April 22, 2024
Soundproof Sealing Strip Market

Soundproof Sealing Strip Market Is Estimated To Witness High Growth Owing To Rising Construction Activities

The soundproof sealing strip market involves high demand for sealing strips that are made up of special materials and designed to minimize noise transmission between adjoining structural elements like walls, floors, doors or windows. The soundproof sealing strips are elastic materials that can fill gaps and cracks effectively. They are compressible to conform to various structures tightly and their special composition acts as a barrier to passage of sound waves. Rising construction of commercial buildings, residential buildings and infrastructure has intensified the need for soundproofing in dividing elements within structures. This has propelled the growth of soundproof sealing strip market.

The Global soundproof sealing strip market is estimated to be valued at US$ 1160.53 Mn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the soundproof sealing strip market are PPG Industries, Inc., Axalta Coating Systems, LLC, BASF SE, Sherwin-Williams Company, Nippon Paint Holdings Co., Ltd., Kansai Paint Co., Ltd., Akzo Nobel N.V., 3M Company, KCC Corporation, Noroo Holdings Co., Ltd., Valspar Corporation, Jotun Group, Hempel A/S, Carpoly Chemical Group Co., Ltd., Guangdong Maydos Building Materials Limited Company.

The key opportunities in the market include rising demand for eco-friendly soundproof sealing strips and development of advanced acoustic insulation materials.

The soundproof sealing strip market is expanding globally owing to increasing construction activities in developing regions of Asia Pacific and Middle East & Africa. Several manufacturers are investing in these regions to tap the growth potential.

Market drivers

The major market driver is rapid urbanization leading to rise in construction of residential, commercial and infrastructure projects globally. As urban population is increasing, the demand for sophisticated construction with effective sound insulation is also growing significantly. This is propelling the sales of innovative soundproof sealing strips in the building and construction industry.

PEST Analysis

Political: The main political factors influencing the Soundproof Sealing Strip Market Growth include regulations and compliances regarding sound and noise levels. Governments are introducing stricter regulations in developed countries for noise levels in residential and commercial areas which is positively impacting the market growth.

Economic: The growth of construction industry and infrastructural developments are driving the demand for soundproof sealing strips in various end-use sectors like automotive, construction, manufacturing etc. Increasing disposable incomes of consumers are also fueling the market.

Social: Environmental concerns regarding noise pollution is a key social factor positively impacting the market. Adoption of soundproof sealing strips for decreasing noise pollution helps companies gain social acceptance. Growing urbanization is another social aspect propelling the demand.

Technological: Advancements in material science have resulted in development of acoustic sealing strips that are more effective in sound dampening. Automation in manufacturing processes has also improved productivity and cost-effectiveness of market players.

The geographical regions where the market is concentrated in terms of value include North America and Europe owing to strict noise regulations and high per capita incomes in countries like US, Germany, UK etc. Asia Pacific region is growing at a rapid pace and will emerge as the fastest growing market during the forecast period led by infrastructure growth in China and India. Rapid urbanization coupled with rising standards of living is driving the demand from the region.

The fastest growing regional market for soundproof sealing strips is expected to be Asia Pacific led by developing economies like China and India. Factors like increasing construction activities across residential and commercial sectors bolster market growth. Urban population is on the rise in Asia creating demand for sound insulation measures in buildings and infrastructure to curb noise pollution. Government initiatives towards smart city development plans also support market expansion across the region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it