The Global Architectural Acoustic Panels Market Size Was Valued At USD 7.37 Billion In 2021. The Market Is Projected To Grow From USD 7.55 Billion In 2022 To USD 10.59 Billion By 2030, Exhibiting A CAGR Of 5.0% During The Forecast Period.

Architectural Acoustic Panels Market Overview:

The COVID-19 pandemic has been unprecedented and shocking, with demand across all regions being lower than expected compared to pre-pandemic levels. According to our data, the global market showed a 7.1% fall from 2019 to 2020.

Architectural acoustic panels are frequently used in commercial and industrial projects to control noise pollution caused by structures and to meet specific acoustical requirements. The world's largest users of acoustic panels are concert halls, theatres, auditoriums, music studios, and other spaces. These panels successfully control the reverberation effects to improve the occupants' overall hearing comfort. These panels can be adjusted to your preferences and can be used to absorb specific frequencies to produce a powerful musical experience.

The Philharmonie de Paris in Paris, France; the Opera City Music Hall in Tokyo; the Musikverein in Vienna; the Elbphilharmonie in Hamburg, Germany; and others are among the world-famous concert venues having acoustic panels. More than 10,000 acoustic panels have been put in Elbphilharmonie Hamburg to line the walls, ceilings, and balustrades. In 2017, it held its debut concert. Additionally, acoustic panels are often used in hotels, business offices, restaurants, educational institutions, and sports arenas.

Market Dynamics:

Latest Trends:

Sustainable Acoustic Panels are Being Introduced to Create Growth Opportunities

By using recyclable and environmentally friendly materials, producers of architectural acoustic panels are paving the road for sustainability. For instance, in February 2019, Baux, one of the top producers of acoustic panels, revealed environmentally friendly acoustic panels produced from chemical-free pulp obtained from Swedish pine and fir trees that were harvested ethically. Additionally, these decorative panels have been evaluated and proved to be efficient at soundproofing a variety of settings, including residences, dining establishments, offices, classrooms, and more. Troldtekt A/S intended to introduce panels with low carbon footprints in November 2021. The company's unique FUTURECEM greener cement is used to make these items. In comparison to conventional cement-based panels, the product provides a better alternative.

Driving Factors:

Rising Hospitality Industry Demand to Drive Market Growth

Restaurant and hotel businesses suffer when there are unpleasant sound patterns and sounds. In order to preserve the hotel experience, these businesses have been concentrating on lowering noise levels in lobbies and rooms. If a hotel is noisy and unsettling during their first stay, guests prefer not to return. These businesses can suffer greatly from noisy guests, which is why hoteliers have been forced to use these panels. These companies can be improved by upgrading the sound in convention centres and banquet halls and promoting hotels as prominent locations for facility rentals. For instance, the Caruso Acoustic sound-absorbing panels were put in the restaurant and office of the JHD Dunant Hotel in Italy in March 2022. A more aesthetically pleasing, upscale, and comfortable environment has been transformed as a result of the installation. Additionally, the Action on Hearing Loss Charity Reports and the Annual Zagat Survey both emphasise the main causes of excessive noises and their effects on the hospitality industries.

Restraining Factors:

High Acoustic Panel Prices Will Limit Product Adoption

The greatest barrier to widespread adoption of architectural acoustic panels has been their high cost, which prevents most commercial enterprises from finding them to be lucrative or reasonable. The effectiveness of these acoustic panels and the difference it may make to a corporation are also unknown to many commercial enterprises. Another reason for the low adoption of solar panels is that some clients refuse to even try them because they believe they won't be cost-effective. These panels' expensive development expenses, research knowledge, specialised solutions, and requirement for aesthetically pleasing design are the causes of their high price. Thus, especially in developing nations, these obstacles significantly restrain market expansion.

Segmentation Analysis:

By Product Type Analysis:

The market is divided into metal, plastic, wood acoustic panels, and other product types. The majority of buyers choose wood acoustic panels first due to their great performance and longevity. These panels are simple to modify to suit application and client requirements. Wooden acoustic panels are often used in concert halls and movie theatres, where sound control is important.

