved the target of sound insulation
for walls, ceiling sound insulation, and floor sound insulation. They are also
available in the market, on the basis of their thickness that may vary from 25
mm to 100 mm thick.
Market Dynamics and Trends
Growing rural to urban migration
due to rapid urbanization and industrialization have raised the issue for the
government to meet the energy demand and to reduce the noise pollution. Hence,
increasing government’s initiation and proposals for the formulation of
regulations for controlling noise pollution and offering energy efficient
buildings to the citizens is the prime reason responsible for driving the
growth of the market. As a result, numerous regional organizations of the
United States and European Union have formulated and adopted a number of
policies to meet the need for sustainable.
Acoustic insulation market is
driven by the increasing health issues among people, growing demand from
developing countries, and elevating residential and commercial construction
activities. In addition, the factors like increasing governments focus on
controlling noise pollution and increasing consumer awareness about energy
consumption the responsible in propelling the growth of the market. However,
the lack of awareness of Acoustic insulation material coupled with the slowdown
in the European construction industry restricts the growth of the market.
Increasing demand for acoustic
insulation material and availability of potential high-performance substitutes
of glass wool like aerogel creates a great opportunity for this market.
Additionally, the fire resistance properties for acoustic insulation,
increasing adoption and awareness about green products and application of
stainless steel wool for sound dampening are another factors that create ample
opportunities for acoustic materials worldwide. Lastly, the lack of
disposability and recycling processes serves to be the major challenge of the
market.
Market Segmentations and Scope of
the Study:
The global Acoustic Insulation
market share is analyzed on the basis of product, end use, and geography. On
the basis of product, the acoustic insulation market is segmented into glass
wool, rock wool, foamed plastic, and others. On the basis of end use, building
& construction, residential, commercial, industrial, transportation,
automotive, marine, and aerospace. Building & construction of end-use
segment reported to have the largest market size. Lastly, regional analysis of
acoustic insulation market comprises of North America, Europe, Asia Pacific,
and Latin America and Middle East.
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Competitive Landscape
Comprehensive
competitive analysis and profiles of major market players such Armacell
International S.A., BASF Polyurethanes GmbH, Cellecta Ltd., Fletcher
Insulations, Johns Manville Inc., King span Group, Knauf Insulation, Owens
Corning Corporation, Rockwool International and Saint-Gobain SA.
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