|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
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The acoustic insulation market is expected to register a CAGR of over 5%, during the forecast period. The major factors driving the market studied include the growing interest of consumers for acoustic insulation, for commercial and residential purposes. Stagnant industrial growth in the developed countries is expected to significantly hinder the growth of the market studied.
- Asia-Pacific is expected to dominate the global market, during the forecast period.
- Demand for aesthetic prospects and fire-resistant properties for acoustic insulation is likely to act as an opportunity, in the future.
Scope of the Report
The acoustic insulation market is segmented by type, end-user industry, and geography. By type, the market is segmented into Mineral Wool, Glass Wool, Polymeric Foams, and Natural. By end-user industry, the market is segmented into Residential Construction, Commercial Construction, Transportation, and Industrial. The report also covers the market size and forecasts for the acoustic insulation market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
Key Market Trends
Rising Demand from the Commercial Construction
- The commercial buildings include buildings used for offices, retail, cinema, and other leisure outlets used for conducting operations of the enterprises.
- In commercial buildings, acoustic insulation materials find extensive application in walls, floors, ceilings, waste-water pipes, plant rooms, etc.
- In commercial buildings, there are certain guidelines to avoid external noise intrusion, internal noise, and noise from building services. However, the type of insulation required in the building varies according to the building structure and its need. Commercial construction has been growing at a noticeable pace in Asia-Pacific and Middle East & Africa.
- Asia-Pacific and Middle East & African countries are experiencing huge domestic as well as foreign investments for setting up industrial units, hospitals, malls, multiplexes, hospitality industry, and IT sector.
- Asia-Pacific is an attractive market for foreign companies, due to healthy economic performance of the countries, like India, China, Indonesia, etc., and efforts made by the Middle Eastern countries to develop its tourism and other non-oil sectors, which are driving commercial construction activities in these regions.
- The Indian government has also set an investment target of USD 120.5 billion for developing 27 industrial clusters; this is expected to boost commercial construction in the country.
- China is witnessing the construction of numerous airports in the country, which are either under planning or development phases. In addition, Indian government has also been planning to construct 100 airports by 2032, owing to increasing demand for air commute.
- Hence, all such commercial construction investments and projects have been driving construction activities in these countries, along with the consumption of acoustic insulation materials for application in commercial construction.
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China to Dominate the Demand in the Asia-Pacific Region
- China is the largest economy in the entire Asia-Pacific region, in terms of GDP. The growth in the country remains high but is gradually diminishing, as the population is aging, and the economy is rebalancing from investment to consumption, manufacturing to services, and external to internal demand.
- The first year of China’s 13th Five-year Plan (2016) was an important year for the country’s engineering, procurement, and construction (EPC) industry, as it ventured into new business models, both domestically and internationally.
- There has been an increase in investments in the transportation sector in the recent past. China’s transport ministry and National Development and Reform Commission (NDRC) plans to invest in coming years in many key transportation projects, which include railways, highways, waterways, airports, and urban rail.
- Automotive continues to remain the largest sector in the country and is reflecting positive signs for the near future. The large number of Tier I producers are either in the process of expanding their production or starting new production facilities in the country.
- The production is expected to reach 30 million units by 2020, owing to the “Made in China 2025” initiative, which supports in upgrading the existing low cost mass production to higher value-added advanced manufacturing. “Automobile Mid and Long Term Development Plan” was released in the April 2017 with an objective to make China a strong auto power in next decade.
- Furthermore, countries, such as India and Japan, have also been contributing to the growth of the market studied. This is expected to further drive the demand for acoustic insulation, over the forecast period.
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The global acoustic insulation market is consolidated among the top 5 players. Rockwool is the largest player in the global scenario and enjoys a strong footprint in Europe, Asia-pacific, and the North American regions. The company has around 45 manufacturing facilities spread across 39 countries. Other major players in the market include Kingspan, Owens Corning, Saint-Gobain, BASF SE, Lanxess, Knauf Insulation, and Johns Manville, among others.
- In July 2020, Insultech, LLC. has announced the completion of its expansion at its plant in Yuma, Arizona of the United States, effectively doubling manufacturing space at the site. The new site will be dedicated to the production of foil encapsulated insulation blankets for industrial, transportation, and aerospace applications.
- In August 2019, 3M has planned to expand its production facility at Latkrabang Industrial Estate of Thailand, such that to produce Thinsulate acoustic insulation material, considering the demand from the Asia-Pacific region.
- In May 2019, Saint-Gobain has acquired Pritex, a key player in acoustic and thermal insulation solutions made from polymer-based composite materials and intended for the mobility market.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Government Regulations for Controlling Noise Pollution
4.1.2 Growing Interest of Consumers for Acoustic Insulation for Commercial and Residential Purposes
4.2.1 Stagnant Industrial Growth in the Developed Countries
4.2.2 Impact of COVID-19
4.2.3 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1.1 Mineral Wool
5.1.2 Glass Wool
5.1.3 Polymeric Foams
5.2 End-user Industry
5.2.1 Residential Construction
5.2.2 Commercial Construction
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.2 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle-East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 BASF SE
6.4.3 Cabot Corporation
6.4.5 CSR Building Products Ltd
6.4.6 Dynamic Composite Technologies
6.4.7 Fletcher Building Limited
6.4.8 Insultech, LLC.
6.4.9 Johns Manville
6.4.10 Kingspan Group
6.4.11 Knauf Insulation
6.4.13 L'isolante K-Flex SpA
6.4.14 Owens Corning
6.4.15 Recticel Insulation
6.4.18 Siderise Group
6.4.19 Xella Group (Ursa Insulation)
6.4.20 Zeon Kasei Co Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Demand for Aesthetic Prospects and Fire-resistant Properties for Acoustic Insulation
7.2 Increasing Usage of Stainless Steel Wool for Sound Dampening
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Frequently Asked Questions
What is the study period of this market?
The Acoustic Insulation Market market is studied from 2016 - 2026.
What is the growth rate of Acoustic Insulation Market?
The Acoustic Insulation Market is growing at a CAGR of >5% over the next 5 years.
Which region has highest growth rate in Acoustic Insulation Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Acoustic Insulation Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Acoustic Insulation Market?
Rockwool, Owens Corning, Kingspan Group, Armacell, Saint-Gobain are the major companies operating in Acoustic Insulation Market.