Stratview Research announces the launch of a new report on Acoustic Insulation Market by Material Type (Fiberglass, Mineral Wool, Plastic Foam, and Elastomeric foam), by End-Use Type (Building & Construction, Transportation, and Industrial), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Size, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s acoustic insulation market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available as well as formulate growth strategies.
Acoustic Insulation Market: Highlights
The trend of green buildings has led the dynamics in the material mix of building envelopes and designs. The designing scheme of green buildings increasingly considers insulation (including acoustic insulation) to be one of the crucial elements for both new construction as well as renovation projects. The transfer of airborne and structural noises between different rooms in a building can be efficiently prevented by integrating acoustic insulation materials. Moreover, strict government laws and regulations regarding sound insulation requirements, such as US EPA Noise Control Act, are providing an opportunity for acoustic material manufacturers to expand their businesses. Furthermore, the trend towards quieter automobile interiors is further substantiating the demand for acoustic insulations.
Acoustic insulation currently holds less than 25% share of the overall insulation market (thermal and acoustic); however, it offers strong growth potential in the coming years, driven by its lower cost, excellent durability, seamless installation, and the mandate of building codes boosting the use of sound insulation materials.
The global acoustic insulation market has been witnessing a decent growth over the past decade; however, the sudden outbreak of COVID-19 has brought a considerable downswing in the market due to a shrinking economy, a significant reduction in infrastructure spending, a hefty decline in vehicle production, and postponement of construction activities. However, the gradual opening of economies, regain in consumer confidence, resilient outlook of the construction industry, and expected recovery in vehicles production are key factors that are likely to translate an impressive bounce-back in the demand for acoustic insulations from 2021 onwards. The long-term outlook looks promising, and the global acoustic insulation market is estimated to grow at a healthy CAGR of 5% to reach US$ 13.9 billion in 2026.
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Based on the material type, mineral wool is dominant in the market driven by its versatility in providing excellent thermal insulation, acoustic padding, fire resistance, and simple to install. Furthermore, the lower cost of mineral wool over competing insulation materials, such as fiberglass and plastic foams, is fuelling its demand, especially in emerging cost-sensitive economies.
Based on the end-user type, building & construction is estimated to remain the largest segment of the market during the forecast period. The segment’s growth will be driven by changing trends towards eco-friendly buildings that provide efficient acoustic and thermal insulation for residential, commercial, and industrial uses. The growing need for superior insulation materials meeting modern building regulations with efficient sound absorption and dampening, dimensional stability, and ecological compatibility, are among the primary elements driving the segment’s demand.
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In terms of region, Europe is expected to remain the largest region of acoustic insulation during the forecast period. Rising awareness of green construction and smart infrastructure is predicted to boost the product demand in the region in the years to come. Growing awareness among descriptors defined in ISO standards and guidelines set by governing bodies, such as Noise Policy Vision set by DEFRA, is attributed to driving the acoustic insulation penetration in the region’s market.
Asia-Pacific holds a niche share but represents a huge white-space growth opportunity in the years to come. The strong construction industry and infrastructure outlook of key countries in the region may create new revenue pockets for industry stakeholders in the near term. Emerging Asian economies, such as China and India, are likely to substantiate the market growth with the gradual adoption of stricter building codes, leading to an increase in the penetration of insulation materials in the region.
Following are the key players in the acoustic insulation market:
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the acoustic insulation market and has segmented the market in three ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the three ways in which the market is segmented:
Acoustic Insulation Market, by Material Type
Acoustic Insulation Market, by End-Use Type
Acoustic Insulation Market, by Region