Synopsis of Acoustic Materials Market:
Acoustic Materials are for modifying the reverberations, there are two types of materials, one is sound absorbent and the other is sound reflecting or diffusing, to the surfaces of ceilings, walls, and floors. These Acoustic Materials possess characteristics exhibit vibrational resistance, inertness when exposed to outdoor conditions and energy saving in industrial applications. Additionally, these acoustic materials have sound dampening, characteristics and it is used in acoustics application. They have applications in major end use industries such as construction, oil & gas, and electrical & electronics.
As per our Analysis, some of the prominent market factors and trends identified in the Global Acoustic Materials Market include rapid industrialization owing to the demand for dampening high decibel sound originating from the machinery, rising demand from residential applications owing to the need for dampening the outdoor sounds, and increasing expenditure on research activities. Moreover, demand for Acoustic Materials is predicted to witness significant growth over the assessment period due to surging construction industry. The Global Construction Market is anticipated to increase at an impulsive pace than world GDP over the forecast period. As Asian economies continue to industrialize and the US recovers from the sharp downturn during the global financial crisis is driving the construction industry. This is anticipated to be an important driver for Acoustic Materials Market during the review period. Increasing automobile production and sales along with rising consumption of acoustic materials is estimated to fuel the growth of the market. Furthermore, rapid urbanization coupled with increasing disposable income in emerging economies is predicted to propel the growth of the market during the assessment period, 2017 to 2023. However, implementation of strict regulations by various government bodies have restricted the use of toxic organic chemicals used in the production of Acoustic Materials, which is expected to hamper the growth of the market.
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Acoustic Materials are majorly used to reflect or absorb the sound waves coming from different sources. These materials have major applications in residential and non-residential buildings and heavy machinery containing industries.
Some of the prominent factors that positively influence the growth of Acoustic Materials Market are increasing mainstream industries such as oil & gas, chemicals and automotive owing to suppress the industrial machinery noise, rising demand for Acoustic Materials in housing industry owing to provide peaceful indoor environment, and increasing urbanization results into building new commercial properties. Increasing urbanization along with rising per capita disposable income in developed and emerging economies are predicted to drive the growth of the market over the forecast period, 2017 to 2023. Performing world-class research on advanced acoustic systems and intelligent acoustic processing, giving birth to new technologies with tremendous exploitation potential is expected to drive the market over the forecast period. Moreover, continuous expansion of automotive sector as well as shifting manufacturers focus towards engine noise cancellation vehicles are estimated to fuel the growth of the market during the review period, 2017 to 2023. However, growing environmental concern regarding the toxic effect of chemicals used in Acoustic Materials along with the implementation of strict regulations are predicted to hinder the market growth over the assessment period, 2017 to 2023.
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Key Players:
- BASF SE
- 3M Company
- The Dow Chemical Company
- Covestro AG
- Huntsman International LLC
- Henkel AG & Co. KGaA
- E. I. du Pont de Nemours and Company
- Toray Industries, Inc.
- LyondellBasell Industries N.V.
- Sika AG
Segmentation:
The Global Acoustic Materials Market is categorized on the basis of material, end use industry, and region. On the basis of material, the market is bifurcated into polyurethane foam (PU), Glass Fiber, acrylonitrile butadiene styrene (ABS), polypropylene, polyvinyl chloride (PVC) and others. On the basis of application, the Acoustic Materials Market is categorized into industrial, residential, commercial, automotive parts; heating, venting and air conditioning (HVAC), and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Regional Analysis:
Asia Pacific is estimated to be the largest Acoustic Materials Market followed by North America and Europe due to strong existence of ongoing construction of residential and industries. In Europe, Germany, Russia, and Spain are predicted to register a strong growth on account of tremendous demand for acoustic materials for cancelling noise from engine in automobile manufacturing. In Asia Pacific, countries such as China, India, and South Korea are the fastest growing market for acoustic materials, and is estimated to grow with the same pace over the forecast period. Improving living standards along with the flourishing growth of housing sector is predicted to contribute to the regional market growth. In North America, U.S and Mexico are among the major contributors in the regional market growth due to increasing house renovations and manufacturing industries. In South America, Mexico is expected to register strong growth due to robust presence of automobile manufacturers.
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