[CAGR 5.67%] Global Building Acoustic Insulation Market was valued at USD 11.71 billion in 2021 and projected to grow at a CAGR of 5.67% during the forecast period 2022-2029 : GreyViews

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Global Building Acoustic Insulation Market Size by Type (Stone Wool, Glass Wool, Foamed Plastic, Acoustic Fabrics, Plastic Foam, Mineral Foam, Elastomeric Foam and Others), End-users (Residential and Commercial), Sales Channel (Retail Sales and Online Sales), Regions, Segmentation, and forecast till 2029.

Pune India, Nov. 23, 2022 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the building acoustic insulation market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the building acoustic insulation market is present across various countries in the above-mentioned regions.

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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the product category, application, technology, end-users and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.

The significant players operating in the global building acoustic insulation market are Saint-Gobain S.A., Rockwool International, Owens Corning, Kingspan Group plc, Armacell International S.A., Knauf Insulation, Fletcher Insulation, BASF, Johns Manville, Cellecta Ltd., International Cellulose Corporation, Siderise, L’Isolante K-Flex S.p.A., Hush Acoustics, Arabian Fiberglass Insulation Company Ltd. and others. To achieve a substantial market share in the worldwide building acoustic insulation market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, BASF and Owens Corning are one of the most significant manufacturers and distributors present in the global building acoustic insulation market.

The ability of a building component or building structure to reduce sound transmission through it is referred to as sound insulation. A type of measure to stop sound waves from infiltrating is sound insulation. The sound transmission loss, which is represented by the decibel difference between incident sound and penetrated sound, serves as an example. The sound-insulating property improves with increasing number. The main focus of building acoustics is on sound transmission through internal walls, floors, and ceilings, as well as the building envelope. Depending on the material the customer pick, the size of the area being insulated, and the quantity of direct, flanking, and other sound transmission present, they may need acoustic insulation rolls, slabs, granulates, or panels.

The major driving factor for the market is availability of different products that can be used in different buildings. Further, their noise cancelling and aesthetically pleasing appearance are some of the key attributes, which are fueling up the building acoustic insulation market. Further, their easy installation attracts many constructers especially in new constructed buildings. Commercial soundproofing takes many different forms and works hard to establish an atmosphere that is supportive of privacy, effective communication, and productivity.

The growth in construction industry is providing lucrative opportunity to the building acoustic insulation market. The developing regions are also investing hugely in the construction of new infrastructure as well as renovations. Over the past century, buildings have gradually improved their sound insulation. The advancement of sound insulation design has been influenced by new construction technologies, the introduction of new, potent sound sources into dwellings, and a heightened awareness of noise in society.

Segmentation Analysis

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The foamed plastic segment led the building acoustic insulation market with a market share of around 24.03% in 2021.

The type segment includes stone wool, glass wool, foamed plastic, acoustic fabrics, plastic foam, mineral foam, elastomeric foam and others. Among these, the foamed plastic segment led the building acoustic insulation market with a market share of around 24.03% in 2021. There are several properties such as vibration damping and efficient absorption of sound which makes them widely used in commercial places. High performance of foamed plastics makes it preferrable in hospitals and hotels.

The commercial segment led the building acoustic insulation market with a market share of around 59.19% in 2021.

The end-users segment includes residential and commercial. Out of these, the commercial segment led the building acoustic insulation market with a market share of around 59.19% in 2021. Construction projects are on the rise and thus the demand for building acoustic insulation is also increasing. The entertainment industry also has vast applications of building acoustic insulation in order to limit the noise pollution especially in cinemas and auditoriums.

The retail sales segment led the building acoustic insulation market with a market share of around 65.02% in 2021.

The sales channel segment includes retail sales and online sales. The retail sales segment led the building acoustic insulation market with a market share of around 65.02% in 2021. The consumers have an option to visit the physical stores and choose from the diverse options of colour, texture, size and dimensions. However, the consumers can also customize the building acoustic insulation according to their requirement in the retail.

Regional Analysis

The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the building acoustic insulation include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.

Asia-Pacific region dominated the building acoustic insulation market and held 32.11% share of the market revenue in 2021. The growth of the market in the region can be attributed to various factors, such as presence of many global and regional manufacturers and primarily the high demand from end-user industries. The higher pace of industrialization and urbanization has brought tremendous growth in end-user sectors. However, North America is projected to register higher growth rate during the forecast period of 2022-2028. The rising investment in acoustic insulation for limiting the noise pollution in commercial and industrial applications along coupled with rising regulations against noise pollution is the significant factor behind the growth of the market in the region.

Covid-19 Impact

Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, oil and gas, automobile, etc. The demand for building acoustic insulation has decreased during the period owing to the regulations on social distancing and increasing focus on safeguarding people from the pandemic. In most of the regions, the manufacturing facilities of building acoustic insulation were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for building acoustic insulation significantly decreased. Investments were at an all time low due to disrupted supply chain.

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