Press release
Acoustic Insulation Market Growth Forecast, Industry share Report 2017 to 2025
Growing popularity of music studios, gyms & workout centers, sound insulation materials, and sound quality auditoriums are predicted to propel global acoustic insulation market growth over the coming years. According to the Harvard School of Public health, over 47 million houses in U.S. were under-insulated in 2015 and these figures display a strong future growth prospective for the insulation industry in U.S.
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The growth can be attributed to the high demand for sustainable structures from middle-income groups along with rise in urbanization. Its application in transportation industry is predicted to grow at a rate of 6.3% over 2016-2025 due to growing requirement for soundproofing materials by hospitals, schools, and houses.
Cellulose & aerogel insulation market is expected to record a CAGR of 7% over 2016-2025 due to their outstanding sound absorption characteristics and ease of handling. Glass wool acoustic insulation market worth USD 3 billion in 2015, is expected to witness a substantial growth over the period of 2016-2025, owing to its effective lightweight features, high durability, flexibility, and acoustic & thermal properties.
Major acoustic insulation products include extruded polystyrene, glass wool, cellulose & aerogel, and rock wool. Extruded Polystyrene acoustic insulation market revenue is expected to surpass USD 9 billion by 2025, owing to its dense structure and moisture resisting property.
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Construction industry will also play a vital role in APAC acoustic insulation market growth. Construction sector in Asia Pacific accounted for nearly USD 3.5 trillion in 2015. China dominated the Asia Pacific construction market in 2015 by contributing over USD 1.7 trillion to the overall revenue.
Asia Pacific acoustic insulation market worth USD 2 billion in 2015, is predicted to witness a significant growth over 2016-2025 owing to the rising demand for soundproofing vehicles across the automotive sector.
North America market is expected to reach USD 5 billion by 2025 due to strong demand for acoustic insulation products across construction, engineering, industrial, and commercial sectors. U.S. is predicted to contribute significantly towards the overall market revenue of the region.
Europe acoustic insulation market is predicted to witness a high surge over the 2016-2025. Re-insulation of large amount of under-insulated homes in Europe to check noise emission is a major factor predicted to contribute towards the overall revenue of the region.
Source Report: https://www.gminsights.com/industry-analysis/acoustic-insulation-market
Enhancement of brand visibility, geographic expansion, strategic collaborations, and product portfolio improvement will be some of the major growth strategies adopted by the industry participants over the coming years. Key market players include Armacell, Rockwool International Company, Cellecta, SIDERISE, Owens Corning Company, AFICO, Knauf Insulation Company, Paroc, Kingspan Group, and Fletcher.
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