Acoustic Insulation Market Size By Product (Fiberglass/Glass Wool, Mineral Wool, Plastic Foam [EPS, XPS]), By Application (Building & Construction, Industrial, Transportation), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025
Published Date: Feb 2019 | Report ID: GMI802 | Authors: Kiran Pulidindi, Soumalya Chakraborty
Global Acoustic Insulation Market size was valued at over USD 12 billion in 2018 and is anticipated to witness over 4.5% CAGR up to 2025.
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Growing demand for sound absorption materials in the entertainment industry including music studios, corporate workplaces, cinema halls, and auditoriums will provide a positive scope for acoustic insulation market penetration during the forecasted timeframe. Increasing focus for improving the building infrastructure to offer peaceful and convenient environment in public places has led to a rise in installation of sound barriers across the highways, construction sites, airport runways, railway stations etc. Further, constructive indicators from the workout centres, gyms, industrial sound absorption, control rooms, cabinets, and shipbuilding segments hold potential opportunities for the product growth globally.
Increasing awareness among the consumers regarding noise pollution coupled with rapid growth in the construction sector across emerging economies such as South Korea, India, Mexico, and Saudi Arabia will stimulate the acoustic insulation market landscape. Stringent government regulations for reducing the adverse effects of high noise levels along with a rising standard of living will boost the demand for soundproofing material requirement in the residential & commercial buildings across the globe.
Demand for better noise, vibration, and harshness (NVH) levels from the consumers along with extensive competition between automotive manufacturers for inclusion of acoustic products will boost the product demand from the transportation segment. To offer innovative solutions, leading manufacturers are investing heavily in R&D, which will further result in reduction of noise pollution and eco-friendly environment. For instance, as per the recent technology trends, Restored Hearing Ltd., an Irish company, has created a sound bounce material which is 35 times more effective than other sound absorbing materials. The sound bounce material has a strong business potential in numerous sectors such as construction, manufacturing, and transportation that require better and efficient sound insulation products.
Considering future challenges and to minimize sound pollution, government has updated various guidelines for construction industry which will further ensure for environment sustainability. Also, policies & regulations pertaining to the reduction of carbon footprint and reduced usage of synthetic fibres that cause respiratory & skin problems will increase the product demand or will support the industry growth. For instance, as per the European Council Directive on Dangerous Substances 67/548/ EEC, dangerous substances including flammable substances, oxidizing agents, irritants, carcinogens, and mutagens are prohibited to be included in the manufacture of sound absorption materials.
|Base Year:||2018||Market Size in 2018:||12 Billion (USD)|
|Historical Data for:||2013- 2017||Forecast Period:||2019 to 2025|
|Forecast Period 2019 to 2025 CAGR:||4.5%||2025 Value Projection:||1.4 Billion (USD)|
|Pages:||320||Tables, Charts & Figures:||421|
|Geographies covered (27):||U.S, Canada, Germany, UK, France, Italy, Russia, Netherlands, Spain , Belgium , Sweden , China, India, Japan, Australia, Malaysia, Indonesia, Thailand, South Korea, Vietnam, New Zealand, Brazil, Argentina, Mexico, South Africa, UAE, Saudi Arabia|
|Segments covered:||Product and Region|
|Companies covered (20):||ROCKWOOL International A/S, Knauf Insulation, Johns Manville, Armacell International S.A., Kingspan Group, Owens Corning Corp., BASF, Twiga, K-FLEX, Lloyd Insulations (India), Arabian Fiberglass Insulation Co. Ltd., Fletcher Insulation, Cellecta Ltd., Acoustic Insulation Manufacturing Limited (AIM), Hush Acoustics, Tap Acoustics, Siderise, Recticel Insulation, Mag-Isover, Nichias Corporation|
|Pitfalls & Challenges:||
Acoustic Insulation Market, By Product
Plastic foam dominated the market share and accounted for over 40% of the overall demand in 2018. Features such as lightweight and heat & sound absorption properties make the product suitable for decorative applications including interior ceilings of hotels, theatres, hospitals, conference halls, etc. Growing demand of the EPS plastic foams in numerous industrial and transportation domains across emerging economies, such as India, Mexico South Africa, and South Korea, will augment the industry size. Furthermore, key benefits including fast & low-cost installation, effective absorption of shearing forces, efficient fire resistance, and CFC& halogen-free properties, will proliferate the overall acoustic insulation market demand.
