SAN FRANCISCO, Jan. 10, 2022 /PRNewswire/ -- The global building acoustic insulation market size is expected to reach USD 6.2 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.3% from 2021 to 2028. Rising investment in infrastructure, stringent building code, energy efficiency, and increasing living standards are augmenting the growth of the market.
Key Insights & Findings from the report:
- By product, foamed plastic held the largest revenue share in 2020 owing to its low cost and high performance. The material provides excellent comfort by providing efficient sound absorption and vibration dampening
- The non-residential application segment led the market in 2020. Growing noise pollution and increasing concerns over the comfort levels have triggered the demand for building acoustic insulation materials
- Asia Pacific is expected to register the fastest growth rate over the forecast period owing to growing residential and commercial construction and remodeling, coupled with rising awareness regarding product benefits among the urban population
- The market is competitive due to the presence of major companies involved in product manufacturing. The market is characterized by a significant consumer base across the globe, with the companies operating their businesses through dedicated distribution networks
Read 90 page market research report, "Building Acoustic Insulation Market Size, Share & Trends Analysis Report By Product (Glass Wool, Rock Wool, Foamed Plastic), By Application (Residential, Non-residential), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
The market is witnessing significant growth on account of an increase in regulatory standards related to noise pollution and stringent energy efficiency and fire safety policies, which often call for greater insulation usage in buildings. These products are anticipated to gain popularity owing to the growing construction projects in the residential, commercial, educational, and industrial sectors.
The market is expected to witness internal substitution, wherein aerogel is expected to act as a replacement for glass wool as the product offers ease of installation and high performance in terms of durability and efficiency. However, the product is currently being used only in high-end applications owing to its high cost. With R&D initiatives in place to significantly reduce its cost, aerogel is expected to act as an excellent substitute for current materials.
The industry is concentrated with a few top players and is characterized by a diversified product portfolio, continuous developments, and increasing regional reach. However, a large number of small players are expected to enter the market owing to the increasing product demand in the non-residential sector.
Grand View Research has segmented the global building acoustic insulation market on the basis of product, application, and region:
- Building Acoustic Insulation Product Outlook (Revenue, USD Million, 2017 - 2028)
- Glass Wool
- Rock Wool
- Foamed Plastic
- Building Acoustic Insulation Application Outlook (Revenue, USD Million, 2017 - 2028)
- Building Acoustic Insulation Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
List of Key Players of Building Acoustic Insulation Market
- Compagnie de Saint-Gobain S.A.
- Owens Corning
- Rockwool International
- Armacell International S.A.
- Kingspan Group plc
- Knauf Insulation
- Johns Manville
- Fletcher Insulation
- International Cellulose Corporation
- Hush Acoustics
- L'Isolante K-Flex S.p.A.
- Arabian Fiberglass Insulation Company Ltd.
Check out more studies related building and construction materials, published by Grand View Research:
- Acoustic Insulation Market – The global acoustic insulation market size was valued at USD 9.33 billion in 2015. Increasing awareness regarding noise pollution, health awareness, and rising standard of living are likely to have a remarkable impact on the global acoustic insulation industry growth.
- Insulated Concrete Form (ICF) Market – The global insulated concrete form (ICF) market size was estimated at USD 815.5 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.7% from 2020 to 2028. Rising acceptance of insulated concrete forms in temperate regions including Europe and North America on account of their superior thermal insulation properties is expected to drive their demand.
- Glass Facade Market – The global glass Facade market size was valued at USD 67.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.9% from 2021 to 2028. Growing investments in green building construction projects are anticipated to propel product usage over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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