The acoustic insulation market size is projected to reach USD 15,061.4 million in 2023. With the growing demand for acoustic insulations across various end-user industries, the market graph is likely to shoot up. The market is likely to garner USD 26,550.8 million by 2033 while exhibiting a CAGR of 5.8% from 2023 to 2033.
Rapid industrialization and growing awareness of noise pollution is expected to drive market growth significantly. Also, with growing disposable income in developing nations, the market is likely to experience considerable expansion in the forecast period.
| Attributes | Details |
|---|---|
| Acoustic Insulation Market CAGR (2023 to 2033) | 5.8% |
| Acoustic Insulation Industry (2022) | USD 14,454.3 million |
| Acoustic Insulation Market (2023) | USD 15,061.4 million |
| Acoustic Insulation Market (2033) | USD 26,550.8 million |
| Acoustic Insulation Industry Attraction | Improving the standard of living and rapid development in infrastructural activities in emerging economies is expected to propel the market. |
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Growing Focus on Developing Building Infrastructure to Augment the Market Size
Increased affordability of the middle-class population has resulted in spiked demand for various comforts. Acoustic insulation lessens external disturbances caused due to traffic and other sources. It has various other benefits apart from acoustic advantages. Other benefits include better thermal and fire resistance and lesser energy demand, among others. Owing to such advantages, acoustic insulation has been gaining traction amongst emerging economies such as India, China, Japan, and others.
The rising focus on enhancing the building infrastructure to provide a convenient environment in public places has resulted in increased sound barrier installations across construction sites, highways, railway stations, airport runaways, et al.
Increased acquisitions and partnerships amongst players in the industry are another significant cause driving the market. For instance, in January 2021, Armacell announced a strategic partnership with the German TITK Group and Melamine. The company chose to produce effective insulation products with melamine resin-based nonwovens.
These products are UV and flame-resistant. In another instance, in August 2020, Armacell launched ArmaGel DT acoustic insulator. It gives extraordinarily high acoustic performance and low thermal conductivity and has lowered insulation thickness as opposed to its other insulation counterparts. With the launch of such updated and advanced products, the market is expected to flourish in the coming time.
According to the analysis, the slowdown in the European construction sector is expected to hinder market growth in the forecast period. According to Eurostat, construction activities in 2020 decreased by 2.3% in the Euro area, and 2.1% in the EU, as against the 2019 construction activities in the region.
In addition, the annual average production in 2020 fell by 5.7% as compared to 2019. Civil engineering has significantly reduced by 3.8%, building construction by 1.8% in 2020 in the Euro area, while the EU experienced a 4.2% fall in civil engineering and building construction by 1.5%.
Other than this, volatile raw material processes and the application of raw materials containing greenhouse gases are other projected factors hindering the market in the forecast period.
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There is a significant demand for glass wool in home buildings and pipelines. However, there are certain constraints associated with glass wool since they contain carcinogens. The emergence of aerogel as a replacement is expected to offer significant opportunities to the market in the coming time. Aerogel is 1/3rd the size and weight of glass wool but 37 times more competent than glass wool. The cost of aerogel is expected to lessen in the coming time with rising research and development activities.
Aerogel is comparatively a new material in the market as compared to other materials like glass wool, EPS, and others. These materials are cost-effective. However, the manufacturing process of these materials is easier than that of aerogel, which is cost-effective. However, with continuous efforts in Research and Development activities, players can offer cost-effective production of aerogel. This is expected to provide opportunities to the market players in the market.
The market generated a revenue of USD 12,475.2 million in 2018 and USD 14,454.3 million in 2022. In the historical period, the market expanded at a CAGR of 3.7%.
Different factors stimulating the market have been identified as:
By the end of the forecast period, the market is expected to reach USD 26,550.8 million by 2033. Over the forecast period, the market is projected to register 5.8% CAGR. Heightened expenditure on infrastructural development in emerging countries is projected to fuel the demand for acoustic insulation. The surge in industrial activities is also projected to be a catalyst in the growth of the acoustic insulation industry.
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| Segment | Foamed Plastic |
|---|---|
| Market Share (2022) | 25.4% |
According to the analysis, by type, the foamed plastic segment is anticipated to dominate the market in the forecast period. The segment is expected to exhibit a CAGR of 4.3% in the forecast period. The expansion of the segment can be attributed to its characteristics such as lightweight and heat & sound absorption properties. Foamed plastic experiences significant demand from hotels, hospitals, theaters, and conference halls, among others.
