Acoustic Materials Market is Expected to Grow at a CAGR of 3.7%, Reaching a Valuation of US$ 2058.89 Million from 2022-30

Acoustic Materials are majorly used to reflect or absorb the sound waves coming from different sources. These materials have major applications in residential and non-residential buildings and heavy machinery containing industries.

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Some of the prominent factors that positively influence the growth of Acoustic Materials Market are increasing mainstream industries such as oil & gas, chemicals and automotive owing to suppress the industrial machinery noise, rising demand for Acoustic Materials in housing industry owing to provide peaceful indoor environment, and increasing urbanization results into building new commercial properties. Increasing urbanization along with rising per capita disposable income in developed and emerging economies are predicted to drive the growth of the market over the forecast period, 2022 to 2030. Performing world-class research on advanced acoustic systems and intelligent acoustic processing, giving birth to new technologies with tremendous exploitation potential is expected to drive the market over the forecast period.  Moreover, continuous expansion of automotive sector as well as shifting manufacturers focus towards engine noise cancellation vehicles are estimated to fuel the growth of the market during the review period, 2022 to 2030. However, growing environmental concern regarding the toxic effect of chemicals used in Acoustic Materials along with the implementation of strict regulations are predicted to hinder the market growth over the assessment period, 2022 to 2030.

Key Players:

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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Segmentation:

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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Regional Analysis:

Asia Pacific is estimated to be the largest Acoustic Materials Market followed by North America and Europe due to strong existence of ongoing construction of residential and industries. In Europe, Germany, Russia, and Spain are predicted to register a strong growth on account of tremendous demand for acoustic materials for cancelling noise from engine in automobile manufacturing. In Asia Pacific, countries such as China, India, and South Korea are the fastest growing market for acoustic materials, and is estimated to grow with the same pace over the forecast period. Improving living standards along with the flourishing growth of housing sector is predicted to contribute to the regional market growth. In North America, U.S and Mexico are among the major contributors in the regional market growth due to increasing house renovations and manufacturing industries. In South America, Mexico is expected to register strong growth due to robust presence of automobile manufacturers.

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