Architectural Acoustic Panels Market to Hit USD 9,752.8 Million by 2027; Rising Demand for Efficient Soundproofing Solutions from the Hotel Industry…

Pune, India, Dec. 16, 2020 (GLOBE NEWSWIRE) -- The global architectural acoustic panels market size is projected to reach USD 9,752.8 million by 2027, exhibiting a CAGR of 4.1% during the forecast period. Development of acoustic panels made from eco-friendly and recycled organic waste will be a prime growth determinant for this market, states Fortune Business Insights in its report, titled Architectural Acoustic Panels Market Size, Share & COVID-19 Impact Analysis, By Product Type (Metal Acoustic Panels, Plastic Acoustic Panels, Wood Acoustic Panels and Others), By Application (Residential, Commercial and Industrial) and Regional Forecast, 2020-2027. The construction industry predominantly relies on synthetic and inorganic materials such as polystyrene and glass wool for thermal insulation and noise reduction. However, these materials are known to have significant environmental impacts and as a result, acoustic panel manufacturers are showing increasing interest in utilizing biodegradable materials for making soundproofing solutions. For example, Soundproof Cow has engineered the Quiet Batt 30 Soundproofing Insulation, which is made from 80% recycled cotton and is non-toxic as well as itch-free. Similarly, Audimute has developed its green sound absorption solution, the eco-C-tex, which has been produced from recycled cotton and cellulose. With regulatory bodies emphasizing on reducing pollution from buildings, the demand for green architectural acoustic panels is expected to rise in the coming years.

Get Sample PDF Brochure with Impact of COVID19:

https://www.fortunebusinessinsights.com/enquiry/covid19-impact/architectural-acoustic-panels-market-104454

According to the report, the global market value stood at USD 7,862.8 million in 2019. The top features of the report include:

List of theTop Companies Profiled in the Global Architectural Acoustic Panels Market are:

Restraining Factor

Subdued Construction Activities amid COVID-19 to Stifle Market Growth

A major challenge impeding the architectural acoustic panels market growth is the on-going and the steadily intensifying COVID-19 pandemic that has caused unprecedented damage to the global construction industry. A recent survey by the London-based Royal Institute of Chartered Surveyors (RICS) found that construction activity contracted across the globe in the second quarter of 2020. With 25% of projects coming to a standstill and on-site productivity falling by 12%, the escalating costs are anticipated to exert tremendous pressure on the construction industry over the next twelve months.

Inquire Before Buying This Research Report:

https://www.fortunebusinessinsights.com/enquiry/queries/architectural-acoustic-panels-market-104454

The adoption of architectural acoustic panels will be inevitably affected due to the sudden decline in constructions as these panels are widely utilized for noise control in this industry. Moreover, disrupted investment plans will further hamper the market as acoustic panels are expensive.

Regional Insights

Massive Investments in Infrastructure to Propel the Asia Pacific Market

Asia Pacific is expected to dominate the architectural acoustic panels market share during the forecast period on account of the massive public and private investment in infrastructure development in the region. The region is also witnessing a huge influx of foreign investments in the construction sector, which also favors the growth of the market. In 2019, the Asia Pacific market size stood at USD 3,533.4 million.

Europe is predicted to hold the second-largest position in the global market as a large number of multinational companies in the region are rapidly adoption architectural acoustic panels to comply with the green building regulations set by the European Union (EU). Robust growth of the construction industry in the US will accelerate the growth of the North America market in the forthcoming years.

Competitive Landscape

Apex Players to Implement Aggressive Expansion Strategies

With the intent to capture a larger market share, key players in this market are aggressively implementing strategies to entrench their position. Chief among these is the launch of sound-absorbing solutions made from sustainable materials as the emphasis on green buildings is rising worldwide. The other strategy adopted by the leading companies is the acquisition of regional players to deepen their presence in regional markets.

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/architectural-acoustic-panels-market-104454

Key Industry Developments:

Detailed Table of Content:

TOC Continued!

Speak to Our Expert:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/architectural-acoustic-panels-market-104454

Have a Look at Related Research Insights:

Acoustic Panel Market Size, Share & Industry Analysis, By Product type (Wooden Acoustic Panels, Mineral Wool Acoustic Panels, Fabric Acoustic Panels, Polyester Acoustic Panels Others), By Application (Construction, Industrial, Transportation, Other) and regional forecast 2020-2027

Acoustical Ceiling Market Size, Share & Industry Analysis, By Product type (Mineral fibre, Gypsum, Others), By Application (Non-Residential, Residential, Industrial) and Regional Forecast, 2020-2027

About Us:

Fortune Business Insightsoffers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email:sales@fortunebusinessinsights.com

Fortune Business Insights

LinkedIn | Twitter | Blogs

Read Press Release:

https://www.fortunebusinessinsights.com/press-release/global-architectural-acoustic-panels-market-10334

Continue reading here:
Architectural Acoustic Panels Market to Hit USD 9,752.8 Million by 2027; Rising Demand for Efficient Soundproofing Solutions from the Hotel Industry...