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Architectural Acoustic Panels Market Size, Share Analysis, Growth Trends And Global Forecast To 2033
Architectural Acoustic Panels Market
According to The Business Research Company's, The architectural acoustic panels market size has grown steadily in recent years. It will grow from $9.69 billion in 2023 to $10.1 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to precision agriculture, cost efficiency, global population growth, efficiency and productivity gains, reduced environmental impact, demonstration of roi..
The architectural acoustic panels market size is expected to see steady growth in the next few years. It will grow to $12.11 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to continued labor challenges, global climate change impact, smart farming initiatives, rise in adoption of specialty crops, global food security concerns, favorable government policies.. Major trends in the forecast period include autonomous harvesting machinery, advancements in robotics and ai, integration of sensor technologies, remote monitoring and control, data-driven decision making, collaborative industry partnerships..
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Market Drivers and Trends:
The rise in construction activities is expected to propel the growth of the architectural acoustic panels market going forward. The rise in construction activities refers to an increase in building projects and infrastructure development in a particular region or country. This could be driven by factors such as population growth, urbanization, and economic development. As construction activities increase, the demand for buildings with improved acoustics also increases. This is particularly important in densely populated urban areas where noise pollution is a significant problem. For instance, in 2021, according to U.S. Census Bureau, the federal government's largest statistical agency, an estimated 1,595,100 housing units were started in 2021, that increased by 15.6% from 1,379,600 in 2020 in the US. Therefore, the rise in construction activities is driving the growth of the architectural acoustic panels market.
Product innovations are a key trend gaining popularity in the architectural acoustic panels market. Companies operating in the architectural acoustic panels market are innovating new products to sustain their position in the market. For instance, in August 2021, Arup, a UK-based network infrastructure provider, and Mogu, an Italy-based design firm launched FORESTA, the world's first mycelium acoustic panel systems. FORESTA system is a modular, biophilic wall system that incorporates mycelium-based panels, along with living plants and other natural materials, to create a healthy and sustainable indoor environment. The Foresta system is designed to improve indoor air quality, acoustics, and aesthetics while also reducing energy consumption and waste. The mycelium-based panels used in the Foresta system provide excellent sound absorption, thermal insulation, and fire resistance, while the living plants and other natural materials help to purify the air and create a calming and biophilic atmosphere.
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Major Key Players of the Market:
AWI Licensing LLC; BEIYANG Building Material Co. Ltd.; G&S Acoustics Inc.; Knauf Insulation Inc.; Guangdong Liyin Acoustics Technology Co. Ltd.; Star Brand Youshiji Building Materials Co. Ltd.; Compagnie de Saint-Gobain S.A.; Green Acoustics; Hebei Borunde Building Materials Co. Ltd.; Hunter Douglas Group; Jiangsu Burgeree New Technology Materials Co. Ltd.; Vicoustic; Badische Anilin- und Sodafabrik SE; Fischer Profil GmbH; ArcelorMittal S.A.; 3A Composites; Arconic Corp.; Armacell GmbH; Kingspan Group; Trelleborg AB; Fletcher Building Ltd.; Owens Corning; Paroc Group OY; Rockwool International A/S; ItalPannelli S.R.L; Johns-Manville Corporation; Ingreen Systems Corp.; Armstrong World Industries Inc.; Abstracta Inc.; MBI Products Company
Architectural Acoustic Panels Market 2024 Key Insights:
• The architectural acoustic panels market size will grow to $12.11 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%.
• Rise In Construction Sector To Drive Market Growth
• Product Innovations Transforming The Architectural Acoustic Panels Market
• Asia-Pacific was the largest region in the architectural acoustic panels market in 2023
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