Dublin, Sept. 14, 2021 (GLOBE NEWSWIRE) -- The "Acoustic Insulation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The acoustic insulation market is expected to register a CAGR of over 5%, during the forecast period. The major factors driving the market studied include the growing interest of consumers for acoustic insulation, for commercial and residential purposes. Stagnant industrial growth in the developed countries is expected to significantly hinder the growth of the market studied.
Asia-Pacific is expected to dominate the global market, during the forecast period. Demand for aesthetic prospects and fire-resistant properties for acoustic insulation is likely to act as an opportunity, in the future.
Key Market Trends
Rising Demand from the Commercial Construction
The commercial buildings include buildings used for offices, retail, cinema, and other leisure outlets used for conducting operations of the enterprises.
In commercial buildings, acoustic insulation materials find extensive application in walls, floors, ceilings, waste-water pipes, plant rooms, etc.
In commercial buildings, there are certain guidelines to avoid external noise intrusion, internal noise, and noise from building services. However, the type of insulation required in the building varies according to the building structure and its need. Commercial construction has been growing at a noticeable pace in Asia-Pacific and Middle East & Africa.
Asia-Pacific and Middle East & African countries are experiencing huge domestic as well as foreign investments for setting up industrial units, hospitals, malls, multiplexes, hospitality industry, and IT sector.
Asia-Pacific is an attractive market for foreign companies, due to healthy economic performance of the countries, like India, China, Indonesia, etc., and efforts made by the Middle Eastern countries to develop its tourism and other non-oil sectors, which are driving commercial construction activities in these regions.
The Indian government has also set an investment target of USD 120.5 billion for developing 27 industrial clusters; this is expected to boost commercial construction in the country.
China is witnessing the construction of numerous airports in the country, which are either under planning or development phases. In addition, Indian government has also been planning to construct 100 airports by 2032, owing to increasing demand for air commute.
Hence, all such commercial construction investments and projects have been driving construction activities in these countries, along with the consumption of acoustic insulation materials for application in commercial construction.
China to Dominate the Demand in the Asia-Pacific Region
China is the largest economy in the entire Asia-Pacific region, in terms of GDP. The growth in the country remains high but is gradually diminishing, as the population is aging, and the economy is rebalancing from investment to consumption, manufacturing to services, and external to internal demand.
The first year of China's 13th Five-year Plan (2016) was an important year for the country's engineering, procurement, and construction (EPC) industry, as it ventured into new business models, both domestically and internationally.
There has been an increase in investments in the transportation sector in the recent past. China's transport ministry and National Development and Reform Commission (NDRC) plans to invest in coming years in many key transportation projects, which include railways, highways, waterways, airports, and urban rail.
Automotive continues to remain the largest sector in the country and is reflecting positive signs for the near future. The large number of Tier I producers are either in the process of expanding their production or starting new production facilities in the country.
The production is expected to reach 30 million units by 2020, owing to the "Made in China 2025" initiative, which supports in upgrading the existing low cost mass production to higher value-added advanced manufacturing. "Automobile Mid and Long Term Development Plan" was released in the April 2017 with an objective to make China a strong auto power in next decade.
Furthermore, countries, such as India and Japan, have also been contributing to the growth of the market studied. This is expected to further drive the demand for acoustic insulation, over the forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Government Regulations for Controlling Noise Pollution
4.1.2 Growing Interest of Consumers for Acoustic Insulation for Commercial and Residential Purposes
4.2.1 Stagnant Industrial Growth in the Developed Countries
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.2 End-user Industry
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 BASF SE
6.4.3 Cabot Corporation
6.4.5 CSR Building Products Ltd
6.4.6 Dynamic Composite Technologies
6.4.7 Fletcher Building Limited
6.4.8 Johns Manville
6.4.9 Kingspan Group
6.4.10 Knauf Insulation
6.4.12 L'isolante K-Flex SpA
6.4.13 Owens Corning
6.4.14 Recticel Insulation
6.4.17 Siderise Group
6.4.18 Xella Group (Ursa Insulation)
6.4.19 Zeon Kasei Co Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Demand for Aesthetic Prospects and Fire-resistant Properties for Acoustic Insulation
7.2 Increasing Usage of Stainless Steel Wool for Sound Dampening
For more information about this report visit https://www.researchandmarkets.com/r/6kjtg0
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