December 15, 2021 09:15 ET | Source: Quince Market Insights Quince Market Insights
Pune, India, Dec. 15, 2021 (GLOBE NEWSWIRE) -- The global impact sound insulation acoustic mat market has been estimated to be USD 3.7 billion in 2021 and is projected to exhibit a CAGR of 7.60% during the forecast period, according to a recent market study by Quince Market Insights. The impact sound insulation acoustic mat is used for developing soundproof materials and controls the sound levels in the environment and is useful for certain regulatory compliances.
The impact sound insulation acoustic mat market is also known for developing acoustic insulation material, which enables soundproofing and reduces noise pollution. These materials are used in architecture, buildings, and other commercial premises for the absorption of different loud and unwanted noises, which can cause stress.
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With increased population, the market is witnessing the increasing demand for sound insulation in malls, hotels, and other construction. The construction of these complexes has resulted in the increasing installation of acoustic fiber materials.
The lack of consumer awareness among the developing and underdeveloped economies have restricted the entry of the impact sound insulation acoustic mat market, which has resulted in the loss of opportunity. Moreover, the customers of this region are only aware about the acoustic material as a soundproofing product. However, the customers are not yet ready to invest in sound insulation acoustic mat products.
Global Impact Sound Insulation Acoustic Mat Market, by Material
Based on the material, the global impact sound insulation acoustic mat market is segmented into rubber, foam, and cork. Among these, the rubber segment is witnessing the fastest growth as they are widely used in the industrial and commercial areas due to their excellent acoustic performance features.
Apart from this, the development of the new foam-based product having higher range of acoustic insulation properties with the ability to use recycled materials in rubber based products is expected to drive the market growth.
Global Impact Sound Insulation Acoustic Mat Market, by Application
Based on the application, the global impact sound insulation acoustic mat market is segmented into residential, commercial, and industrial. Among these, the residential application is estimated to witness the fastest growth during the forecast period owing to the development in the real estate sector across the world.
The ongoing real estate projects along with the lower interest rate loans as well as easy loan procedures are increasing the sale of newly built properties in developing economies. Apart from this, the development of the green housing building, as well as the certification for the usage of acoustic insulation products in buildings, will also drive the market.
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Global Impact Sound Insulation Acoustic Mat Market, by Region
Based on region, the global impact sound insulation acoustic mat market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa and South America. Among these, Asia Pacific region is witnessing the fastest growth owing to increasing investment in the construction sector along with the rise in the demand for high-end residential buildings, which is anticipated to generate huge revenue and drive regional market growth.
Some Key Developments Offered in the Global Impact Sound Insulation Acoustic Mat Market Report:
Impact of COVID 19 On Global Impact Sound Insulation Acoustic Mat Market
The COVID 19 pandemic has severely impacted the impact sound insulation acoustic mat market as the construction projects were halted due to unavailability of labor. This has resulted into the downfalls of the market creating an imbalance. Due to the worldwide lockdown, the demand for various consumer-oriented goods have decreased, and production unit have become sore which has resulted into the negative growth of the impact sound insulation acoustic mat market.
Some Major Findings of the Impact Sound Insulation Acoustic Mat Market Report Include:
Browse key industry insights from the report, Global Impact Sound Insulation Acoustic Mat Market, by Material (Rubber, Foam, Cork), Applications (Residential, Commercial, Industrial), Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) — Global Market Size, Share, Trends & Forecasting to 2030”, in-depth analysis along with the table of contents (ToC).
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