The global acoustic insulation market is expected to showcase a significant growth during the forecast period (2017-2023). The growing demand for sound barriers in commercial buildings and residential buildings in the U.S. is expected to grow the acoustic insulation market for acoustic insulations in the country.
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Acoustic insulation is a soundproofing technique that attempts to minimize or prevent sound from entering or escaping an enclosed space by creating a barrier between the interior and exterior areas. It reduces the sound emitted from structures of a room and acoustic reverberation.
The acoustic insulation market for acoustic insulation is segmented on the basis of type as mineral wool, recycled products, plastic foams and natural acoustic insulations. The mineral wool segment comprising glass wool and stone wool dominated the market in 2016 owing to their relative small size and the ease of implementing it on the small pockets of walls and ceilings.
The key trend observed in the acoustic insulation market is the continuous increase in awareness regarding noise pollution. Health awareness and rising standard of living are likely to have a notable impact on the global acoustic insulation industry growth.
The major restraint observed in the study includes the declining construction industry in the European countries. The financial crisis owing to Brexit had drastic impact on the economy of Europe especially on the construction sector.
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The major players in the acoustic insulation market are adopting significant competitive strategies such as merger, acquisitions and joint ventures to hold a competitive stance in the global acoustic insulation market. Some of the key players in the global market include BASF SE, Johns Manville Inc., Knauf Insulation Gmbh and Owens Corning.
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