VANCOUVER, BC, July 29, 2021 /PRNewswire/ -- The global acoustic insulation market size is expected to reach USD 19.64 Billion by 2027 at a CAGR of 5.3%, according to a new report by Emergen Research. Key factors such as increasing usage of acoustic insulation in various sectors such as building and construction, aerospace, manufacturing, automotive, and transportation, increasing levels of voice pollution across the globe and high exposure to noise especially in residential and commercial spaces are driving global market revenue growth.
Acoustic insulation, commonly known as soundproofing insulation is used to decrease the intensity of sound emitted. Acoustic insulation is widely used in new buildings in order to minimize the sound emission. Increasing health problems due to long exposure to noise leads to annoyance and damaged ears, and other associated symptoms. In addition, increasing concerns regarding employee comfort levels is increasing demand for acoustic insulation in commercial buildings. Factors such as increasing investments in research and development activities to develop advanced products, rapid growth in industrialization, and urbanization are boosting global market growth.
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However, factors such as unawareness about acoustic insulation especially in developing countries and lack of knowledge about proper disposal and recycling process of glass wool are factors expected to hamper overall market growth up to a certain extent going ahead.
Some key highlights in the report:
- Based on product type, the rock wool segment is expected to register rapid revenue growth throughout the forecast period. Rapid revenue growth is attributed to extensive use of rock wool in transportation sector owing to its properties such as fire resistance, acoustic padding, easy installation and cost-effectiveness.
- Based on distribution channel, the online segment is expected to register fastest revenue CAGR between 2021 and 2028 owing to high availability of various acoustic insulations at discounted prices. Increasing usage of internet services and rising marketing strategies to sell products online are further expected to boost segment revenue growth.
- Among the industry vertical segments, the building and construction segment is expected to account for largest revenue share throughout the forecast period. Rapid growth in building and construction sector, increasing adoption of smart homes and buildings, and growing awareness about noise pollution are key factors fueling segment growth. In addition, increasing focusing on developing new technologies, and stringent norms and guidelines for noise control in buildings are also boosting market growth.
- The acoustic insulation market in Asia Pacific is expected to account for largest revenue share throughout the forecast period. Rapid industrialization, increasing building and construction activities, rising awareness about noise pollution, and rapid growth in the transportation sector are some factors boosting Asia Pacific market growth.
- Europe is expected to register significantly rapid revenue growth between 2021 and 2028 owing to factors such as stringent government regulations policies for noise control, presence of strong industrial base and increasing demand for soundproofing in industries. U.K., Italy, Germany, and Spain are major contributing countries in Europe.
- Knauf Insulation, Saint-Gobain, 3M, BASF SE, Kingspan Group, Rockwool International, Owens Corning, Armacell International, Fletcher Insulation, and Johns Manville are some of the major players operating in the acoustic insulation market.
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For the purpose of this report, Emergen Research has segmented the global acoustic insulation market on the basis of product type, distribution channel, industry vertical, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Glass Wool
- Rock Wool
- Foamed Plastics
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
- Building & Construction
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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