Acoustic Insulation Market Revenue Generation Sources Till Forecast Period 2030
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.
Market Highlights
The growth in building and development operations associated with the increase in the number of vehicles that generate noise pollution, affecting the personal safety and mental health of the inhabitant. Thus, individuals are oriented for the use of insulation materials for building applications in roofs, floors, and walls. The rising use of acoustic materials is also boosting the creation of the global market for acoustic insulation. Moreover, the stern government regulations regarding the decrease of noise emissions provide a growth opportunity for the acoustic material manufacturers to extend their growth and broaden the global acoustic insulation market as well.
The growing emphasis on the use of environmentally friendly bio-based goods over synthetic materials, however, has contributed to progress in bio-based acoustic materials, which is expected to overtake the existing material base and hamper the growth of the global demand for insulating materials.
Segmental Analysis
The global acoustic insulation market has been analyzed based on material form, application, and area.
The material forms covered under the reach of the global acoustic insulation market are stone wool, glass fiber, wood, glass wool, mineral wool, metal, polyethylene, and others.
Based on use, the global acoustic insulation market has been classified into floors, walls, ceilings, and others.
The global acoustic insulation market has been divided into building & manufacturing, transportation, aerospace & defense, and others by the end-use industry.
Regional Overview
the global acoustic insulation market outlook has been reviewed with respect to five main regions, namely Europe, Asia-Pacific, the Middle East & Africa, North America, and Latin America.
In 2018, Asia-Pacific had the largest share of the demand for acoustic insulation and was projected to be the fastest-growing region during the timeframe under study. The main factors contributing to the surging demand for acoustic insulation in the area are rapid industrialization and thriving automotive and construction industries of the area. China and India are controlling the regional market owing to the increasing construction industry of the area funded by the government.
Europe is poised to retain the second-largest market share in the global acoustic insulation, powered by the strict government guidelines relevant to noise isolation and regulation. In addition, the increase in the commercial sector's use of acoustic materials to provide workers with a noise-free and convenient workplace is boosting the growth of the region's acoustic insulation industry.
In 2018, North America had a leading stake in the global market for acoustic insulation and was projected to witness steady growth over the review period. Owing to its well-established aerospace and defense industries and the rising construction industry along with a high GDP per is enabling individuals to use acoustic insulation to prevent long term exposure to environmental noise, which can lead to mental and physical health issues such as discomfort, tension, and even illness-related, which is why individuals are moving towards relaxed and healthier lifestyles.
During the forecast period, the Middle East & Africa acoustic insulation market is expected to see healthy growth due to the rising construction activities in the region. Latin America is expected to experience slow growth in the acoustic insulation sector, followed by countries such as Argentina, Brazil, and Chile.
Competitive Dashboard
Some of the eminent players of the global acoustic insulation market are ROCKWOOL International A/S (Denmark), Owens Corning (US), Armacell International (Germany), Siderise Group (UK), Recticel Insulation (Belgium), Trelleborg AB (Sweden), Fletcher Insulation (Australia), BASF SE (Germany), Kingspan Group (Ireland), Knauf Insulation (Germany), Johns Manville (US), U.P. Twiga Fiberglass Limited (India), Primacoustic (Canada), Saint-Gobain (France), and Autex Group (New Zealand).
Read More: https://www.marketresearchfuture.com/reports/acoustic-insulation-market-2862
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