Global Acoustic Materials Market to Reach USD 2.93 Bn by Late 2022, Says M&M in Its New Report Recently Published at MarketPublishers.com
16 Nov 2017 • by Natalie Aster
LONDON – Due to such growth driving factors as severe vehicle noise norms, surging demand for comfort and luxury, rising vehicle production and increased vehicle sales, amid others, the global market for acoustic materials is set to follow an upward trend by 2022.
The acoustic materials market value is poised to increase from USD 2.09 billion in 2017 to USD 2.93 billion by late 2022, registering a healthy CAGR of almost 7% during 2017-2022.
However, the market growth could be significantly hampered by fluctuating prices for raw materials, rising demand for natural acoustic materials, expanding installation of active noise control (ANC) systems and also issues associated with recycling.
On the basis of materials, the textiles segment is anticipated to see growth at the highest rate through 2022 due to a range of their advantages like better sound absorption, improved aesthetic features, reduced weight, to name a few. The growing demand for nonwoven textiles is also expected to give a boost to the overall market growth.
Regionally, Asia-Oceania still dominates the world’s market for acoustic materials. This regional market is likely to demonstrate the highest CAGR during 2017-2022, propelled by the boosting vehicle production, rising emergence of established OEMs, rising sales of premium vehicles, escalated disposable incomes, low production costs, amid others.
New research report publication by M&M, titled “Acoustic Materials Market by Type, Component, ICE & EV, and Region - Forecast to 2022”, is a unique source of relevant data on the current situation in the global acoustic materials market. The publication provides an overview of the market’s historical background, delves deep into the competitive landscape, provides 11 detailed profiles of the most prominent market participants. It also examines the future prospects, current and forthcoming trends and emerging opportunities of the acoustic materials market. Besides, future forecasts for the market up till 2022 are available here, as well. Moreover, the study highlights the market dynamics, analyzing the key market growth drivers, and hinders. The market segmentation, in terms of material types, applications, regions, vehicle types and electric vehicle types, is also examined in the report. The recent partnerships, agreements and collaborations, M&A and expansions within the market are also observed here.
Many other research reports prepared by M&M are available in its online catalogue at MarketPublishers.com.