Acoustic insulation is a soundproofing technique that attempts to minimize or prevent sound from entering or escaping an enclosed space by creating a barrier between the interior and exterior areas. It reduces the sound emitted from structures of a room and acoustic reverberation. Acoustic designing is one of the most complex side of architecture and construction used to develop insulation systems to achieve appropriate acoustic quality of the buildings. Acoustic insulation market finds the application of the acoustic insulation in some of the major applications including wall insulation, floor insulation, structure insulation, engine insulation and insulation in heating, ventilation and air conditioning (HVAC) systems.
The global acoustic insulation market is expected to showcase a significant growth during the forecast period (2017-2023). The growing demand for sound barriers in commercial buildings and residential buildings in the U.S. is expected to grow the acoustic insulation market for acoustic insulations in the country. Additionally, the renovation policies for the buildings in the U.S. is further expected to drive the acoustic insulation market for sound barriers; however, the declining trend of the construction industry in European Union is expected to hinder the growth of the market during the forecast period.
The acoustic insulation market for acoustic insulation is segmented on the basis of type as mineral wool, recycled products, plastic foams and natural acoustic insulations. The mineral wool segment comprising glass wool and stone wool dominated the market in 2016 owing to their relative small size and the ease of implementing it on the small pockets of walls and ceilings.
Additionally, the acoustic insulation market, on the basis of end-use, is segmented as building and construction (commercial, residential), transportation (automotive, marine, aerospace), industrial and others. Building and construction is expected to be the largest application during the forecast period in terms of volume for the excessive requirement of sound barriers to coverup the entire building. Moreover, the global acoustic insulation market, on the basis of application, is segmented as floor insulation, wall insulation, structure insulation, engine insulation, HVAC insulation and others.
The key trend observed in the acoustic insulation market is the continuous increase in awareness regarding noise pollution. Health awareness and rising standard of living are likely to have a notable impact on the global acoustic insulation industry growth. Additionally, human health and efficiency is pertaining to the noise level in the work environment, which highlights the importance of sound barriers. Increasing concern for employee comfort levels has triggered the demand for noise cancelling materials in corporates. Continuous increase in the standard of living is further driving the product’s demand in residential construction sector so as to achieve a peaceful atmosphere inside the home. All of the above mentioned trends are responsible for the growth of the market.
The major drivers observed in the study include the renovation activities in the construction industry in the U.S. and the government regulations worldwide to reduce the extent of noise pollution. The construction industry in the U.S. is expected to have scope to proceed in 2017. The U.S. economy in 2017 is anticipated to see job growth and the market fundamentals for commercial real estate is expected to remain healthy. For 2017, the construction are forecast to rise 5% to USD 713 billion, gains of 8% are expected for both residential building and non-residential building. Hence, the trend is expected to drive the market for acoustic insulation in the country.
Moreover, regulations related to noise control and isolation play a major role in the development of the industry. For instances, the Environmental Protection Agency (EPA) has designed standards to control noise generation in transportation and sound isolation of building surroundings. Most of the countries in the European Union also regulates the airborne, impact and appliance noise levels. Regulations are also levied to ensure isolation from external sounds. The Italian law (no. 447 of 2/10/95) proposes suspension of public and private entities responsible for sound pollution. The Portuguese regulations define and control the noise isolation from external sources inside a building. Sound generation from automobiles, planes and ships are also regulated under various specified standards. All of these standards are expected to drive the market for acoustic insulation during the forecast period.
The major restraint observed in the study includes the declining construction industry in the European countries. The financial crisis owing to Brexit had drastic impact on the economy of Europe especially on the construction sector. The impacts of the crisis differed widely by countries, but the overall construction industry faced a collapse which in turn, effected the growth of acoustic insulation market in the region.
The global acoustic insulation market has a lot of potential scope in it. The major players in the acoustic insulation market are adopting significant competitive strategies such as merger, acquisitions and joint ventures to hold a competitive stance in the global acoustic insulation market. Manufactures in the industry are undergoing continuous R&D to come up with cutting-edge advancement in the industry. Some of the key players in the global market include BASF SE, Johns Manville Inc., Knauf Insulation Gmbh and Owens Corning.
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