Since the majority of these items are now being developed as sustainable solutions, the usage of plastic acoustic panels is anticipated to grow quickly. These panels also have an advantage over competing items due to their affordable price.

Rugged applications include linear infrastructure projects, wastewater treatment facilities, and industrial facilities use metal acoustic panels.

Panels constructed of various materials, such as composites, fabric-wrapped panels, and mineral wool, are included in the other sector. Because of the simplicity of customization and the wide variety of available products, this market is anticipated to increase strongly throughout the projection period.

By Application Analysis:

The market is divided into three categories based on application: residential, commercial, and industrial. The commercial sector, which accounted for more than half of the market's global value in 2021, dominates the market. Businesses including multinational offices, performance venues, restaurants, hotels, schools, auditoriums, and government buildings are among those driving up demand for these panels in the marketplace.

The second-largest market share belonged to the industrial sector. Compared to emerging economies, established countries have used these panels in this segment more frequently. Due to the growing home-office culture, particularly in the advanced economies of Europe and North America, it is anticipated that the residential sector will continue to expand steadily.

Regional Insights:

Asia Pacific dominated the global market in 2021 with a USD 3.33 billion market size, closely followed by Europe The building sector is expanding quickly in ASEAN nations, China, and India. Foreign Direct Investment (FDI) is now more important than ever in supporting the region's economic growth. This has increased demand for these panels in the area both directly and indirectly by stimulating the infrastructure industry and the growth of the tourism industry.

In 2021, Europe had the second-largest proportion of the worldwide market. Numerous international corporations have offices throughout the continent, actively utilizing acoustic panels to fulfill the high standards of living and legislation in the area. Construction activity in Germany, France, the United Kingdom, Russia, and Italy dominated the region's demand, which was dominated by Western European nations.

Europe is followed by North America, which makes up the third-largest portion. The region's acoustic panel industries are set to expand thanks to the U.S. building industry's recovery. Over the next 15 years, the U.S. construction sector is anticipated to grow more quickly than China, according to Oxford Economics' Construction Outlook 2030. Over the foreseeable period, this is expected to offer market players lucrative growth prospects.

In the Middle East and Africa, GCC nations lead and drive the demand for these panels. The GCC nations rank among the world's most popular tourism destinations. As a result, the usage of these panels in these nations is substantially influenced by the hotel and restaurant industries. Demand for acoustic panels is highest in Brazil and Argentina in South America. Over the projected period, developing nations like Chile and Colombia are anticipated to provide these panels healthy growth potential. However, regional market expansion is hampered by political and economic unrest.

Scope Analysis

Recent Development:

• October 2021: Armstrong ceiling and wall solutions feature a textured 'New Tectum Create! Direct-attach panels that enhance the aesthetics of interior spaces by combining printed images with acoustic properties. These 0.85 NRC rated products are available in a variety of designs such as Textured Hex, Rustic Plank, Exposed Brick and Steady Wave.
• October 2021: Vicoustic upgraded its Multifuser DC2 product to Multifuser DC3. The new product comes with a built-in holder lip to fit into the company's VicFix retention system. This high-quality EPS-based panel offers enhanced sound quality with attractive aesthetics.

Market Segmentation

By Product Type:

• Metal Acoustic Panels
• Plastic Acoustic Panels
• Wood Acoustic Panels
• Others

By Application:

• Residential
• Commercial
• Industrial
• Others

By Companies:

• Saint-Gobain (France)
• Armstrong (U.S.)
• Knauf Insulation (U.S.)
• Beijing New Building Material (China)
• Jiangsu Burgeree New Technology Materials Co, LTD. (China)
• Beiyang (China)
• Greener Acoustics (South Africa)
• Leeyin Acoustic Panel (China)
• Hunter Douglas (Netherlands)
• Hebei Bo Run-de (China)
• G&S Acoustics (U.S.)
• Vicoustic (Portugal)
• STAR-USG (China)
• Others