Kenneth Research recently added a report on ‘Acoustic Sealant Market’ which offers a complete evaluation of the market and its growth prospects along with new business opportunities in the industry. The report contains the market size and annual growth rate for a forecast period between 2022 and 2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Acoustic Sealant Market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
The acoustic sealant is an elastic and durable sealant designed to reduce sound transmission in all types of wall systems. Acoustic sealants have the advanced properties of universal application to control moisture and water. The acoustic rated sealant is generally an acrylic-based material, and hence these are paintable as well. The acrylic material has intumescent qualities for fire protection, i.e., it can be widely used for fire-proofing and sound-proofing internal frames and sealing joints. In recent years, sealants have grown extraordinarily with the global sealants market attracting a significant share.
Research Methodology
The acoustic sealants market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:
Key Market Insights
Acoustic sealants have created a niche market in various applications. Unwanted and annoying noise can be a source of headache, stress, and damage to hearing. Also, it can create inefficiency in workers and chaos in the neighborhood. In automotive and transportation industries, excessive noise is the primary concern and it has both comfort & safety implications. Several types of acoustic sealants are available in the market, which includes a variety of materials such as silicones, rubber, polyurethanes, and epoxy resins.
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The extensive use of these sealants in construction and automotive sectors has given a massive boost to the acoustic sealant market in recent years. The rapid growth in economies across the globe and the increasing per capita income among consumers in developing countries are increasing the demand for automobiles. This, in turn, is increasing the demand for acoustic sealants on vehicles. The construction sector is presently leading the market and is expected to remain the same during the forecast years. Emerging economies such as China, India, and Brazil are looking forward to take advantage of the benefits of acoustic sealants. Further, the industrial and infrastructural market growth is expected to foster the acoustic sealants market.
North America is the largest acoustic sealants market globally due to the presence of export-oriented manufacturing capacities and intense domestic demand from various end-user industries. The increase in automobile manufacturing and building construction is further driving the market growth in the region. The anticipated economic stability in Europe is expected to boost its manufacturing sector, complementing the growth of the acoustic sealants market. North America is likely to remain as the key region with a significant contribution coming from the US. Few of the prominent companies operating in the acoustic sealants market are BASF SE, 3M, Dow Corning Corporation, General Electric, and Evonik Industries AG.
Types:
o Acrylic
o Silicone
o Polyurethane
o Others
End-users:
o Construction
o Automotive
o Electronic Equipment
o Others
Geography:
o Asia Pacific
o North America
o Europe
o Rest of the World
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