Feb 18, 2021/IndustryNewsGlobal/--The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Acoustic Diaphragm Market.
It was estimated prior to this unanticipated outbreak Acoustic Diaphragm Market will reach CAGR of 8.0% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Acoustic Diaphragm Market Insights
Acoustic Diaphragm Market is likely to witness an impressive CAGR of 8.0% during the forecast period. Growing electronic industry, specifically consumer electronics, and increasing disposable income in emerging economies are some of the major factors fueling the acoustic diaphragm market during the forecast period.
Market Share Analysis
Acoustic Diaphragm Market Share: By Material Type
Based on the material type, the market is segmented as paper, wood, polypropylene, polycarbonate, polyester, polyamide, polyether ether ketone, and others. Paper diaphragm is estimated to account for the largest share of the market during the forecast period owing to easy availability and low-cost as compared to its counterparts. These are thin and can be easily modified and also offer various features such as excellent moisture resistance and acoustic characteristics, making them highly suitable for loudspeakers and microphones.
On the other hand, polycarbonate is projected to witness significant growth rate in the market during the forecast period. These polycarbonate materials are commercially available and offer various features, such as proper flexibility & rigidity, sound wave propagation, acceptable heat dissipation, fulfilling all the requirements for a good acoustic diaphragm, eventually boosting the segment’s growth over the forecast period.
Acoustic Diaphragm Market Share: By End-User Type
Based on the end-user type, the market is segmented as earphone & headphone, loudspeakers & AI, microphone, and others. The microphone segment accounted for the major part of share in 2020 and is estimated to witness significant growth rate in the market. Further, increasing sale of smartphones, tablets, and TV sets have accelerated microphone consumption, fueling the market growth during the forecast period. In addition, earphone & headphone is projected to be the fastest-growing segment of the market globally. Also, other factors such as growing adoption of virtual reality in various sectors including education, construction, business, and armed forces mainly for the purpose of training are expected to boost the growth of the acoustic diaphragm market over the forecast period.
Acoustic Diaphragm Market Share: By Region
In terms of regions, Asia-Pacific is estimated to account for the major share of the market owing to growing electronic industry, increasing disposable income, and growing popularity of advanced microphones in the region during the forecast period. The presence of some key manufacturers of electronic components along with the growing demand for smartphones is another factor bolstering the growth of the regional market over the forecast period. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.