Global Acoustic Insulation Market - 2022-2029

Market Overview

The Global Acoustic Insulation Market is expected to grow at a high CAGR of 6.1% during the forecasting period (2022-2029).

Acoustic insulation is the type of insulation used to reduce vibrations and noise with the help of sound-absorbing materials. These absorbing materials help to isolate noise sound by reflection and absorption with the help of certain acoustic materials such as glass, mineral wool, fibre, stone wool, metal and others.

Acoustic insulation is substantially used in commercial, industrial as well as residential projects for effective noise reduction. Acoustic insulation in this sector plays a vital role in reducing noise pollution, which affects the individual's mental fitness and health. Thus, individuals are using acoustic insulation for reducing health effects while working on the floor in several sectors such as industrial, manufacturing, building and construction, entertainment etc. Further acoustic insulation is widely used in construction applications in ceilings, floors, and walls for noise proofing.

Market Dynamics

The global acoustic insulation is driven by the rising building and construction sector coupled with increasing automotive sales have propelled the demand for the acoustic insulation market. Further rapid industrializations and urbanizations along with strict government rules and regulations towards the noise pollution control by several governments' drive the growth of this market.

Rising demand by building & construction as well as automotive sector along with growing urbanization

The market is driven by increasing building and construction investments for the commercial, private and industrial sectors around the globe. Acoustic insulation in the building and construction sector helps to reduce the sound transmission through walls and ceilings as well as for thermal insulation and sound absorption which created a massive demand for the acoustic insulation market.

Rising government investments by the developing and developed countries for the building and construction sector drives the growth of the acoustic insulation market. For instance, investment in China in the buildings and construction sector reached around US$ 1.8 trillion in 2018 whereas, in the United States, investments in both residential and non-residential construction reached around US$ 1.4 trillion increased at the rate of 3.8% between 2015 to 2018. It created a massive demand for the acoustic insulation market used for the new and retrofitting of the residential, commercial and industrial buildings.

Strengthening of government rules for noise control in the industrial sector

An increase in the adoption and launching of acoustic insulation products is witnessed in the past five years by the manufacturing companies due to strict rules by the government to control noise pollution in the industry. For the instanceUnited States, Environmental Protection Agency established the noise control act of 1972 for effective coordination of federal research and activities in noise control and set federal noise emission standards for the industrial sector.

Rising use of the substitute products such as environment-friendly bio-based products over synthetic materials hampers the growth of the acoustic insulation market

The acoustic insulation market is hampered by the increasing use of substitute environment-friendly bio-based products. For instance, the European Isobio project has developed environmentally friendly insulation made from biobased aggregates such as straw, clay, wheat or grasses mixed with innovative binders. It offers20% better insulation properties than conventional materials like fibreglass and can be used in the construction sector from individual private residencies to major public buildings.

COVID-19 Impact Analysis on Acoustic Insulation Market

The global Acoustic Insulation Market has witnessed a decline due to the COVID-19pandemic, as several manufacturing plants, buildings & construction projects were stopped due to lock-down in several countries around the globe. However, the demand is increased in June 2020 owing to increasing demand by the running construction projects.

During this, several manufacturing companies were focusing on research & development and hence several leading players have launched new acoustic insulation products after the lockdown was over. For instance, on 20th October 2020, Hempitecture Inc. launched a new product HempWoolbatt insulation in the United States for a residential and commercial construction project. Further, the demand will increase as soon as the covid issue is over.

Segmentation Analysis

The global Acoustic Insulation Market is segmented based on material, application, end-users and region.

Rising demand acoustic insulation of polymeric foam type due to low cost and high demand in the growing automotive sector

In terms of material, the global acoustic Insulation Market is bifurcated into plastic foam, wool and others. Further plastic foam is segmented into Polyurethane (PU), Polyethylene (PE), Polystyrene (PS), Polyisocyanurate (PIR), Phenolic Foam and Others. Also, wool is segmented into Glass Wool, Stone Wool, Cotton Wool, Slag Wool and Others.

Among these, the plastic foam segment has the highest market share in 2019, this is primarily due to its demand for manufacturing of the automotive with the surge in the vehicles sales globally. For instance, as per the International Energy Agency in 2019, global car sales reached around 95 million which propelled the demand for polymeric foam used for manufacturing the vehicle body.

