August 15, 2018
WELLESLEY, Mass., August 15, 2018 – Health concerns, strict government regulations and increasing demand for transportation are all helping to drive the global acoustic insultation market, according to a report by BCC Research.
The industry expects to see a compound annual growth rate (CAGR) of 6.1% through 2022, when it could be worth more than $15.1 billion, according to the report Acoustic Insulation: Global Markets to 2022.
Major players in the market include Owens Corning, Johns Manville, Seidler Chemical, Bruchem, Hubbard-Hall, Cabot, Thermafiber, Acoustical Surfaces, Knauf Insulation, Armacell, Lloyd, Autex, Klean-Strip, PT Mertamina and Arabian Fiberglass Insultation Company.
“Rising consumer affluence among middle-class populations in various nations has driven a surge in sustainable building structures,” said BCC Research analyst and report author Aneesh Kumar. “Industries, gyms and workout centers, shipbuilding segments, control rooms, and cabinets all hold potential opportunities for growth of the insulation industry. The availability of economical raw materials and government initiatives in a region are expected to drive the demand for acoustic insulation globally.”
Government Initiatives Playing a Role in Industry Growth
Government regulations and goals aimed at controlling noise pollution are also helping to drive the global market for acoustic insultation. In the U.S., noise pollution abatement laws are setting emission standards for virtually every source of noise, including motor vehicle, aircraft and types of HVAC equipment. In Germany, a 2005 law protects people against noise from commercial activities, while there are also strict laws in the U.K., Italy, Japan, China and India.
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Acoustic Insulation: Global Markets to 2022( AVM153A )
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