Published: Jun, 2018
The global acoustics market is predicted to gain considerably in the forthcoming years, according to a report by Transparency Market Research (TMR). The market’s competitive ecosystem features several regional as well as international players, making the market fragmented in nature currently. Prominent vendors dominate the market to a large extent on account of their wide geographical presence and high production capacities. The vendors in the market are expected to compete on factors such as product price, differentiation, technology, and product innovation, in order to thrive in the stiff competition presented by competitors. Prominent names in the global acoustics market include Rockwool International A/S, 3M Inc., Fletcher Insulation, Sika AG, and Knauf Insulation.
According to TMR, the global acoustics market stood at US$9,881.21 in 2016 and is forecasted to rise at a 5.85% CAGR from 2017 to 2025.
Based on material type, foamed plastic accounted for the leading share in 2016 owing to advantages of its insulation properties and relatively low cost. Geography-wise, Asia Pacific is anticipated to remain a lucrative market for acoustics in the near future. This is mainly because the region is home to some key developing economies in the world.
Technical Advances in Acoustic Materials to Augment Demand
The innovation and development of advanced acoustic materials such as rock wool, glass wool is expected to spur the growth of this market over the forecast period. Moreover, urbanization in developing regions have augmented the demand for residential structures along with improved lifestyle of the consumers have resulted in a surge in the demand for noise free buildings which in projected to foster the growth of acoustics market. Key players in the global acoustics market are expected to benefit primarily from the development of new applications for acoustic materials as well as from the rising demand in the emerging regions.
Increased Need for Noise Insulation to Provide Rich Growth Opportunity
Owing to the increasing noise pollution and surrounding sounds, the acoustics are getting disturbed which causes harmful effects on human health. Noise pollution can cause several mental and psychological disorders such as cardiovascular diseases, hearing problems and permanent loss, sleep disturbances, hypertension, and physiological losses. The ECBC code mandates to reduce energy consumption by 40% by means of green building materials.
As a result, there are now stringent regulations in place for energy conservation and noise reduction, which are anticipated to bode well for the acoustics market in the upcoming years. Factors such as rapid industrialization resulting in a demand for reducing high decibel sound originating from the machinery, rising demand from residential applications owing to the need for dampening the outdoor sounds, and increasing expenditure on research activities are expected to boost the global acoustics market. Additionally, the surge in automobile production and sales along with rising consumption of acoustic materials is estimated to fuel the market.
High Product Cost to Hamper Market Development
Meanwhile, the high cost associated with the purchase and installation of acoustic materials has slowed down the adoption of acoustic materials. Additionally, need of scientific and technological expertise for the production and installation of acoustic materials has slowed their adoption.
However, the migration rate of population from rural to urban areas continues to act as an indicator of the growth of the acoustic material market. Moreover, growing high net worth individual population across the globe is projected to flourish the growth of acoustics market over the forecast period.
This review is based TMR’s report titled, “Acoustics Market (Material - Glass Wool, Stone Wool, Acoustics Fabrics, Acoustic Insulators, Fabric Absorbers, Fabric Dampeners, Fabric Diffusors, Fabric Noise Barriers, Fabric Ceilings, Foamed Plastic, Fabric Soundproofing Materials, and Fabric Wall Materials; End-use - Building and Construction (Residential and Commercial), Industrial/HVAC & OEM, and Transport (Automotive, Marine, and Aerospace)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025..”Top of Form
The market is segmented along the following lines:
Global Acoustics Market: By Material
- Glass Wool
- Stone Wool
- Acoustic Fabrics
- Acoustic Insulators
- Fabric Absorbers
- Fabric Dampeners
- Fabric Diffusors
- Fabric Noise Barriers
- Fabric Ceilings
- Foamed Plastic
- Fabric Soundproofing Materials
- Fabric Wall Materials
Global Acoustics Market: By End-use
- Building & Construction
- Industrial/HVAC & OEM
Global Acoustics Market: By Region/Country/Sub-region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to industry leaders, consultants, and strategy professionals.
Our reports are single-point solutions for industries to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These demands are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for client-specific problems with right methodology of research is the key to help enterprises reach right decision.
U.S. Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453