New York, Sept. 04, 2019 (GLOBE NEWSWIRE) — Escalating growth of the building & construction sector in the emerging nations is one of the significant factors estimated to stimulate market growth.
The global acoustic insulation market is expected to reach USD 17.93 Billion by 2026, according to a new report by Reports and Data. Acoustic Insulation is required for diminishing the intensity of sound with respect to a particular source and receptor. Inclining trends for eco-friendly buildings providing efficient acoustic insulation essential in residential, commercial, and industrial applications is expected to propel the growth of the market in the forecast period. Exceptional properties of acoustic insulation materials such as dimensional stability, high fire safety, ecological compatibility, and chemical resistance are some of the major factors driving the market demand.
At present, there has been a significant increase in noise pollution, especially in emerging economies, where the population, as well as the population density, are high. The rise in noise pollution has resulted in various health issues such as hypertension, hearing impairment, heart disease, sleep disturbance, and annoyance, in people. To curb the issue of noise pollution, governments across the globe have framed legislation to control the level of noise in buildings and industrial facilities. Also, the focus is on making silent zones near hospitals, schools, and other sensitive sites.
Increasing awareness pertaining to health as well as the rise in the standard of living of the people is forecasted to drive the growth of the market in the upcoming years. However, the stagnant growth of industries in developed nations along with the high cost of acoustic insulation in buildings may create hindrances in the growth of the market in the period 2019-2026.
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Further key findings from the report suggest
- By product type, rock wool is forecasted to witness the highest growth rate of 5.9% in the forecast period, due to its properties, including excellent sound absorption, fire resistance, high density, moisture and water repellant, and heat insulation properties. Besides, rock wool is immune by temperatures up to 1000°C as well as aids in controlling the rate of spread of fire.
- By application, building and construction held the largest market share in 2018 and is forecasted to grow at a rate of 5.1% in the forecast period. The dominance of the building and construction sector may be attributed to a surge in population and urbanization in countries including China and India.
- The Asia Pacific region is expected to grow at the highest rate of 5.8% in the period 2019-2026. The swiftly growing building & construction sector, especially in the emerging economies, is anticipated to boost the product demand in the region. Additionally, fast technological advancements in the automotive industry and rise the level of disposable is causative of the market growth in the region.
- Key participants include Saint-Gobain, Rockwool International, Knauf Insulation, Johns Manville, Owens Corning, Paroc Group, Kingspan Group, Armacell International, BASF SE, and Fletcher Insulation, among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/acoustic-insulation-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global acoustic insulation market on the basis of product type, form, industry vertical, and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Fiberglass/Glass Wool
- Rock Wool
- Foamed Plastic
Form Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Industry Vertical Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Building & Construction
- Aerospace & Defense
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Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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