In a new report authored by QY Research, the global Architectural Acoustic Panels Market is predicted to rise at a moderate CAGR of 4.9% during the forecast period 2018-2025. By the end of 2025, the global market is projected to increase its valuation to an over US$ 17.0 Bn from a more than US$ 11.95 Bn achieved in 2017. Titled “Global Architectural Acoustic Panels Sales Market Report 2018,” the report mentions that the total global consumption of architectural acoustic panels is expected to reach an over 436,000 K Sq.m by the end of 2024.
Global Architectural Acoustic Panels Market: Drivers
Rising awareness about the use of architectural acoustic panels is foreseen to help with the growth of the global market. The use of different materials in architectural acoustic panels is anticipated to attract a whole lot of demand from consumers. Furthermore, architectural acoustic panels are used in a wide range of settings, which increases their usage in various types of applications.
The growing use of decorative fabric wrapped custom acoustical wall panels in hotels, music rooms, meeting rooms, schools, offices, and other spaces where speech intelligibility and speech privacy are important is expected to augur well for the global architectural acoustic panels market.
Bonded acoustic cotton panels are another popular type of product that are largely used in multi-purpose rooms, churches, classrooms, cafeterias, and school gymnasiums. Some of these panels are also made from recycled cotton (green acoustical material), which make them ideal for use. Moreover, their relocatable, high performance, high light reflectance, low cost, easy to install, and lightweight properties are prognosticated to push their demand in the global architectural acoustic panels market.
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Global Architectural Acoustic Panels Market: Forecast by Product and Application
On the basis of product, the global architectural acoustic panels market is classified into porous material panel, resonators panel, and acoustic membranes. Among these, porous material panel is a major type of product offered in the global market. In 2017, it accounted for a significant sales share of the global market.
By application, the global market sees a classification into industrial buildings, commercial buildings, residential buildings, and others.
Global Architectural Acoustic Panels Market: Forecast by Region
The report includes a regional analysis on the global architectural acoustic panels market where key segments, viz. India, Southeast Asia, Japan, China, Europe, and the U.S. are studied.
The global market is anticipated to witness high concentration in Asia (Ex-China), Europe, and North America in terms of consumption. China is prophesied to move up the ladder as a major export market. In 2017, it secured a handsome consumption share of the global market, followed by Europe and North America.
Global Architectural Acoustic Panels Market: Key Players
There are several companies operating in the global architectural acoustic panels market. STAR-USG is envisaged to maintain its position as a market leader for the next few years. In 2017, it achieved impressive sales of architectural acoustic panels.
The report includes leading global manufacturers such as Leeyin Acoustic Panel, Forgreener Acoustic, Beiyang, USG BORAL, Burgeree, Knauf Insulation, Saint-Gobain, Armstrong, Beijing New Building Material, and STAR-USG.
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