New York, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Automotive NVH Materials Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Automotive NVH Materials Market Research Report: Information By Type (rubbers, thermoplastic polymers, engineering resins, polypropylene, textile materials) By Aplication (absorption, insulation, insulator & absorber, damper, trunk module, floor module, wheel arches), By Vehicle Type (passenger vehicles, LCV (Light Commercial Vehicles), and HCV (Heavy Commercial Vehicles)) Forecast 2030”.
Eminent industry players profiled in the global automotive NVH materials market report include
- BASF SE (Germany)
- The Dow Chemical Company (US)
- 3M Company (US)
- ElringKlinger AG (Germany)
- Huntsman Corporation (US)
- Sumitomo Riko Co. Ltd (Japan)
- Covestro AG (Germany)
- Celanese Corporation US)
- Huntsman Corporation (US)
- Lanxess AG (Germany)
- Henkel AG & Co. KGaA (Germany)
- Wolverine Advanced Materials LLC (US)
- Borgers AG (Germany)
- DuPont (US) and
- Eastman Chemical Company (US)
- Among others.
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The global automotive NVH materials market is both fragmented as well as competitive for the presence of different international and also domestic industry players. These players have utilized innumerable innovative strategies for remaining at the vanguard and also sufficing to the rising need of the customers including contracts, partnerships, collaborations, contracts, new product launches, joint ventures, geographic expansions, and more. Further, they are also investing in numerous research and development activities.
Market Research Future’s Review on Automotive NVH Materials Market
The global automotive NVH materials market will touch USD 20.73 billion at a 6.58% CAGR by 2030, states the latest Market Research Future report.
COVID-19 Analysis
The proliferation of the novel coronavirus had a severe effect on the global automotive industry. A fall in the sales and production of cars was recorded in the first half of 2020. International trade declined significantly when harsh lockdown measures forced several sectors to close down. Border controls and international travel caused international trade cost to rise. Although the auto industry has improved somewhat after the recession, it was greatly affected via decreased demand. The majority of the countries in Europe, including the Czech Republic, Romania, Slovakia, Slovenia, Poland, and Hungary that rely on the automotive sector for increasing economic growth and employment, the high degree of integration into global value chains that makes the automotive industry vulnerable to disruptions from a pandemic. The tightening lending standards & increased risk of supply-chain disruption are likely to result in mergers and acquisitions.
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Drivers
Rising Consumer Warranty Claims to Boost Market Growth
The rising consumer warranty claims against auto manufacturers for component noise vibration and harshness will boost market growth over the forecast period.
Opportunities
Increasing Production of Heavy Commercial Vehicles to offer Robust Opportunities
The increasing use and production of heavy commercial vehicles in various end-use verticals will offer robust opportunities for the automotive NVH materials market over the forecast period.
Besides, some governments across the globe have imposed strict standard noise regulations for cars. Such standard regulations have compelled auto OEMs in increasing the use of NVH materials like polycarbonate, polyurethanes, and nitrile rubber as such materials help to reduce the noise of a car while ensuring performance and safety. This is also boosting market growth.
Restraints
Greater Use of Replacements to act as Market Restraints
The development and also the greater use of replacements like active noise control systems may act as market restraints over the forecast period.
Challenges
Increased Vehicle Weight to act as Market Challenge
The increased weight of vehicles may act as market challenge over the forecast period.
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Market Segmentation
The global automotive NVH materials market has been bifurcated based on vehicle type, application, and type.
By type, the rubbers segment will lead the market over the forecast period. Rubber is consistent and dense that makes it a perfect medium for absorbing sound and vibration.
By application, the absorption segment will dominate the market over the forecast period. The increasing NVH tests are adding to the growth of the segment.
By vehicle type, the passenger vehicles segment will spearhead the market over the forecast period for the growing population, easy access to funding and credit, and increased spending power.
Regional Analysis
APAC to Lead Automotive NVH Materials Market
The APAC region will lead the global automotive NVH materials market over the forecast period. The presence of a highly established vehicle industry in India, Japan, Korea, and China, long-term investment in driving technology, NVH materials being widely used in electric, hybrid, and gasoline, demand for passenger cars growing up, growing population that is increasing the need for cars, better driver comfort, the expansion of production capacity, rapid rise in the auto industry, China being the key consumer of automotive NVH materials, improving living standards that directly affects the market growth, ease in the accessibility of raw materials, & low cost labor are adding to the global automotive NVH materials market growth in the region.
North America to Possess Significant Growth in Automotive NVH Materials Market
North America will possess significant growth in the automotive NVH materials market over the forecast period. Increasing R&D investments in automobiles & mass production techniques, the US being the hub to one of the highest auto industries in the world, most automakers having engine plants, R&D, transmission plants, and testing centers in the US, a global consumer base, available infrastructure, a highly skilled workforce, and local & state government initiatives, the presence of top domestic manufacturers, and strict laws governing vehicle fuel economy are adding to the global automotive NVH materials market growth in the region.
Segmentation of Market covered in the research:
Automotive NVH Materials Market Research Report: Information By Type (rubbers, thermoplastic polymers, engineering resins, polypropylene, textile materials) By Aplication (absorption, insulation, insulator & absorber, damper, trunk module, floor module, wheel arches), By Vehicle Type (passenger vehicles, LCV (Light Commercial Vehicles), and HCV (Heavy Commercial Vehicles)) Forecast 2030
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