Global Acoustic Insulation Market Overview
The key driver impacting the acoustic insulation market is the increasing prevalence of heart disease, hearing impairment, and hypertension due to rising noise pollution. For instance, Hearing impairment due to noise exposure shows a severe public health problem. It is expected that around 1.3 billion people suffer from this condition globally, and the World Health Organization (WHO) in 2014, approximately 10% of the global population is exposed to noise levels that can result in hearing impairment. Moreover, the growing concern for employee comfort levels has triggered the demand for noise-canceling materials in commercial buildings, contribute to acoustic insulation market demand in the coming years.
According to Value Market Research, the global Acoustic insulation market size was valued at about USD 12658.52 Million in 2020 and is estimated to grow at a CAGR of around 6% during the forecast period 2021 to 2027.
The increasing demand for acoustic insulation in automotive will likely augments the need for acoustic insulation in the forecast period. Also, government regulations related to noise control and isolation across the globe are positively impacting the market growth. For instance, in the US, the Occupational Noise Exposure Regulation ordered that industrial employers limit noise exposure to 90 dB of their employees. However, the high cost of installation hampers the market in the long run. In addition, the disposability issue associated with acoustic insulation materials is negatively impacting the market growth. Nevertheless, the industry trends, rising demand in significant applications might provide massive market opportunities to the market's key players.
The Acoustic insulation market is widespread, with many local and international players. The market leaders follow diverse strategies to strengthen their market, such as extending product portfolio, acquisitions, contracts, amalgamation, product upgrades to raise their market share globally. The key players taken in the report are 3M, DuPont Inc., Johns Manville Corporation, Knauf Insulation, Rockwool Group, Fletcher Insulation, Paroc Group, Owens Corning, BASF SE, and Armacell International.
Global Acoustic Insulation Market Share by Region (Representative Graph)
In this research report, the Acoustic Insulation market is segmented by type, end-use industry, and region.
Analysis by Type:
By Type, the report is categorized into glass wool, rock wool, foamed plastics, and others. The foamed plastics segment dominates the type segment with the highest share in 2020. It is due to foamed plastics offers a better noise barrier in a closed-cell and can be easily injected in small pockets of ceilings and walls. Moreover, the foamed plastic is the leading material used for acoustic insulation due to its inferior price, contributes to the foamed plastics segment's growth in the forecast period.
Analysis by End-Use Industry:
By end-use industry, the report is categorized into building & construction, transportation, manufacturing & processing, and others. The building & construction segment is expected to register the highest market revenue in 2020. It is due to the growing building and construction activities across the globe. Moreover, the transportation sector is expected to show the highest growth rate in the forecast period due to growing acoustic insulation material for soundproofing against sound systems installed engines and other machinery sounds, and external noise in the automotive sector. Also rapidly expanding automotive industry across the globe contributes to the transportation segment's growth in the forecast period.
Analysis by Region:
In the regional outlook of the global Acoustic insulation market, the Asia Pacific region dominated with the largest market share in the forecast period and is expected to likely grow with a high CAGR in the coming years. It is due to the growing building & construction, expanding manufacturing base, and increasing transportation sector across the region. Moreover, the increasing pollution of noise level and stringent regulation regarding noise control for industrial equipment and transportation and industrial equipment, high population, etc., across the region contribute to the tremendous market growth across the Asia Pacific.
Market Segmentation covered in the Report:
By Type:
- Glass Wool
- Rock Wool
- Foamed Plastics
- Others
By End-Use Industry:
- Building & Construction
- Transportation
- Manufacturing & Processing
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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