Room Treatment

 To me, an acoustic panel can diffuse, absorb or reflect.  It's a generic term for any treatment.  Of course I could be wrong....

+1 winoguy -- "acoustic panel" is not specific about whether it diffuses or absorbs.

IME, Acoustic panels are primarily designed to absorb sound waves to reduce room echoes and reverberation, while acoustic diffusers scatter sound waves to create a more balanced and natural-sounding acoustic environment. Check out some of the very best rooms in Audiogon Virtual systems to have better understanding and placement of these two very critical but different acoustic treatments. 

@lalitk It's hard to get clear on this for a lot of folks. If you go to Acoustimac's website, it aligns "acoustic panel" with absorption. If you go to GIK, the first things displayed are diffusers but they also have absorption on the page.

Viz. https://www.gikacoustics.com/product-category/acoustic-panels/