April 23, 2020
According to the research report titled ‘Acoustic Insulation Market Size By Product, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2025’, available with Market Study Report LLC, worldwide acoustic insulation market is predicted to expand considerably through 2025.
Strict government regulations pertaining to minimizing noise pollution and promoting green infrastructural development coupled with rapid industrialization are major factors fostering the demand for acoustic insulation products across the globe. Increasing awareness regarding adverse health effects of noise pollution such as sleep disturbances, hypertension and high stress levels is further fueling the market expansion.
Increasing R&D investments towards development of advanced acoustic insulation with better sound absorption and high resistance to corrosion, moisture and heat is stimulating the industry outlook. Shifting focus towards infrastructural development have resulted in rapid expansion of construction sector especially in Latin America and Asia-Pacific. Additionally, favorable government regulations which promote sustainable development in order to minimize environmental effects are promoting the business scenario. However, fluctuating prices of raw materials may act as a restraining factor to the acoustic insulation market growth.
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As per product type, plastic foam segment was worth USD 6 billion in 2018 and will witness similar growth during the forecast period. Properties such as high flexibility, low thermal conductivity, exceptional sound absorption and lightweight associated with plastic base acoustic insulation products are aiding the segmental growth.
Based on the application spectrum, market share from transportation segment is presumed to grow significantly during the study period. Various automakers are focusing on developing lightweight vehicles with improved acoustical parameters and fire performance rating. Increasing production of automobiles and rising adoption of luxury vehicles are driving the growth of the segment.
The report states that Asia-Pacific acoustic insulation industry is reckoned to witness a growth rate of 6% through 2025, primarily due to escalating construction of commercial and residential establishments in Australia, Japan, India and China. Furthermore, availability of affordable skilled labor and favorable FDI policies are positively influencing the industry outlook in Asia-Pacific.
On the other hand, Europe market is projected to record a remunerative growth rate between 2019 and 2025. Development of smart infrastructure and adoption of IoT along with regulatory scenario directing use of sound reducing materials in new establishments are propelling the product demand in Europe.
Established companies in global acoustic insulation industry are Armacell International, John Manville, Kingspan, BASF, Owens Corning, Knauf Insulation and Rockwool International among others.
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