Architectural Acoustic Panels Market Research, 2031
The Global Architectural Acoustic Panels Market Size was valued at $7.3 billion in 2021, and is projected to reach $13.8 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.
Architectural acoustic panel is a sound-absorbing panel employed to mitigate background noise and reduce reverberation and echo in every space. This panel is a sound-absorbing panel used to mitigate noise and reduce reverberation and echo in large spaces. It is the science and engineering of achieving good sound within a building.
Architectural acoustic panel market focuses on reducing noise in lobbies & rooms, concert halls, movie theatres, auditoriums, and music studios, which are major consumers of acoustic panels in the world. These panels effectively regulate the reverberation effects to reinforce the overall hearing experience of the occupants. They can be trained to pick up specific frequencies and are adaptive, which results in a tremendous musical experience. The adoption of plastic acoustic panels is anticipated to increase rapidly as most of these products are now being developed as sustainable solutions.
Rise in construction activities across various regions such as Europe & Asia-Pacific and increase in demand for high appealing designs for buildings are expected to fuel the global architectural acoustic panels market growth. In addition, the residential construction expenditure of China is expected to increase every year till 2030. Rise in disposable income of population and change in standard of living drive the adoption of architectural acoustic panels in residential properties, thereby driving the growth of the market.
Increase in urbanization and industrialization in emerging countries such as Germany, France, and the U.S., further propels the growth of the architectural acoustic panels market globally. In addition, rise in construction of commercial and industrial buildings is expected to boost the growth of the market in France. The commercial construction industry in France is expected to reach $227.7 billion by 2024, with a CAGR of 3.8%. These scenarios are expected to boost the architectural acoustic panels market opportunities.
Major players have adopted various strategies such as product launches and acquisitions to sustain their competition and improve their product portfolios. For instance, in August 2021, Owens Corning introduced its latest advancement, pink next-gen fiberglass insulation. Featuring advanced fiber technology, this superior insulation solution enables up to 23% faster installation compared to existing products.
The market is segmented on the basis of material, type, end user, and region. On the basis of material, the market is divided into plastic panels and non-plastic panels. On the basis of type, the market is divided into horizontal acoustic panels and vertical acoustic panels. On the basis of end-user, the market is segmented into commercial, residential, and industrial. Region-wise, the global market analysis is conducted across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of material, the non-plastic panels segment generated the highest revenue in 2021, because it is utilized in the building and construction sector for its thermal proficiency, durability, lightweight, shock absorption, moisture resistance, and serviceableness, which is growing its adoption for construction applications is expected to boost the architectural acoustic panels market growth.
On the basis of region, Europe registered the highest market share of global architectural acoustic panels market share in 2021, owing to surge in number of infrastructure development and new construction activities, thus creating numerous opportunities for architectural acoustic panels for commercial buildings such as educational institutes, malls, and office buildings.
By end user, the commercial segment accounted for the highest revenue in the global market in 2021, owing to rise in construction of new commercial buildings and non-residential projects in emerging economies, which provide a promising opportunity for the growth of the architectural acoustic panels market.
The novel coronavirus (COVID-19) rapidly spread across various countries and regions in 2019, causing an enormous impact on lives of people and the overall community. It began as a human health condition and has now become a significant threat to global trade, economy, and finance. The COVID-19 pandemic halted production of many products in architectural acoustic panels market, owing to lockdowns. Furthermore, the number of COVID-19 cases is expected to reduce in the future with the introduction of the vaccine for COVID-19 in the market. This has led to the reopening of architectural acoustic panels companies at their full-scale capacities. This is expected to help the market recover by the end of 2022. After COVID-19 infection cases begin to decline, equipment & machinery producers must focus on protecting their staff, operations, and supply networks to respond to urgent emergencies and establish new methods of working.
COMPETITION ANALYSIS
The key players that operate in the architectural acoustic panels market are 3A Composites, Arcelor Mittal Construction, Arconic, Armacell GmbH, BASF SE, Fischer Profil GmbH, Fletcher Building Ltd., Ingreen Systems, ItalPannelli, Johns Manville, Kingspan Group, Knauf Insulation, Owens Corning, Paroc Group OY, Rockwool International A/S, Saint Gobain SA, and Trelleborg AB.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging global architectural acoustic panels market trends and dynamics.
- In-depth global architectural acoustic panels market analysis is conducted by constructing market estimations for key market segments between 2022 and 2031.
- Extensive analysis of architectural acoustic panels market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- Architectural acoustic panels market forecast analysis from 2022 to 2031 is included in the report.
- The key players with in architectural acoustic panels market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of architectural acoustic panels industry.
Architectural Acoustic Panels Market Report Highlights
| Aspects | Details |
 By Material |
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 By Type |
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 By End-users |
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 By Region |
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 Key Market Players | Knauf Insulation, Paroc Group OY, 3A COMPOSITES, Arcelor Mittal, Ingreen Systems, Owens Corning, johns manville, Trelleborg AB, Fischer Profil GmbH, Fletcher Building Ltd, Rockwool International A/S, Saint Gobain SA, Arconic Inc., BASF SE, Armacell GmbH, italpannelli srl, KINGSPAN GROUP PLC |
Analyst Review
The architectural acoustic panels market has observed huge demand in North America, Asia-Pacific, and Europe. Europe is projected to register significant growth in near future due to surge in infrastructure development and new construction activities, thus creating numerous opportunities for architectural acoustic panels for commercial buildings such as educational institutes, malls, and office buildings. The commercial segment accounted for the majority of the market share in 2021, owing to rise in construction of new commercial buildings and non-residential projects in emerging economies, which provide a promising opportunity for the growth of the architectural acoustic panels market.
Various market players have adopted strategies such as product launches, business expansion, acquisitions, and agreements to expand their businesses and strengthen their market position. For instance, in January 2022, Knauf Insulation signed a contract to acquire a Glass Mineral Wool plant in Central Romania. The acquisition of the plant is expected to bring Knauf Insulation’s solutions closer to customers in the rapidly growing markets of Romania, Eastern Europe, and CIS. As a result, such strategic moves are expected to provide lucrative growth opportunities in the global architectural acoustic panels market.
Rise in construction activities across various regions such as Europe & Asia-Pacific and increase in demand for high appealing designs for buildings are the upcoming trends of Architectural Acoustic Panels Market in the world.
Non-plastic is the leading material of Architectural Acoustic Panels Market.
Europe is the largest regional market for Architectural Acoustic Panels.
The global architectural acoustic panels market size was valued at $7,320.0 million in 2021.
3A Composites, Arcelor Mittal Construction, Arconic, Armacell GmbH, BASF SE, Fischer Profil GmbH, Fletcher Building Ltd., Ingreen Systems, ItalPannelli, Johns Manville, Kingspan Group, Knauf Insulation, Owens Corning, Paroc Group OY, Rockwool International A/S, Saint Gobain SA, and Trelleborg AB are some of the top companies to hold the market share in Architectural Acoustic Panels.
The base year considered in the global Architectural Acoustic Panels market report is 2021.
The top 17 market players are selected based on two key attributes - competitive strength and market positioning.
The report contains an exclusive company profile section, where leading 17 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
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