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Kenneth Research recently added a report on ' Acoustic Foam Insulation market ' which offers a complete evaluation of the market and its growth prospects along with new business opportunities in the industry. The report contains the market size and annual growth rate for a forecast period between 2022 and 2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Acoustic Foam Insulation market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
Acoustic insulation or soundproofing is a technique of reducing sound transmission from one area to another. Sound or acoustic insulation is largely utilized to reduce the noise emission from automotive and industries. Foam based noise control techniques are termed as acoustic foam insulation.
Acoustic foam insulation is most favored due to its property of making stress free environment in otherwise noisy areas such as large manufacturing plants, automotive, and aerospace. Building & construction is another major area, which accounts for major demand for acoustic foam insulation. The strict regulation of government towards acoustic insulation in building is one of the key parameters driving the market demand for acoustic foam insulation.
The demand for acoustic foam insulation is growing consistently, especially in European and Asia Pacific markets. This growth is supported by increasing“transportation” and“building & construction” sectors respectively. Currently, Europe is the global leader in the acoustic foam insulation market with Germany being center for premium transportation market. Premium transportation coupled with high standard of living and stringent regulations, Europe accounts for maximum contribution to the global acoustic foam insulation market. Asia Pacific is expected to grow with the fastest growth rate during the forecast period due to growing industrial penetration and increasing per capita income in developing countries.
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From the material end, open cell polyurethane foams give high level of fire resistance which makes it suitable for the use in various construction applications. Polyether polyurethane foam is the leading material used in acoustic foam insulation due to relatively cheaper price and good sound proofing quality. Polyester polyurethane has the high cost in comparison to polyether polyurethane due to which it has relatively low market in the acoustic foam insulation market. One of the most expensive, melamine foam is growing in popularity for its light weight property, creating usage especially in aircraft and ceiling panels.
The study of the global acoustic foam insulation market provides the market size information and market trends along with the factors and parameters impacting it in both short and long term. The study ensures a 360 view, bringing out the complete key insights of the industry. These insights help the business decision makers to make better business plans and informed decisions for the future business. In addition, the study helps the venture capitalist in understanding the companies better and take informed decisions.
the Global Acoustic Foam Insulation market is expected to grow at a CAGR of 5.9% during the forecast period to reach $7.80 billion by 2022. Industrial applications segment is expected to maintain global dominance in application segments, whereas China and India driven Asia Pacific region is expected to increase its regional share in global acoustic foam insulation. Some of the key players in acoustic foam insulation are BASF, Techlite, PolyOne Corporation, and Dow Chemicals.
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About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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