How Substantial is the Acoustic Insulation Market Extent?
The latest intelligence report published by Report Ocean, titled “Acoustic Insulation Market ”2023: Increase in Demand and Opportunities,” offers valuable insights into the industry. The report provides a comprehensive analysis of research and information from various sources, empowering decision-makers worldwide to make a significant impact on the global economy. With a dynamic vision of the market size, statistics, and competitive landscape, the report presents a complete overview of the industry. It covers future trends, growth factors, consumption, production volume, CAGR value, opinions, profit margin, pricing, and industry-validated market data. This report assists individuals and market competitors in predicting future profitability and making crucial decisions for business growth.
Global acoustic insulation market was valued at $9,878 million in 2015, and is expected to reach $14,633 million by 2022, supported by a CAGR of 5.9% during the forecast period 2014 to 2022. Acoustic insulation is defined as a method to attenuate, deaden, or control sound and noise levels for environmental improvement and regulatory compliance. Sound proofing and acoustic insulation materials are used either for noise reduction or noise absorption. Acoustic design is a complex facet of architecture and construction, and it is utilized to manufacture acoustic insulation systems to achieve proper acoustic quality of the buildings. Insulation prevents the transmission of airborne and structural noises between different rooms in a building.
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The global market for acoustic insulation was estimated to be $9,878 million in 2015. The market is driven by the increase in health concerns towards noise pollution, rise in stringent noise pollution standards, growth in construction industry, and energy efficiency advantages provided by insulation materials. The market growth is restrained by low awareness on the importance of acoustics in emerging countries and slowdown of construction sector in Europe.
Who is the largest Key Players of Acoustic Insulation Market worldwide?
The major players profiled in the report are Saint-Gobain SA, Johns Manville, Rockwool International A/S, Owens Corning, Fletcher Insulation, Knauf Gips KG, Trelleborg AB, Paroc Group, Armacell GmbH, and BASF SE. Other companies operating in the acoustic insulation value chain include DuPont Company, 3M Company, Hutchinson Group, JCW Group, Union Foam SpA, Dow Chemical Company, Insumate Ltd, Kingspan Group, Odenwald Faserplattenwerk GmbH, and STEICO SE.
What is the Magnitude of the Acoustic Insulation Market ?
Segment Overview:
The global market for acoustic insulation is segmented based on material type, end user, and geography. Geographically, the market is analyzed across four regions, namely, North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries. Based on material type, the market is divided into stone wool, glass wool, plastic foam, and others. Plastic foam is the most dominant material type in the acoustic insulation market. It possesses excellent sound absorbing and vibration dampening quality that contribute to higher comfort and safety levels. Acoustic insulation from these materials can reduce noise by around 50% in comparison to traditional materials such as bitumen sheet or fiber belt. Stone wool is estimated to be the fastest growing material type due to its higher efficiency, excellent thermal insulation, easy installation, and super fire resistance.
Based on geography, Europe is the major contributor to the revenue, followed by Asia-Pacific. The dominance of Europe is due to the strict building regulation and large transportation market of the region. The European acoustic insulation market generated $3,482 million in 2015 and is estimated to reach $4,795 million by 2022.
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Rise in Health Concerns: Long-term exposure to noise affects the quality of life and physical health in people, resulting in annoyance and even illness. Residential and commercial spaces are exposed to high noise levels, which can cause physical damage to the ear, lead to stress-related illnesses, and other associated symptoms. Customers globally are protecting their buildings throughacoustic insulation to reduce noise annoyance and the negative health effects. The impact of this factor is presently high and is estimated to remain the same over the forecast period.
Stringent Noise Pollution Standards: The market for acoustic insulation is highly impacted by continuous rise in noise pollution-related standards. The World Health Organization (WHO) has formulated several noise guidelines in buildings in Europe, leading to reviewed effects on environmental noise on the health of people and triggering numerous initiatives and raised awareness in the urban population. The materials utilized for acoustic insulation have certain properties that help newly constructed buildings to meet the prescribed acoustic solutions required by current building regulations. The impact of this factor is presently moderate and is estimated to increase over the forecast period.
Construction Industry Growth: The market for acoustic insulation is influenced by the growing construction sector. Over the last few years, the market for new residential construction, remodeling, and repair activity is on a continuous rise as well as the commercial buildings and industrial sectors. U.S., Canada, and developing markets in Asia and Africa have shown major growth of construction industry. The building & construction sector offers lucrative growth opportunities over the forecast period.
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Low Awareness in Developing Regions: Low awareness of acoustic insulation materials in emerging economies and high capital cost of acoustic insulation in building are factors that negatively impact the market. In developing markets such as India, Africa, and other Southeast Asian countries, acoustic insulation is still considered as luxury than a necessity. These markets also show general lack of awareness of acoustics and low awareness of the significant benefits of the most economic insulation. Customers in these countries consider acoustic insulation as only a sound proofing technique, and it is only limited to entertainment rooms in the house. Increase in awareness about acoustics would present growth for this market in these regions.
Acoustic Insulation Market Key Benefits:
The study provides an in-depth analysis of the global acoustic insulation market, with current trends and future estimations to elucidate the imminent investment pockets.
The report provides information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
Porter’s Five Forces Model illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, strength of the buyers, and strength of the suppliers operating in the market.
The value chain analysis signifies the key intermediaries involved and elaborates their roles and value additions at every stage.
The quantitative analysis of the market from 2014 to 2022 is provided to elaborate the market potential.
ACOUSTIC INSULATION MARKET EGMENTATION:
By Material Type
Stone Wool
Glass Wool
Plastic Foam
Others
By End-users
Building & Construction
Residential
Commercial
Industrial
Transportation
Automotive
Aerospace
Marine
Others
BY GEOGRAPHY
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
Market Dynamics:
Market Drivers:
- Increasing emphasis on self-care and wellness, particularly among women. A
- Growing awareness of the health and beauty benefits offered by dietary supplements.
- Rising disposable incomes and willingness to invest in premium health and beauty products.
- Influence of social media and beauty influencers shaping consumer preferences.
- Changing lifestyles and health concerns driving the demand for supplementary nutrition.
Market Restraints:
- Lack of regulatory oversight and quality control in the supplements industry.
- Consumer skepticism and confusion regarding product claims and effectiveness.
- Potential risks and interactions with other medications or health conditions.
- Limited accessibility and affordability of supplements in certain regions.
Market Opportunities:
- Increasing demand for natural and organic supplements.
- Untapped market potential in the Asia-Pacific region.
- Development of innovative formulations and delivery methods.
- Collaborations with beauty brands or influencers for product endorsements.
- Integration of technology to personalize nutrition and enhance consumer experience.
Market Challenges:
- Intense competition among market players.
- Navigating regulatory complexities and meeting regional standards.
- Building trust and credibility with consumers.
- Educating consumers about the benefits and proper usage of supplements.
- Addressing concerns and skepticism regarding the safety and efficacy of supplements.
The report will include answers to the following key questions:
- What are the key current trends that can impact the product life cycle and return on investment?
- How do regulatory changes affect corporate, business, and functional strategies?
- Which initiatives by major players in micromarketing are likely to attract investment?
- What are the recommended frameworks and methodologies for conducting PESTLE analysis?
- In which areas are there emerging opportunities for growth and development?
- Which game-changing technologies will be instrumental in capturing new revenue streams in the near future?
- What operational and tactical frameworks are different players adopting to foster customer loyalty?
- What is the current level of market rivalry, and what is the expected degree of competition in the coming years?
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