Architectural Acoustic Panels Global Market Opportunities and Strategies to 2033

This report describes and explains the architectural acoustic panels market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global architectural acoustic panels market reached a value of nearly $9.7 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.5% since 2018. The market is expected to grow from $9.7 billion in 2023 to $12.2 billion in 2028 at a rate of 4.7%. The market is then expected to grow at a CAGR of 6% from 2028 and reach $16.3 billion in 2033.

Growth in the historic period resulted from the increased investments in infrastructure projects, rapid urbanization and rise in disposable income. Factors that negatively affected growth in the historic period was limited awareness about the benefits and applications of acoustic panels.

Going forward, growth in residential and commercial construction activities, rapid growth in renovation and remodeling projects, strong economic growth in emerging markets and growing awareness about noise pollution and its adverse effects will drive the growth. Factor that could hinder the growth of the architectural acoustic panels market in the future include high initial cost of acoustic panel installation.

The architectural acoustic panels market is segmented by type into horizontal acoustic panel and vertical acoustic panel. The horizontal acoustic panel market was the largest segment of the architectural acoustic panels market segmented by type, accounting for 59.6% or $5.8 billion of the total in 2023. Going forward, the vertical acoustic panel segment is expected to be the fastest growing segment in the architectural acoustic panels market segmented by type, at a CAGR of 4.8% during 2023-2028.

The architectural acoustic panels market is segmented by sales channel into direct channel and indirect channel. The indirect channel market was the largest segment of the architectural acoustic panels market segmented by sales channel, accounting for 70.4% or $6.8 billion of the total in 2023. Going forward, the indirect channel segment is expected to be the fastest growing segment in the architectural acoustic panels market segmented by sales channel, at a CAGR of 4.7% during 2023-2028.

The architectural acoustic panels market is segmented by product type into metal acoustic panels, plastic acoustic panels, wood acoustic panels and other product types. The wood acoustic panels market was the largest segment of the architectural acoustic panels market segmented by product type, accounting for 34.8% or $3.4 billion of the total in 2023. Going forward, the plastic acoustic panels segment is expected to be the fastest growing segment in the architectural acoustic panels market segmented by product type, at a CAGR of 5.1% during 2023-2028.

The architectural acoustic panels market is segmented by end-users into commercial, residential and industrial. The commercial market was the largest segment of the architectural acoustic panels market segmented by end-users, accounting for 60.8% or $5.9 billion of the total in 2023. Going forward, the residential segment is expected to be the fastest growing segment in the architectural acoustic panels market segmented by end-users, at a CAGR of 4.9% during 2023-2028.

Asia Pacific was the largest region in the architectural acoustic panels market, accounting for 36.2% or $3.5 billion of the total in 2023. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the architectural acoustic panels market will be Asia Pacific and North America where growth will be at CAGRs of 5.4% and 4.7% respectively. These will be followed by South America and Western Europe where the markets are expected to grow at CAGRs of 4.6% and 4.1% respectively.

The global architectural acoustic panels market is fairly fragmented, with large number of small players operating in the market. The top ten competitors in the market made up to 22.66% of the total market in 2022. Kingspan Group Plc was the largest competitor with a 7.03% share of the market, followed by Saint-Gobain S.A. with 6%, Rockwool International A/S with 3.77%, Owens Corning with 1.99%, Armstrong World Industries with 1.30%, Paroc with 0.87%, Knauf Insulation with 0.70%, Trelleborg AB with 0.56%, Arconic with 0.27% and G&S Acoustics Inc. with 0.17%.

The top opportunities in the architectural acoustic panels market segmented by type will arise in the horizontal acoustic panel segment, which will gain $1.4 billion of global annual sales by 2028. The top opportunities in the architectural acoustic panels market segmented by sales channel will arise in the indirect channel segment, which will gain $1.7 billion of global annual sales by 2028. The top opportunities in the architectural acoustic panels market segmented by end-users will arise in the commercial segment, which will gain $1.5 billion of global annual sales by 2028. The top opportunities in the architectural acoustic panels market segmented by product type will arise in the wood acoustic panels segment, which will gain $824.6 million of global annual sales by 2028. The architectural acoustic panels market size will gain the most in China at $537.8 million.

Market-trend-based strategies for the architectural acoustic panels market include creation of 3D printed architectural and interior acoustic panels to enhance both the aesthetic and acoustic properties, focus on acoustic ceiling made from recycled PET product to provide sustainable solutions, development of new quilted acoustic designs for sound control, development of new quilted acoustic designs for sound control and strategic partnerships and collaborations among market players.

Player-adopted strategies in the architectural acoustic panels market include focus on expanding product portfolio and enhancing operational capabilities through strategic acquisitions, new product developments and strategic partnerships.

To take advantage of the opportunities, the analyst recommends the architectural acoustic panels companies to focus on 3D-printed architectural acoustic panels, focus on sustainable acoustic ceiling systems, focus on innovative quilted acoustic designs, focus on vertical acoustic panel segment, focus on plastic acoustic panels segment, expand in emerging markets, continue to focus on developed markets, focus on leverage strategic partnerships, focus on direct channel market growth, provide competitively priced offerings, continue to use B2B promotions, focus on digital marketing for enhanced visibility and focus on residential and commercial end-user segments.