Similarly, wool segments including glass wool, stone wool, cotton wool, slag wool are also growing at a faster pace owing to surge in the building and construction sector demand as stone and glass wool are used for thermal insulation of the buildings. For instance, as per the We Forum Organization report in 2017, the global construction industry was valued at around US$ 10 trillion and is projected to reach US$ 12 trillion increasing at a CAGR of 3.6% around the globe. It created a huge demand for this segmental growth.

Rising building and construction projects around the globe with the surge in government investments and initiative schemes have propelled the walls segmental growth

Depending on the application, the global acoustic insulation market is segmented into walls, flat roofs, pitched roofs and floors. Among these walls, the segment has the highest market share in 2019, owong to the increasing demand for insulation in the new construction buildings and retrofitting buildings around the globe.

Rising urbanization and industrialization with growing population demand around the globe have propelled the building and construction segmental growth

Based on end-user, the global acoustic insulation is segmented into automotive, marine, railways, building & construction, aerospace & defence and others. Among this building & construction sector has the highest market share in 2019, owing to rising urbanization and industrialization with the growing wold's population.

For instance, as per our world data in 2018, around half of the world's population lives in urban areas that are around 4.1 billion in 2018 which have propelled the demand for buildings and construction sector for living in the urban areas. Further buildings and construction sector is bifurcated into Residential, Commercial, Industrial and Institutional.

Similarly, marine, railways, building & construction, aerospace & defence segments are also growing at a faster pace owing to rising demand for noise control acoustic insulation. As aerospace & defence industry has also the highest demand for acoustic insulation for controlling the noise of aircraft, helicopters, and aeroplanes.

Geographical Analysis

Asia-Pacific region holds the largest market share in global acoustic Insulation Market

Asia-Pacific region is dominating the global acoustic Insulation Market in 2019, due to the presence of several manufacturing industries of automotive, plastics etc. The region comprised of the highest population with growing investment in building & construction in this region followed by North America.

For instance, in Asia-Pacific second-most populous country India, the construction sector has contributed around 8% to India's total GDP which was valued at around US$ 161 billion in 2017as per the National Skill Development Corporation. Similarly, in North America Further increasing demand for insulation in building and construction with rising projects with government funding and investments has propelled the demand for the slag wool market.

For instance, on 20th Sep 2020, the Western Economic Diversification Canada (WD)federal government has been funded around US$ 3 million funding to Alberta's construction industry to help small businesses adopt new technologies which will improve the energy efficiency of buildings and reduce greenhouse gas emissions.

Competitive Landscape

The Acoustic Insulation market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Saint-Gobain, Rockwool, Owens Corning, Kingspan Group, ROCKWOOL International A/S, Knauf Insulation, Johns Manville, Owens Corning, Armacell International, BASF SE Siderise Group, Recticel Insulation, Trelleborg AB, Fletcher Insulation and among others.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the acoustic insulation market globally. For instance, on26th June 2020, BASF made a partnership with a Chinese firm for developing insulating polyurethane (PU) panels for use in the construction of refrigerated storages for the cold chain industry in China.

Saint-Gobain

Overview: Saint-Gobain, founded in 1665, office based in San La Defense Cedex

France. Saint-Gobain is a leading manufacturer of construction materials, insulation panels with 75% sales made in the construction market including for new residential construction and renovation. The Group provides a wide range of high-performance materials with expertise in the areas of innovation and co-development for demanding applications such as the automotive, aeronautical, health, defence, security, and food & beverage industries

Product Portfolio: The company has a diverse product portfolio of acoustic insulation including:

Acoustic glass insulation: Acoustic glass is made up of two or more sheets of glass by bonding together with heat or pressure with one or more acoustic polyvinyl butyral (PVB) interlayers which serve as a noise dampener, weakening the energy of the sound waves as they travel through the glass. Acoustic glass provides insulation for impact and airborne noise while ensuring the safety and security that comes with laminated glass

Applications:

Windows, patio doors, skylights, conservatories and internal screens and partitions

It can also be incorporated within double glazing windows ranging in thickness from 26mm - 40mm, as well as single glazed applications from 6.8mm to 12.8 mm in thickness

Key Development:

On 17th July 2020, Saint-Gobain's subsidiary Point. P construction materials and building products have launched a specific range of bio-sourced insulation materials. The materials consist of wood fibre and hemp-based materials

Mergers & Acquisitions: On 3rd Sept 2020, Saint-Gobain has completed the acquisition of Strikolith a leading internal finishing and exterior insulation systems provider. This acquisition enhanced the group's solution offering and is particularly offering an External Thermal Insulation Composite Systems (ETICS) and construction chemicals in the Netherlands.