Fiberglass/Glass wool product segment may witness significant gains at over 5% by 2025. Growth in construction spending coupled with stringent regulations with a major emphasis on sustainability and efficient energy usage will promulgate the segment growth in the industry. In addition, key features such as being odourless, having a natural brown tinge, fire-resistance, manufacture via recycled glass bottles, softer texture, and lower energy consumption will further influence the product demand.
Acoustic Insulation Market, By Application
Building & Construction segment accounted for more than 35% of the total acoustic insulation market share in 2018. Shifting trends towards environment-friendly buildings offering efficient acoustic and thermal insulation required in residential, commercial, and industrial applications will fuel industry growth. Superior properties of insulation materials including high fire safety, dimensional stability, ecological compatibility, and chemical resistance are among the key factors positively influencing the product demand.
Transportation is projected to witness over 5% gains from 2019 to 2025. Surging popularity of the acoustic non-woven fabric technology in the automotive industry has significantly enhanced the scope for industry expansion. Rapid technological advancements and continuous innovations in the automotive sector owing to the rising concerns for disturbance-free driving experiences will stimulate acoustic insulation market growth. Moreover, significant growth in the production of passenger & commercial vehicles owing to rising disposable incomes of consumers will further provide a strong business outlook for the overall market growth.
Acoustic Insulation Market, By Region
Europe accounted for more than 30% of the overall Acoustic Insulation demand in 2018. Rising awareness of green construction, IoT and smart infrastructure in the region is expected to augment the product demand up to 2025. Growing awareness among government authorities and construction industry will provide positive scope for the product penetration in the region. Stringent environmental regulations in European countries towards the inclusion of acoustic insulation products in school buildings will propel the product demand. For instance, UK government has the Building Bulletin 93 regulation requiring minimum acoustic performance standards for the construction of school buildings.
Asia Pacific will witness the fastest growth with a CAGR at 5% in the acoustic insulation market by 2025. Rising disposable income coupled with extensive product utilization in the building & construction, industrial, and transportation segments in the region are key factors driving industry growth. Surging government investments in numerous industrial & commercial projects pertaining to fire and sound absorption will stimulate the market share. Rapid surge in infrastructural activities along with the growing noise pollution in several metropolitan cities will proliferate the acoustic insulation market demand in the region.
Competitive Market Share
Global acoustic insulation market is fragmented due to the presence of many domestic participants along with a few major global players. Key industry players include BASF, Kingspan Group, Knauf Insulation, Rockwool International A/S, K-Flex, Armacell International S.A., Owens Corning Corp., Siderise, and Recticel. They rely on strategies such as mergers & acquisition, product development, geographical expansion, technological innovation and sourcing strategies to enhance their industry share. For instance, in October 2017, Kingspan announced the acquisition of Isoeste, a Brazilian insulation panel company, to serve the growing demand for acoustic products from the Latin American region.
Global acoustic insulation market is driven by rapid innovations & technological development in the construction, industrial and transportation sector. Shifting consumer preferences toward construction of green buildings coupled with surging preferences toward usage of environment-friendly sound absorption products will stimulate the market over the forecast timeframe. Developing economies such as China, India, Mexico, and Brazil will substantially impact the product development owing to large customer base coupled with inclining preferences towards noise-free buildings and quiet environment requirements in hospitals and educational institutions. Other notable participants include Mag-Isover, Nichias Corporation, Tap Acoustics, Hush Acoustics, Acoustic Insulation Manufacturing Limited (AIM), Cellecta Ltd., Arabian Fiberglass Insulation Co. Ltd., Lloyd Insulations (India), Twiga, and Johns Manville.
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