Acoustic Insulation Market size is estimated to surpass USD 17 billion by 2025. Surging concerns for employee comfort levels owing to a demand rise for noise-free environments in the commercial buildings will provide a positive scope for industry expansion. Rapid industrialization & increasing construction spending in the developing economies such as Malaysia, India, Mexico, Saudi Arabia, UAE, and Brazil will further support the industry expansion.
Factors such as stringent building codes, recovery in building & construction expenditure, and the requirement for energy efficient buildings with sound dampening will augment the acoustic insulation demand up to 2025.
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Stringent regulatory policies & norms pertaining to a substantial reduction in atmospheric greenhouse gas emission levels will provide a positive scope for industry expansion. Increasing consumer expenditure along with favorable new housing schemes in both developed and developing countries will drive the overall acoustic insulation industry growth. Also, rising standard of living coupled with the upsurge in the utilization of online sales channels for distribution will augment the acoustic insulation market up to 2025.
Significant R&D investments made by industry participants owing to continuous innovations and technological advancements within the industry will provide a strong business outlook. For instance, the R&D expense of Recticel Insulation increased from USD 15.35 million in 2016 to USD 16.34 million in 2017. Rapid growth of the transportation sector owing to rising consumer demands for sound-proof vehicles and comfortable driving experience will further boost the product demand up to 2025.
Fiberglass/Glass Wool segment will witness CAGR at over 5% in terms of revenue up to 2025. Significant sound absorption properties achieved through minor air or gas pockets provide a positive outlook for the product demand. In addition, major features such as corrosion-resistance and high resistance to the extreme temperatures will further propel the segment industry growth. Robust growth in building construction spending coupled with stringent building regulations with a major emphasis on sustainability and efficient energy usage will promulgate the segment growth in the industry.
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Transportation segment dominated the industry share and accounted for over 25% of the overall demand in 2018. Increasing usage of the product in automotive vehicles, railways and airports areas will result in increase in the product demand. Growing demands for vehicles with low engine noise have enabled manufacturers to develop vehicles with increased automotive soundproofing, thus leading to the increasing use of acoustic products in vehicles.
Asia Pacific is expected to be the fastest growing acoustic insulation market registering a CAGR over 5.5% from 2018 to 2025. Rapid urbanization with the introduction of projects by the government in tier-I and tier-II regions particularly in the Asia Pacific is likely to drive construction chemicals demand. Following the recent focus on fire safety in high-rise buildings in countries including China and Japan the demand for non-combustible stone wool products is expected to witness substantial growth in the region.
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BASF, Recticel, Knauf Insulation, Rockwool International A/S, Kingspan Group, K-FLEX, Armacell International S.A., Owens Corning Corp., and Siderise are among major acoustic insulation manufacturers. Global industry share is fragmented with the presence of large manufacturers and regional players. The manufacturers are involved in mergers & acquisitions, production capacity expansions, new product launches to gain competitive share. For instance, in February 2018, Owens Corning announced the acquisition of Paroc Group, a European mineral wool production company to expand the product portfolio of the company.