Acoustic Insulation Market worth $17.1 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, July 13, 2021 /PRNewswire/ -- According to the new market research report "Acoustic Insulation Market by Type (Glass Wool, Rock Wool, Foamed Plastics, Elastomeric Foam), End-Use Industry (Building & Construction, Transportation, Oil & Gas, Energy & Utilities, Industrial & Oem), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Acoustic Insulation Market size is projected to grow from USD 14.1 billion in 2021 to USD 17.1 billion by 2026, at a CAGR of 3.9% between 2021 and 2026.
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Browse in-depth TOC on "Acoustic Insulation Market"
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Acoustic insulation simply can be stated as soundproofing and is defined as the ability of the insulation material to reduce the sound pressure with respect to a specified sound source and receptor. It is mainly used for limiting or absorbing sound for the comfort of receptors.
Foamed plastics type will account for the major share of the acoustic insulation market in terms of value
Foamed plastics are the largest type segment in terms of value during the forecast period. These plastics are innovative, energy-efficient materials used for insulation. They can effectively seal gaps and stop air leaks. Foamed plastics are further segmented into polyethylene, polyurethane, polystyrene, phenolic foam, etc. In addition, glass wool is the second-largest material type in demand, because of its superior sound absorption, low cost, and its increasing use in the building and construction sector. It is thus used in various applications, such as piping, gymnasiums, cinemas, air conditioner duct warming/cooling, machine rooms, ships, office partition walls, and ceiling sound absorption.
In terms of value, the building and construction segment is projected to account for the largest share of the acoustic insulation market, by end-use industry, during the forecast period.
Building & construction accounted for the largest share in the acoustic insulation market in terms of value, followed by transportation and other industrial sectors. Urbanization, industrialization, and stringent regulations regarding energy conservation, especially in developing economies, such as China, India, Brazil, Chile, Argentina, Indonesia, Thailand, Malaysia, and South Africa, are the major growth factors for the acoustic insulation market. Commercial buildings consume more than 80% of the overall consumption of acoustic insulation in the building and construction industry. Acoustic insulation significantly reduces the levels of external noise entering homes, offices, and other commercial buildings, allowing a peaceful environment. In addition, the growing demand for acoustic insulation in the automotive industry is also driven by the use of soundproofing applications in engine components and sound systems.
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APAC is estimated to be the fastest-growing market for acoustic insulation between 2021 and 2026.
APAC is estimated to be the fastest-growing market for acoustic insulation between 2021 and 2026. Growth in APAC is primarily attributed to the fast-paced expansion of the economies such as China, India, and Indonesia. The region has become an attractive location for chemical & petrochemical, power, oil & gas, and cement industries. Growing population, increased consumer spending, and rapid industrial expansion are the major factors responsible for the high growth rate of the region. Rapid urbanization and increasing disposable income are the key factors driving the demand for acoustic insulation in India. The manufacturers focus on the high-growth Indian market to gain market share and increase their profitability.
The key players in this Acoustic Insulation Market are Saint Gobain (France), Knauf Insulation (US), Armacell International (Germany), Soprema (France), Rockwool International (Denmark), Huntsman (US), Owens Corning (US), Kingspan Group (Ireland), BASF SE (Germany), and Johns Manville (US).
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