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The global acoustic insulation market is expected to secure US$ 3.5 Billion in 2021. The market is projected to garner US$ 16.8 Billion in 2032 while expanding at a CAGR of 15.2% during the forecast period. Increased affordable capabilities of the middle-class population are expected to have played a major role in driving the market in the assessment tenure.
The growing focus to develop building infrastructure to offer a convenient environment in public areas has resulted in a surged sound barrier installation across various sectors like railways, highways, airport runaways, stations, and others.
Also, increasing product launches is another salient cause driving the market. For instance, in January 2021, Armacell disclosed a strategic partnership with German TITK Group and Melamine. Armacell announced to manufacture competent insulation products with melamine resin-based nonwovens.
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It is flame and UV-resistant. In another instance, in August 2020, Armacell rolled out ArmaGel DT acoustic insulator. It gives exceptional low thermal conductivity and high acoustic performance and has lessened insulation thickness against its other insulation counterparts. With the launch of such updated and advanced products, the market is anticipated to expand in the coming time.
On the other hand, the sluggish growth of construction activities in Europe is likely to act as a significant hindrance to market growth. Also, volatility of raw materials and high demand for raw materials containing greenhouse gases are some of the other causes impeding industry growth. However, with the advent of aerogel, the market is anticipated to counter the hampering cases, aiding in market expansion.
Key players in the global acoustic insulation market include Saint-Gobain, Knauf Insulation, Soprema, Armacell International, and Rockwool International A/S, among others. Recent developments among players include:
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Key Segments Covered in the Acoustic Insulation Market Survey
Acoustic Insulation by End Use Industry:
Future Market Insights, in its new offering, presents an unbiased analysis of the global acoustic insulation market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
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Key Segments Covered in the Acoustic Insulation Market Survey
Acoustic Insulation by End Use Industry:
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