Acoustic Insulation – Procurement Best Practices & Sourcing Strategies

DESCRIPTION

Acoustic Insulation Market Global Size:

The global acoustic insulation procurement market is an emerging industry that concentrates on reducing and controlling sound pollution’s adverse impacts on the well-being of the worldwide population. This constantly increasing awareness propelled a market size of USD 14.66 billion in 2022. Further, ELINT Market Research projected a balanced growth at a CAGR of 4% for this sector to reach USD 20.87 billion worth by 2031.

Additionally, in the international acoustic insulation market, Asia-Pacific regions appeared as the leaders, which are progressively contributing around 21% to the overall market expansion. Further, the report suggests that this country will experience the highest growth by the period of 2026 with a CAGR of 5.5 percent.

Additionally, the global acoustic insulation market provides effective solutions and materials to decrease sound wave transmission in various essential sectors such as construction, automobile, aerospace, commercial, and industrial. In these sectors, excessive amounts of noise are produced due to heavy machinery operations; hence, industry players opt to perform sound control moves for workers’ and people’s comfort and safety.

Market Definition:

Acoustic insulation refers to the handy procedure that aims to improve companies’ productivity, decrease anxiety levels, ensure protection, and adhere to governmental noise control regulations. Continuously developing construction and industrial projects driving vast requirements for acoustic insulation methods in both developing and developed economies. Further, the most preferable products of the acoustic insulation industry include insulating boards, walls, foaming substances, textiles, and hurdles. The fundamental objective of these products is to address and fulfill noise reduction needs across different industries. Additionally, effective soundproofing technologies and tools are emerging in the worldwide acoustic insulation sector, which mainly assists businesses in minimizing noise transmission, and building calmer surroundings for workers to work.

Acoustic Insulation Market Drivers:

1. Rise of Stringent Noise Control Regulations –

As stringent noise control guidelines rise across diverse worldwide industries and regions by governments, the demand for effective acoustic insulation solutions also extends, which automatically drives enormous market growth.

2. Increase in Construction Industry Projects –

The construction industry is known for creating excessive amounts of noise to execute their construction operations; hence, this sector primarily necessitates the utilization of acoustic insulation services. Expanded construction movements fueled the need for noise barrier materials, especially in residential and commercial areas.

Acoustic Insulation Market Challenges:

1. Upheavals in Supply Chain –

A few significant factors like trade restrictions, high inflation, geo-political tensions, rising energy prices, and conveyance difficulties cause upheavals in smooth supply chain execution in the global acoustic insulation procurement intelligence market. These disruptions can affect the availability of raw materials, production operations, and supply of insulation products.

2. Elevated Prices of Raw Materials –

Market players holding limited budgets face the challenge of facilitating acoustic insulation products with advanced features and outstanding performance. Hence, it is a major challenge for price-sensitive economies in the international noise control sector.

Acoustic Insulation Market Opportunities:

1. Production of Energy Efficient Acoustic Insulation Goods –

Businesses are adopting energy-efficient acoustic insulation goods for their buildings and infrastructure projects. This trending opportunity contributes to energy savings by lowering heat loss or gain. Consequently, companies may establish themselves as industry leaders by meeting the increasing need for environmentally friendly and energy-effective building solutions.

2. Extending Need for Aerogel –

Aerogel is a versatile and new material in the market, which several industry participants are adopting in place of old materials like glass wool, EPS, etc. However, aerogel works as a more competent material than glass wool to manufacture acoustic insulation goods. Additionally, aerogel prices are anticipated to decrease in the near future, due to increased research and development efforts of organizations.

Acoustic Insulation Market Segmentation:

1. Types of Sales Channels –

The sales channels of acoustic insulation products include offline and online stores. Consumers can physically visit offline shops and interact with skilled workers to buy the right products depending on their needs. These stores include hardware stores, retail marts, home makeover shops, etc. Moreover, online sales marketplaces are also getting popular, where purchasers render shopping while lounging in their offices or homes. Manufacturers can sell products by either presenting products on their own websites or on famous e-commerce platforms like Amazon, Flipkart, etc.

2. End User Industries –

Another fundamental segmentation factor for the global acoustic insulation industry is diverse end-user industries, among which the construction sector appeared as the biggest end-user of acoustic insulation solutions. The reason behind this is construction companies employ soundproofing materials to build residential, retail, and institutional buildings. This way, these building holds calmer surroundings and provide comfortable living and working environments to people. In addition, some other key end-user industries of acoustic insulation products include manufacturing, transportation, electricity generation, oil, and gas since they demand effective noise management services to guarantee labor safety and adhere to legal regulations.

Regional Analysis of Acoustic Insulation Market:

This procurement market analysis revealed that European regions like the United Kingdom, France, Italy, Spain, and Germany dominated the global acoustic insulation market, owning $11.18 billion worth in 2021, and also expected to develop at a CAGR of 3–4 percent until 2026. Noteworthy factors for expansion in European areas include their robust existence in the construction, automotive, power generation, and aerospace sectors, where noise control regulations are very strict. Moreover, the other two fundamental emerging territories along with their valuations for the year 2023 and growth rates for 2026 include North America with a $7.56 billion value and 3–4 percent CAGR and APAC with $6.35 billion worth and 4–5 percent CAGR. Additionally, the rest of the worldwide provinces held a $5.14 billion market size for acoustic insulation services in 2023 and are projected to expand at a CAGR of 1–2 percent until 2026. Consequently, these facts and figures showcase that Europe, North America, and APAC nations are anticipated to become leaders in the acoustic insulation sector by the forecasted period due to the presence of renowned businesses that are constantly executing manufacturing, supplying, and consumption activities in the global acoustic market.

Key Suppliers in the Acoustic Insulation Market:

Key suppliers of the international acoustic insulation industry comprise BASF​, Knauf Insulation​, Owens Corning​, Saint-Gobain​, and Rockwool International​.