Pune, India, March 21, 2022 (GLOBE NEWSWIRE) -- The global automotive NVH material market size was USD 10.25 billion in 2020. The market is projected to grow from USD 10.96 billion 2021 to USD 16.93 billion in 2028 at a CAGR of 6.4% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Automotive NVH Material Market, 2021-2028.” Factors such as rising demand for automobiles and stringent government requirements for safer cars are expected to fuel the market growth during the forecast period. Also, factors such as rising demand for porous materials coupled with increasing awareness regarding curbing noise pollution will increase the footprint of the market.
COVID-19 Pandemic to Cause Market to Shrink due to Production Delays
The pandemic has caused economic backlash to the automotive NVH material sector by causing unprecedented measures such as lockdowns and restrictions on people’s movements. These factors caused declines in automobiles sales and lead to production delays simultaneously. Several prominent players were forced to shut down their manufacturing hubs due to the flattering of workforces due to irregular migration patterns. Disruptions in the supply chain and transportation restrictions further led to increase in raw material prices triggering more deformation of the market.
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List of Key Players Present in the Automotive NVH Material Market-
- Dow (Midland, Michigan, U.S.)
- 3M (Minnesota, U.S.)
- Huntsman International LLC (Texas, U.S.)
- Solvay (Brussels, Belgium)
- NITTO DENKO CORPORATION (Osaka, Japan)
- NVH KOREA (Ulsan, South Korea)
- Exxon Mobil Corporation (Texas, U.S.)
- Celanese Corporation (Texas, U.S.)
- Henkel Corporation (Düsseldorf, Germany)
- Sumitomo Riko Company Limited (Nagoya, Japan)
- Borgers SE & Co. KGaA (Bocholt, Germany)
- Covestro AG (Leverkusen, Germany)
Segments
On the basis of material
- Rubber
- plastic & foam
- fibers
By application
- Absorption
- Damping
- insulation
In terms of geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Report Coverage
The automotive NVH material report discusses a comprehensive analysis of the market and focuses on leading companies, products, and products. Additionally, the study also contains upcoming market trends and highlights vital industry developments that will guide our readers carving insightful business plans. An estimation for the market path is drawn from historical models by encompassing factors at the global, regional, and country levels.
Browse Detailed Summary of Research Report with TOC:
Drivers & Restraints
Stringent Regulations for Curbing Noise Pollution to Bolster Growth
Rising demand towards operational vehicles coupled with stringent regulations imposed by governments to reduce noise pollution will drive the automotive NVH material market growth during the forecast period. Also, expanding electric vehicle industry rising investment opportunities will boost the growth of the market. Additionally, rising consumer awareness regarding significance of regulating noise pollution from automobiles will increase the footprint of the market.
However, increasing interest towards lighter vehicles will limit the growth of the market during the forecast period. Also, technical transition towards alternative technologies and material will hinder the growth of the market.
Regional Insights
Asia Pacific to Hold Largest Market Share Due to Expanding Automotive Industry
Asia Pacific will contribute the largest automotive NVH material market share due to an expanding automobile sector along with rising demand for effective mobility solutions to name a few. Factors such as increasing purchasing power & improving standard of living of middle class will further push the boundaries of the market. Rising demand for improving passenger comfort will boost the growth of the market.
North America will contribute a significant share towards the global contribution due to constantly expanding automotive industry and rising electric vehicle sales.
The European market will retain exceptional growth during the forecast period due to high production standards and rising utilization of automotive NVH materials to name a few.
Competitive Landscape
Novel Product Launches and Mergers & Acquisitions to Help Capture Maximum Market Share
The dominant players in the automotive NVH material sector are investing heavily for creating materials that will increase passenger comfort right from the design phase. Primary strategies integrated by leading players is merging and collaborating for creating a varied product line for a larger consumer base. Other players are rushing towards launching novel product launches for capturing maximum revenue. For example, in June 2021, Free Field Technologies and Autoneum collaborated for developing products aimed at assisting OEMs to accelerate vehicle acoustic design. The newly developed product will help manage noise and vibration by maximizing the usage of acoustic treatments inside Actran acoustic simulation software.
Industry Development-
- October 2020: Wolverine Advanced Materials announced the launching of their new Value Line of QUIETPATH aftermarket brand brake shim and abutment clip material that has the ability to pertain high noise attenuation in a variety of environmental conditions.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Automotive NVH Materials Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Automotive NVH Materials Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Material Type (Value)
- Rubber
- Plastic & Foam
- Fibers
- Others
- By Application (Value)
- Absorption
- Damping
- Insulation
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By Material Type (Value)
TOC Continued…!
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