Increasing industrial advancements, technological advancements, and demand for efficient products with excellent sound absorption properties have led various end-use industries to focus on acoustic insulation, thus leading to a rise in its demand. It is widely used in both building & construction and transportation industry (auditoriums, class rooms, media labs, conference halls, lounge & bars, recording studios, disco party halls, door trim panels, door hole seals, vehicle pillars, instrument panels, parcel trays, vehicle trunk, and so on). The global acoustic insulation market is projected to reach USD 15.01 billion by 2022, registering a CAGR of 5.8% between 2017 and 2022. The increasing demand in transportation segment is owing to the soundproofing provided by acoustic insulation against installed sound systems, engines, other machinery sounds, and external noise. However, the lack of proper disposing and recycling techniques is the key challenges faced by the manufacturers of acoustic insulation.
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Key companies profiled in this report are Saint-Gobain (France), Rockwool International (Denmark), Knauf Insulation (Germany), Johns Manville Inc. (US), Owens Corning (US), Paroc Group (Finland), Kingspan Group (Ireland), Armacell International (Germany), BASF (Germany), and Fletcher Insulation (Australia). Rapid technological upgrades in the building & construction industry, coupled with improving standard of living of consumers in developing regions, have encouraged the companies to adopt several business strategies to stay competitive in the global market between 2014 and 2017. Leading companies have adopted acquisitions, joint venture, agreements, new product launches, and regional expansions as their key growth strategies in the global acoustic insulation market.
Saint-Gobain is the leading construction product manufacturing company which designs, produces, and markets building construction materials. The company offers solutions for the major challenges of energy efficiency and environmental protection. The company follows strategies such as expansions and acquisitions to increase its global market share. In June 2016, the company increased its previously acquired share (from 74.9% to 100%) of its subsidiary, ISOROC (Russia), a producer of heat and acoustic insulation. The plant’s capacity exceeds 100,000 tons/year. This development will help the company increase its revenue from the region.
Rockwool International A/S develops and manufactures products and systems based on rock wool. It focuses on building-related products for the insulation industry such as acoustic ceilings and cladding boards. The company mainly follows strategies such as new product launches and expansions to increase its services for the current customer base and optimize its production network. In June 2016, the company started its new production line in Cigacice (Poland), with an investment of USD 89 million. This development will enable the company to increase its production efficiency and improve its product quality with the latest technology installed.
Acoustic insulation mainly reduces noise pollution and provides a safer workplace environment in areas where noise could cause serious hearing damage, whilst improving personal comfort and privacy in working or home environment. This report estimates the market size for acoustic insulation on the basis of end-use industry, type, and region. The global acoustic insulation market is projected to reach USD 15.01 billion by 2022, at a CAGR of 5.8% between 2017 and 2022. The demand for acoustic insulation is primarily driven by stringent regulatory environment and its increasing demand in developing nations. However, the slowdown in the European construction industry is a major restraint for this market.
Europe dominated the acoustic insulation market in 2016, in terms of volume, followed by Asia Pacific and North America. Developed regions, such as Europe and North America, are relatively mature markets than Asia Pacific, the Middle East & Africa, and South America. The Asia Pacific acoustic insulation market is projected to witness the highest growth rate, in terms of volume, between 2017 and 2022. The market in this region is experiencing an increased demand for acoustic insulation from the building & construction, transportation, manufacturing & processing, and other sectors. In Asia Pacific, India is estimated to be the fastest-growing acoustic insulation market during the forecast period.
Acoustic insulation is mainly classified into glass wool, rock wool, foamed plastics, and others (aerogel and cellulose acetate). Based on type, the rock wool-based acoustic insulation segment is projected to grow at the highest CAGR during the forecast period, in terms of volume, between 2017 and 2022. The market for rock wool-based acoustic insulation is majorly driven by the properties of the material such as high density, excellent sound absorption, fire resistant, heat insulation, and moisture & water repellence. In addition, they are manufactured in various densities and thickness to suit most requirements.
Based on the end-use industry, transportation is expected to be the fastest-growing segment in the acoustic insulation market. The high growth rate is driven by the increasing demand from emerging economies such as Japan and China. It can also be attributed to the growing construction and automotive industries in the developing countries of Asia Pacific. The rise in standard of living has triggered the demand for acoustic insulation from the building & construction industry, which has positively influenced the growth of the acoustic insulation market in the region. In addition, increasing adoption of acoustic insulation in various applications provides lucrative opportunities for the market players to increase their competitiveness in the acoustic insulation market.
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