Global Acoustic Damping Tiles Market 2019-2023 | Industry Analysis and Forecast | Technavio

January 9, 2019

LONDON--(BUSINESS WIRE)--Jan 9, 2019--The global acoustic damping tiles market research report by predicts the market to post a CAGR of close to 6% during the period 2019-2023.

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Technavio predicts the global acoustic damping tiles market to post a CAGR of close to 6% by 2023. (Graphic: Business Wire)

A key driver for the global acoustic damping tiles market is the rising demand for acoustic damping tiles in the aerospace industry. The increasing orders and backlogs in the commercial aircraft industry are anticipated to promote the demand for acoustic damping tiles. In 2017, Boeing delivered 763 commercial airplanes and had a backlog of 912 orders from 71 airline customers by the end of 2017. Likewise, Airbus also delivered 718 orders in 2017 and had a backlog of 1,109 orders by the end of 2017. With the increasing orders for new aircraft, the demand for acoustic damping tiles will increase driving market growth.

As per Technavio, the rapid growth of the online channel will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

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Global acoustic damping tiles market: Rapid growth of online channel

The increasing Internet penetration has been promoting the online sales of acoustic damping materials. E-commerce platforms offer a wide range of brands and provide the convenience of purchasing home insulation products online to the consumers. The use of the online channel also expands the presence of global brands in emerging countries such as India and China where awareness about acoustic insulation is less among residential end-users.

“A large number of vendors are offering acoustic insulation materials through online platforms because it provides vendors easy access to the market and decreases overheads by reducing the need for retail premises. It also provides customer intelligence that can be used while taking business decisions,” says a senior research analyst at Technavio.

Global acoustic damping tiles market: Segmentation analysis

This acoustic damping tiles market analysis report segments the market by end-users (construction, transportation, and industrial) and geography (the Americas, APAC, and EMEA).

The construction segment held the largest acoustic damping tiles market share in 2018, accounting for over 54% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.

The EMEA region led the market in 2018 with more than 35% of the market share, followed by the Americas and APAC respectively. The EMEA region is expected to dominate the market throughout the period 2019-2023.

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Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

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SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 01/09/2019 12:07 PM/DISC: 01/09/2019 12:07 PM


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