The global acoustic insulation market size is estimated at USD 14.1billion in 2021 and is projected to reach USD 17.1 billion by 2026, at a CAGR of3.9%. Slowdown in the growth of European construction industry, along with the fluctuating raw material prices are the major restraining factors for the acoustic insulation market.
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Acoustic insulation simply can be stated as soundproofing and is defined as the ability of the insulation material to reduce the sound pressure with respect to a specified sound source and receptor. Armacell International (Germanyand Saint Gobain (France) have a strong emphasis on R&D and have developedvarious types of acoustic insulation.
Based on type, the acoustic insulation market is classified into mineral wool, glass wool, foamed plastics, elastomeric foams, and others. Other types are further segmented into aerogels and cellulose. The growing demand for cost-effective and efficient acoustic insulation productsis driving the demand for thesetype of acoustic insulation in the market.
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Based on end user, building and construction industry captures the larger part of market share in terms of volume and value during the forecast period, followed by transportation, oil & gas, and energy & utilities industries. The major building parts, including flat roofs, pitch roofs, external walls, internal walls, cavity walls, and floors, are manufactured using acoustic insulation. Thus, the growth of building and construction segment of the market can be attributed to the rapid urbanization and continuously growing population across the globe. Moreover, an increase in the number of residential and commercial projects being commissioned and tendered in various emerging economies across the globe could provide opportunity for acoustic insulations during the forecast period.
Europe is the largest and fastest-growing market for acoustic insulations in terms of value and volume. The increasing demand for residential and commercial spaces and growing industrialization, infrastructure and transportation are driving the market in the region. The regulations regarding the control of noise pollution in industries, as well as commercial and residential construction, is also supporting the growth in use of acoustic insulation in the region. However, Growing need for eco-friendly chemical formulations, awareness of the product,and increasing incidences of patent copying are the major challenges for the growth of the acoustic insulation market between 2021 and 2026.
