Global Acoustics Market Estimated to Reach US$ 16,320.09 Mn by 2025 | CAGR 5.85% - TMR

Transparency Market Research has released a new market report titled “Acoustics Market (Material, End-use, and Region) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast -– 2017–2025.” According to this report, the Acoustics market was valued at US$ 9,881.21 Mn in 2016 and is projected to reach US$ 16,320.09 Mn by 2025, at a CAGR of 5.85% from 2017 to 2025.

The field of acoustics can be defined as the science that deals with the production, control, transmission, reception, insulation, and effects of sound. Acoustic materials and products not only help cut down noise pollution, but are also used for effectively distributing sound in indoor areas like residential and commercial construction. Acoustic products can either be manufactured from one material or by using a combination of several types of acoustic materials.

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The acoustic materials market is primarily driven by government regulations aimed at reducing noise pollution. These regulations mean that builders need to use a higher percentage of insulation/ acoustic materials in their construction, thereby driving the demand for the market. Meanwhile, the high cost associated with the purchase and installation of acoustic materials has slowed down the adoption of acoustic materials. However, the migration rate of population from rural to urban areas continues to act as an indicator of the growth of the acoustic material market.

In terms of the type of acoustic materials, the market can be classified into glass wool, stone wool, acoustic fabrics, acoustic insulators, fabric absorbers, fabric dampeners, fabric diffusors, fabric noise barriers, fabric ceilings, foamed plastic, fabric soundproofing materials, and fabric wall materials. Here, foamed plastic held the largest share in the market in 2016 primarily due to its better insulation properties and relatively lower price.

In terms of the end-use of acoustics materials, the market can be classified into building & construction, industrial/HVAC & OEM, and transportation. Here, building & construction occupied the largest market share in 2016 in terms of volume as well as revenue. In case of the end-use segment, building & construction can be further segmented into residential and commercial, with the residential sub-segment occupying the largest share.

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Key players in the global acoustics market are expected to benefit primarily from the development of new applications for acoustic materials as well as from the rising demand in the emerging regions of Asia Pacific, Middle East & Africa, and Latin America. Prominent players in the acoustics market include 3M Inc., Sika AG, Saint-Gobain, Rockwool International A/S, BASF SE, DuPont, Fletcher Insulation, and Knauf Insulation, among others.

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This release was published on openPR.