Architectural Acoustic Panels Market Size, Global Opportunities, Share, Growth, Industry Trends to 2027
The global ''architectural acoustic panels market'' sizeis projected to reach USD 9,752.8 million by 2027, exhibitinga CAGR of 4.1% during the forecast period. Development of acoustic panels madefrom eco-friendly and recycled organic waste will be a prime growth determinantfor this market, states Fortune Business Insights™ in its report, titled “ArchitecturalAcoustic Panels Market Size, Share & COVID-19 Impact Analysis, By ProductType (Metal Acoustic Panels, Plastic Acoustic Panels, Wood Acoustic Panels andOthers), By Application (Residential, Commercial and Industrial) and RegionalForecast, 2020-2027”. The construction industry predominantlyrelies on synthetic and inorganic materials such as polystyrene and glass woolfor thermal insulation and noise reduction. However, these materials are knownto have significant environmental impacts and as a result, acoustic panelmanufacturers are showing increasing interest in utilizing biodegradablematerials for making soundproofing solutions. For example, Soundproof Cow hasengineered the Quiet Batt™ 30 Soundproofing Insulation, which is made from 80%recycled cotton and is non-toxic as well as itch-free. Similarly, Audimute hasdeveloped its green sound absorption solution, the eco-C-tex, which has beenproduced from recycled cotton and cellulose. With regulatory bodies emphasizingon reducing pollution from buildings, the demand for green architectural acousticpanels is expected to rise in the coming years.
According to the report, the globalmarket value stood at USD 7,862.8 million in 2019. The topfeatures of the report include:
- In-depth examination of all the factors driving and restraining the market;
- Comprehensive analysis of the various market segments;
- Granular study of the regional developments shaping the market; and
- Actionable research into the competitive landscape of the market.
List of the Top Companies Profiledin the Global Architectural Acoustic PanelsMarket are:
- Vicoustic (Portugal)
- G&S Acoustics (USA)
- Hunter Douglas (Netherlands)
- Greener Acoustics (South Africa)
- USG BORAL (Australia)
- Knauf Insulation (USA)
- Armstrong (USA)
- STAR-USG (China)
- Abstracta (Sweden)
- Hebei Bo Run-de (China)
- Leeyin Acoustic Panel (China)
- Beiyang (China)
- Jiangsu Burgeree New Technology Materials Co, LTD. (China)
- Saint-Gobain (France)
- Beijing New Building Material (China)
Restraining Factor
Subdued Construction Activities amidCOVID-19 to Stifle Market Growth
A major challenge impeding thearchitectural acoustic panels market growth is the on-going and the steadilyintensifying COVID-19 pandemic that has caused unprecedented damage to theglobal construction industry. A recent survey by the London-based Royal Instituteof Chartered Surveyors (RICS) found that construction activity contractedacross the globe in the second quarter of 2020. With 25% of projects coming toa standstill and on-site productivity falling by 12%, the escalating costs areanticipated to exert tremendous pressure on the construction industry over thenext twelve months.
The adoption of architectural acousticpanels will be inevitably affected due to the sudden decline in constructionsas these panels are widely utilized for noise control in this industry.Moreover, disrupted investment plans will further hamper the market as acousticpanels are expensive.
Regional Insights
Massive Investments in Infrastructureto Propel the Asia Pacific Market
Asia Pacific is expected to dominatethe architectural acoustic panels market share during the forecast period onaccount of the massive public and private investment in infrastructuredevelopment in the region. The region is also witnessing a huge influx offoreign investments in the construction sector, which also favors the growth ofthe market. In 2019, the Asia Pacific market size stood at USD 3,533.4 million.
Europe is predicted to hold thesecond-largest position in the global market as a large number of multinationalcompanies in the region are rapidly adoption architectural acoustic panels tocomply with the green building regulations set by the European Union (EU).Robust growth of the construction industry in the US will accelerate the growthof the North America market in the forthcoming years.
Competitive Landscape
Apex Players to Implement AggressiveExpansion Strategies
With the intent to capture a largermarket share, key players in this market are aggressively implementingstrategies to entrench their position. Chief among these is the launch ofsound-absorbing solutions made from sustainable materials as the emphasis ongreen buildings is rising worldwide. The other strategy adopted by the leadingcompanies is the acquisition of regional players to deepen their presence inregional markets.
Browse Detailed Summary of ResearchReport with TOC:
https://www.fortunebusinessinsights.com/architectural-acoustic-panels-market-104454
Key Industry Developments:
- September 2020: Saint-Gobain announced the takeover of the Netherlands-based external insulation specialist, Strikolith, which registered sales worth €20 million in 2019. The acquisition will strengthen Saint-Gobain’s portfolio of External Thermal Insulation Composite Systems.
- February 2019: Baux, a top acoustics brand, collaborated with a team of scientists specializing in bio-mimicry to engineer a line of biodegradable acoustic panels termed as Baux Acoustic Pulp. The panels are made of plant-based, paper-like material, developed jointly with a Swedish design studio.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Trends
- Key Insights
- Technological Advancements
- Key Developments
- Regulatory Standards
- PORTER’s Five Forces Analysis
- PEST Analysis
- Global Construction Market Outlook
- COVID-19 Impact Analysis
- Supply Chain Challenges
- Steps Taken by Government/Companies to combat COVID-19
- Potential Opportunities due to COVID-19 Outbreak
- Global Architectural acoustic panels Market Analysis, Insights and Forecast, 2016-2027, By Product Type
- Key Findings / Summary
- Market Analysis, Insights and Forecast
- Metal Acoustic Panels
- Plastic Acoustic Panels
- Wood Acoustic Panels
- Others
TOC Continued…!
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