New York, July 18, 2023 (GLOBE NEWSWIRE) -- The global automotive NVH materials market size is projected to expand at ~5% CAGR between 2023 and 2033. The market is expected to garner a revenue of USD 17 billion by the end of 2033, up from a revenue of ~USD 11 billion in the year 2022.The market growth is attributed to the rapid growth of the automotive industry across the globe. For instance, the global automotive industry is expected to reach about USD 9 trillion by the year 2030. Furthermore, a significant increase in the production and use of heavy duty vehicles is expected to drive market growth over the forecast time frame. Automotive NVH (noise, vibration, and harshness) materials are used to modify the vibration and noise characteristics of automobiles, especially in transportation and vehicles.
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The use of absorption and barrier materials reduces vibration and noise transmitted by various engine accessories such as steering wheels, cooling fans, floors, and pedals. Interest in automotive NVH materials is based on the development of the automotive industry and relies on an enjoyable learning experience. Manufacturers are currently focusing on evaluating and developing new models with higher NVH values during the design and development of new electric vehicles.
Global Automotive NVH Materials Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- The passenger cars segment to garner the highest growth
- Market in North America to grow at a highest rate
Surge in Production of Heavy Vehicles across the Globe to Boost Market Growth
Heavy vehicles are manufactured on a large scale owing to their advantages in transportation, long distance travel, and others. However, owing to their rugged nature, heavy raw materials and robust components have created a need for automotive NVH materials to improve road performance. Therefore, increasing production of heavy-duty vehicles is expected to increase the growth of the automotive NVH materials market during the forecast period. According to the latest report released in the year 2022, North American mid and heavy-duty vehicle production is up almost 5% compared to the year 2021. NVH materials are used to control the air transmission, structural transmission, and noise produced by the vehicle's internal components. These materials include moulded rubber, moulded foam, metal-film laminates, and engineering resins. In recent years, there has been an increasing demand for NVH materials that absorb noise and prevent it from entering the vehicle interior, minimizing discomfort and improving vehicle performance. As automotive development, cycles continue to lengthen to meet NVH material needs, comprehensive NVH evaluations are becoming increasingly important.
Automotive NVH Materials Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increase in Automobile Production to Drive Market Growth in the Asia Pacific Region
The automotive NVH materials market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2033. The regional market growth is mainly backed by the increase in automobile production and sales. Owing to the high demand for automobiles in the Asia Pacific region, the market size of automotive NVH materials is expected to expand over the forecast period. According to statistics released by the International Automobile Organization, total vehicle production in the Asia Pacific region increased from 44,277,549 in the year 2020 to 46,732,785 in 2021. In addition, total sales in the region in the year 2021 exceeded almost 43,672,758 units. Up from 40,322,544 in the year 2020. In addition, the presence of major key players and major exporters and importers of automobiles in this region is expected to offer excellent opportunities for market growth during the forecast period. For instance, China was noted to export about 400,000 commercial vehicles and 2 million passenger cars in 2021.
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Continuously Growing Automotive Sector to Propel Growth in the North American Region
The automotive NVH materials market in the North American region is estimated to garner the highest CAGR by the end of 2033. The growth of the market in this region can primarily be attributed to the continuously growing automotive sector coupled with increasing vehicle production in the region. For instance, in the year 2021, approximately 10 million cars were produced in the United States. In addition, large-scale adoption of electric vehicles is another key factor expected to further drive market growth throughout the forecast period in the region. NVH testing helps overcome vehicle deficiencies in terms of overall comfort and performance while driving. A more powerful vehicle makes less noise and vibration, making driving more comfortable and enjoyable. This reduces fatigue on long trips. However, it is not just about designing quieter cars for quieter journeys; it is about controlling noise. Because it is also about optimizing the infotainment experience. Cars are fast becoming an extension of our homes and offices, with an increasing emphasis on in-vehicle technology and communications. This increases the importance of synchronizing the entire in-vehicle experience with these areas.
Automotive NVH Materials Segmentation by Functions
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Others
Amongst these four segments in automotive NVH materials market, the passenger car segment is anticipated to hold the largest share over the forecast period. The growth in this segment is owing to increased sales due to increased production of passenger cars worldwide. According to the Organization of International Automobile Manufacturers (OICA), 49 million passenger cars were noted to be sold worldwide in the year 2021, with 57 million passenger cars produced. In addition, rising living standards in emerging markets along with rapid urbanization are another key factor expected to drive market growth over the forecast period. Passenger car means any road motor vehicle other than a moped or a motorcycle intended to transport passengers and capable of carrying up to nine persons (including the driver). A passenger car is any vehicle designed to carry less than 10 people. SUVs are three times more likely to overturn than passenger cars, and they are designed to be both practical passenger cars and cargo vehicles for multiple purposes.
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Automotive NVH Materials Segmentation by Application
- Absorption
- Insulation
- Damping
Amongst these three segments, the absorption segment is anticipated to hold a significant share over the forecast period. The use of sound absorbing materials in vehicle manufacturing is increasing to minimize the transmission of noise, which is attributed to the growth of this segment over the forecast period. On the other hand, the insulation segment is projected to witness a notable growth rate during the forecast period owing to increasing demand for insulation in NVH solutions. Until now, the purpose of NVH (noise, vibration, and harshness) development has been to reduce vibration and noise. It is important to create a natural sound that works. Nowadays, customization and the emotional user experience are important aspects of vehicles. The NVH app measures vehicle vibration and compares it to the speed of these parts. If there is a match, the NVH app will show a glowing red part on the vehicle view screen, representing the vibration detected on the screen.
Automotive NVH Materials Segmentation by Product
- Polyurethane
- Polypropylene
- Polyvinyl Chloride
- Textile Materials
- Fiber Glasses
- Others
Few of the well-known market leaders in the automotive NVH Materials market that are profiled by Research Nester are The Dow Chemical Company, Covestro AG, Sumitomo Riko Company Limited, Henkel AG & Co. KGaA, Celanese Corporation, Exxon Mobil Corporation, NVH KOREA INC., 3M, Solvay SA, and other key market players.
Recent Development in the Global Automotive NVH Materials Market
- Celanese Corporation has decided to acquire a majority of DUPONT's mobility and materials businesses. The company will acquire a broad portfolio of engineering thermoplastics and elastomers, industry-recognized brands and intellectual property, manufacturing facilities and an excellent organization.
- Covestro AG has signed a contract with SOL Kohlensäure for biogenic carbon dioxide (CO₂). The partnership aims to help the company switch to alternative raw materials.
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