PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1371960
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1371960
Acoustical Panel System Market Forecasts to 2030 - Global Analysis By Type (Roof, Ceiling, and Wall), Material Type (Fiberglass Panels, Foam Panels, Wood Panels, Metal Panels and Other Material Types), Application and By Geography.
According to Stratistics MRC, the Global Acoustical Panel System Market is accounted for $2.55 billion in 2023 and is expected to reach $4.38 billion by 2030 growing at a CAGR of 8.0% during the forecast period. An acoustical panel system, also known as acoustic panelling or soundproofing panels, refers to a modular structure or assembly designed to improve sound quality within a specific space. These panels are engineered to absorb, dampen, or diffuse sound waves, reducing noise levels and enhancing acoustic comfort in the environment they are installed in. They typically consist of sound-absorbing materials, such as foam, fabric, wood, or other specialised materials, mounted on a framework that can be affixed to walls, ceilings, or other surfaces. Their primary purpose is to mitigate noise, minimise sound reverberation, and create a more pleasant and acoustically balanced space. They are often used in various settings like offices, theatres, studios, conference rooms, and residential spaces.
According to U.S. Census Bureau, the federal government's largest statistical agency, an estimated 1,595,100 housing units were started in 2021, that increased by 15.6% from 1,379,600 in 2020 in the US.
Market Dynamics:
Driver:
Increasing construction and infrastructure activities
Growing construction and infrastructure activities play a significant role in driving the acoustic panel system market. With the increasing construction of commercial buildings, residential complexes, educational institutions, healthcare facilities, and entertainment venues, there is a rising demand for effective noise control solutions. Acoustical panels are essential in these projects to create acoustically optimised environments that enhance productivity, comfort, and overall occupant satisfaction. Additionally, infrastructure development projects such as airports, railway stations, and sports stadiums also require acoustical panels to meet noise reduction requirements and ensure a pleasant experience for users, which results in growth and market expansion.
Restraint:
High cost
Acoustical panels tend to be relatively expensive compared to conventional construction materials. The elevated cost is primarily attributed to factors such as specialised materials, advanced manufacturing processes, and specific installation techniques required for optimal acoustic performance. This cost factor can limit the adoption of acoustical panels, especially in budget-constrained projects. Cost considerations often lead buyers to explore alternative solutions or compromise on the extent of acoustic enhancements, impacting the market's growth potential.
Opportunity:
Technological advancements
Technology advancements offer possibilities for the creation of enhanced acoustical panel systems. This involves utilising cutting-edge materials, cutting-edge manufacturing processes, and improved acoustic performance. These developments have sparked the creation of ground-breaking solutions that provide greater performance, superior aesthetics, and simple installation. Adoption of cutting-edge materials, such as composite materials with exceptional sound absorption properties or micro-perforated panels, is one noteworthy breakthrough. Additionally, precise customization and complex panel designs are made possible by the incorporation of advanced production techniques, including computer numerical control (CNC) machining and laser cutting, have lucrative opportunities for the acoustic panel system market growth.
Threat:
Cybersecurity Threats
The acoustical panel system market faces increasing cybersecurity threats as these systems integrate advanced technologies. Cyber-attacks targeting these systems can lead to unauthorised access, data breaches, and compromised user privacy. Hackers might exploit vulnerabilities in the panel's software or interconnected networks to disrupt functionality or access sensitive information. These factors are hampering market growth.
COVID-19 Impact
The COVID-19 pandemic had a significant impact on the acoustic panel system market. The global lockdowns, travel restrictions, and economic uncertainty resulted in project delays and cancellations across various industries. The construction sector, which is a major consumer of acoustical panels, experienced a slowdown as many projects were put on hold. Supply chain disruptions and manufacturing limitations also affected the availability and delivery of acoustical panels. Additionally, reduced consumer spending and budget constraints hindered the demand for non-essential projects, including acoustic improvements. However, as the world gradually recovers from the pandemic, the market is expected to rebound as construction activities resume and organisations prioritise creating healthier and more productive indoor environments.
The Ceiling segment is expected to be the largest during the forecast period
The Ceiling segment is estimated to hold the largest share. Ceilings are used to enhance sound quality and reduce noise levels in various indoor environments, such as offices, educational institutions, healthcare facilities, and entertainment venues. The demand for ceiling acoustical panels is driven by the growing awareness of the importance of acoustic comfort in these spaces. These panels come in a variety of materials, designs, and installation methods to cater to different aesthetic and functional requirements. Additionally, the market for ceiling acoustical panels is expected to witness steady growth in the coming years as more organisations and individuals prioritise creating acoustically pleasant environments.
The Industrial Building segment is expected to have the highest CAGR during the forecast period
The Industrial Building segment is anticipated to have lucrative growth during the forecast period, as acoustical panels are specifically designed for industrial applications. These panels are used to control and mitigate noise levels in industrial settings such as factories, manufacturing plants, warehouses, and power generation facilities. The demand for acoustical panels in the industrial building sector is fuelled by the requirement to provide workers with a safer and more comfortable working environment while adhering to noise restrictions. These panels are made to mute and absorb noise from machinery, equipment, and industrial processes. They are available in various materials, thicknesses, and configurations to suit different industrial requirements. Moreover, the market for acoustical panels in the industrial building segment is expected to grow as industries increasingly prioritise noise control and worker well-being.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period due to escalating construction activities, increasing awareness about noise pollution, and a rising emphasis on sustainable building solutions. Urbanisation and commercial expansion have made nations like China, Japan, India, and Australia significant players in this sector. The demand for acoustical panel systems, designed to enhance sound quality and aesthetics in various settings, including offices, educational institutions, and healthcare facilities, is surging. Industry players are innovating to offer eco-friendly materials and advanced technologies, catering to the evolving demands of the dynamic Asia-Pacific market
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period, due to a rising focus on creating acoustic-friendly spaces in commercial, residential, and industrial sectors. Factors like urbanisation, stringent noise regulations, and a surge in construction activities contribute to this expansion. In addition, increased awareness of the importance of noise reduction and acoustic comfort is driving demand. Key players in the region are innovating with advanced materials and sustainable designs to meet evolving market needs.
Key players in the market:
Some of the key players in the Acoustical Panel System Market include: Saint-Gobain, Knauf Insulation, Stramit, Decustik, Assan Panel, NCI Building Systems, Ruukki, STAR-USG, Armstrong, Ecophon, Kingspan, Metecno, Nucor Building Systems, SoundScapes® Blades, Gustafs Scandinavia AB, FabricMate Systems, Inc, RPG Acoustical Systems and BAUX AB.
Key Developments:
In September 2023, Nucor Corporation announced collaboration with fusion power company, Helion to develop a 500 MW fusion power plant. This transformational project will offer baseload zero-carbon electricity from fusion directly to a Nucor steelmaking facility.
In August 2023, RPG Acoustical Systems Expands Manufacturing Reach Starting Fall 2023. RPG Acoustical Systems, LLC, a global leader in the design and manufacture of acoustical products, is pleased to announce that effective September 1, 2023, customers will be able to order a select list of its premium wood and fabric products manufactured and delivered within the European market area.
