WELLESLEY, Mass., Aug. 15, 2018 (GLOBE NEWSWIRE) -- Health concerns, strict government regulations and increasing demand for transportation are all helping to drive the global acoustic insultation market, according to a report by BCC Research .
The industry expects to see a compound annual growth rate (CAGR) of 6.1% through 2022, when it could be worth more than $15.1 billion, according to the report Acoustic Insulation: Global Markets to 2022.
Major players in the market include Owens Corning, Johns Manville, Seidler Chemical, Bruchem, Hubbard-Hall, Cabot, Thermafiber, Acoustical Surfaces, Knauf Insulation, Armacell, Lloyd, Autex, Klean-Strip, PT Mertamina and Arabian Fiberglass Insultation Company.
Research Highlights
- Commercial building will lead by application, with a CAGR through the period of 6.5% and an estimated 2022 value of $3.5 billion, followed by residential building and industrial applications and aviation transportation.
- Stone wool will be the fastest-growing insulation type, with a CAGR through 2022 of 6.5%, although plastic wool will lead by size, with an estimated 2022 value of $5.2 billion.
- The Asia-Pacific region will lead the market by both size and growth, with an estimated 2022 value of $6 billion and a CAGR of 6.4%. Europe will grow at a CAGR of 6.3% while North America expects a CAGR of 6.0%.
“Rising consumer affluence among middle-class populations in various nations has driven a surge in sustainable building structures,” said BCC Research analyst and report author Aneesh Kumar. “Industries, gyms and workout centers, shipbuilding segments, control rooms, and cabinets all hold potential opportunities for growth of the insulation industry. The availability of economical raw materials and government initiatives in a region are expected to drive the demand for acoustic insulation globally.”
Government Initiatives Playing a Role in Industry Growth
Government regulations and goals aimed at controlling noise pollution are also helping to drive the global market for acoustic insultation. In the U.S., noise pollution abatement laws are setting emission standards for virtually every source of noise, including motor vehicle, aircraft and types of HVAC equipment. In Germany, a 2005 law protects people against noise from commercial activities, while there are also strict laws in the U.K., Italy, Japan, China and India.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com . Follow BCC Research on Twitter at @BCCResearch .
Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.
