Acoustic is the science that deals with the study of all mechanical waves in gases, liquids, and solids including vibration, sound, ultrasound, and infrasound. The study of acoustics generally revolves around the generation, propagation, and reception of mechanical waves and vibrations. Acoustic materials are widely used in modern day construction primarily to minimize the intensity of sound emitted. For instance, buildings are insulated with acoustic materials from inside to reduce the noise intensity of the vehicles outside. Acoustic materials are also used in manufacturing industries to lower the sound level of machines and vibrations in order to maintain the safety of workers operating on the shop floor. Furthermore, acoustic materials are capable of offering superior fire resistance along with noise absorption properties.
The global acoustic materials market has been expanding due to the expansion of the construction industry. This is anticipated to be a prime factor fuelling the demand for acoustic materials. The construction industry has undergone steady recovery following the global economic slowdown in 2008 to 2009 and has experienced sustained growth in the aftermath of the financial crisis. Demand for residential construction has exhibited a steady upward curve since the last few years due to the rising disposable income of consumers in developing regions. The quickening pace of immigration into major cities across the world has also added to the rising need for new residential construction. Commercial construction is also likely to expand in the near future due to the increasing number of corporate institutions and rising demand for entertainment and shopping units such as malls and theaters.
Growth in population, increase in rate of urbanization, and expansion in the construction and manufacturing sector output are the major factors driving the acoustic materials market. Growth in the commercial building sector, particularly in emerging economies such as China and India, is a key factor for market growth. Developed regions such as Europe and North America have implemented regulations to promote the effective use of green building materials. Countries such as China and India are also promoting the use of green materials. In Andhra Pradesh (India), the state government implemented the Energy Conservation Building Code (ECBC). Under the ECBC code, commercial and public buildings in the region are expected to cut significant cost and reduce energy usage by about 40% through the effective use of green building materials. Such stringent initiatives and noise reduction regulations in the manufacturing sector are estimated to open up opportunities for the acoustic materials market in the near future.
Based on type, the acoustic materials market can be segmented into absorbers, diffusers, barriers, and isolators. Absorbers, typically, are porous; they redirect sound, causing it to lose energy. Fiberglass, rock wool, open cell polyurethane foam, cellular melamine foam, heavy curtain blankets, and thick fabric wall coverings are some of the sound absorbing acoustic materials. Sound diffusers slash the sound intensity by scattering it over an expanded area rather than eliminating sound reflections as an absorber would do. Barriers are thin layers of dissimilar materials such as gypsum, vinyl, and drywall. These materials are heavy, dense, and massive to prevent sound penetration. Sound isolators are resilient devices that prevent sound transmission not only through the structural steel or concrete, but also plumbing and air handling systems.
Asia Pacific dominates the global acoustic materials market with more than 40% share. Steady growth in construction and manufacturing industries in Asia Pacific are vital for the acoustic materials market in the region. The acoustic materials market in Asia Pacific is also expected to witness significant growth during the forecast period. The concept of building insulation is gaining traction in developing economies as infrastructure development is in the initial phase. The material used for insulating buildings helps in reducing greenhouse emissions and save energy, thus making it popular in residential as well as commercial segments.
Leading companies in the global acoustic materials market include Johns Manville, dB Acoustics Pte Ltd., Rockwool International A/S, E. I. du Pont de Nemours and Company, Bayer AG, Owens Corning, and BASF SE.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.