The Acoustic Insulation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Acoustic Insulation Global Market Report 2024, The acoustic insulation market size has grown strongly in recent years. It will grow from $14.58 billion in 2023 to $15.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to construction industry growth, regulatory standards, urbanization, automotive industry demand, consumer preferences.
The acoustic insulation market size is expected to see strong growth in the next few years. It will grow to $21.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to smart cities initiatives, energy efficiency concerns, growth in hospitality sector, renewable energy projects, government initiatives, global pandemic impact. Major trends in the forecast period include advancements in material technologies, sustainable insulation solutions, technological integration for smart buildings, HVAC systems.
The increase in awareness regarding noise pollution is contributing to the growth of the acoustic insulation market. The World Health Organization (WHO) defines noise pollution as any sound that is above 65 decibels (dB). Also, noise becomes harmful as it exceeds 75 decibels (dB) and is painful above 120 decibels (dB). Major reasons for noise pollution are traffic noise, noise at construction sites, rapid industrialization, etc. Moreover, due to rapid urbanization, most of the population is exposed to noise pollution, and consumers and corporates are increasingly investing in soundproofing or acoustic insulation products to reduce the sound levels inside homes and office facilities. Acoustic insulation reduces external noise and helps in reducing sound transmission and vibration. According to the European Environmental Agency, 20% of the population lives in areas where noise levels are considered to be harmful. The rise in noise pollution forced companies to develop solutions for buildings with soundproof walls, and acoustic insulation proved a better method of soundproofing. Thus, increasing awareness of noise pollution drives the growth of the acoustic insulation market.
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The acoustic insulation market covered in this report is segmented –
1) By Type: Mineral Wool, Glass Wool, Polymeric Foams, Natural
2) By End-User Industry: Building & Construction, Transportation, Oil & Gas, Energy & Utilities, Industrial & OEM
Major companies operating in the acoustic insulation market are increasing their focus on introducing high-performance acoustic insulation, such as QTech, to gain a competitive edge in the market. QTech is a high-performance acoustic insulation solution designed to effectively reduce sound transmission and improve acoustic comfort in various applications, including residential, commercial, and industrial buildings. For instance, in June 2023, Isover, a Germany-based building company, launched QTech, a new lightweight mineral wool product designed for medium-temperature industrial applications. QTech is available in felt, wired mats, slabs, and boards, offering excellent thermal properties and reducing heat loss. The product is easy to handle and cut, lightweight, and can be bent around flat or slightly curved surfaces, making it a flexible and efficient solution for industrial applications. It is developed for medium-temperature applications in industry, offering exceptional thermal conductivity and reducing heat loss.
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