Acoustic Insulation Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 16.90 Billion |
| Market Size (2029) | USD 22.20 Billion |
| CAGR (2024 - 2029) | 5.59 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Acoustic Insulation Market Analysis
The Acoustic Insulation Market size is estimated at USD 16.90 billion in 2024, and is expected to reach USD 22.20 billion by 2029, growing at a CAGR of 5.59% during the forecast period (2024-2029).
The COVID-19 epidemic harmed the acoustic insulation sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business is recovering since 2021 and is expected to rise significantly in the coming years.
- Over the short term, government regulations for controlling noise pollution and a surge in the adoption of residential applications are the major factors driving the market studied. Also, a rise in demand from emerging economies boosts market growth.
- Conversely, fluctuating raw material prices and stagnant demand from developed countries are expected to significantly hinder the studied market's growth.
- Demand for aesthetic prospects and fire-resistant acoustic insulation properties will likely be an opportunity shortly.
- Asia-Pacific is dominating the global acoustic insulation market and is expected to grow significantly during the forecast period.
Acoustic Insulation Market Trends
Rising Demand from the Commercial Construction
- The commercial buildings include offices, retail, cinema, and other leisure outlets used for conducting operations of the enterprises where 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 its structure and need. Commercial construction is growing noticeably in Asia-Pacific, the Middle East, and Africa.
- Asia-Pacific, Middle East, and African countries are experiencing huge domestic and foreign investments for setting up industrial units, hospitals, malls, theaters, the hospitality industry, and the IT sector. For instance, India's government approved a PLI scheme for 16 plants for key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs). Establishing these 16 plants would result in a total investment of INR 348.70 crore (USD 47.01 million). The commercial development of these plants is expected to begin by April 2023. Therefore, increasing investments from commercial and industrial units in India are expected to create significant demand for acoustic insulation materials.
- Asia-Pacific is an attractive market for foreign companies due to the healthy economic performance of the countries like India, China, Indonesia, etc., and efforts made by the Middle Eastern countries to develop tourism and other non-oil sectors. They are driving commercial construction activities in these regions. For instance, in Saudi Arabia, under Vision 2030, 80 new hotels with more than 11,000 luxurious rooms are expected to open across Saudi Arabia by 2030. Therefore, increasing investments in the construction of hotels is expected to create demand for the acoustic insulation market.
- India is anticipated to remain the fastest-growing G20 economy in the Asia-Pacific region. According to IBEF, it is estimated that India needs to invest USD 840 billion over the next 15 years into urban infrastructure to meet the needs of its fast-growing population. This investment will only be rational and sustainable if we additionally focus on the long-term maintenance and strength of our buildings, bridges, ports, and airports.
- Moreover, in India, the Minister of State, Civil Aviation, announced that under the regional connectivity scheme (RCS)-Ude Desh ka Aam Nagrik (UDAN) infrastructure scheme, the Indian government also planned to construct 100 airports by 2024, owing to increasing demand for air commute.
- Furthermore, Saudi Arabia is working on many commercial projects, likely leading to more commercial buildings. For instance, the kingdom announced the USD 500 billion futuristic mega-city "Neom" project, the Red Sea Project - Phase 1, which is expected to be completed by 2025. It includes 14 luxury and hyper-luxury hotels with 3,000 rooms spread across five islands and two inland resorts, Qiddiya Entertainment City, Amaala - the uber-luxury wellness tourism destination, and Jean Nouvel's Sharaan resort in Al-Ula.
- Hence, all such commercial construction investments and projects are driving construction activities in these countries, increasing the demand for acoustic insulation.
China to Dominate the Demand in the Asia-Pacific Region
- China holds the largest Asia-Pacific market share for acoustic insulation due to rising investments and construction activity. China is the biggest contributor, as it is one of the leading investors in infrastructure worldwide over the past few years. For instance, according to the National Bureau of Statistics (NBS) of China, in 2022, the output value of construction works in China amounted to CNY 27.63 trillion (USD 4108.58 billion), an increase of 6.6% compared with 2021.
- China is the largest economy in the Asia-Pacific region in terms of GDP. The growth in the country remains high. However, it is gradually diminishing as the population ages, and the economy is rebalancing from investment to consumption, manufacturing to services, and external to internal demand.
- Automotive acoustic insulation is a vital part of the vehicle. It reduces the noise produced by various moving parts in the vehicle. The excess noise reduces the comfort level of both drivers and passengers, resulting in increased fatigue and stress. Automotive remains the largest sector in the country and reflects positive signs for the near future. For instance, according to Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2022, automobile production in the country amounted to 2,70,20,615 units, which shows an increase of 3% compared with 2021. Therefore, such a positive scenario in the production of automobiles in the country is expected to create an upside demand for acoustic insulation materials.
