August 29, 2023 20:15 ET | Source: Global Market Insights Inc. Global Market Insights Inc.
Selbyville, Delaware,, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Natural Fiber Wood Panels
The acoustic panel market valuation is predicted to reach USD 21.9 billion by 2032, as reported in a research study by Global Market Insights Inc. This growth is driven by the rising demand for effective noise reduction solutions across various industries and commercial spaces.
There is rising awareness regarding the adverse effects of noise pollution on human health and well-being. Acoustic panels not only minimize the impact of external noise but also contribute to creating a serene and conducive atmosphere for improved productivity, learning, and relaxation. Focus among consumers and organizations to seek viable noise control solutions, along with booming construction industry are fueling the product adoption. Moreover, the manufacturers are designing & developing aesthetically pleasing panels to improve their offerings.
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Acoustic panel market share from the mineral wool product segment is predicted to witness substantial growth from 2023 to 2032 as they offer exceptional sound absorption properties due to their unique structure, comprising fine fibers made from minerals like rock or slag. As mineral wool acoustic panels effectively trap sound waves, the transmission and reverberation within a space is reduced. Additionally, these panels are environmentally friendly and offer excellent fire resistance, making them a preferred choice in both commercial and residential construction. The superior acoustic performance and eco-friendly attributes are influencing product demand among customers.
Acoustic panel market share from the industrial application segment is poised to grow significantly through 2032. Industries such as manufacturing, automotive, and aviation often face challenges related to excessive noise levels generated during operations. Prolonged exposure to high noise levels can have detrimental effects on workers' health and productivity. Acoustic panels offer an effective and economical solution for noise control in industrial settings. By implementing acoustic panels, industries can ensure a safer and more comfortable working environment, enhancing overall operational efficiency. The increased industrialization and a growing emphasis on employee well-being & safety will bolster the demand for acoustic panels.
Asia Pacific acoustic panel market is expected to observe an impressive growth through 2032. Rapid industrialization, urbanization, and infrastructural development in countries such as China, India, and Japan have propelled the demand for acoustic panels. Additionally, the increasing awareness of noise pollution and its adverse effects on public health have further driven the adoption of acoustic solutions in the region. The governments in the region are enforcing noise control regulations and promoting sustainable construction practices. This factor, along with a flourishing construction industry, and rising consumer spending on improving living and working environments will present lucrative growth prospects for the market players in the region in the coming years.
Some of the major players in the global acoustic panel market are Saint-Gobain S.A., Knauf Insulation, ROCKWOOL International A/S, Owens Corning, Vicoustic, G&S Acoustics, Ecophon (a part of Saint-Gobain), CertainTeed Corporation (a subsidiary of Saint-Gobain), Burgeree, RPG Acoustical Systems LLC, Armstrong World Industries, GIK Acoustics, among others. These companies are working on improving their profits through strategic innovations like partnerships, expansion, mergers, and new product launches.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary 2.1 Acoustic Panel market 3600 synopsis, 2018 - 2032 2.1.1 Business trends 2.1.2 Regional trends 2.1.3 Product trends 2.1.4 Application trends Chapter 3 Acoustic Panel Market Insights 3.1 Industry ecosystem analysis 3.1.1 Distribution channel analysis trends 3.1.2 Vendor matrix 3.1.3 COVID-19 impact on value chain 3.2 Raw material outlook 3.3 Regulatory landscape 3.3.1 North America 3.3.2 Europe 3.3.3 Asia Pacific 3.3.4 Latin America 3.3.5 Middle East & Africa 3.4 Technology landscape 3.5 Pricing analysis, by region 3.5.1 North America 3.5.2 Europe 3.5.3 Asia Pacific 3.5.4 Latin America 3.5.5 Middle East & Africa 3.6 Cost structure Analysis 3.7 Industry impact forces 3.7.1 Growth drivers 3.7.2 Industry pitfalls and challenges 3.8 Innovation & sustainability 3.9 Growth potential analysis 3.10 Porter’s analysis 3.10.1 Supplier power 3.10.2 Buyer’s power 3.10.3 Threat of new entrants 3.10.4 Threat of substitutes 3.11 PESTEL analysis 3.12 Impact of COVID-19 on industry, by application 3.13 Impact of Russia Ukraine war on the industry
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Movable Partition Or Outdoor Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.