Acoustic insulation materials are used to reduce intensity of sound emitted. For instance, building are acoustic insulated to prevent the people inside from the sound of vehicle outside. Acoustic insulation material is used almost in every industry in order to decrease the sound level of machines and save workers from any health issue due to large noise. Acoustic insulation materials are primarily used in construction industry.
Acoustic Insulation Material Market: Drivers & Restraints
Construction sector output, manufacturing industry output, construction industry spending and urbanization trend are some of the macro-economic drivers of the acoustic insulation material market. Developed economies such as North America and Europe have formulated regulations concerning energy efficiency buildings: according to Concerted Action Energy Performance of Buildings (a joint initiative program of member states of European Union and European Commission) approximately all new buildings constructed in the member states by 2020 should comply with zero –energy standards. Even emerging countries government are actively promoting the use of insulation material: in 2014, Andhra Pradesh (India), adopted Energy Conservation Building Code (ECBC) under which commercial and public buildings in the state are expected to cut costs and slash energy usage by 40%-60% through the use of green building materials. Such regulations and initiatives are identified as underlying driving factors of the market. However there are few challenges acoustic insulation material market is facing: low awareness of acoustic insulation material in emerging economies and high capital cost of acoustic insulation in building.