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 a report by TechSci Research titled "Global Acoustic Insulation Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028," the global acoustic insulation market is poised for strong growth in the forecast period, projecting a 5.28% Compound Annual Growth Rate (CAGR) through 2028. In the short term, the primary driving factors for this market include government regulations aimed at noise pollution control and a notable increase in the adoption of acoustic insulation materials in residential applications. Additionally, emerging economies are contributing to market growth with rising demand.
The Commercial Construction segment is set to dominate the market, particularly in commercial buildings such as offices, retail spaces, cinemas, and other leisure establishments used by enterprises for their operations. These buildings extensively utilize acoustic insulation materials in walls, floors, ceilings, waste-water pipes, plant rooms, and more. In commercial construction, specific guidelines are in place to mitigate external noise intrusion, internal noise, and noise generated by building services. The choice of insulation varies based on the building's structure and requirements. Notably, commercial construction is thriving in Asia-Pacific, the Middle East, and Africa due to substantial investments in setting up industrial units, hospitals, malls, theaters, the hospitality sector, and the IT industry. For instance, the Indian government's approval of a Production-Linked Incentive (PLI) scheme for 16 key starting materials and active pharmaceutical ingredients plants is expected to lead to substantial investments and drive demand for acoustic insulation materials.
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The Asia-Pacific region is experiencing robust economic performance, making it an attractive market for foreign companies. Countries like India, China, and Indonesia, along with efforts in the Middle East to develop tourism and diversify their non-oil sectors, are driving commercial construction activities in these regions. For example, Saudi Arabia's Vision 2030 plan includes the opening of 80 new hotels with over 11,000 luxurious rooms by 2030. In India, the government's plans to construct 100 airports by 2024 under the regional connectivity scheme (RCS)-Ude Desh ka Aam Nagrik (UDAN) infrastructure scheme are in response to increasing air travel demand, further fueling construction activities and demand for acoustic insulation materials in these countries.
In terms of regions, the Asia-Pacific region is anticipated to be the fastest-growing market, with China leading the way. China's substantial investments in infrastructure and construction are driving the acoustic insulation market, making it the largest economy in the Asia-Pacific region in terms of GDP. Despite certain economic shifts, including an aging population and a shift from investment to consumption and manufacturing to services, China's demand for aviation is rising significantly. This is evident in Airbus's forecasts, indicating substantial growth in China's air traffic and demand for passenger and freighter aircraft. This growth in the aviation sector is further boosting the acoustic insulation market.
Other countries like India and Japan are also contributing to the growth of the acoustic insulation market, and this trend is expected to continue throughout 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 propelled by urbanization and industrialization, leading to increased noise pollution in urban and industrial areas. Stringent noise regulations and growing awareness of the health and well-being effects of noise have driven industries and construction sectors to invest in acoustic insulation materials and solutions. The construction industry's expansion and the focus on energy-efficient and sustainable building practices are further stimulating demand for acoustic insulation. Moreover, technological advancements have resulted in more efficient and cost-effective acoustic insulation solutions, making them increasingly attractive to builders and consumers. The growth of the automotive industry and the emphasis on quieter vehicles are also contributing to the 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, as stated by Mr. Karan Chechi, Research Director at TechSci Research.
The report, titled "Acoustic Insulation Market – Global Industry Size, Share, Trends, Opportunity, and Forecast," is segmented by type (mineral wool, glass wool, polymeric foams, and natural), end-user industry (residential construction, commercial construction, transportation, and industrial), and by region. It covers the period from 2018 to 2028, providing insights into the market's future growth potential, market structure, size, share, and trends. The report is designed to offer cutting-edge market intelligence to aid decision-makers in making informed investment decisions. Additionally, it identifies and analyzes emerging trends, as well as the essential drivers, challenges, and opportunities present in the Global Acoustic Insulation Market.
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