Our in-depth analysis of the soundproof curtains market includes the following segments:
By Header Style
By End User
On the basis of regional analysis, the soundproof curtains market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market for soundproof curtains in Europe is anticipated to hold the largest share in the market on account of presence of leading market players in the region which manufacture and market soundproof curtains. Moreover, the stringent enforcement of environmental regulations to control sound pollution and growing residential and commercial industries in this region further increases the product demand. The market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of rise in infrastructure projects and increasing per capita income in this region. Additionally, expanding construction activities and residential buildings owing to the easy availability of raw material and labor, especially in the countries such as China and India, further raise the demand for soundproof curtains.
The soundproof curtains market is further classified on the basis of region as follows:
Increased advancements in noise blocking and insulating material technology and growing building & construction industry along with the rising demand from commercial and industrial sectors coupled with health and environmental concerns across the globe are some of the significant factors boosting the market growth.
The soundproof curtains market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by material into glass wool, rock wool, fiber glass, natural fabrics and plastic foam. Among these segments, the segment for glass wool is anticipated to hold the leading share in the market on account of its favorable material properties such as non-combustible, non-degradable and flexible along with its provision of better acoustic and thermal insulation compared to other insulating materials.CLICK TO DOWNLOAD SAMPLE REPORT
Rapid Industrialization and Rising Noise Pollution to Boost the Market Growth
The demand for soundproof curtains market is influenced by excess noise and unnecessary sound in the environment owing to continuous traffic, transportation systems, heavy machineries, and rapid industrialization and urbanization. The World Health Organization (WHO) recommends that noise exposure levels should not exceed 70 dB over a 24-hour period, and 85 dB over a 1-hour period to avoid hearing impairment. Further, there is a necessity of noise blocking coverings on windows and doors on account of the growth in residential construction activities and increased number of malls, theaters and airports. Additionally, the market growth is attributed to rising eco-friendly infrastructure and sustainable construction. Moreover, factors such as increased demand for green buildings are anticipated to significantly expand the soundproof curtains market.
The stringent government regulations and limitations imposed on increasing noise levels is anticipated to boost the market growth. The National Institute for Occupational Safety and Health (NIOSH) recommends that the highest permissible level of noise exposure in the workplace should be average of 85 dB over an 8-hour day. The 2018 World Health Organization (WHO) environmental noise guidelines for the European region provide comprehensive guidance on protecting human health from harmful exposure to environmental noise and setting health-based recommendations on average environmental noise exposure.
Growing Health Disorders to Drive the Market Growth
There is a significant rise in health issues such as hearing impairment, sleep disturbance and hypertension, especially in elder population. According to the National Institute for Occupational Safety and Health (NIOSH), hearing loss is the third-most common chronic physical condition among adults in the United States. Further, people are investing a lot on sound blocking and absorbing products owing to these health issues and heavy noise pollution. On the back of these, the soundproof curtains market is predicted to grow over the forecast period.
Safety Concerns and Lack of Awareness
The materials used in the product manufacturing releases high amount of smoke and are also not easily recyclable, as a result, there is always a possibility of catching fire inside the factory premises. Moreover, factor such as lack of awareness pertaining to the soundproof curtains hampers the market growth. This is estimated to hinder the growth of soundproof curtains market in the future.
Price Volatility of Raw Materials
The raw materials required for the production of the soundproof curtains include natural fibers, vinyl and sealants. However, owing to the price volatility of these raw material, there is always an increase in fixed production cost. Such factors are estimated to negatively affect the market growth.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.