Acoustic Insulation Material Market Is Expected To Grow At A CAGR of 5.9% 2017-2024 | Huge Growth Opportunities With Impact Analysis of COVID-19


News provided by

Kenneth Research

Jun 08, 2020, 11:47 EST


New York, United States, Jun 08, 2020, 11:47 /Comserve / -- The global acoustic insulation material market is expected to grow at a steady CAGR of 5.9% over the forecast period. The market is expected to reach a valuation of about USD 18.2 Billion by the end of 2024.

According to recent research study conducted by Kenneth Research, Global acoustic insulation material market is expected to grow at a steady CAGR 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.

“The CAGR value Could change due to COVID-19 Pandemic”

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.

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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.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

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.

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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.

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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional 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

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 (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

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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.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

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WHAT IS THE SCOPE OF THE REPORT WITH IMPACT OF COVID-19?

This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.

WHICH MARKET DYNAMICS AFFECTS THE BUSINESS DURING COVID-19?

The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.

  • Key Topic Covered in this Report
  • Market Growth Opportunities
  • Leading Market Players
  • Market Size and Growth Rate
  • Market Growth Drivers
  • Company Market Share
  • Market Trends and Technological Innovations
  • Impact Analysis of COVID-19 (CORONA Pandemic) on Global Market

"The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market)."

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