(MENAFN- Prophecy Market Insights ) The report " Global Acoustic Insulation Market, By Type (Fiberglass/Glass Wool, Rock Wool, and Foamed Plastic (EPS and XPS)), By End-user Industry (Residential Construction, Commercial Construction, Transportation, and Industrial), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029 " Global Acoustic Insulation market accounted for US$ 15,012.47 million in 2019 with a CAGR of 5.80%. Rapid growth in the construction sector across emerging economies, coupled with increasing awareness among the consumers regarding noise pollution is the major factor driving growth of the global market. In addition, growing demand in the entertainment industry including corporate workplaces, music studios, cinema halls, and auditoriums for sound absorption materials will provide a positive scope for the global acoustic insulation market over the forecast period.
In October 2017, Kingspan has announced the acquisition of Isoeste, a Brazilian insulation panel company, to meet the needs of growing demand for acoustic products from the Latin American region.
On January 22, 2020, Johns Manville Company, announced plans to build a polyiso production plant in Hillsboro, Texas.
Key Market Insights from the report:
The global Acoustic Insulation market accounted for US$ 15,012.47 million in 2019 and is projected to register a moderate CAGR of 5.80% over the forecast period. The market report has been segmented on the basis of type, end user, and region.
By type, rook wool type segment dominates the global market, owing to its properties, including excellent sound absorption, high density, fire resistance, moisture and water repellant, and heat insulation properties.
By end user, construction segments accounted for the largest market share. The dominance of the segment is attributed due to surge in population and urbanization in countries including India and China.
By region, Asia-Pacific is projected to lead the global acoustic insulation market and is expected to remain dominant during the forecast period, due to government regulations, increased infrastructure investments, along with a rise in health-related problems. In addition, growing noise pollution in several metropolitan cities and rapid surge in infrastructural activities will proliferate the global acoustic insulation market demand in the region.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Acoustic Insulation Market, By Type (Fiberglass/Glass Wool, Rock Wool, and Foamed Plastic (EPS and XPS)), By End-user Industry (Residential Construction, Commercial Construction, Transportation, and Industrial), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029
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The prominent player operating in the global acoustic insulation market includes Rockwool International, Saint Gobain, Knauf Insulation, Johns Manville, Owens Corning, Paroc Group, Kingspan Group, Armacell International, BASF SE, Fletcher Insulation.
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