Types Covered:
- Roof
- Ceiling
- Wall
Material Types Covered:
- Fiberglass Panels
- Foam Panels
- Wood Panels
- Metal Panels
- Other Material Types
Applications Covered:
- Residential Building
- Industrial Building
- Commercial Building
- Agricultural Building
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Acoustical Panel System Market, By Type
- 5.1 Introduction
- 5.2 Roof
- 5.3 Ceiling
- 5.4 Wall
6 Global Acoustical Panel System Market, By Material Type
- 6.1 Introduction
- 6.2 Fiberglass Panels
- 6.3 Foam Panels
- 6.4 Wood Panels
- 6.5 Metal Panels
- 6.6 Other Material Types
7 Global Acoustical Panel System Market, By Application
- 7.1 Introduction
- 7.2 Residential Building
- 7.3 Industrial Building
- 7.4 Commercial Building
- 7.5 Agricultural Building
8 Global Acoustical Panel System Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Saint-Gobain
- 10.2 Knauf Insulation
- 10.3 Stramit
- 10.4 Decustik
- 10.5 Assan Panel
- 10.6 NCI Building Systems
- 10.7 Ruukki
- 10.8 STAR-USG
- 10.9 Armstrong
- 10.10 Ecophon
- 10.11 Kingspan
- 10.12 Metecno
- 10.13 Nucor Building Systems
- 10.14 SoundScapes® Blades
- 10.15 Gustafs Scandinavia AB
- 10.16 FabricMate Systems, Inc
- 10.17 RPG Acoustical Systems
- 10.18 BAUX AB
List of Tables
- Table 1 Global Acoustical Panel System Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Acoustical Panel System Market Outlook, By Type (2021-2030) ($MN)
- Table 3 Global Acoustical Panel System Market Outlook, By Roof (2021-2030) ($MN)
- Table 4 Global Acoustical Panel System Market Outlook, By Ceiling (2021-2030) ($MN)
- Table 5 Global Acoustical Panel System Market Outlook, By Wall (2021-2030) ($MN)
- Table 6 Global Acoustical Panel System Market Outlook, By Material Type (2021-2030) ($MN)
- Table 7 Global Acoustical Panel System Market Outlook, By Fiberglass Panels (2021-2030) ($MN)
- Table 8 Global Acoustical Panel System Market Outlook, By Foam Panels (2021-2030) ($MN)
- Table 9 Global Acoustical Panel System Market Outlook, By Wood Panels (2021-2030) ($MN)
- Table 10 Global Acoustical Panel System Market Outlook, By Metal Panels (2021-2030) ($MN)
- Table 11 Global Acoustical Panel System Market Outlook, By Other Material Types (2021-2030) ($MN)
- Table 12 Global Acoustical Panel System Market Outlook, By Application (2021-2030) ($MN)
- Table 13 Global Acoustical Panel System Market Outlook, By Residential Building (2021-2030) ($MN)
- Table 14 Global Acoustical Panel System Market Outlook, By Industrial Building (2021-2030) ($MN)
- Table 15 Global Acoustical Panel System Market Outlook, By Commercial Building (2021-2030) ($MN)
- Table 16 Global Acoustical Panel System Market Outlook, By Agricultural Building (2021-2030) ($MN)
- Table 17 North America Acoustical Panel System Market Outlook, By Country (2021-2030) ($MN)
- Table 18 North America Acoustical Panel System Market Outlook, By Type (2021-2030) ($MN)
- Table 19 North America Acoustical Panel System Market Outlook, By Roof (2021-2030) ($MN)
- Table 20 North America Acoustical Panel System Market Outlook, By Ceiling (2021-2030) ($MN)
- Table 21 North America Acoustical Panel System Market Outlook, By Wall (2021-2030) ($MN)
- Table 22 North America Acoustical Panel System Market Outlook, By Material Type (2021-2030) ($MN)
- Table 23 North America Acoustical Panel System Market Outlook, By Fiberglass Panels (2021-2030) ($MN)
- Table 24 North America Acoustical Panel System Market Outlook, By Foam Panels (2021-2030) ($MN)
- Table 25 North America Acoustical Panel System Market Outlook, By Wood Panels (2021-2030) ($MN)
