The acoustic insulation market is expected to register a CAGR of over 5%, during the forecast period. The major factors driving the market studied include the growing interest of consumers for acoustic insulation, for commercial and residential purposes. Stagnant industrial growth in the developed countries is expected to significantly hinder the growth of the market studied.
– Asia-Pacific is expected to dominate the global market, during the forecast period.
– Demand for aesthetic prospects and fire-resistant properties for acoustic insulation is likely to act as an opportunity, in the future.
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Key Market Trends
Rising Demand from the Commercial Construction
– The commercial buildings include buildings used for offices, retail, cinema, and other leisure outlets used for conducting operations of the enterprises.
– In commercial buildings, acoustic insulation materials find extensive application in walls, floors, ceilings, waste-water pipes, plant rooms, etc.
– In commercial buildings, there are certain guidelines to avoid external noise intrusion, internal noise, and noise from building services. However, the type of insulation required in the building varies according to the building structure and its need. Commercial construction has been growing at a noticeable pace in Asia-Pacific and Middle East & Africa.
– Asia-Pacific and Middle East & African countries are experiencing huge domestic as well as foreign investments for setting up industrial units, hospitals, malls, multiplexes, hospitality industry, and IT sector.
– Asia-Pacific is an attractive market for foreign companies, due to healthy economic performance of the countries, like India, China, Indonesia, etc., and efforts made by the Middle Eastern countries to develop its tourism and other non-oil sectors, which are driving commercial construction activities in these regions.
– The Indian government has also set an investment target of USD 120.5 billion for developing 27 industrial clusters; this is expected to boost commercial construction in the country.
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