Architectural Acoustic Panels Market Size, Share & COVID-19 Impact Analysis, By Product Type (Metal Acoustic Panels, Plastic Acoustic Panels, Wood Acoustic Panels, and Others), By Application (Residential, Commercial, and Industrial) and Regional Forecast, 2020-2027

The global architectural acoustic panels market size was USD 7,862.8 million in 2019 and is projected to reach USD 9,752.8 million by 2027, exhibiting a CAGR of 4.1% during the forecast period.

Architectural acoustic panels are widely used in commercial and industrial projects to regulate the noise generated from structures as well as achieve the desired acoustical needs. Concert halls, movie theatres, auditoriums, music studios, and others are the major consumers of acoustic panels in the world. These panels effectively regulate the reverberation effects to enhance the overall hearing experience of the occupants. These panels are customizable and can be used to absorb certain frequencies to achieve a profound musical experience.

Some of the world’s renowned concert halls equipped with acoustic panels include Philharmonie de Paris, France; Opera City Concert Hall, Tokyo; Musikverein, Vienna; Elbphilharmonie Hamburg, Germany; and others. Elbphilharmonie Hamburg is installed with more than 10,000 acoustic panels lining the walls, ceilings, and balustrades. It hosted its first concert in 2017. Besides, hotels, company offices, restaurants, educational institutions, and sports complexes are amongst the major consumers of acoustic panels.

Supply Chain Disruptions Caused by COVID-19 to Hold Down Market Growth

The outbreak of COVID-19 has hampered most of the commercial and day-to-day operations across the world. Disruptions in supply chains, shortage of labor, and low demand are some of the challenges faced by industries across the globe. Consequently, construction projects have been delayed or canceled, which has impeded the architectural acoustic panels market growth. However, with easing lockdown restrictions around the world, the industry is recovering gradually.

Many customers have seen the lockdown as an opportunity to renovate their commercial spaces, which has aided market recovery. Moreover, the work from home culture is likely to stay for a considerably long period of time, which is anticipated to boost the demand for acoustic panels in residential applications. Several tech giants such as Microsoft, Google, and Twitter have already announced their plans to introduce work from home as a permanent option for their employees. This move will emerge as an opportunity for architectural acoustic panel manufacturers to boost their sales to this working class as an effective way to isolate themselves from noises.

LATEST TRENDS

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Introduction of Sustainable Architectural Acoustic Panels to Lead Market Trends  

Acoustic panel manufacturers are leading the way toward sustainability by adopting recyclable and eco-friendly materials. For instance, in February 2019, Baux, one of the leading manufacturers of acoustic panels, unveiled sustainable acoustic panels made out of the chemical-free pulp sourced from sustainably harvested Swedish pine and fir trees. Moreover, these decorative panels have been tested and found to be effective in the soundproofing of various environments such as homes, restaurants, office spaces, classrooms, and more. Also, Audimute, one of the recognized players manufacturing “Green” acoustic products, launched its new products under the brand name of eco-C-tex. These products are made of recycled cotton and cellulose. They offer a better alternative to conventional fiberglass and synthetic acoustic foam panels. Moreover, the lightweight steel frame used in these panels is also 100% recyclable, making them a complete package of green acoustic solutions.

DRIVING FACTORS

Rising Demand from the Hospitality Industry to Propel Market Growth

Unpleasant sound patterns and noises create a negative effect on restaurant and hotel businesses. As a result, these businesses have been focusing on reducing noises in lobbies and rooms so that the hoteling experience is not affected. Guests prefer to not return to a hotel if their first stay is noisy and restless. The noisy rooms can take a heavy toll on these businesses, which has compelled hoteliers to adopt architectural acoustic panels. Improvements in the sound quality in convention halls and banquet rooms and the positioning of hotels as prime locations for facility rentals can enhance these businesses.

For example, Monteverde, a restaurant that opened in Chicago in 2015, tried out different ways to calibrate the sound, including upholstered banquette seating, heavy draperies, and others. However, the best solution that worked for the restaurant was the addition of sound-absorbing acoustical panels to the ceiling of the dining room. Significant reduction in sound echo has been witnessed and the restaurant’s business has increased rapidly. It has become a role model for other restaurants in Chicago.

RESTRAINING FACTORS

High Cost of Acoustic Panels to Confine Product Adoption

Architectural acoustic panels are expensive, which has been the main reason for their low adoption, and most commercial businesses do not find them profitable or affordable. Furthermore, many commercial businesses are unaware of the performance of these panels and the difference it can bring to their business. Low adoption of these panels can also be attributed to the fact that some clients avoid even trying these solutions, presuming them to be not cost-effective. The reasons behind the high cost of these panels are their heavy development costs, research expertise, customized solutions, and also the need to design them in a visually appealing way. Thus, these factors greatly confine market growth, especially in developing countries.

SEGMENTATION

By Product Type Analysis

Wood Acoustic Panels Segment Dominates the Global Market

On the basis of product type, the market is segmented into metal acoustic panels, plastic acoustic panels, wood acoustic panels, and others. Wood acoustic panels are the first choice for most consumers owing to their high durability and exceptional performance. These panels are easy to customize as per application and customer needs. Concert halls and movie theatres are the prominent users of wooden acoustic panels as sound control is the key aspect in these places.

