What are the Growth Drivers of Acoustic Insulation Market? Owens Corning Corp, BASF, Recticel, Knauf Insulation, Rockwool International A/S, Kingspan Group, K-FLEX, Armacell International S.A.,
The acoustic insulation market is poised to witness remarkable growth in the years to come, owing to the stringent norms & regulatory policies regarding a considerable drop in the atmospheric greenhouse gas emission levels. Rising favorable new housing schemes, along with increasing consumer expenditure, will drive the growth of the overall industry. Also, an escalation in the use of online sales channels for distribution, as well as the rising standard of living, will augment the growth of acoustic insulation market in the coming years.
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According to a new research report by Global Market Insights, Inc. Acoustic Insulation Market size is estimated to surpass USD 17 billion by 2025.
Growth drivers are
1. Steady growth in the construction industry
2. Booming transportation sector
Notable R&D investments made by industry players due to the continuous technological advancements and innovations undertaken by prominent companies will help deliver a strong business outlook. The product demand may also experience an incline owing to the robust growth in the transportation sector due to the rising consumer demands for comfortable driving experience and sound-proof vehicles.
Germany based BASF has recently introduced an innovative non-flammable, mineral-based insulation material for existing buildings that has quick and simple processing. This insulation material consists of 10% organic binder and 90% inorganic parts, and is non-flammable concerning its high share of mineral content. Moreover, no pollutants are emitted by the product, neither when it is in the cavity, nor while drying.
There have been increasing concerns for the comfort level of employees lately, owing to the rising demands for noise-free environments in the commercial buildings. Rapid industrialization and growing construction spending in the developing nations like Brazil, UAE, Saudi Arabia, Mexico, India and Malaysia will thus further reinforce the expansion of this industry. Factors like recovery in construction and building expenditure, stringent building codes, and the need for energy efficient buildings with sound dampening will propel the demand for the acoustic insulation products in the years to come.
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As a part of its exponential growth tactics, Denmark-based Rockwool International had secured permission from the Bridgend County Borough Council for developing a new storage area at its Pencoed site in South Wales. This move would result in an increased onsite capacity for storing and distributing a broad range of insulation products produced at the site, along with improving traffic management.
It also enables excellent moisture adjustment with the environment owing to its open-pore structure, which promotes a comfortable indoor climate. The introduction of such innovative products from prominent industry contenders will drive the demand for the product, which in consequence will steer the growth of the overall acoustic insulation market in the coming years.
This is the second multi-million pound injection from the Rockwool Group, into this site, in the last 10 years. Furthermore, the company will be recruiting for 65 jobs, apart from the 50 new recruits which occurred earlier in the same year. The instance is an apt example of companies undertaking numerous initiatives for ensuring employee safety and comfort, the impact of which is bound to be felt across the overall acoustic insulation market contours.
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The competitive spectrum of this industry is quite diverse, and includes prominent companies like Siderise, Owens Corning Corp., Armacell International S.A., K-FLEX, Kingspan Group, Knauf Insulation, and Recticel, among others.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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