Sound Absorbing Material Market Report Overview
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The global sound absorbing material market size was USD 6642.7 million in 2021 and is projected to touch USD 9489.03 million by 2031, at a CAGR of 3.6% during the forecast period.
In practically every aspect of noise control engineering, materials that absorb sound are employed to lower sound pressure levels. • Identify the crucial physical characteristics and parameters that lead a material to soak up sound in order to use them effectively. • Provide a characterization of the acoustical efficiency of noise materials used to perform particular noise mitigation functions • Create innovative instruments to determine the ultrasonic criteria required to accomplish the soundproofing criteria of acoustic insulation and the sound absorbing achievement of sound insulators. • The addition of sound-absorbing materials to noise-control enclosures, covers, and wrappings to increase insertion loss and decrease reverberant buildup; • the control of reflected sound by adding sound-absorbing materials to the surfaces of rooms.
COVID-19 Impact: Decrease in Demand from the Automobile Sector due to the Restrictions Implemented by Various Governments
The global COVID-19 pandemic has been unprecedented and staggering; with the sound absorbing material market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 outbreak has had a negative impact on economic growth. Many governmental organizations and private sector businesses were operating at reduced capacity or had completely ceased operations as a result of the rapid conditions that followed the COVID-19 epidemic. Due to the shutdown of numerous public and private sector businesses, auto production has come to a stop. The absence of raw materials and a shortage of laborers both had an impact on the automobile sector. This had a negative impact on the sound absorbing material market. The desire for electric vehicles, however, is expected to drive growth in the automotive industry. This will result in a rise in the demand for sound absorbing materials, which is predicted to be a growth opportunity for the global market.
LATEST TRENDS
Introduction of Hybrid-Acoustics which is Utilize as an Insulator in Loud Sounding Powertrains
Hybrid-Acoustics is a novel material that Autoneum just unveiled. This is flameproof and a great deal lighter than typical insulators. It is used in loud sounding powertrains as an insulator installed on the power plant.
RESTRAINING FACTORS
"High Cost Associated with the Installation of this Product is Anticipated to Obstruct the Market Growth"
Despite the fact that sound absorbent materials offer many benefits for reducing noise pollution, they also have certain drawbacks, such as the expensive cost of installing such systems. The user must invest significant sums of money in the installation of these materials if they are to be used in industries or even construction. For large-scale organizations, this might not seem like a major deal, but for small- and medium-sized businesses, it might require a significant portion of their cash to invest in the sound-absorbing material. The high initial cost of installing this sound absorbing material can impede the sound absorbing material market growth.
Sound Absorbing Material Market Segmentation
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By Type
Based on type the market is divided into Acoustic Plastic Foam, Glass Wool and Stone Wool
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By Application
Based on application the market is distributed into Building & Construction, Transportation and Others
DRIVING FACTORS
"Increased Consumer Awareness and Strict Government Regulations to Drive the Market Demand"
The dynamics of the sound absorbing material market will be influenced by increased consumer awareness of noise pollution and significant growth in the building sector in developing countries like South Korea. Market for lowering substances in homes and businesses around the world will increase as a result of strict government regulations aimed at reducing the harmful effects of high noise levels and raising living standards.
"Better Concentration, Greater Communication and Reduced Worker Stress can be Achieved by Installing Acoustic Solutions in the Equipment"
Workers may focus and concentrate at hand without being sidetracked by machinery noises by minimizing the number of sound produced by construction equipment. Additionally, it encourages improved communication between workers when undertaking group projects or in potentially risky circumstances. The physical and mental wellbeing of construction workers is substantially impacted by sound. Increased noise levels can induce mental stress that lowers worker productivity as well as hearing loss as well as other ear-related problems. These worries are lessened by lower workplace noise levels. It is in the best interest of original equipment manufacturers (OEMs) to include such acoustical solutions in their equipment as it makes construction equipment that permits these advantages more desirable to consumers.
Sound Absorbing Material Market Regional Insights
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"Europe holds the Largest Market Share due to the Regions Awareness of Green Construction and Environmental Regulations to use Acoustic Insulation"
The largest sound absorbing material market share is held by Europe. Product demand is projected to increase as regional awareness of green construction, the internet of things, and local infrastructure increases. Increasing sound absorbing material brand awareness will be beneficial for the region's construction industry and government officials. The development of the sound absorbing material business will be fueled by environmental regulations in European countries that mandate the use of acoustic insulation materials in academic institutions. The demand for sound absorbing material is growing in response to the growing desire to lessen bothersome noises including echoes, high-pitched laughter, and other annoying noises, which is encouraging the market for soundproofing in the area.
KEY INDUSTRY PLAYERS
"Major Player Involved in this Market are Investing Heavily in R&D to Create Unique Technologies"
Saint-Gobain, ROCKWOOL, Knauf Insulation, Owens Corning, and Johns Manville are a few of the major market participants in the international sound absorbing material sector. Major manufacturers of the sound absorbing material industry are investing significantly in R&D to create unique technologies, which would further contribute in less noise pollution and a sustainable and environment climate. In addition, the players are testing out organic and inorganic marketing techniques to advertise their goods and reach a wider audience of consumers.
List id Market Players Profiled
- Saint-Gobain (France)
- ROCKWOOL (Denmark)
- Knauf Insulation (U.S.)
- Owens Corning (U.S.)
- Johns Manville (U.S.)
- Minwool Rock Fibres (India)
- Ravaber (Turkey)
- NGP Industries (India)
- DuPont (U.S.)
- BASF (Germany)
- Petralana (Poland)
- Pyrotek (U.S.)
- Paulstra (France)
REPORT COVERAGE
This report covers the sound absorbing material market. The CAGR expected to be in during the forecast period, and also the USD value in 2021 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 6642.7 Million in 2022 |
Market Size Value By |
US$ 9489.03 Million by 2031 |
Growth Rate |
CAGR of 3.6% from 2022 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the sound absorbing material market expected to touch by 2031?
The sound absorbing material market is expected to reach USD 9489.03 million by 2031.
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What CAGR is the sound absorbing material market expected to exhibit by 2031?
The sound absorbing material market is expected to exhibit a CAGR of 3.6% by 2031.
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Which are the driving factors of the sound absorbing material market?
Increased consumer awareness and strict government regulations to drive the market demand and better concentration, greater communication and reduced worker stress can be achieved by installing acoustic solutions in the equipment are the driving factors of the sound absorbing material market.
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Which are the top companies operating in the sound absorbing material market?
Saint-Gobain, ROCKWOOL, Knauf Insulation, Owens Corning, Johns Manville, Minwool Rock Fibres, Ravaber, NGP Industries, DuPont, BASF, Petralana, Pyrotek, Beiyang, and Paulstra and Guo Zhihui Fu Polymer Material are the top companies operating in the sound absorbing material market.