The global acoustic insulation material market is segmented into application such as building & construction, industrial, and transportation. Among these segments, building & construction acoustic insulation material segment is expected to occupy the top position in global acoustic insulation material market. Moreover, commercial acoustic insulation material is expected to grow at a highest CAGR over the forecast period. Further, increasing utilization of acoustic insulation material by commercial buildings such as institutional building, cooperate offices and others to curb the noise pollution is anticipated to drive the growth of the commercial acoustic insulation material market. Moreover, growth of construction industry in developing nations is likely to fuel the growth of the acoustic insulation material market during the forecast period.
Global acoustic insulation material market is expected to flourish at a significant CAGR of 5.9% over the forecast period. Moreover, the global acoustic insulation material market is expected to garner USD 18.2 Billion by the end of 2024. Positive outlook of real estate is one of the major growth drivers of the global acoustic insulation material market.
In terms geography, Asia Pacific grabbed the highest percentage share in overall acoustic insulation material market in 2016. Further, Asia Pacific is expected to continue its dominance over the forecast period. Rise in the infrastructure development activities is expected to intensify the growth of the Asia Pacific acoustic insulation material market. Additionally, according IBEF, in India number of population in urban areas will expand from the 434 Million in 2015 to about 600 million by 2031 which is expected to positively impact the growth of the acoustic insulation material market in Asia Pacific. China is the major contributor to the growth of global acoustic insulation material market. Europe is believed to showcase outstanding growth in the acoustic insulation material market over the forecast period.
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Expanding Infrastructure in Developing Nations
Rising number of residential & commercial spaces across the globe is projected to bolster the demand for acoustic insulation material to curb the noise the population. Moreover, high utilization of acoustic insulation material by corporate offices due to rising concern for employee comfort levels is anticipated to supplement the growth of the acoustic insulation material market.
Innovation and Technological Developments
Advancement in acoustic insulation material and development of enhanced acoustic insulation material by major manufacturers with high durability and sustainable benefits are expected to foster the growth of the global acoustic insulation material market. Moreover, stringent laws regarding noise control and rising health consciousness towards noise pollution among the consumers have pushed them to adopt noise controlling material such as acoustic insulation material is anticipated to increase the adoption of the acoustic insulation material in the years ahead.
However, lack of awareness regarding acoustic insulation material is expected to hamper the growth of the global acoustic insulation material market.
The report titled “Acoustic insulation material Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global acoustic insulation material market in terms of market segmentation by product type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global acoustic insulation material market which includes company profiling of Johns Manville, Rockwool International A/S, Owens Corning, Fletcher Insulation, Knauf Gips KG, Trelleborg AB, Saint-Gobain S.A., Paroc Group Oy, Armacell GmbH, BASF SE. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Acoustic insulation material market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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