- Table 26 North America Acoustical Panel System Market Outlook, By Metal Panels (2021-2030) ($MN)
- Table 27 North America Acoustical Panel System Market Outlook, By Other Material Types (2021-2030) ($MN)
- Table 28 North America Acoustical Panel System Market Outlook, By Application (2021-2030) ($MN)
- Table 29 North America Acoustical Panel System Market Outlook, By Residential Building (2021-2030) ($MN)
- Table 30 North America Acoustical Panel System Market Outlook, By Industrial Building (2021-2030) ($MN)
- Table 31 North America Acoustical Panel System Market Outlook, By Commercial Building (2021-2030) ($MN)
- Table 32 North America Acoustical Panel System Market Outlook, By Agricultural Building (2021-2030) ($MN)
- Table 33 Europe Acoustical Panel System Market Outlook, By Country (2021-2030) ($MN)
- Table 34 Europe Acoustical Panel System Market Outlook, By Type (2021-2030) ($MN)
- Table 35 Europe Acoustical Panel System Market Outlook, By Roof (2021-2030) ($MN)
- Table 36 Europe Acoustical Panel System Market Outlook, By Ceiling (2021-2030) ($MN)
- Table 37 Europe Acoustical Panel System Market Outlook, By Wall (2021-2030) ($MN)
- Table 38 Europe Acoustical Panel System Market Outlook, By Material Type (2021-2030) ($MN)
- Table 39 Europe Acoustical Panel System Market Outlook, By Fiberglass Panels (2021-2030) ($MN)
- Table 40 Europe Acoustical Panel System Market Outlook, By Foam Panels (2021-2030) ($MN)
- Table 41 Europe Acoustical Panel System Market Outlook, By Wood Panels (2021-2030) ($MN)
- Table 42 Europe Acoustical Panel System Market Outlook, By Metal Panels (2021-2030) ($MN)
- Table 43 Europe Acoustical Panel System Market Outlook, By Other Material Types (2021-2030) ($MN)
- Table 44 Europe Acoustical Panel System Market Outlook, By Application (2021-2030) ($MN)
- Table 45 Europe Acoustical Panel System Market Outlook, By Residential Building (2021-2030) ($MN)
- Table 46 Europe Acoustical Panel System Market Outlook, By Industrial Building (2021-2030) ($MN)
- Table 47 Europe Acoustical Panel System Market Outlook, By Commercial Building (2021-2030) ($MN)
- Table 48 Europe Acoustical Panel System Market Outlook, By Agricultural Building (2021-2030) ($MN)
- Table 49 Asia Pacific Acoustical Panel System Market Outlook, By Country (2021-2030) ($MN)
- Table 50 Asia Pacific Acoustical Panel System Market Outlook, By Type (2021-2030) ($MN)
- Table 51 Asia Pacific Acoustical Panel System Market Outlook, By Roof (2021-2030) ($MN)
- Table 52 Asia Pacific Acoustical Panel System Market Outlook, By Ceiling (2021-2030) ($MN)
- Table 53 Asia Pacific Acoustical Panel System Market Outlook, By Wall (2021-2030) ($MN)
- Table 54 Asia Pacific Acoustical Panel System Market Outlook, By Material Type (2021-2030) ($MN)
- Table 55 Asia Pacific Acoustical Panel System Market Outlook, By Fiberglass Panels (2021-2030) ($MN)
- Table 56 Asia Pacific Acoustical Panel System Market Outlook, By Foam Panels (2021-2030) ($MN)
- Table 57 Asia Pacific Acoustical Panel System Market Outlook, By Wood Panels (2021-2030) ($MN)
- Table 58 Asia Pacific Acoustical Panel System Market Outlook, By Metal Panels (2021-2030) ($MN)
- Table 59 Asia Pacific Acoustical Panel System Market Outlook, By Other Material Types (2021-2030) ($MN)
- Table 60 Asia Pacific Acoustical Panel System Market Outlook, By Application (2021-2030) ($MN)
- Table 61 Asia Pacific Acoustical Panel System Market Outlook, By Residential Building (2021-2030) ($MN)
- Table 62 Asia Pacific Acoustical Panel System Market Outlook, By Industrial Building (2021-2030) ($MN)
