Commercial Construction is Expected to Dominate the Global Acoustic Insulation Market
Government Regulations for Controlling
Noise Pollution and a Surge in the Adoption of Residential Applications are a
major factor attributable to the growth of the market.
According to TechSci Research report, “Global
Acoustic Insulation Market - Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”.
The Global Acoustic Insulation is
anticipated to project robust growth in the forecast period with a CAGR of 5.28% through 2028, Over the short term,
government regulations for controlling noise pollution and a surge in the
adoption of residential applications are the major factors driving the market
studied. Also, a rise in demand from emerging economies boosts market growth.
Based on End-user Industry, Commercial Construction
segment to Dominate the Market. The commercial buildings include offices,
retail, cinema, and other leisure outlets used for conducting operations of the
enterprises where 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 its structure and need.
Commercial construction is growing noticeably in Asia-Pacific, the Middle East,
and Africa. Asia-Pacific, Middle East, and African countries are experiencing
huge domestic and foreign investments for setting up industrial units,
hospitals, malls, theaters, the hospitality industry, and the IT sector. For
instance, India's government approved a PLI scheme for 16 plants for key
starting materials (KSMs)/drug intermediates and active pharmaceutical
ingredients (APIs). Establishing these 16 plants would result in a total
investment of INR 348.70 crore (USD 47.01 million). The commercial development
of these plants is expected to begin by April 2023. Therefore, increasing
investments from commercial and industrial units in India are expected to
create significant demand for acoustic insulation materials.
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Asia-Pacific is an attractive market for
foreign companies due to the healthy economic performance of the countries like
India, China, Indonesia, etc., and efforts made by the Middle Eastern countries
to develop tourism and other non-oil sectors. They are driving commercial
construction activities in these regions. For instance, in Saudi Arabia, under
Vision 2030, 80 new hotels with more than 11,000 luxurious rooms are expected
to open across Saudi Arabia by 2030. Therefore, increasing investments in the
construction of hotels is expected to create demand for the acoustic insulation
market. Moreover, in India, the Minister of State, Civil Aviation, announced
that under the regional connectivity scheme (RCS)-Ude Desh ka Aam Nagrik (UDAN)
infrastructure scheme, the Indian government also planned to construct 100
airports by 2024, owing to increasing demand for air commute. Hence, all such
commercial construction investments and projects are driving construction
activities in these countries, increasing the demand for acoustic insulation.
Based on Region, Asia Pacific to be the
Fastest Growing Market. China holds the largest Asia-Pacific market share for
acoustic insulation due to rising investments and construction activity. China
is the biggest contributor, as it is one of the leading investors in
infrastructure worldwide over the past few years. For instance, according to
the National Bureau of Statistics (NBS) of China, in 2022, the output value of
construction works in China amounted to CNY 27.63 trillion (USD 4108.58
billion), an increase of 6.6% compared with 2021. China is the largest economy
in the Asia-Pacific region in terms of GDP. The growth in the country remains
high. However, it is gradually diminishing as the population ages, and the
economy is rebalancing from investment to consumption, manufacturing to
services, and external to internal demand. Furthermore, China will overtake the
United States as the world’s biggest air travel market within the next three
years. Still, the country’s appetite for aviation continues to grow
exponentially. For instance, during a French state visit to China, Airbus
signed new cooperation agreements with China's Aviation industry partners.
According to Airbus, over the next 20 years, China’s air traffic is forecast to
grow at 5.3% annually, significantly faster than the world average of 3.6%. It
will lead to a demand for 8,420 passenger and freighter aircraft between 2023
and 2041, representing more than 20% of the world's total demand for around
39,500 new aircraft in the next 20 years. It is due to the rising aircraft
fleet throughput further augmenting the development and growth of the acoustic
insulation market.
Furthermore, countries such as India and
Japan contribute to the studied market growth. It is expected to further drive
the demand for acoustic insulation over the forecast period.
Key market players in the Global Acoustic Insulation Market are following:-
- 3M
- Armacell
- BASF SE
- Cabot Corporation
- Cellecta
- CSR Limited
- Dow
- Dynamic composite technologies
- Fletcher Insulation
- Insultech, LLC
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“The global acoustic insulation market
is primarily driven by urbanization and industrialization, which have led to
increased noise pollution in cities and industrial areas. Stringent noise
regulations and a growing awareness of the adverse effects of noise on health
and well-being are compelling industries and construction sectors to invest in
acoustic insulation materials and solutions. The construction industry's
expansion, coupled with a focus on energy-efficient and sustainable building
practices, further fuels the demand for acoustic insulation. Additionally,
advancements in technology have led to more efficient and cost-effective
acoustic insulation solutions, making them increasingly attractive to builders
and consumers. The automotive industry's growth and the emphasis on quieter
vehicles have also driven demand for acoustic insulation materials. In summary,
factors such as urbanization, regulations, construction growth, sustainability,
and technological advancements are the key drivers propelling the global
acoustic insulation market.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
Acoustic
Insulation Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast Segmented by type (mineral wool, glass wool, polymeric foams, and
natural), end-user industry (residential construction, commercial construction,
transportation, and industrial), By Region, Competition 2018-2028 has evaluated the future
growth potential of Global Acoustic
Insulation Market and provides statistics and information on market structure,
size, share, and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Acoustic Insulation Market.
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