Acoustic Materials Market 2023 Global Key Player; BASF SE, 3M Company, The Dow Chemical Company, Covestro AG, Huntsman International LLC, Henkel AG & Co. KGaA, E. I. du Pont de Nemours and Company, Toray Industries, Inc., LyondellBasell Industries N.V., a

Synopsis of Acoustic Materials Market:

Acoustic Materials are majorly used to reflect or absorb the sound waves coming from different sources. These materials have major applications in residential and non-residential buildings and heavy machinery containing industries.

Some of the prominent factors that positively influence the growth of Acoustic Materials Market are increasing mainstream industries such as oil & gas, chemicals and automotive owing to suppress the industrial machinery noise, rising demand for Acoustic Materials in housing industry owing to provide peaceful indoor environment, and increasing urbanization results into building new commercial properties. Increasing urbanization along with rising per capita disposable income in developed and emerging economies are predicted to drive the growth of the market over the forecast period, 2017 to 2023. Performing world-class research on advanced acoustic systems and intelligent acoustic processing, giving birth to new technologies with tremendous exploitation potential is expected to drive the market over the forecast period. Moreover, continuous expansion of automotive sector as well as shifting manufacturers focus towards engine noise cancellation vehicles are estimated to fuel the growth of the market during the review period, 2017 to 2023. However, growing environmental concern regarding the toxic effect of chemicals used in Acoustic Materials along with the implementation of strict regulations are predicted to hinder the market growth over the assessment period, 2017 to 2023.

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Key Players:

 BASF SE
 3M Company
 The Dow Chemical Company
 Covestro AG
 Huntsman International LLC
 Henkel AG & Co. KGaA
 E. I. du Pont de Nemours and Company
 Toray Industries, Inc.
 LyondellBasell Industries N.V.
 Sika AG

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Intended Audience

• Acoustic Materials Manufacturers
• Traders and Distributors of Acoustic Materials
• Production Process Industries
• Potential Investors
• Raw Material Suppliers
• Nationalized Laboratory

Regional Analysis:

The Global Acoustic Materials Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow with the highest CAGR during the review period, 2017 to 2023 on account of expanding construction industry. The demand for Acoustic Materials is predicted to surge in numerous countries of the Middle East & Africa such as Iraq, the United Arab Emirates, Saudi Arabia, Iran, and Kuwait due to increasing construction projects. Moreover, the presence of established travel & tourism industry which is considered to be the top contributors to total gross domestic product (GDP) and it is anticipated to burgeon over the forecast period.

North American Acoustic Materials Market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In North American region, the U.S. is predicted to be the major contributor in the global growth of Acoustic Materials Market and is expected to see a significant demand for Acoustic Materials during the forecast period, 2017 to 2023. As of 2016, the U.S accounts for the largest market share in terms of value & volume and is estimated to grow with the moderate CAGR owing to the rising demand in for Acoustic Materials in the industries. In Europe, the demand for Acoustic Materials is predicted to grow in various countries such as Italy, Germany, Spain, U.K, France, and Russia on account of increasing expenditure in innovation and growing purchasing power of consumers. Moreover, presence of major automobile manufacturers specifically in Germany is expected to give a momentum to the market growth. Furthermore, high-quality acoustic materials will provide exceptional vibration insulation and absorption is luring the automotive manufacturers in order to provide comfort and luxury. Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in acoustic materials. Asia Pacific acoustic materials market is predicted to grow with the higher CAGR due to developing construction and petroleum industries especially in India and China. Moreover, continuous growth of automotive sector in various economies of Asia Pacific such as China, India, Malaysia, Thailand, and Japan is expected to raise the demand for acoustic materials which in turn is predicted to fuel the demand for Acoustic Materials over the forecast period, 2017 to 2023.

Segmentation:

The Global Acoustic Materials Market is categorized on the basis of material, end use industry, and region. On the basis of material, the market is bifurcated into polyurethane foam (PU), Glass Fiber, acrylonitrile butadiene styrene (ABS), polypropylene, polyvinyl chloride (PVC) and others. On the basis of application, the acoustic materials market is categorized into industrial, residential, commercial, automotive parts; heating, venting and air conditioning (HVAC), and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

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