The adoption of plastic acoustic panels is expected to increase rapidly as most of these products are now being developed as sustainable solutions. Also, these panels are relatively cheap, which gives them an edge over other products.

Metal acoustic panels are used in rugged applications such as linear infrastructure projects, wastewater treatment plants, and industrial facilities. 

The others segment includes panels made of different materials such as composites, fabric wrapped panels, and mineral wool. This segment is expected to witness healthy growth over the forecast period due to ease of customization and a broad range of product choices.

By Application Analysis

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Commercial Segment Accounted for the Largest Market Share in 2019

On the basis of application, the market is segmented into residential, commercial, and industrial. The market is dominated by the commercial segment, which accounted for more than half of the global market value in 2019. Multinational offices, concert halls, restaurants, hotels, schools, auditoriums, and government offices are some of the commercial businesses that drive the demand for acoustic panels.

The industrial segment accounted for the second-largest share in the market. There has been a relatively higher adoption of acoustic panels in this segment in developed nations as compared to emerging economies.

The residential segment is expected to witness steady growth owing to the rising home-office culture, especially in the developed economies of Europe and North America.

REGIONAL INSIGHTS

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Asia Pacific accounted for the largest the market shares in 2019, closely followed by Europe. Countries such as India, China, and ASEAN countries are witnessing rapid expansion of the construction industry. Foreign direct investment (FDI) has increasingly become the key underpinning factor in the region’s economic development. This has boosted the infrastructure industry as well as stoked the development of the tourism sector, which has, directly and indirectly, bolstered the consumption of these panels in the region.

Europe accounted for the second-largest share in the global market in 2019. The continent is home to numerous multinationals that have been actively using acoustic panels in their offices and other infrastructures to meet the stringent regulations and standards of living in the region. Western European countries dominated the demand in the region, driven by construction activities in Germany, France, the UK, Russia, and Italy.

North America follows Europe and accounts for the third-largest share. The resurgent construction industry in the U.S. is likely to aid the growth of acoustic panel businesses in the region. According to Construction Outlook 2030 by Oxford Economics, the US construction market is expected to grow faster than China over the next 15 years. This is anticipated to provide lucrative growth opportunities for the market players over the forecast period.

GCC countries dominate and drive the demand for these panels in the Middle East & Africa region. GCC countries are among the top tourist locations in the world. Thus, hotel and restaurant businesses in these countries contribute significantly to the consumption of acoustic panels.

Brazil and Argentina lead the South America market in terms of demand for acoustic panels. Developing countries such as Chile and Colombia are expected to provide healthy growth opportunities for these panels over the forecast period. However, political and economic instability hampers the growth of the market in the region.

KEY INDUSTRY PLAYERS

Leading Players to Focus on Developing Innovative Product Solutions

The architectural acoustic panels market is fairly fragmented due to the strong presence of global and regional players. The key players in the market are leading the progress towards sustainability and circular economy in the construction industry. As a result, there have been multiple companies coming up with sustainable acoustic panels in recent years. For instance, Baux launched its biodegradable acoustic panel in 2019. Similarly, Soundtect launched its ‘Freestyle’ range of acoustic panels in 2018, which contain up to 70% post-consumer recycled polyester.

LIST OF KEY COMPANIES PROFILED:

• STAR-USG (China)


• Beijing New Building Material (China)


• Armstrong (USA)


• Saint-Gobain (France)


• Knauf Insulation (USA)


• Jiangsu Burgeree New Technology Materials Co, LTD. (China)


• USG BORAL (Australia)


• Beiyang (China)


• Greener Acoustics (South Africa)


• Leeyin Acoustic Panel (China)


• Hunter Douglas (Netherlands)


• Hebei Bo Run-de (China)


• G&S Acoustics (USA)


• Abstracta (Sweden)


• Vicoustic (Portugal)

KEY INDUSTRY DEVELOPMENTS:

• September 2020: Saint-Gobain announced the successful acquisition of Strikolith in the Netherlands, a company involved in the business of external insulation systems, interior finishing, and renovation products and solutions. Strikolith registered sales of around €20 million in 2019.


• September 2019: Knauf Insulation announced its plans to install a glass mineral wool insulation site in Malaysia. This would create an annual capacity of 75,000 tonnes and provide energy-saving solutions for countries across the Asia Pacific region. The facility is expected to be operational in 2020.

REPORT COVERAGE

An Infographic Representation of Architectural Acoustic Panels Market

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The architectural acoustic panels market research report provides both qualitative & quantitative insights on this market. Quantitative insights include the global market sizing in terms of value (USD Million) across regions, types, and applications profiled in the scope of the study. Also, the report covers market share analysis and growth rates of segments, sub-segments, and key countries across each region. Qualitative insights cover an elaborative analysis of market drivers, restraints, growth opportunities, and key trends related to the market. The competitive landscape section covers the detailed profiling of the key players operating in the industry.

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