On the other hand, by end-use segment, the building & construction category is anticipated to grow at a 4.1% CAGR during the forecast period. Growth of the segment can be credited to factors like new developing technologies and improvement in sources of sound at homes. Also, growing awareness about noise pollution is another salient cause driving the growth of the segment.
| Region/ Country | North America |
|---|---|
| Value Share % (2022) | 28.1% |
| Market Size USD (2033) | USD 7,460.77 million |
| Region/ Country | The United States |
|---|---|
| Value Share % (2022) | 18.2% |
| Market Size USD (2033) | USD 4,832.24 million |
Regionally, North America is anticipated to dominate the global acoustic insulation industry in the forecast period. Among all, the United States of America is projected to make the most significant contribution to developing the regional market. Estimations reveal that the United States of America is likely to garner USD 4,832.24 million in 2033 while exhibiting a CAGR of 4.2% during the same timeframe. The presence of established players in the region is expected to make the most significant contribution to strengthening the regional market.
| Region/ Country | Europe |
|---|---|
| Value Share % (2022) | 20.8% |
| Market Size USD (2033) | USD 5,522.56 million |
| Region/ Country | Germany |
|---|---|
| Value Share % (2022) | 9.1% |
| Market Size USD (2033) | USD 2,416.12 million |
Europe is predicted to be a lucrative market for acoustic insulation. The stronghold of the region can be attributed to the presence of developed nations such as France, the United Kingdom, Italy, Spain, and Germany, among others.
| Country | The United Kingdom |
|---|---|
| CAGR % 2023 to 2033 | 4.1% |
According to the analysis, the United Kingdom is likely to make the maximum contribution to strengthening the regional market. The country is estimated at USD 1 billion while recording a CAGR of 4.1% from 2023 to 2033. Increased building and construction activities along with rising noise pollution cases are other salient causes driving the industry in the forecast period. Also, the imposition of stringent environmental regulations in European countries is expected to drive the market in the forecast period. For instance, the United Kingdom government has imposed Building Bulleting 93 regulations which demand minimum acoustic performance standards for school building construction.
| Countries | CAGR % (2023 to 2033) |
|---|---|
| China | 4.1% |
| India | 6.5% |
The Asia Pacific is projected to be growing at a significant pace during the forecast period. Increasing disposable income, rapid urbanization, rising building and construction, and increasing participation of government investments in various commercial projects pertaining to the absorption of fire and sound are some of the important factors driving the market in the forecast period. According to the analysis, China, Japan, and South Korea are estimated at USD 1.7 billion, USD 1.4 billion, and USD 947 billion, respectively. China is likely to expand at 4.1% CAGR, while Japan and South Korea are projected at 3.7% and 3.5% respectively.
The key leaders in the market are situated in regions like North America, Europe, and the Asia Pacific. Companies are striving to expand their manufacturing capabilities to cater to the expanding demand for acoustic insulation. Additionally, firms are forming alliances with their contemporaries to leverage on each other’s competency and elevate their value and brand presence in the market.
Acquisitions and mergers are also being employed to gather large share of the market. Key players in the global acoustic insulation industry include Knauf Insulation, Rockwool International A/S, Saint-Gobain, Soprema, and Armacell International, among others.
Recent key developments among players include:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion/million for Value and Million Units (Million Units) for Volume |
| Key Regions Covered | North America; Latin America; Europe; the Middle East & Africa (MEA); East Asia; South Asia; and Oceania |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, Italy, France, the United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, and Australia |
| Key Segments Covered | Type, End Use Industry, and Region |
| Key Companies Profiled | Knauf Insulation; Rockwool International A/S; Saint-Gobain; Soprema; Armacell International; Others. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The acoustic insulation industry is projected to reach a valuation of USD 26,550.8 million by 2033.
Saint-Gobain and Soprema are the top players in the acoustic insulation industry.
The United States is projected to hold a sizeable market share over the forecast period.
The acoustic insulation industry is projected to grow at a CAGR of 5.8%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Glass Wool 5.2. Rock Wool 5.3. Foamed Plastic 5.4. Elastomeric Foam 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use Industry 6.1. Building and Construction 6.2. Transportation 6.3. Oil & Gas and Petrochemicals 6.4. Energy & Utilities 6.5. Industrial & OEM 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Saint-Gobain SA 15.2. Rockwool International A/S 15.3. Knauf Insulation 15.4. Owens Corning 15.5. BASF SE 15.6. Johns Manville 15.7. Kingspan Group PLC 15.8. Paroc Group 15.9. Armacell International S.A 15.10. Fletcher Insulation 16. Assumptions & Acronyms Used 17. Research Methodology
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Acoustic Insulation Market
