PUNE, India, October 16, 2017 /PRNewswire/ --
The report "Acoustic Insulation Market by Type (Glass Wool, Rock Wool, Foamed Plastics), End-Use Industry (Building & Construction, Transportation, Manufacturing & Processing), and Region (Asia Pacific, Europe, North America) - Global Forecast to 2022" published by MarketsandMarkets, the global market is estimated to grow from USD 11.34 Billion in 2017 to USD 15.01 Billion by 2022, at a CAGR of 5.8% from 2017 to 2022.
Browse 75 Market Data Tables and 34 Figures spread through 133 Pages and in-depth TOC on "Acoustic Insulation Market"
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Globally, people are using acoustic insulation as it reduces noise pollution and provides a safer workplace environment in areas where noise could cause serious hearing damage, whilst improving personal comfort and privacy in working or home environment. Acoustic insulation is used owing to its unique set of properties such as high density, excellent sound absorption, fire resistance, heat insulation, moisture & water repellence, ease of installation, and no maintenance. These factors ultimately increase the demand for acoustic insulation globally.
Building & construction industry is estimated to lead the Acoustic Insulation Market during the forecast period
Among end-use industries, the building & construction industry segment is expected to lead the Acoustic Insulation Market between 2017 and 2022, followed by the transportation industry. Because of the implementation of stringent environmental regulations regarding noise pollution, the designs of buildings have changed drastically over the past few decades. Governmental norms for reducing noise pollution and improving standards of living are the major reasons which drive the market for acoustic insulation in building & construction industry. Demand for these materials has increased in the building & construction sector due to their attributes such as low thermal conductivity, energy saving ability, sound control, reduction in greenhouse gas emission, and low cost. Some of the applications of acoustic insulation in buildings & construction industry are cinema halls, malls, recording theatre, auditoriums, stadiums, workplaces, pubs, and hospitals.
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Glass wool acoustic insulation is estimated to lead the Acoustic Insulation Market during the forecast period
Acoustic insulation is mainly classified into glass wool, rock wool, foamed plastics, and others (aerogel and cellulose acetate). Among types, the rock wool-based acoustic insulation segment is projected to grow at the highest CAGR during the forecast period, in terms of volume, between 2017 and 2022. The market for rock wool-based acoustic insulation is majorly driven by the properties of the material such as high density, excellent sound absorption, fire resistance, heat insulation, and moisture & water repellence. In addition, they are manufactured in various densities and thickness to suit most requirements.
Europe is expected to dominate the Acoustic Insulation Market during the forecast period
Europe dominated the Acoustic Insulation Market in 2016, in terms of volume, followed by Asia Pacific and North America. Developed regions, such as Europe and North America, are relatively mature markets than Asia Pacific, the Middle East & Africa, and South America. The Asia Pacific Acoustic Insulation Market is projected to witness the highest growth rate, in terms of volume, between 2017 and 2022. The market in this region is experiencing an increased demand for acoustic insulation from the building & construction, transportation, manufacturing & processing, and other sectors. In Asia Pacific, India is estimated to be the fastest-growing Acoustic Insulation Market during the forecast period.
Major players in the global Acoustic Insulation Market are Saint-Gobain (France), Rockwool International (Denmark), Knauf Insulation (Germany), Johns Manville Inc. (US), Owens Corning (US), Paroc Group (Finland), Kingspan Group (Ireland), Armacell International (Germany), BASF (Germany), and Fletcher Insulation (Australia).
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