Fiberglass Acoustic Insulation Demand to Grow 4.2% Annually
CLEVELAND, June 11, 2019 /PRNewswire/ — Global demand for fiberglass acoustic insulation is expected to grow 4.2% per year through 2023 to $3.0 billion. Fiberglass accounted for the second largest share of acoustic insulation value demand in 2018. While fiberglass is employed in construction and industrial applications throughout the world, it is most popular in North America, especially in the US, which is the largest market for the material. These and other trends are covered in the new study Global Acoustic Insulation.
More information about the study is here: https://www.freedoniagroup.com/industry-study/global-acoustic-insulation-3708.htm
Advances will be driven by:
- fiberglass’ low cost relative to foamed plastic on a per kilogram basis
- high levels of nonresidential construction activity in the Asia/Pacific region, as fiberglass sees widespread use in offices and institutional buildings for acoustical purposes
- global increases in housing starts, as the material is most commonly used in the expanding market for residential acoustic insulation
- rising dishwasher production throughout the world, as fiberglass is often installed to reduce the noise produced by these appliances
- installation advantages over other insulation materials
Considering all types of acoustic insulation, Freedonia forecasts demand growth at 4.9% per year to reach $11.4 billion in 2023. Despite the popularity of fiberglass in North America and of mineral wool in Eastern Europe, foamed plastic is projected to account for the majority of value gains globally through 2023. Foamed plastic is the most used insulation material in the Asia/Pacific region which will strengthen the material’s leading position.
Global Acoustic Insulation (published 05/2019, 358 pages) is available for $5900 from The Freedonia Group. Please link citations to https://www.freedoniagroup.com/industry-study/global-acoustic-insulation-3708.htm
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. The Construction & Building Products studies page is here: https://www.freedoniagroup.com/industry-category/build/construction-building-products.htm.
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SOURCE The Freedonia Group