- Furthermore, China will overtake the United States as the world's biggest air travel market within the next three years. Still, the country's appetite for aviation continues to grow exponentially. For instance, during a French state visit to China, Airbus signed new cooperation agreements with China's Aviation industry partners. According to Airbus, over the next 20 years, China's air traffic is forecast to grow at 5.3% annually, significantly faster than the world average of 3.6%. It will lead to a demand for 8,420 passenger and freighter aircraft between 2023 and 2041, representing more than 20% of the world's total demand for around 39,500 new aircraft in the next 20 years. It is due to the rising aircraft fleet throughput further augmenting the development and growth of the acoustic insulation market.
- Furthermore, countries such as India and Japan contribute to the studied market growth. It is expected to further drive the demand for acoustic insulation over the forecast period.
Acoustic Insulation Industry Overview
The acoustic insulation market is consolidated in nature. The major players in this market (not in any particular order) include Kingspan Group, Owens Corning, Saint-Gobain, Rockwool A/S, and Armacell.
Acoustic Insulation Market Leaders
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Owens Corning
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Kingspan Group
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Armacell
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Saint-Gobain
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Rockwool A/S
*Disclaimer: Major Players sorted in no particular order
Acoustic Insulation Market News
- The recent developments are covered in the final report deliverables.
Acoustic Insulation Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Government Regulations for Controlling Noise Pollution and Surge in Adoption in Residential Application
4.1.2 Rise in Demand from Emerging Economies
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Stagnant Demand from the Developed Countries
4.2.2 Fluctuating Raw Material Prices
4.2.3 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Type
5.1.1 Mineral Wool
5.1.2 Glass Wool
5.1.3 Polymeric Foams
5.1.4 Natural
5.2 End-user Industry
5.2.1 Residential Construction
5.2.2 Commercial Construction
5.2.3 Transportation
5.2.4 Industrial
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Armacell
6.4.3 BASF SE
6.4.4 Cabot Corporation
6.4.5 Cellecta
6.4.6 CSR Limited
6.4.7 Dow
6.4.8 Dynamic composite technologies
6.4.9 Fletcher Insulation
6.4.10 Insultech, LLC
6.4.11 Johns Manville
6.4.12 Kingspan Group
6.4.13 Knauf Insulation
6.4.14 L'ISOLANTE K-FLEX S.p.A.
6.4.15 Owens Corning
6.4.16 Recticel Insulation
6.4.17 ROCKWOOL A/S
6.4.18 Saint-Gobain
6.4.19 Siderise
6.4.20 Trelleborg
6.4.21 Xella (Etex Group)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Demand for Aesthetic Prospects and Fire-resistant Properties of Acoustic Insulation
7.2 Other Opportunities
Acoustic Insulation Industry Segmentation
Acoustic insulation is a lightweight bulky material that absorbs sound wave energy and reduces sound echo in homes, offices, and other buildings as it's penetrating the walls and ceilings. In cars and airplanes, it's also used to reduce engine noise going out into the passenger areas. In concert halls and auditoriums, it helps absorb sounds by reducing echo. The acoustic insulation market is segmented based on type, end-user industry, and geography. The market is segmented by type: mineral wool, glass wool, polymeric foams, and natural. The end-user industry segments the market into residential, commercial, transportation, and industrial construction. The report also covers the market size and forecasts for acoustic insulation in 15 countries across major regions. Each segment's market sizing and forecasts are based on revenue (USD).
| Type | |
| Mineral Wool | |
| Glass Wool | |
| Polymeric Foams | |
| Natural |
| End-user Industry | |
| Residential Construction | |
| Commercial Construction | |
| Transportation | |
| Industrial |
| Geography | |||||||
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Acoustic Insulation Market Research FAQs
How big is the Acoustic Insulation Market?
The Acoustic Insulation Market size is expected to reach USD 16.90 billion in 2024 and grow at a CAGR of 5.59% to reach USD 22.20 billion by 2029.
What is the current Acoustic Insulation Market size?
In 2024, the Acoustic Insulation Market size is expected to reach USD 16.90 billion.
Who are the key players in Acoustic Insulation Market?
Owens Corning, Kingspan Group, Armacell, Saint-Gobain and Rockwool A/S are the major companies operating in the Acoustic Insulation Market.
Which is the fastest growing region in Acoustic Insulation Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Acoustic Insulation Market?
In 2024, the Asia Pacific accounts for the largest market share in Acoustic Insulation Market.
What years does this Acoustic Insulation Market cover, and what was the market size in 2023?
In 2023, the Acoustic Insulation Market size was estimated at USD 16.01 billion. The report covers the Acoustic Insulation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Acoustic Insulation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Acoustic Insulation Industry Report
Statistics for the 2024 Acoustic Insulation market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Acoustic Insulation analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Acoustic Insulation Market Report Snapshots
