The global textile acoustic panel market size is anticipated to witness exemplary growth in the forthcoming years. Acoustic panels are widely utilized in restaurants, offices, wedding halls, nightclubs, cinemas, theatres, etc., for absorbing noise frequencies. Therefore, the spiraling demand for textile acoustic panels in the non-residential sector is anticipated to be a major growth propellant. Fortune Business Insights™ has presented this information in an upcoming report titled, “Textile Acoustic Panel Market, 2021-2028”.

As per the report, the textile acoustic panel market is gaining extreme popularity due to several reasons. For instance, these acoustic panels are utilized for sound-proofing purposes in the automotive industry. Luxury cars utilize these panels to reduce noise from the vehicle’s exterior and dampen the tire noise. Strong demand from premium car manufacturers is anticipated to foster market growth.

 

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COVID-19 Impact-

The market has experienced a negative impact of the global pandemic. The production levels have diminished due to the reduced available workforce. The disruptions in global supply chain networks have hindered the procurement of raw materials used to manufacture the product. The logistical operations have also been impacted due to the stringent lockdown and curfews implemented by the governments of several nations. The decline in construction activities has affected the product demand and stagnated the market growth. However, many economies are gradually uplifting their lockdowns, and the market is expected to witness a speedy recovery in the forthcoming years.

 

Segmentation-

On the basis of product type, the market bifurcates into synthetic and natural. On the basis of application, the market trifurcates into commercial, non-residential, and residential. Geographically, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

 

Report Coverage-

  • The report follows top-down and bottom-up approaches to market research.
  • The report provides a detailed qualitative and quantitative assessment of the prospected market.
  • The report envisages Porters’ Five Forces Analysis for an infallible prediction.
  • The report highlights key trends in the market.
  • The report highlights new product launches, new advancements in production technologies, etc.

 

Drivers & Restraints-

High Product Demand from Non-Residential Construction Activities to Surge Market Growth

The increasing urbanization drives construction activities around the globe. The high product demand from non-residential construction applications like libraries, auditoriums, convention centers, etc., is likely to bolster the global textile acoustic panel market growth.

The increasing demand for architectural acoustics in nightclubs, hotels, malls, restaurants, offices, etc., is expected to create lucrative growth opportunities for the market. The

Additionally, increasing consumer awareness regarding aesthetic sound-proofing solutions is anticipated to surge product demand for application in the residential sector.

However, the high capital investments required initially to determine proper recycling and disposal are likely to hinder the market growth.

 

Regional Insights-

 Rapid Industrialization & Urbanization to Aid Market in Asia Pacific

Asia Pacific is likely to emerge dominant in the global textile acoustic panel market share. The growth is attributable to increasing construction activities across residential, non-residential, and commercial sectors. Furthermore, with spiraling industrialization, urbanization, and increasing foreign direct investments, in emerging countries like India, China, Japan, South Korea, etc., the market is anticipated to witness immense growth in the forthcoming years.

Increasing consumer awareness regarding aesthetic sound-proofing solutions and high disposable income are anticipated to help North America witness rapid growth. Additionally, the increasing emphasis on the development and sales of acoustic panels is expected to complement market growth.

The spiraling demand for cinemas and halls due to altering lifestyle choices amongst the population is likely to help Europe occupy a large market share.

The Middle East & Africa is likely to witness sluggish growth due to stringent government regulations.

Latin America is anticipated to witness comparatively slow growth due to the lack of manufacturers of textile acoustic panels.

 

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Competitive Landscape-

Key Players Launch New Products to Diversify Product Portfolio

The fairly fragmented global market of the textile acoustic panel includes some key players operating at regional and global levels. The key players focus on improving their operational and functional structures to cope with the negative impact inflicted by the pandemic. The key players focus on inorganic strategies like partnerships, collaborations, mergers & acquisitions, etc., to strengthen their market position. The key players emphasize on new product launches, technological advancements, etc., to diversify their product offerings. For instance, 3form launched new translucent textile-based panels called Horizon in June 2021. The beautifully designed panels are designed to enhance the ambiance of office and corporate spaces, amongst other applications.

 

Key Players in the Global Textile Acoustic Panel Market are:

  • Saint-Gobain Ecophon
  • Knauf Insulation
  • Abstracta
  • STAR – USG
  • Buildx Interior Product Private Limited
  • USG BORAL
  • Guangdong Liyin Acoustics Technology Co. Ltd.
  • Hebei Borunde Building Materials Co. Ltd.
  • G&S Acoustics

 

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