- Table 63 Asia Pacific Acoustical Panel System Market Outlook, By Commercial Building (2021-2030) ($MN)
- Table 64 Asia Pacific Acoustical Panel System Market Outlook, By Agricultural Building (2021-2030) ($MN)
- Table 65 South America Acoustical Panel System Market Outlook, By Country (2021-2030) ($MN)
- Table 66 South America Acoustical Panel System Market Outlook, By Type (2021-2030) ($MN)
- Table 67 South America Acoustical Panel System Market Outlook, By Roof (2021-2030) ($MN)
- Table 68 South America Acoustical Panel System Market Outlook, By Ceiling (2021-2030) ($MN)
- Table 69 South America Acoustical Panel System Market Outlook, By Wall (2021-2030) ($MN)
- Table 70 South America Acoustical Panel System Market Outlook, By Material Type (2021-2030) ($MN)
- Table 71 South America Acoustical Panel System Market Outlook, By Fiberglass Panels (2021-2030) ($MN)
- Table 72 South America Acoustical Panel System Market Outlook, By Foam Panels (2021-2030) ($MN)
- Table 73 South America Acoustical Panel System Market Outlook, By Wood Panels (2021-2030) ($MN)
- Table 74 South America Acoustical Panel System Market Outlook, By Metal Panels (2021-2030) ($MN)
- Table 75 South America Acoustical Panel System Market Outlook, By Other Material Types (2021-2030) ($MN)
- Table 76 South America Acoustical Panel System Market Outlook, By Application (2021-2030) ($MN)
- Table 77 South America Acoustical Panel System Market Outlook, By Residential Building (2021-2030) ($MN)
- Table 78 South America Acoustical Panel System Market Outlook, By Industrial Building (2021-2030) ($MN)
- Table 79 South America Acoustical Panel System Market Outlook, By Commercial Building (2021-2030) ($MN)
- Table 80 South America Acoustical Panel System Market Outlook, By Agricultural Building (2021-2030) ($MN)
- Table 81 Middle East & Africa Acoustical Panel System Market Outlook, By Country (2021-2030) ($MN)
- Table 82 Middle East & Africa Acoustical Panel System Market Outlook, By Type (2021-2030) ($MN)
- Table 83 Middle East & Africa Acoustical Panel System Market Outlook, By Roof (2021-2030) ($MN)
- Table 84 Middle East & Africa Acoustical Panel System Market Outlook, By Ceiling (2021-2030) ($MN)
- Table 85 Middle East & Africa Acoustical Panel System Market Outlook, By Wall (2021-2030) ($MN)
- Table 86 Middle East & Africa Acoustical Panel System Market Outlook, By Material Type (2021-2030) ($MN)
- Table 87 Middle East & Africa Acoustical Panel System Market Outlook, By Fiberglass Panels (2021-2030) ($MN)
- Table 88 Middle East & Africa Acoustical Panel System Market Outlook, By Foam Panels (2021-2030) ($MN)
- Table 89 Middle East & Africa Acoustical Panel System Market Outlook, By Wood Panels (2021-2030) ($MN)
- Table 90 Middle East & Africa Acoustical Panel System Market Outlook, By Metal Panels (2021-2030) ($MN)
- Table 91 Middle East & Africa Acoustical Panel System Market Outlook, By Other Material Types (2021-2030) ($MN)
- Table 92 Middle East & Africa Acoustical Panel System Market Outlook, By Application (2021-2030) ($MN)
- Table 93 Middle East & Africa Acoustical Panel System Market Outlook, By Residential Building (2021-2030) ($MN)
- Table 94 Middle East & Africa Acoustical Panel System Market Outlook, By Industrial Building (2021-2030) ($MN)
- Table 95 Middle East & Africa Acoustical Panel System Market Outlook, By Commercial Building (2021-2030) ($MN)
- Table 96 Middle East & Africa Acoustical Panel System Market Outlook, By Agricultural Building (2021-2030) ($MN)
