PUNE, India, July 26, 2016 /PRNewswire/ --
The report "Acoustic Insulation Market by Type (Stone Wool, Glass Wool, and Foamed Plastics), End-Use Industry (Building & Construction, Transportation, and Industrial), and by Region - Global Forecast to 2021", published by MarketsandMarkets, The market size is estimated to grow from USD 9.86 Billion in 2015 to USD 13.57 Billion by 2021, at a CAGR of 5.50%.
Browse 165 market data Tables and 60 Figures spread through 195 Pages and in-depth TOC on "Acoustic Insulation Market"
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The market size of acoustic insulation is driven by the growing infrastructural activities in the building & construction industry, especially in the commercial segment, and growing standards of living.
Building & Construction: The Largest End-use Industry of the Acoustic Insulation Market
In 2015, the building & construction end-use industry accounted for the largest market share, in terms of value, followed by transportation and others. Commercial buildings consume more than 80% of the overall consumption of acoustic insulations in the building & construction industry. Acoustic insulation significantly reduces the levels of external noise entering homes, offices, and other commercial buildings, allowing for peaceful environment. The transportation end-use industry is estimated to register the highest CAGR, in terms of value, between 2016 and 2021. Growing demand for acoustic insulation in the automotive industry is mainly driven by the use of soundproofing application in engine components and sound systems.
Aerogel and Cellulose: The Fastest-growing Type Segment of the Acoustic Insulation Market
Aerogel and cellulose insulation products are estimated to register the highest CAGR between 2016 and 2021. The high growth is attributed to excellent sound absorption properties, easy handling, and technological developments. The aerogel and cellulose segment is projected to grow at a higher rate among all types, in terms of both value and volume.
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Asia-Pacific: The Largest Market for Acoustic Insulation
Currently, Asia-Pacific is the largest market for acoustic insulation. China is the largest while India is the fastest-growing market for acoustic insulations in the region.
The following factors are the main driving forces for the Acoustic Insulation Market in Asia-Pacific:
- Increasing standard of living and demand for acoustic insulation for noise cancellation properties
- Growing infrastructure activities with soundproofing applications in the commercial building & construction industry
- Government regulations set for various industries for controlling noise pollution
Rockwool International A/S (Denmark), Knauf Insulation GmbH (Germany), Saint-Gobain SA (U.S.), Owens Corning Corporation (U.S.), Johns Manville Corporation (U.S.), Kingspan Group PLC (Ireland), Armacell GmbH (Germany), BASF SE (Germany), Paroc (Finland), and Fletcher Insulation (Australia) are the key players of the acoustic insulation market.
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