Acoustic Panel Market Size - By Product (Wooden acoustic panel, Mineral wool acoustic panel, Fabric acoustic panel, Polyester acoustic panel), By Application (Construction, Industrial, Transportation), & Forecast, 2024 – 2032

Acoustic Panel Market Size

Acoustic Panel Market was valued at USD 12.4 billion in 2023 and is anticipated to register a CAGR of 6.4% between 2024 and 2032, driven by increasing awareness of noise pollution and the importance of sound management in various settings. Factors such as urbanization, stricter building regulations, and a growing focus on creating comfortable living and working environments have contributed to the rising demand for acoustic solutions. Industries such as construction, architecture, and interior design are increasingly incorporating acoustic panels into their projects to enhance sound quality and reduce noise levels.
 

Furthermore, this growth is fueled by technological advancements in materials and manufacturing processes, leading to more efficient and aesthetically pleasing acoustic panel designs. Additionally, the expanding commercial sector, including offices, educational institutions, and healthcare facilities, is likely to be a key driver for market expansion as these spaces prioritize noise reduction and improved acoustics for better productivity and well-being.
 

One of the challenges in the market is the high initial cost of quality acoustic panels, which can deter some potential customers, especially in price-sensitive markets or smaller businesses. This cost factor often leads to a preference for cheaper alternatives that may not provide the same level of acoustic performance, potentially slowing market penetration in certain sectors.
 

Another challenge is the lack of standardization and awareness about acoustic performance metrics. Many end-users are not fully informed about the technical aspects of sound absorption and insulation, making it difficult for them to make informed decisions when selecting acoustic panels.
 

Acoustic Panel Market Trends

One prominent trend is the One prominent trend is the increasing focus on aesthetics alongside functionality. Manufacturers are developing acoustic panels that not only provide excellent sound absorption but also serve as decorative elements, with customizable designs, colors, and shapes to complement various interior styles. This trend is particularly evident in open-plan offices, restaurants, and public spaces where acoustic panels are being integrated as part of the overall design scheme.
 

Acoustic Panel Market Analysis

Based on product, the mineral wool acoustic panel was worth over USD 4.8 billion in 2023 and is expected to reach USD 8.6 billion by 2032. Mineral wool, known for its excellent sound absorption properties and fire resistance, has become increasingly popular in construction and renovation projects across residential, commercial, and industrial sectors. The growing awareness of noise pollution's negative impacts on health and productivity has led to stricter building codes and regulations in many regions, further boosting the demand for effective acoustic solutions like mineral wool panels.
 

Based on application, the construction segment accounted for over USD 5.6 billion in 2023 and is likely to exceed USD 9.8 billion by 2032. As building designs trend towards open spaces and modern aesthetics with hard surfaces, the need for effective sound management has become crucial. Acoustic panels are increasingly being integrated into various construction projects, from commercial offices and educational institutions to residential buildings and public spaces, to address noise issues and improve overall acoustic comfort.
 

Asia Pacific acoustic panel market size surpassed USD 4.1 billion in 2023 and is predicted to hit USD 5 billion by 2032, driven by rapid urbanization, increasing construction activities, and growing awareness of the importance of sound management. Countries like China, Japan, India, and South Korea are experiencing a surge in demand for acoustic solutions across various sectors, including commercial real estate, residential buildings, and public infrastructure projects. The region's booming economies and rising middle class have led to an increased focus on quality-of-life issues, including noise reduction in living and working spaces.
 

Furthermore, the adoption of stringent building codes and regulations regarding noise control in many Asia Pacific countries has accelerated the integration of acoustic panels in construction projects, thereby propelling the market.
 

Country-level Analysis

North America: The U.S. dominated the North America market with revenue of around USD 2.3 billion in 2023 and with a CAGR of 5.9% during 2024 to 2032. The trend towards open-plan offices and collaborative spaces has created a significant need for effective sound management solutions, pushing companies to invest in high-quality acoustic panels. Additionally, the expansion of sectors such as healthcare, education, and hospitality has further fueled demand, as these industries prioritize creating comfortable and functional environments for their occupants.
 

Europe: Germany led the Europe market with revenue of around USD 568 million in 2023 and is growing at a CAGR of 6.7% up to 2032. Germany's strong focus on engineering excellence and high-quality manufacturing has translated into a demand for superior acoustic solutions across various sectors. The country's robust automotive, industrial, and commercial construction industries have been key drivers of this growth, as these sectors prioritize noise reduction and acoustic optimization in their facilities.
 

Asia Pacific: China spearheaded the Asia Pacific market with revenue of around USD 1.3 billion in 2023 and is growing at a CAGR of 7% from 2024 to 2032. China's focus on technological advancement and innovation has spurred the development of high-performance acoustic panels that cater to diverse needs. Local manufacturers are investing in research and development to produce cost-effective and efficient acoustic solutions, often incorporating sustainable materials to align with the country's growing environmental consciousness. The rise of the middle class and the increasing emphasis on workplace productivity have further boosted demand, particularly in the commercial sector.
 

Acoustic Panel Market Share

The global acoustic panel industry is fragmented, with prominent players, such as Saint-Gobain S.A. Armstrong World Industries, Inc. Knauf Insulation Beijing New Building Material (Group) Co., Ltd. (BNBM) USG Corporation holding a market share of 20-25%. These companies dominate the market due to their extensive research and development capabilities, strong global distribution networks, and strategic partnerships within the industry.
 

Acoustic Panel Market Companies

Major players operating in the acoustic panel industry include:

• Armstrong World Industries, Inc.
• BASF SE
• Beijing New Building Material (Group) Co., Ltd. (BNBM)
• CertainTeed
• Ecophon Group
• Hunter Douglas N.V.
• Kingspan Group
• Knauf Insulation
• Owens Corning
• Quietstone UK Ltd
• Rockwool International A/S
• Saint-Gobain S.A.
• Troldtekt A/S
• USG Corporation
• Vicoustic
   

Acoustic Panel Market News

• In July 2022, Armstrong World Industries announced the acquisition of Moz Designs, a designer and fabricator of custom architectural metal ceilings, walls, dividers, and column covers. This acquisition was aimed at expanding Armstrong's portfolio of architectural specialty solutions, including acoustic products.
   
• In March 2022, Rockwool launched a new range of acoustic ceiling panels called Rockfon Metal. These panels combine the sound absorption properties of stone wool with the aesthetics of metal, catering to the growing demand for both functional and visually appealing acoustic solutions in commercial spaces.
   
• In October 2022, Saint-Gobain announced the launch of a new range of acoustic ceiling solutions under their Ecophon brand. The new product line, called Ecophon Solo™ Textile, combines high sound absorption properties with a soft textile finish, offering both acoustic performance and aesthetic appeal. This launch was aimed at meeting the growing demand for flexible and design-oriented acoustic solutions in various commercial and public spaces.
   

This acoustic panel market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:

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Market, By Product

• Wooden acoustic panel
• Mineral wool acoustic panel
• Fabric acoustic panel
• Polyester acoustic panel

Market, By Application

• Construction
• Industrial
• Transportation

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Poland
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA