Sellbyville, DE -- (SBWire) -- 05/08/2019 --The acoustic insulation market from transportation applications is projected to witness a significant growth from 2018 to 2025. Automotive manufacturers are looking at solutions for reducing the overall vehicle weight along with improved acoustical parameters. Product development with improved fire performance rating, sound absorption, and deadening properties is supporting the business expansion.
Further, increasing automotive production and the growing demand for luxury vehicles will generate new growth opportunities. According to OICA, the global motor vehicle production increased from around 77.6 million units in 2010 to 97.30 million units in 2017.
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Rapid industrialization accompanied by stringent government regulations toward reducing noise pollution and enhancing green building construction will surge the acoustic insulation market. Rising consumer awareness on adverse health effects of sound pollution, such as enhanced stress levels, hypertension, and sleep disturbances, is driving the product adoption. Noise levels have significantly increased over the past few years owing to the rapidly expanding industrial sector and rise in manufacturing activities. Globally, governments are expected to implement necessary measures to reduce the adverse effects of high noise levels.
Strategic R&D investments for enhancing properties, such as sound absorption and resistance to heat, moisture, and corrosion, will support product penetration in diverse application segments. The acoustic insulation industry observes an increasing count of product launches providing both acoustic as well as thermal insulation to improve energy efficiency. Further, modifications in legislation for promoting sustainable development to reduce environmental effects will augment the industry share.
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Strong growth in the construction sector particularly in the developing countries of Asia Pacific and Latin America owing to a rise in private & government spending is providing an impetus to the acoustic insulation market. Manufacturers are expanding their existing production capacities to cater to the growing soundproofing material demand.
For instance, in July 2018, Knauf Insulation announced to invest around USD 135 million for building a mineral wool manufacturing facility in Malaysia. However, the raw material prices volatility is among the key challenges faced by the industry participants.
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The global acoustic insulation market was dominated by plastic foam, which accounted for over USD 6 billion in 2018. Plastic foam is segmented into Expanded Polystyrene (EPS) and Extruded Polystyrene (XPS). The key aspects, such as extreme lightweight, excellent sound absorption, low thermal conductivity, and high flexibility, will fuel the product demand over the forecast timeframe. In addition, the product is available in various compressive strengths to support various applications. For instance, EPS with high compressive strength can be used in heavy-weight applications.
What's Driving the Acoustic Insulation Market Share? Rockwool International, Knauf Insulation, Owens Corning, BASF, Kingspan
The acoustic insulation market from transportation applications is projected to witness a significant growth from 2018 to 2025. Automotive manufacturers are looking at solutions for reducing the overall vehicle weight along with improved acoustical parameters.