Global Acoustic Insulation Market 2017-2021
About Acoustic Insulation
Acoustic insulation prevents or reduces the sound transmission by using acoustic insulation materials. It helps to prevent or minimalize the surrounding sound from the interior or exterior spaces by creating a barrier between them. The sound waves are transmitted through the building structures such as ceilings, walls, and floors by creating vibrations. Acoustic insulation materials convert the sound and vibration energy into minor heat energy and thus helps in soundproofing. The choice of acoustic insulation materials and its design are the critical aspects to be considered for the efficient acoustic insulation. Acoustic insulation reduces airborne noise transferring through voids and cavities; and is mainly employed in building and construction, transportation, and industrial end-user industries. Acoustic insulating materials possess unique sound absorption properties and thus decreases the sound and acoustic reverberation.
Technavio’s analysts forecast the global acoustic insulation market to grow at a CAGR of 5.83% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global acoustic insulation market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Acoustic Insulation Market 2017-2021
Technavio recognizes the following companies as the key players in the global acoustic insulation market: 3M, Knauf Insulation, Owens Corning, Rockwool International, and Saint-Gobain
Other Prominent Vendors in the market are: Acoustical Surfaces, Armacell, BASF, Fletcher Insulation, HUTCHINSON, Johns Manville, and Paroc Group.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is APAC dominating the market. APAC is the fastest growing market for the acoustic insulation products worldwide. It is mainly due to the substantial economic growth, rise in construction activities, and increase in disposable income of consumers. The rapid increase in development and industrialization in China, India, and Japan is the primary driving factor for acoustic insulation products in this region. The prosperous construction industry is also boosting the growth of the acoustic insulation market in the province.”
According to the report, one of the major drivers for this market is Growth in construction sector. In terms of revenue, the global construction industry is anticipated to reach $12 trillion during the forecast period. Four emerging and growth-leading economies (EAGLEs) of the world is in APAC, namely China, India, Indonesia, and the Philippines. The emerging markets compete with each other in terms of quality of infrastructure. Apart from these nations in APAC, Malaysia and Vietnam are also considered as likely developing markets. Singapore is one of the principal markets conferring to the quality of infrastructure.
Further, the report states that one of the major factors hindering the growth of this market is Low awareness about acoustic insulation. Low awareness of the use of acoustic insulation and advancements in the technology is the key challenging factor for the global acoustic insulation market. High capital cost required for the installation of acoustic insulation is also an added factor influencing the market negatively. The perception of people toward acoustic insulation as a luxury rather than a necessity is likely to obstruct the market growth during the forecast period.
3M, Knauf Insulation, Owens Corning, Rockwool International, Saint-Gobain, Acoustical Surfaces, Armacell, BASF, Fletcher Insulation, HUTCHINSON, Johns Manville, and Paroc Group.