The acoustic insulation industry share is maneuvering on account of surging consumer interest in acoustic insulation, for residential and commercial purposes. The commercial buildings incorporate retail, offices, cinema, and other leisure outlets to conduct operations of companies. Acoustic insulation materials are widely used in floors, waste-water pipes, walls, ceilings, plant rooms, etc.
The global acoustic insulation industry is forecast to expand at 5.8% CAGR over the estimated time period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of USD 15,061.4 million in 2023.
Commercial buildings follow specific guidelines to prevent internal noise, external noise intrusion, and noise from building services. Nonetheless, the kind of insulation required in commercial buildings differs on the basis of the building structure and its requirements. Commercial construction has been expanding at a substantial pace in the Asia Pacific and the Middle East and Africa.
The market growth may be stalled by oscillating prices of acoustic insulation’s raw materials. Another hindrance to the market is the high capital cost and low awareness of acoustic insulation in emerging economies.
These regions are observing high foreign and domestic investments to establish industrial units, multiplexes, malls, hospitals, the IT sector, and the hospitality industry. The Asia Pacific is a lucrative market for foreign companies. This can be attributed to the strong economic performance of economies like Indonesia, China, India, etc. Additionally, Middle Eastern countries are expected to witness growth on account of developing tourism and other non-oil sectors in the region. Thus, fueling commercial construction activities in the Middle East and Africa.
Top Highlights from the FMI’s Analysis of Acoustic Insulation Market:
- The North America acoustic insulation industry is projected to acquire more than 28.1% market share in 2023. The United States acoustic insulation industry leads the regional market as well as the global space.
- The Europe acoustic insulation industry gained a 20.8% value share in 2022. The German acoustic insulation industry procured a 9.1% market share in 2022.
- The United Kingdom’s acoustic insulation industry is expected to expand at a 4.1% CAGR from 2023 to 2033.
- The Japan acoustic insulation industry is projected to gain more than 6.5% market share in 2023.
- The India acoustic insulation industry is projected to register 6.5% CAGR and China is anticipated to register 4.1% CAGR over the forecast period.
- Based on type, foamed plastic is anticipated to acquire more than 25.4% value share in 2023.
- On the basis of the end-use industry, the transportation segment is expected to garner more than 28.4% market share in 2023.
Innovation Watch: Key Developments in the Market
- Insultech, LLC declared that it has completed the expansion of its plant, situated in Yuma, the United States, in July 2020. The company efficiently doubled its manufacturing area at the site. This site is dedicated to producing foil-covered insulation blankets for transportation, industrial, and aerospace applications.
- 3M expanded its manufacturing unit in August 2019 at the Latkrabang Industrial Estate of Thailand. The unit is set to develop Thinsulate acoustic insulation material at a large scale to cater to the increasing demand from the Asia Pacific region.
- Saint-Gobain procured Pritex, which is a leading player, offering thermal and acoustic insulation solutions, in May 2019. The solution is composed of polymer-based composite materials, made for the mobility market.
Key Segments Covered in the Acoustic Insulation Market Survey
By Type:
- Glass Wool
- Rock Wool
- Foamed Plastic
- Elastomeric Foam
By End Use Industry:
- Building and Construction
- Transportation
- Oil & Gas and Petrochemicals
- Energy & Utilities
- Industrial & OEM
By Region:
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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