Acoustic Insulation Market Trends

Growth Drivers

• Growing Preference for Green Buildings and Environmentally Friendly Constructions – Increasing the number of policies to build eco-friendly buildings and rising the focus of government to minimize carbon footprint across the world is set to fuel the industry dynamics. The need for a noise-free environment for schools, hospitals, conference halls, and old age homes is also estimated to propel the  acoustic insulation market growth. It was observed that nearly half of the firms in the construction sector are estimated to be involved with more than 58% of green building projects in 2021 across the globe.
• Rising Health Issues caused by Synthetic Fibres – The use of synthetic fibers for soundproofing and insulation is estimated to cause skin problems and respiratory issues across the world. Hence, the synthetic insulation is replaced with acoustic insulation which positively impacts the market size. Also, the presence of oxidizing agents, irritants, and carcinogens, with the highly flammable nature of the other sound-absorbing materials reduced its application increasing the demand for acoustic insulation.

• Increasing Automobile Industries around the World – Increasing automobile producers with rising demand for lightweight and electric vehicles is poised to boost the market expansion. The growing traction toward affordable, less expensive, and efficient insulation with fire resistance is stated to hike the acoustic insulation market growth in the automobile sector.

Challenges

• Reduced Construction Sector – The construction sector in COVID-19 was hugely impacted owing to a shortage of labor, and supply disruption in the raw materials is estimated to hamper the industry growth. Prevention of transportation and rise in prices are also set to hinder the growth of the market. Further, the government regulations to eliminate raw materials with greenhouse gases in the construction sector are poised to limit the market growth as per the market analysis during the forecast time frame.
• Lack of Awareness and Value of Acoustics
• High Initial Capital Cost