PUBLISHER: The Business Research Company | PRODUCT CODE: 1414016
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414016
“Architectural Acoustic Panels Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on architectural acoustic panels market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for architectural acoustic panels? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The architectural acoustic panels market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Architectural acoustic panels are specialized products engineered to enhance interior spaces' sound quality by diminishing noise, managing sound reflections, and refining speech clarity.
The primary types of these panels include horizontal and vertical variations. The horizontal panels are specifically crafted for installation on ceilings or high sections of walls. Additionally, these panels come in various materials such as metal, plastic, and wood, distributed through direct and distribution channels. These panels cater to a wide range of end-users, including commercial, residential, and industrial sectors.
The architectural acoustic panels market research report is one of a series of new reports from The Business Research Company that provides architectural acoustic panels market statistics, including architectural acoustic panels industry global market size, regional shares, competitors with a architectural acoustic panels market share, detailed architectural acoustic panels market segments, market trends and opportunities, and any further data you may need to thrive in the architectural acoustic panels industry. This architectural acoustic panels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The architectural acoustic panels market size has grown steadily in recent years. It will grow from $9.69 billion in 2023 to $10.1 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The expansion observed in the historical period can be credited to several factors including the adoption of precision agriculture, enhanced cost efficiency, the rise in global population, increased gains in efficiency and productivity, reduced environmental impact, and the clear demonstration of return on investment (ROI).
The architectural acoustic panels market size is expected to see steady growth in the next few years. It will grow to $12.11 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The anticipated growth in the forecast period is expected due to ongoing labor constraints, the influence of global climate change, initiatives promoting smart farming practices, increased adoption of specialty crops, concerns regarding global food security, and supportive government policies.
The surge in construction activities is poised to drive the expansion of the architectural acoustic panels market. This rise denotes an increase in building ventures and infrastructure development within specific regions or countries, often propelled by factors such as population growth, urbanization, and economic advancements. With heightened construction, there's an amplified demand for structures with superior acoustics. This necessity is particularly pronounced in densely populated urban locales grappling with substantial noise pollution. Notably, in 2021, the U.S. Census Bureau reported a significant increase in housing unit initiations, rising by 15.6% to 1,595,100 units from 1,379,600 in 2020 within the US. Hence, the escalation in construction undertakings is steering the growth of the architectural acoustic panels market.
The stringent implementation of noise regulations is anticipated to propel the expansion of the architectural acoustic panels market. These regulations, set forth by authorities, aim to govern and limit noise emissions from various sources to protect public health and the environment. Governments and regulatory bodies mandate adherence to noise level standards across diverse sectors, compelling architects and builders to integrate acoustic solutions such as noise control panels. For instance, in March 2021, the Occupational Safety and Health Administration in the US established the permissible exposure limit (PEL) for noise at an 8-hour TWA noise level of 90 dBA. These standards stipulate specific durations of exposure relative to noise levels, necessitating measures to curtail excessive noise. Therefore, the stringent enforcement of noise regulations is anticipated to drive growth in the architectural acoustic panels market.
Product innovation stands out as a significant trend gaining traction within the architectural acoustic panels market. Companies operating in this sector are prioritizing the development of novel products to fortify their market presence. For instance, in August 2021, Arup, a UK-based infrastructure provider, and Mogu, an Italian design firm, jointly launched FORESTA, the world's inaugural mycelium acoustic panel systems. This modular system integrates mycelium-based panels, living plants, and natural materials, creating a sustainable and biophilic wall system. FORESTA aims to enhance indoor air quality, acoustics, and aesthetics while reducing energy consumption and waste. The mycelium-based panels offer remarkable sound absorption, thermal insulation, and fire resistance, complemented by the air-purifying and calming attributes of living plants and natural materials.
Leading companies in the architectural acoustic panel's domain are introducing quilted acoustic panels as a strategic product innovation to gain a competitive edge. These panels are crafted utilizing a quilted or layered approach, often featuring an outer fabric layer and inner padding or insulation materials. For example, in June 2023, MIO Culture, a US-based furnishings design company, unveiled QuiltForms, a series of sustainable acoustic design products leveraging innovative acoustic material technology. The collection encompasses ceiling baffles, modular wall panels, and curtains, broadening MIO's array of acoustic solutions. Fabricated from an acoustic-grade quilted polyester material, QuiltForms products emphasize design flexibility and enhanced performance for architects and designers. These modular components offer customizable acoustic solutions, effortlessly connecting to ceiling tracks, grids, or walls.
In July 2023, Kingspan Group plc, an Irish building materials company, completed the acquisition of Troldtekt A/S for an undisclosed sum. This strategic move allows Kingspan, a global frontrunner in insulation and building solutions, to access a technology platform focused on natural materials. This acquisition aligns with Kingspan's ambitious sustainability goals and marks its entry into the market for natural solutions, particularly within insulation applications. Troldtekt A/S, based in Denmark, specializes in the production of sustainably crafted wood-based acoustic boards.
Major companies operating in the architectural acoustic panels market report are AWI Licensing LLC, BEIYANG Building Material Co. Ltd., G&S Acoustics Inc., Knauf Insulation Inc., Guangdong Liyin Acoustics Technology Co. Ltd., Star Brand Youshiji Building Materials Co. Ltd., Compagnie de Saint-Gobain S.A., Green Acoustics, Hebei Borunde Building Materials Co. Ltd., Hunter Douglas Group, Jiangsu Burgeree New Technology Materials Co. Ltd., Vicoustic, Badische Anilin- und Sodafabrik SE, Fischer Profil GmbH, ArcelorMittal S.A., 3A Composites, Arconic Corp., Armacell GmbH, Kingspan Group, Trelleborg AB, Fletcher Building Ltd., Owens Corning, Paroc Group OY, Rockwool International A/S, ItalPannelli S.R.L, Johns-Manville Corporation, Ingreen Systems Corp., Armstrong World Industries Inc., Abstracta Inc., MBI Products Company
Asia-Pacific was the largest region in the architectural acoustic panels market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global architectural acoustic panels market during the forecast period. The regions covered in the architectural acoustic panels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the architectural acoustic panels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The architectural acoustic panels market consists of sales of acoustic ceiling panels, diffusers, baffles and acoustic tiles. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.