DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Worldwide Acoustic Foam Insulation market - Drivers, Opportunities, Trends & Forecasts up to 2022" report to their offering.
Global Acoustic Foam Insulation market is expected to grow at a CAGR of 5.9% during the forecast period to reach $7.80 billion by 2022.
Industrial applications segment is expected to maintain global dominance in application segments, whereas China and India driven Asia Pacific region is expected to increase its regional share in global acoustic foam insulation.
The demand for acoustic foam insulation is growing consistently, especially in European and Asia Pacific markets. This growth is supported by increasing transportation and building & construction sectors respectively. Currently, Europe is the global leader in the acoustic foam insulation market with Germany being center for premium transportation market.
Premium transportation coupled with high standard of living and stringent regulations, Europe accounts for maximum contribution to the global acoustic foam insulation market. Asia Pacific is expected to grow with the fastest growth rate during the forecast period due to growing industrial penetration and increasing per capita income in developing countries.
Some of the key players in acoustic foam insulation are BASF, Techlite, PolyOne Corporation, and Dow Chemicals.
- Stringent government regulations for noise control in the developed countries
- Increasing penetration in developing countries
- Low penetration in underdeveloped countries
- Slow economic growth in developed countries
- Large untapped market in developing and underdeveloped countries
- Development of green building products
DRO - Impact Analysis
- 3M Company
- Acoustical Surfaces.Inc
- BASF SE
- Bechtel Corporation
- Boeing Corporation
- Dow Chemical Company
- Fiat Chrysler Automobiles N.V
- General Electric Company
- Huntsman Corporation
- PolyOne Corporation
- Siemens AG
For more information about this report visit http://www.researchandmarkets.com/research/2bddmt/worldwide