Global Acoustic Panel Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Acoustic Panel Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Acoustic panel is used to reduce noise and control sound, so it is an important building material.

Market Overview:

The latest research study on the global Acoustic Panel market finds that the global Acoustic Panel market reached a value of USD 4307.53 million in 2022. It’s expected that the market will achieve USD 5841.08 million by 2028, exhibiting a CAGR of 5.21% during the forecast period.

Market Drivers & Growth Opportunities

The construction industry is an industry around the design, construction, decoration and management of buildings. With the rapid development of cities between countries, there are more requirements for building materials. The construction industry has developed wall panels that can fully absorb acoustic energy, and can also create smooth indoor space for construction projects. When it is necessary to absorb sounds of different frequencies, there are holes with different diameters on the panel, which can provide ideal reverberation effect for any room. Besides absorption, it can also provide effective diffusion for sounds of different frequencies according to their different lengths, widths and depths. Office Acoustic Panels can be applied to various offices. With the acceleration of urbanization, the demand for urbanized buildings and Office Acoustic Panels is also increasing, thus driving the development of Office Acoustic Panels industry.

Market Challenges & Risks

In order to curb the COVID-19 epidemic, most countries have introduced many policies, including border blockade and social distancing. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of manufacturing, affected by the supply of raw materials and labor shortages. For the Office Acoustic Panels industry, the blockade policy will affect the supply of raw materials and export trade of products. The social distancing policy may have a great impact on the production of products, especially for some factories, they will spend more money to maintain production during the epidemic, and factories may face the risk of closure in some areas. With the gradual control of the epidemic, some factories began to resume operation. However, while operating production, enterprises need to protect the life and health of employees, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after the production, and testing the body temperature of employees every day to ensure the health of employees. These measures will increase the production cost of enterprises and affect the development of enterprises. But in the long term, the COVID-19 outbreak may cause more factories to start using more automated production lines to avoid the pandemic's impact on the industry. In addition, the application of IoT technology may also bring more opportunities for industry participants.

Industry Trend Analysis

With the increasing consumer demand for modern home life and changes in consumer concepts, people have high expectations for acoustic panels, such as the application of environmentally friendly, heat-resistant and waterproof materials, the configuration of high-tech products, and fashionable design concepts, etc. It can be said that today's consumers' requirements for modern home furnishings have changed from being cheap and durable to the pursuit of green and healthy, and the pursuit of high-quality acoustic panel. The acoustic panel market will enter the era of high-quality competition.
Acoustic panel must not only be practical and beautiful, but more importantly, it must have a good brand image and connotation. The brand represents a kind of strength and a kind of consumer confidence. The brand acoustic panel will lead the mainstream consumption of the acoustic panel market. In order to comply with the new demands of consumers, many acoustic panel manufacturers have begun to pay more attention to the research and development and production of intelligent acoustic panels while playing the environmental protection brand. Many first-line brand acoustic panel manufacturers have joined the ranks of intelligent acoustic panel. A series of cutting-edge technologies have subsequently entered the high-end kitchens that are closely related to people's lives.
At the same time, in acoustic panel brand promotion activities, many acoustic panel merchants generally offered service and after-sales cards, while price wars have gradually faded. In today's increasingly fierce competition, in addition to brand and quality, product services have become one of the important factors influencing consumers' purchasing decisions. In order to meet the service needs of consumers, the acoustic panel industry is paying more and more attention to service and brand image, and major brands have introduced new concepts in service.

Region Overview:

From 2022-2027, Europe is estimated to witness robust growth prospects

Company Overview:

Saint-Gobain, USG Boral, Armstrong Ceiling Solutions were the top 3 players in the Acoustic Panel market in 2022, taking up a market share of 9.24% together.

Segmentation Overview:

Among different product types, Mineral Wool Acoustic Panels segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Auditorium/Theatre Halls segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Acoustic Panel market covered in Chapter 3:

Burgeree Acoustics Technology Materials
Sound Seal
Hebei Borunde Building Materials
ATS Acoustics
Armstrong Ceiling Solutions
Beiyang
Knauf Insulation
MBI Products Company
G&S Acoustics
Primacoustic
Auralex Acoustics
Saint-Gobain
Eckel Industries
USG Boral
Beijing New Building Material

In Chapter 4 and Chapter 14.2, on the basis of types, the Acoustic Panel market from 2018 to 2029 is primarily split into:

Mineral Wool Acoustic Panels
Fabric Acoustic Panels
Polyester Acoustic Panels
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Acoustic Panel market from 2018 to 2029 covers:

Education
Tech Companies (Open Office Environments with Co-working)
Hospitality
Auditorium/Theatre Halls
Healthcare

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)