Global acoustic insulation market is expected to reach $17.8 billion by 2027.Global acoustic insulation market is valued approximately at $13.6 billion in 2020 and is anticipated to grow with a healthy growth rate of about 3.9% over the forecast period 2021-2027.
The U.S. current-account deficit increased and reached US$ 234.8 billion in Q4 2021. However, the Canadian Dollar exchange (CAD) increased by 29.9% in Q1 22 to reach US$ 294.4 billion, widening the imbalance by US$ 68.6 billion. In the first quarter of 2022, exports of goods and services rose by US$ 27.7 billion, totaling US$ 1.07 trillion. However, the nation’s goods and services deficit decreased to US$ 79.9 billion in June from US$ 87.9 billion in May, which was corrected, a US$ 5.7 billion decrease that indicated some relief. On the other hand, the annual inflation rate in the country hit 8.7%.
Acoustic insulation refers to a soundproofing method which is used to reduce the sound intensity with respect to a specific receptor and source. Acoustic insulation affects sound in two different ways, noise absorption and noise reduction. It absorbs, transmits and also redirects the sound waves or vibrations that are present in the air and result in sound by passing through the objects. The global acoustic insulation market is being driven by rising health issues associated with noise pollution and stringent regulations for insulation across the globe.
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Furthermore, increasing focus on sustainability and favorable government regulations on energy efficiency will provide new opportunities for the global acoustic insulation industry. The most common health problem caused due to the exposure to noise pollution is Noise Induced Hearing Loss (NIHL). Also, exposure to loud noise can cause heart disease, high blood pressure, stress and sleep disturbances. According to Statista, total people with disabling hearing loss across the globe is expected to increase from 430 million in 2019 to approximately 711 million by 2050. Such growth in the prevalence of disabling hearing loss is likely to increase its demand for acoustic insulation which in turn would drive the market. However, slowdown in the European construction industry may impede market growth over the forecast period of 2021-2027.
The regional analysis of the global acoustic insulation market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is the leading region across the world in terms of market share due to a strong base of industries in developed economies of the region such as the United Kingdom, Italy, France, Spain and Germany. There is a strong need of soundproofing in industries. Other factors include energy transition across the region with rising focus on sound isolation. Whereas Asia Pacific is anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to growth in industrial sector in countries such as China, and India.
Major market player included in this report are: Saint Gobain Knauf Insulation Armacell International Soprema Rockwool International Huntsman Owens Corning Kingspan Group BASF SE Johns Manville
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type: Mineral Wool Foamed Plastic Elastomeric Foam Others By End Use Industry: Building and Construction Transportation Oil & Gas and Petrochemical Energy and Utilities Industrial and OEM By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE
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Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
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