FELTON, California, October 25, 2017 /PRNewswire/ --
The global acoustic insulation market size is expected to reach a value of USD 16.55 billion by 2025. Rising consumers' awareness regarding health and noise pollution coupled with the improving standard of living are expected to be the primary factors responsible for the growth in the global acoustic insulation industry. Recent studies and development in science and technology have shown, the ill effects of high levels of noise on human health and work, the study also highlights the significance of sound barriers.
Rising concerns regarding employee comfort levels have propelled the use of noise cancelling materials in corporate offices as well as commercial buildings. The increase in the standard of living of people is most likely to drive the acoustic insulation materials demand in the residential construction segment so as to attain a peaceful environment inside the home.
Government initiatives, as well as regulation for controlling noise pollution, is also a major factor driving the global market. EPA has come up with certain standards to monitor noise produced in transportation and also sound seclusion of the building environment. The countries which form the European Union also regulates the impact, airborne and utilization of noise levels. There are also certain regulations which are imposed to ensure seclusion from external sound.
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According to Italian law no. 447 of 2/10/95 both public and private entities will be suspended if found guilty for noise pollution. Many such laws and regulations are passed so as to control the sound produced from Planes, Ships, and automobiles.
Foamed plastics is used for the insulation as it provides excellent noise barrier in closed space and it can be injected easily in tiny pockets of ceiling and walls. In terms of the rate, it is high-cost material due to which it is expected to encounter a challenge in its industry growth. In terms of revenue formed plastic is projected to dominate the segment over the forecast period.
Moreover, owing to the easy availability and installation of rock wool, it is popular in the acoustic insulation market. Rock wool provides acoustic and thermal padding as well as it is fire resistance. It is low a low-cost material which has relatively higher demand in the developing countries which eventually contributes to the overall growth. Rising demand from the transportation sector is also estimated to propel the material market.
Construction and building industry is expected to witness the highest penetration of product and is projected to dominate over the upcoming years. Furthermore, rising demand from the industry can lead to the substantial amount of product required to insulate the buildings.
However, considering the economic slowdown in the Europe and U.S, construction and building segment has witnessed a significant impact which in turn has affected the product market. In the developed region the sector is expected to observe a challenge due to the moderate pace of new structures over the forecast period.
Changing consumer preferences for better NVH levels along with the huge competition between automobile industry has propelled the product demand from the transportation industry. In developing countries, the rapid growth of aviation, as well as automotive industries, is anticipated to boost the acoustic insulation material demand.
In the year 2015, Asia Pacific accounted for over 40% of the global demand thus being the largest market for the product. Growing building and construction industry, as well as the booming automobile sector in Asia Pacific, is expected to trigger the regional growth over the forecasted period.
Acoustic insulation material has also remarkably penetrated the European markets. The stringent regulations and strict government policies on noise control for industrial equipment, transportation, and building acoustic isolation have contributed for the product's penetration in the region. One of the restraints in the region can be the slowdown in the construction activities over the forecast period.
Saint-Gobain, Knauf Insulation, Rockwool International A/S, Johns Manville, Owens Corning, Armacell, Paroc, BASF SE, and others are some of the key players in the industry. Companies have adopted strategies such as expanding their product portfolio, increasing their geographical reach and continuous innovations for sustaining in the market. Some of the other approaches used are mergers and acquisitions to increase their market share and also the value chain integration.
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Acoustic Insulation Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Glass wool
• Rock wool
• Foamed Plastic
Acoustic Insulation End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Building & Construction
Acoustic Insulation Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Middle East and Africa
• Central & South America
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