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Author : Allied Analysis | Published On : 18 Apr 2024
Rise in construction activities across various regions such as Europe & Asia-Pacific, surge in demand for innovative building designs, and increase in urbanization and industrialization in emerging economies are expected to drive the growth of the global architectural acoustic panels market. Closed manufacturing facilities, reduction in workforce, and other supply chain challenges during the COVID-19 pandemic had a negative impact on the growth of the market.
The global architectural acoustic panels market generated $7.3 billion in 2021, and is projected to reach $13.8 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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COVID-19 Scenario:
The COVID-19 pandemic had a negative impact on the growth of the global architectural acoustic panels market.
Owing to the stringent regulatory restrictions imposed by the governments of various countries around the world, there was a closure of various manufacturing facilities, which adversely impacted the growth of the market during the pandemic.
In addition, there was a shortage of workforce and raw materials due to ban on import and export of items, which further aggravated the impact on the market.
Furthermore, lockdowns resulted in delay or postponement of all sorts of construction activities which negatively impacted the growth of the market.
The report offers detailed segmentation of the global architectural acoustic panels market based on material, type, end-users, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest growing segments and highest revenue generation that is mentioned in the report.
Based on material, the non-plastic panels segment held the dominating market share in 2021, holding more than half of the global market, and is expected to maintain its leadership status during the forecast period. The plastic panels segment, on the other hand, is expected to cite the fastest CAGR of 6.6% during the forecast period.
Based on type, vertical acoustic panel segment held the largest market share in 2021, holding more than two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. The horizontal acoustic panel segment, on the other hand, is expected to cite the fastest CAGR of 6.5% during the forecast period.
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Based on end-user, the commercial segment held the largest market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The residential segment, on the other hand, is expected to cite the fastest CAGR of 7.0% during the forecast period.
Based on region, the market across Europe held the largest market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 8.1% during the forecast period.
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Top Players:
The key players analyzed in the global architectural acoustic panels market report include 3A Composites, Arcelor Mittal Construction, Arconic, Armacell GmbH, BASF SE, Fischer Profil GmbH, Fletcher Building Ltd., Ingreen Systems, ItalPannelli, Johns Manville, Kingspan Group, Knauf Insulation, Owens Corning, Paroc Group OY, Rockwool International A/S, Saint Gobain SA, and Trelleborg AB.
The report analyzes these key players in the global architectural acoustic panels market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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