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.
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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.
Some of the prominent players operating in the Global Acoustic Materials Market are BASF SE (Germany), 3M Company (U.S.), The Dow Chemical Company (U.S.), Covestro AG (Germany), Huntsman International LLC (U.S.), Henkel AG & Co. KGaA (Germany), E. I. du Pont de Nemours and Company (U.S.), Toray Industries, Inc. (Japan), LyondellBasell Industries N.V. (U.K), and Sika AG (Switzerland) among others.
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- Acoustic Materials Manufacturers
- Traders and Distributors of Acoustic Materials
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
The Global Acoustic Materials Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow with the highest CAGR during the review period, 2017 to 2023 on account of expanding construction industry. The demand for Acoustic Materials is predicted to surge in numerous countries of the Middle East & Africa such as Iraq, the United Arab Emirates, Saudi Arabia, Iran, and Kuwait due to increasing construction projects. Moreover, the presence of established travel & tourism industry which is considered to be the top contributors to total gross domestic product (GDP) and it is anticipated to burgeon over the forecast period.
North American Acoustic Materials Market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In North American region, the U.S. is predicted to be the major contributor in the global growth of Acoustic Materials Market and is expected to see a significant demand for Acoustic Materials during the forecast period, 2017 to 2023. As of 2016, the U.S accounts for the largest market share in terms of value & volume and is estimated to grow with the moderate CAGR owing to the rising demand in for Acoustic Materials in the industries. In Europe, the demand for Acoustic Materials is predicted to grow in various countries such as Italy, Germany, Spain, U.K, France, and Russia on account of increasing expenditure in innovation and growing purchasing power of consumers. Moreover, presence of major automobile manufacturers specifically in Germany is expected to give a momentum to the market growth. Furthermore, high-quality acoustic materials will provide exceptional vibration insulation and absorption is luring the automotive manufacturers in order to provide comfort and luxury. Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in acoustic materials. Asia Pacific acoustic materials market is predicted to grow with the higher CAGR due to developing construction and petroleum industries especially in India and China. Moreover, continuous growth of automotive sector in various economies of Asia Pacific such as China, India, Malaysia, Thailand, and Japan is expected to raise the demand for acoustic materials which in turn is predicted to fuel the demand for Acoustic Materials over the forecast period, 2017 to 2023.
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.
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