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Acoustic Insulation Material Market By Product Type ( Rock wool, Glass Wool, Plastic Foam and others); By Application (Building & Construction, Industrial, Transportation) - Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation

Published On : April, 2018 REP-ID-581 Category: Chemicals and Materials

Acoustic Insulation Material Market

Acoustic insulation material refers to the material which provides sound proofing to the building, automotive vehicles and others. Acoustic insulation material is used for noise reduction or noise absorption. Acoustic insulation material is widely adopted by commercial building. Acoustic insulation materials help to curb noise around 50% as compared with traditional materials such as bitumen sheet or fiber belt.

Market Size and Forecast

Global acoustic insulation material market is expected to grow at a steady compound annual growth rate of 5.9% over the forecast period. Further, the market is expected to reach at a valuation of about USD 18.2 Billion by the end of 2024. Moreover, rising penetration of acoustic insulation materials to maintain the decorum of the corporate office, intuitional buildings and others is driving the growth of the global acoustic insulation material market across the globe.

The global acoustic insulation material market is segmented by product type, by application and by region. On the basis of application, the global acoustic insulation material market is segmented into building & construction, industrial, and transportation. Among these segments, building & construction acoustic insulation material segment accounted for the largest segment of overall acoustic insulation material market in 2016 and is projected to witness a notable CAGR during the forecast period. Moreover, rising commercial infrastructural development such as institutional building, cooperate offices and others is believed to augment the demand for acoustic insulation material which in turn expected to foster the growth of global commercial acoustic insulation material market. Moreover, rock wool segment by product type is projected to capture the significant share in the overall market of acoustic insulation material market. Further, the factors propelling the market of rock wool acoustic insulation material includes high thermal properties along with acoustic padding fire resistance properties.

In the terms of region, Asia-Pacific accounts for highest percentage of market share in overall acoustic insulation material market in 2016. Asia-Pacific region is witnessing rapid pace urbanization and increasing construction activities in growing economies such as India and China is expected to flourish the growth of acoustic insulation material market. Further, rising adoption and demand of acoustic insulation material by commercial building is boosting the growth of acoustic insulation material market in Asia-Pacific region. Further, Japan, China and India are expected to be the major contributor to the growth of Asia-Pacific acoustic insulation material market during the forecast period due to rapid growth of real estate sector in these countries.

Acoustic Insulation Material

North America is expected to grow at a significant CAGR over the forecast period. Further, rising spending on non-residential construction activities in this region is anticipated to foster the growth of acoustic insulation material market. Moreover, government is taking favorable initiatives for the adoption of acoustic insulation material in instructional building and others. This factor is envisioned to bolster the growth of acoustic insulation material market. Further, U.S. is anticipated to be the major country witnessing the augmented demand for acoustic insulation material. However, Canada acoustic insulation material market is anticipated to grow at a noteworthy CAGR of 4.9% during the forecast period.

Europe is expected to grow at a considerable growth during the forecast period. This can be attributed to the rising regulations by governments to control noise inside a building. Further, Western Europe countries such as Germany, U.K. and others are believed to witness augmented demand for acoustic insulation material.

Market Segmentation

Our in-depth analysis segmented the global acoustic insulation material market in the following segments:

By Product Type

  • Rock wool
  • Glass Wool
  • Plastic Foam
  • Others

By Application

  • Building & Construction
    • Residential
    • Commercial
  • Industrial
  • Transportation
    • Automotive
    • Aerospace
    • Marine
    • Others

By Region

Global acoustic insulation material market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and North Africa (GCC, North Africa, South Africa and Rest of Middle East) Market Size and Y-O-Y Growth Analysis

Growth Drivers and Challenges

Spiked growth of construction industry in emerging economies is the major factor driving the growth of the global acoustic insulation material market. Rising spending on non-residential construction activities in developed regions is envisioned to bolster the growth of the global acoustic insulation material market over the forecast period. Further, acoustic insulation material such as rock wool is widely adopted by commercial building due to limit the noise inside the building. In addition to this, rising health concerns towards noise pollution is also anticipated to propel the growth of acoustic insulation material market in the upcoming years.

Apart from this, innovation and development of advanced acoustic insulation materials such as rock wool, glass wool is expected to spur the growth of this market over the forecast period.  Moreover, urbanization in developing region have surged the demand for residential building along with upgraded lifestyle of the consumers have augmented the demand for noise free building which in projected to foster the growth of acoustic insulation material market by the end of 2024. Moreover, growing high net worth individual population across the globe is projected to flourish the growth of acoustic insulation material market.

However, dearth of awareness regarding acoustic insulation material in underdeveloped regions is estimated to hinder the growth of acoustic insulation material market.

Key players

  • Johns Manville
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Rockwool International A/S
  • Owens Corning
  • Fletcher Insulation
  • Knauf Gips KG
  • Trelleborg AB
  • Saint-Gobain S.A.
  • Paroc Group Oy
  • Armacell GmbH
  • BASF SE

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global acoustic insulation material market is segmented as follows:

  • By Product Type Market Size & Y-O-Y Growth Analysis
  • By Application Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

key Players

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