Wall Mounted Acoustic Panel Market 2022 (COVID-19 UPDATE) Future Challenges, Growth Statistics and Forecast to 2029
The global wall-mounted acoustic panel market size is expected to showcase considerable growth during the forecast period. The growth is attributable to the stringent government regulations to curb noise pollution and the growing demand for aesthetically appealing walls globally. This information is published by Fortune Business Insights.
The effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
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Wall-mounted acoustic panels generally aid in absorbing sound and reducing the number of sound waves across a room. Along with being sound-proof, these panels aid in bettering the quality of sound in a room. Owing to their sound-reducing properties, these panels are extensively used across commercial offices, restaurants, and residential complexes.
What does the Report Provide?
The global market for wall-mounted acoustic panel report provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth between 2020 and 2027.
Stringent Environmental Regulations to Accelerate Market Growth
To curb the pollution caused by the high decibel of noise, government agencies globally have imposed stringent regulations to reduce noise pollution. The stringent regulations drive the adoption of advanced wall-mounted acoustic panels by construction companies to reduce the outside noise. Moreover, the growing demand for aesthetically appealing ceilings globally is likely to boost the global wall-mounted acoustic panel market growth during the forecast period. The improved lifestyle and the availability of high disposable income are other factors that aid in the growth of the construction sector, further leading to the growth of the market during the forecast period.
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Asia-Pacific to Remain Dominant; Rapid-paced Industrialization to Stoke Demand
Among all the regions, Asia-Pacific is likely to remain at the forefront and hold the highest position in the global wall-mounted acoustic panel market in the forthcoming years. This is ascribable to factors such as the rapid-paced industrialization that is driving the adoption of advanced wall-mounted acoustic panel products in the region between 2020 and 2027.
The market in Europe is anticipated to experience substantial growth in the forthcoming years. This is attributable to the growing preference for aesthetically-looking ceilings that is likely to boost the demand for advanced wall-mounted acoustic panels for reducing noise pollution in the region.
Prominent Companies Focus on Product Innovations to Brighten Their Market Prospects
The global wall-mounted acoustic panel market is fragmented by the presence of major companies striving to maintain a stronghold by developing innovative wall-mounted acoustic panel products to cater to the rising demand from the construction sector. Additionally, other key players are adopting strategies such as merger and acquisition, facility expansion, and collaboration to maintain their presence that will bode well for the market growth during the forecast period.
- June 2020 – AntiCAD, a leading provider of wall-mounted acoustic panel solutions, announced the launch of a new Fabrix acoustic panel system. According to the company, Fabrix is primarily designed to adopt ceilings and walls across commercial and industrial. Additionally, the advanced wall-mounted acoustic panel system uses a mixture of concave and convex panels that emulate rolling waves design to reduce echo.
List of the Companies Operating in the Global Market for Wall Mounted Acoustic Panel:
- USG Corporation
- AWI Licensing Company
- Beijing New Building Material (Group) Co., Ltd.
- Saint Gobain
- Asona Ltd
- Knauf Insulation
- USG BORAL
- Guangdong Liyin Acoustics Technology Co., Ltd.
- G&S Acoustics.
- MBI Products Company, Inc.
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