Acoustic Insulation Market to Grow Rapidly to Reach USD 14.10 Billion by 2023

Synopsis: Acoustic Insulation Market

Major Key Players in Market:

The key players of acoustic insulation market are:

• ROCKWOOL International A/S (Denmark)
• Knauf Insulation GmbH (Germany)
• Saint-Gobain S.A. (France)
• Owens Corning Corporation (U.S.)
• Johns Manville Corporation (U.S.)
• BASF SE (Germany)
• Paroc Group Oy (Finland)
• Kingspan Group PLC (Ireland),
• Fletcher Insulation (Australia)
• Armacell GmbH (Germany)

Market Forecast:

Acoustic insulation is used either for noise reduction or for noise absorption. The growing demand from the automotive sector, mainly to produce acoustically insulated luxury vehicles, is driving the demand of the market. However, high capital requirement for acoustic insulation in buildings, is a restraint that may hamper the growth of the market.

The Global Acoustic Insulation Market is projected to reach USD 14.10 Billion by 2023, at a CAGR of 5.6% during the forecast period.

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Market Research Analysis

On the basis of regions, global acoustic insulation market is segmented as North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia-Pacific dominates global acoustic insulation market. Growing demand from construction and infrastructure sector is driving the demand of the market in Asia-Pacific region. The increasing disposable income among individuals along with changing life style is also fueling the growth of the market. Asia-Pacific region is expected to be the fastest growing market during the forecast period.

Europe is another major market for acoustic insulation. Building safety codes in countries such as U.K., Germany, and France are driving the demand of the market in the region. North America region contribute significantly in acoustic insulation market during the forecast period.

Scope of the Report

This study provides an overview of the global acoustic insulation market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.

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The scope of the study segments the global acoustic insulation market by its material, application and region.

By Material:

• Stone wool
• Plastic foam
• Glass wool
• Cellulose aerogels
• Others

By Application:

• Construction
• Transportation
• Industrial
• others

By Region:

• North America
• Asia Pacific
• Europe
• Rest of the World

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Market Research Future
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This release was published on openPR.