Published: Dec, 2018
The demand within the global market for acoustics has been rising on account of the wide portfolio of acoustic products available in the market, finds Transparency Market Research (TMR). The global market for acoustics has rid itself of the menace of outbound marketing as market vendors resort to innovative marketing hacks to attract consumers. The past decade has been a phase of revolutionary growth for the vendors in the global acoustic market, and the leading vendors have attracted a huge consumer base in these years. Hence, it is safe to predict that the position of the leading vendors in the global market for acoustics remains unchallenged in the current scenario.
Despite the solidified growth of the leading vendors, the market for acoustics has been witnessing the entry of newbie vendors over the past few years. Although these small vendors have failed to challenge the position of the leading market players, the former have set their roots in local and regional markets. It is expected that the leading vendors in the global market for acoustics would avert the entry of new players by forming strategic partnerships. Furthermore, the strong position of these vendors gives them the option of exerting pressure on industries and government to impose restrictions on the entry of new vendors.
A report by Transparency Market Research (TMR) finds that the global market for acoustics would expand at a steady CAGR of 5.85% over the period between 2017 and 2025. Furthermore, the global market for acoustics had a net value of US$9,881.21 in 2016, and this figure is expected to escalate by multiple times in the years to come. On the basis of end-use industry, the constructions sector has been a key consumer of acoustic materials. North America hosts a huge consumer base for the global market for acoustics due to the presence of a sophisticated commercial and industrial sector in the region.
- Need for Sound-Proof Spaces to Propel Demand
The demand within the global market for acoustics has been rising on account of the need for sound-insulation in multiple industries. Office spaces, production houses, industrial units, libraries, and study areas need to have sound-proof doors, windows, and ceilings which has created commendable demand within the global market for acoustics. Furthermore, the availability of a wide range of sound insulation materials such as stone wool, fabric absorbers, fabric noise barriers, and fabric ceilings has also aided the growth of the global market for acoustics. It is expected that the global market for acoustics would expand alongside advancements in the entertainment, sound, and media industries. The need to create a desired sound effect and reflect sound at varying frequencies for movies and short films is another standpoint from the perspective of market growth.
- High Cost of Deployment to Hamper Growth
Despite the affluent growth dynamics of the global market for acoustics, the growth of this market is restrained by the high cost of deployment for acoustics. The construction of sound-insulated areas is a capital-heavy task which has discouraged a number of industries from resorting to it. This has taken a huge consumer base away from the global market for acoustics, thus, restraining market growth. Nevertheless, the high-end industries with huge paying capacity are expected to keep building sound proof spaces and enclosures in the years to come.
The review is based on TMR 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”.
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
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