Global Acoustic Insulation Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022
Owing to usage of Acoustic insulation materials intensity of sound emitted is reduced, acoustic insulated building is constructed to prevent the people who are inside from the outside vehicle`s sound. Almost in every industry the Acoustic insulation material is used in order to reduce the sound level of machines and to save workers from many health issue because of large noise. Primarily these materials are used in construction industry. The market of acoustic insulation witnessed a significant growth in the past few years and expected to reach $ 14.02 Billion by 2022, at a CAGR of 6.04% during the forecast period due to increasing population, and rising transportation industry and building insulation market.
This report on acoustic insulation market consist of three commonly used applications: Transportation, Building & Construction and Industrial. The industry of global acoustic insulation is witnessing significant growth due to increasing technological advancements, end-use industry, and increasing demand in the Asia-Pacific region. Materials of Acoustic insulation are majorly used in industry of building and construction . The market of transportation growth is one of the key drivers for this market. Rising use of acoustic materials in commercial and residential building is further driving the acoustic insulation market worldwide.
Building & construction is the major application of acoustic insulation in all over the world. Building regulations and codes, population growth, construction of new buildings, energy costs and sustainability are some of the key drivers for acoustic insulation market. Material of Acoustic insulations like stone wool, glass wool and foamed plastics, are anticipated to show high demand in their respective applications. The majorly consumed acoustic insulation material was stone wool in 2014. The major benefits of stone wool includes easy installation, excellent thermal insulation, increased sound insulating properties and superior fire resistance.
The major driver for acoustic insulation materials consumption is due to the rising demand in developing countries coupled with increasing manufacturer's preference for products of acoustic insulation in transportation applications. The industrial application such as power generation, oil & gas, has a wider scope for its expansion, which in turn would help in rising the consumption for acoustic insulation materials in the coming period.
Increasing demand from Asia-Pacific is a major driver for the acoustic insulation market. Asia-Pacific was the biggest market of acoustic insulation in terms of value in 2015. It is likely to retain the market leadership during coming period. Japan and China are the two major acoustic insulations markets in Asia-Pacific. The Chinese industry of building & construction has the major share in Asia-Pacific, resulting in increase of demand for acoustic insulation due to its increased use in the residential and commercial building part for soundproofing applications. Moreover, high growth in the industry of transportation is due to increased usage in soundproofing applications in the engine components and panels is expected to drive the demand for acoustic insulation in Japan, China, and South Korea.
The key players in this market are Knauf Insulation GmbH (Germany), Saint-Gobain (US), Rockwool International A/S (Denmark), Owens Corning Corporation (US), Armacell (Germany), Johns Manville Corporation (U.S.), BASF SE (Germany), Fletcher Insulation (Australia), Paroc (Finland), and others.
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