Dublin, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The "Building Acoustic Insulation Market Size, Share & Trends Analysis Report By Product (Glass Wool, Rock Wool, Foamed Plastic), By Application (Residential, Non-residential), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global building acoustic insulation market is projected to reach a value of USD 6.81 billion by the year 2030, with an anticipated Compound Annual Growth Rate (CAGR) of 5.3% from 2023 to 2030. This growth is attributed to several key factors:
- Rising Construction Activities: The market growth is driven by increased residential and non-residential construction activities worldwide. As more buildings are being constructed, the demand for acoustic insulation to reduce noise pollution and improve sound quality within these structures is on the rise.
- Infrastructural Developments: Growing investments in infrastructure projects, such as roads, bridges, and public buildings, contribute to the demand for building acoustic insulation. These projects often require adherence to noise reduction regulations, driving the need for effective acoustic insulation solutions.
- Energy-Efficient Properties: There is a rising awareness among residents and building owners about the benefits of energy-efficient properties. Acoustic insulation plays a role in improving energy efficiency by enhancing the thermal performance of buildings and reducing the need for excessive heating or cooling.
- Renovation and Retrofitting: The need for renovating and retrofitting existing buildings is increasing, and acoustic insulation is often a key component of these projects. This is particularly important in urban areas where existing structures need to be upgraded to meet modern noise reduction standards.
- Comfortable Interior Spaces: Demand for comfortable and noise-free interior spaces is growing across various sectors, including residential, commercial, and hospitality. Acoustic insulation helps create pleasant indoor environments by reducing noise disturbances.
- Evolving Regulations: Different countries are introducing and enforcing regulations related to maintaining required acoustic levels in properties. Compliance with these regulations further drives the adoption of building acoustic insulation.
- Innovations in Technology: Manufacturers are adopting new technologies in the production of acoustic insulation materials, allowing for better sound absorption at lower frequencies. This technology not only provides better performance but also contributes to lower operational costs.
- Mergers and Acquisitions: Key players in the market are using strategies like mergers, acquisitions, and collaborations to expand their market presence and offer a diverse range of products.
The market is segmented by product type, application, and region. Foamed plastic is expected to be one of the fastest-growing segments due to its lightweight nature, superior sound absorption, and other desirable properties. Non-residential applications dominate the market, especially in segments such as offices, hotels, malls, and warehouses.
North America and the United States, in particular, hold a significant share of the market, driven by the growing awareness of soundproofing advantages in residential buildings and increased construction activities.
Overall, the building acoustic insulation market is expected to see steady growth in the coming years, fueled by ongoing construction projects, regulatory requirements, and the increasing importance of comfortable and energy-efficient indoor spaces.
Market Dynamics:
- Market Drivers:
- Rising Construction Industry: The growth of the global construction industry, both residential and non-residential, is a significant driver for the building acoustic insulation market. Increasing building activities create a higher demand for noise reduction and soundproofing solutions.
- Urbanization and Population Growth: Rapid urbanization and population growth have led to increased construction of residential and commercial properties, driving the need for acoustic insulation to ensure comfortable living and working environments.
- Energy Efficiency Trends: The emphasis on energy-efficient buildings has led to a focus on insulation, including acoustic insulation, to enhance thermal performance and reduce energy consumption.
- Renovation and Retrofitting: The need to renovate and retrofit existing structures to meet modern standards and regulations for noise reduction boosts the demand for acoustic insulation solutions.
- Regulatory Compliance: Evolving regulations and standards related to noise pollution and indoor acoustic quality in various countries drive the adoption of acoustic insulation materials.
- Market Restraints:
- Environmental Concerns: Some traditional insulation materials may raise environmental concerns due to their composition, production methods, and disposal. This can lead to the preference for eco-friendly alternatives.
- High Initial Costs: The initial costs associated with installing acoustic insulation can sometimes deter budget-conscious builders or property owners.
- Competition from Alternative Solutions: Other noise reduction solutions, such as soundproof windows and doors, can compete with acoustic insulation in some applications.
- Market Opportunities:
- Innovative Materials: Continued research and development in insulation materials can lead to the discovery of new, more effective, and environmentally friendly options.
- Growing Demand for Sustainable Solutions: The trend towards sustainability and green building practices creates opportunities for acoustic insulation manufacturers to develop eco-friendly products.
- Market Challenges:
- Changing Building Designs: Modern architectural designs sometimes prioritize open spaces and minimalistic aesthetics, which can pose challenges for effective acoustic insulation.
- Competitive Landscape:
The global building acoustic insulation market is competitive, with several key players dominating the industry. Some of the prominent companies include:
-
- Saint Gobain S.A.
- Owens Corning
- Rockwool A/S
- Armacell
- Kingspan Group
- Knauf Insulation
- BASF SE
- Johns Manville
- Fletcher Insulation
- Cellecta Inc.
These companies are actively engaged in research and development, strategic collaborations, mergers and acquisitions, and product innovations to strengthen their market presence.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 107 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $4.51 Billion |
| Forecasted Market Value (USD) by 2030 | $6.81 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/iq6ixt
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