July 25, 2024

Strong Growth Of Construction Industry To Boost The Growth Of Soundproof Sealing Strip Market

The Global Soundproof Sealing Strip Market is estimated to be valued at US$ 1,007.4 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Soundproof sealing strips are long tapes or strips made from noise insulating materials such as rubber, foam or plastic. They are used to fill and seal gaps or cracks around doors, windows or other openings to prevent the passage of air and sound between environments. Their noise reducing properties help in soundproofing of homes, offices and industrial areas against external sounds. Rapid growth of construction industry worldwide and rising consumer preferences for noise insulated homes and workspaces are driving the demand for soundproof sealing strips across residential and commercial applications.

Market key trends:
One of the key trends in the soundproof sealing strip market is the adoption of environmentally friendly materials. Conventional materials used in sealing strips such as PVC emit toxic fumes when burned and cause pollution. Leading manufacturers are focusing on developing bio-based and recyclable soundproof sealing strips made from natural and sustainable materials such as rubber, foam and cotton to meet stringent environmental standards. Another trend is the development of strips in unique shapes and sizes suitable for fitting complex door and window profiles. Customizable sealing strips help in achieving a perfect acoustic seal and further enhancing sound insulation properties.

Porter’s Analysis
Threat of new entrants: The established presence of key players poses tough challenge for new players due to high capital requirements and technology superiority of existing players.

Bargaining power of buyers: Buyers have high bargaining power due to availability of close substitutes.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative suppliers.

Threat of new substitutes:
Threat from substitutes is moderate as soundproof sealing strips can be replaced by other advanced soundproofing materials.

Competitive rivalry:
Intense competition exist among key players.

Key Takeaways

The Global Soundproof Sealing Strip Market Trend is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing demand from automotive industry. The growing demand for electric and hybrid vehicles is fueling the market growth.

Regional analysis – Asia Pacific dominates the global soundproof sealing strip market and is expected to grow with the highest CAGR during the forecast period. This is attributed to increasing automotive production and growing construction activities in the region, especially in China and India.

Key players operating in the soundproof sealing strip market are 3M Company, Dow Inc., Saint-Gobain, Trelleborg AB, Freudenberg Group, Cooper Standard Holdings Inc., NITTO DENKO CORPORATION, Henniges Automotive Holdings, Inc., Lauren Manufacturing, Hebei Shida Seal Group Co. Ltd., Zhongshan Zhensheng Rubber Products Co. Ltd., Yitong Sealing Material Co. Ltd., Elasto Proxy Inc., KOMPOZIT’KOMPLEKT LLC, Edgetech Europe GmbH.

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