The growth of the acoustic diaphragm market is driven by surging demand for advanced headphones and earphones, gradual revival of the semiconductor industry, and advancements in the emerging MEMS technology
SELBYVILLE, Del., Nov. 17, 2021 /PRNewswire/ -- According to the report published by Global Market Insights Inc., the Acoustic Diaphragm Market was estimated at USD 15 billion in 2020 and is expected to surpass a valuation of USD 26 billion by 2027, registering a CAGR of 8.3 % from 2021 to 2027. The report provides a detailed analysis of the market size & estimations, major investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and wavering market trends.
The global semiconductor chip shortage that started by the end of 2020 has adversely impacted the production of a plethora of electronics goods, including smartphones. This has severely impacted the growth momentum of the overall acoustic diaphragm market in 2021. The existing acoustic industry trend has seen a decline of more than 6% in 2021; however, with several chipmakers focusing on improving capacity to address demand, the market is anticipated to get back on its normal course by 2023 end.
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In terms of end-user, the earphone & headphone segment is speculated to reach a significant valuation of around USD 4,339.7 million by the end of 2027, expanding at a CAGR of approximately 8.6% over the study period. Acoustic diaphragms find widescale use in headphones and earphones to enhance their sound quality and frequency band. Escalating demand for innovative and advanced headphones as well as earphones is slated to fuel the adoption of acoustic diaphragms in the segment.
Moreover, soaring demand for wireless earphones and headphones among consumers across multiple settings, including fitness centers, call centers, and gaming centers, among others, is estimated to fuel market expansion through the forecast period.
Key reasons for acoustic diaphragm market growth:
1. Booming global consumer electronic industry.
2. Advancements in sound engineering for earphones and headphones.
3. Strong product demand across North America.
From a regional reference frame, the Latin America acoustic diaphragm market is anticipated to expand at a CAGR of almost 5.6% through the analysis period. This regional growth can be attributed to a rising demand for microphones and headphones in Brazil.
Meanwhile, the Middle East & Africa acoustic diaphragm market is slated to gain considerable traction, progressing at a CAGR of more than 4.8% through the projected timeline. Widespread use of microphones in numerous consumer electronic items is expected to drive revenues across key regions.
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Impact of COVID-19 pandemic on acoustic diaphragm market:
The onset of the COVID-19 outbreak disrupted the supply chain in the form of shipping delays from component suppliers to electronics industry manufacturers, particularly at a time where work from home policies drove a surge in consumer electronics device sales. This negatively affected the overall business scenario, leading to shortage of semiconductors, crucial components used in electronics devices.
However, with economies reopening and enterprises from several industries looking to collaborate with chip manufacturers to secure supplies, an end to the ongoing shortage is likely to come sooner rather than later. Consequently, increasing expendable income from post-pandemic boom and expanding e-commerce sector would help the market balance itself out over the coming years.
Leading market players:
Prominent market players in the acoustic diaphragm industry include Mica Manufacturing Co., Pvt. Ltd., Materion Corporation, Poyun Enterprise, Vesper Technologies, Foster Electric Company Limited, Vansonic Enterprise Co., Ltd., Tectonic, and Elmetric AB, among others.
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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