February 25, 2024
Soundproof Sealing Strip Market

The Global Soundproof Sealing Strip Market Is Driven By Increasing Construction Activities

As construction activities continue to boom across both residential and commercial sectors, the demand for soundproof sealing strips has increased significantly. Soundproof sealing strips are sound insulation barriers that help reduce noise leakage between walls, floors, doors, windows or any area where thin shapes are required for noise control. They act as an acoustic sealant and offer effective soundproofing and acoustic insulation without comprising on aesthetics or design aspects. With rising urbanization and real estate development leading to cramped living spaces, effective soundproofing measures have become essential for privacy and concentration.

The global Soundproof Sealing Strip Market is estimated to be valued at US$ 1160.53 million in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the soundproof sealing strip market is the increasing preference for eco-friendly and sustainable products. With growing environmental awareness, consumers and builders are demanding green building materials that reduce noise pollution as well as carbon footprint. Leading manufacturers are developing and introducing soundproof sealing strips made from recycled rubber, cork and natural fibers which have minimal impact on the environment. Rapid urbanization and increased construction of commercial spaces like offices, colleges and hospitals have also fueled the demand for advanced acoustic sealing strips that provide high sound insulation. Technology advancements are enabling manufacturers to develop lightweight, durable and customizable designs catering to varied construction needs. Furthermore, the deployment of soundproof sealing strips in public infrastructure like airports, highways and underground metro stations is expected to open new growth avenues for market players over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants into the soundproof sealing strip market is moderate due to presence of established companies and high capital requirements. However, low differentiation among products provides opportunity for new players.

Bargaining power of buyers: The bargaining power of buyers is high due to availability of substitutes and undifferentiated products. Buyers can negotiate on price easily.

Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of substitute raw materials. However, stringent quality standards maintain supplier bargaining power at moderate level.

Threat of new substitutes: Threat of substitutes like acoustic panels, doors and windows is moderate as soundproof sealing strips have functional advantage of being easily installable.

Competitive rivalry: Competition in the market is high and vendors differentiate through innovation, price and quality.

Key Takeaways

The Global Soundproof Sealing Strip Market Outlook is expected to witness high growth over the forecast period. The global Soundproof Sealing Strip Market is estimated to be valued at US$ 1160.53 million in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031.

Regional analysis: Asia Pacific region dominates the global soundproof sealing strip market currently and is expected to maintain its dominance over the forecast period. High growth in automobile and construction industries is fueling demand in the region.

Key players: Key players operating in the soundproof sealing strip market are PPG Industries, Inc., and Axal. PPG Industries hold major market share and invests significantly in R&D to offer innovative, sustainable and durable solutions. Axal focuses on expanding its product portfolio through new product launches.

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