Global Acoustic Insulation Market Is Expected To Reach US$ 16.84 Bn By 2025: Increasing Government Norms Against Noise Pollution, Rising Standard Of Living, And Increasing Health Awareness To Facilitate Market Growth
The latest market report published by Credence Research, Inc. “Acoustic Insulation Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global acoustic insulation market was valued at US$ 10.39 Bn in 2016, and is expected to each US$ 16.84 Bn by 2025, expanding at a CAGR of 6.1% from 2017 to 2025.
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Rising demand for sound quality auditoriums, music studios, and corporate workplaces are the key factors driving the global acoustic insulation market. The product not only curbs the ill effects of noise but also boosts sound quality of the enclosed surroundings. Over 47 million homes in the U.S. were under-insulated in 2016, which represent a strong market potential for the U.S. acoustic insulation market. Therefore, consistent strong sales growth is observed in North America.
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Polystyrene, glass wool, and rock wool are majorly used insulation materials for better noise pollution control. Rising noise pollution owing to a change in lifestyle together with regulatory norms for sustainable infrastructure are the major factors driving in acoustic insulation demand in commercial and residential spaces.
Manufacturing, construction, oil platforms, and electronics are some of the industries employing sound proofing materials and are witnessing considerable market growth. As per the analysis, transportation and construction and building segments are expected to register the highest gains over the forecast.
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Population growth combined with high urbanization and industrialization rates in the emerging markets, such as Brazil, China, India, South Africa, Mexico, and Russia, has generated the necessity for better residential and industrial infrastructure.
APAC registered for over 43% of the construction spending market in 2016 in terms of revenue the region generated close to US$ 4.5 Bn business. China was the largest market in APAC.
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