Acoustic Insulation Industry Size, Share, Demand & Growth by 2033
The acoustic insulation industry is maneuvering on account of surging consumer interest in acoustic insulation, for residential and commercial purposes. The commercial buildings incorporate retail, offices, cinema, and other leisure outlets to conduct operations of companies. Acoustic insulation materials are widely used in floors, waste-water pipes, walls, ceilings, plant rooms, etc.
The global acoustic insulation industry is
forecast to expand at 5.8% CAGR over the estimated time period, as
per FMI’s analysis. The industry’s size is predicted to reach a market value
of US$ 15,061.4 million in 2023.
Commercial buildings follow specific guidelines to
prevent internal noise, external noise intrusion, and noise from building
services. Nonetheless, the kind of insulation required in commercial buildings
differs on the basis of the building structure and its requirements. Commercial
construction has been expanding at a substantial pace in the Asia Pacific and
the Middle East and Africa.
The market growth may be stalled by oscillating prices
of acoustic insulation’s raw materials. Another hindrance to the market is the
high capital cost and low awareness of acoustic insulation in emerging
economies.
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These regions are observing high foreign and domestic
investments to establish industrial units, multiplexes, malls, hospitals, the
IT sector, and the hospitality industry. The Asia Pacific is a lucrative market
for foreign companies. This can be attributed to the strong economic
performance of economies like Indonesia, China, India, etc. Additionally,
Middle Eastern countries are expected to witness growth on account of
developing tourism and other non-oil sectors in the region. Thus, fueling
commercial construction activities in the Middle East and Africa.
Top Highlights from the FMI’s Analysis of
Acoustic Insulation Market:
- The
North America acoustic insulation industry is projected to acquire more
than 28.1% market share in 2023. The United States acoustic insulation
industry leads the regional market as well as the global space.
- The
Europe acoustic insulation industry gained a 20.8% value share in 2022.
The German acoustic insulation industry procured a 9.1% market share in
2022.
- The
United Kingdom’s acoustic insulation industry is expected to expand at a
4.1% CAGR from 2023 to 2033.
- The
Japan acoustic insulation industry is projected to gain more than 6.5%
market share in 2023.
- The
India acoustic insulation industry is projected to register 6.5% CAGR and
China is anticipated to register 4.1% CAGR over the forecast period.
- Based
on type, foamed plastic is anticipated to acquire more than 25.4% value
share in 2023.
- On
the basis of the end-use industry, the transportation segment is expected
to garner more than 28.4% market share in 2023.
About the Chemicals and Materials Division
at Future Market Insights (FMI)
The chemicals and materials division of Future Market
Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and
materials industry. This exhaustive coverage extends from commodity, bulk,
specialty, and petrochemicals to advanced materials, composites, and
nanotechnology in particular, with special emphasis on ‘green alternatives,
recycling and renewable technology developments, and supply-demand-trade
assessment. Our research studies serve as referencing market guidelines for
chemical manufacturers, research institutions, channel partners, and government
bodies for developing — ‘The Way Forward’.
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