The acoustic insulation market of Asia Pacific is predicted to register the highest CAGR of 8.35% over the forecast period of 2020-2028. The growing construction industry and the increasing sale of electric vehicles are some of the major factors fueling the growth of the market in the region.
The Asia Pacific market, with regard to acoustic insulation, is surveyed through the countries of South Korea, Thailand, Japan, Australia & New Zealand, India, Indonesia, China, Vietnam, and the rest of Asia Pacific. Indonesia’s market for acoustic insulation is emerging due to the flourishing construction industry. Further, the government plans to turn the country into a global base for car manufacturing, and in the long term, into an independent car manufacturing country.
Thailand’s market is showing a positive growth trend due to the rise in the residential construction sector. Moreover, the emerging growth of EV in the country is augmenting market prospects. Vietnam is one of the fastest-growing market in the region due to the booming construction industry, which is expected to account for 30-35% of GDP by 2020. The availability of low cost and alternative production is also boosting the market. In addition, the expansion of well-known car assemblers like Mitsubishi, Toyota, and Mercedes-Benz is supported by the rapid improvement of expressway networks and deep-sea ports connecting industrial sectors driving the market. Australia and New Zealand’s market is witnessing a stable growth owing to the flourishing construction industry. Australian companies provide acoustic insulation solutions with added features. The various development projects of the aerospace industry are also driving the market. The emerging construction industry of Singapore and Malaysia is influencing the market positively.
BASF SE, Johns Manville Corporation, Lanxess AG, Cabot Corporation, Owens Corning, etc. are some of the well-established companies operating in the market.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments