(MENAFN- EIN Presswire)
Automotive NVH Materials market Analysis
Automotive NVH Materials Market Size, Share, industry Analysis, Growth Factors and Forecast 2024 to 2031
AUSTIN, TEXAS, UNITED STATES, June 17, 2024 /EINPresswire / -- According to SNS Insider, The Automotive NVH Materials Market Size was valued at USD 10.3 billion in 2023 and is expected to reach USD 15.80 billion by 2031 and grow at a CAGR of 5.5 % over the forecast period 2024-2031.
The automotive NVH materials market is driven by the increasing demand for
vehicles with enhanced ride quality, comfort, safety, and customization. The growing preference for battery-powered and hybrid vehicles, coupled with stringent regulatory requirements for quieter and safer vehicles, is expected to propel the market growth.
Download Free Sample Report with Full TOC & Graphs @
The market for automotive NVH materials is witnessing significant growth due to the increasing demand for vehicles with enhanced ride quality, comfort, safety, and customization. The growing preference for battery-powered and hybrid vehicles, coupled with stringent regulatory requirements for quieter and safer vehicles, is expected to propel the market growth. The market is also driven by the need for lightweight and fuel-efficient vehicles, which in turn is driving the demand for advanced NVH materials.
Prominent Key Players of Automotive NVH Materials Market
-Creative Foam Corporation
-BRC Rubber & Plastics Inc.
-Wolverine Advanced Materials
-ElringKlinger AG
-Hoosier Gasket Corporation
-Industry Products Co.
-Interface Performance Materials
-Hematite
-Plastomer Corporation
-Rogers Foam Corporation
-Swift Components Corp
-Unique Fabricating Inc.
-Avery Dennison
-KKT Holding GmbH
-Nicholson Sealing Technologies Ltd.
-W. KOPP GmbH & Co. KG
-Janesville Acoustics
Recent Developments
In March 2024: Leading materials supplier Covestroannounced the introduction of a new lightweight polyolefin foam that is intended for use in automobile interior applications.
In January 2024: BASF,unveiled a novel bio-based acoustic insulation material that contains some recycled elements. This development satisfies the automotive industry's increasing need for sustainable solutions.
In December 2023: A consortium of Europeanresearch institutes revealed a breakthrough in meta material-based noise-canceling materials. This technique could completely change how future cars handle NVH.
Segment Analysis
By Product
-Molded Rubber
-Metal Laminates
-Foam Laminates
-Film Laminates
-Molded Foam
-Engineering resins
By Product: The Foam laminates segment, is expected to retain the leading market share of around 40-45% in 2023, by proving benefits like lightweight and flexible properties, excellent noise absorption and insulation, and competitive cost in vehicles.
By Application
-Absorption
-Damping
By Application: The absorption segment holds the largest market segment above all by around 50-55%, due to proving absorption materials, like foams and felts, that convert sound energy into heat, effectively reducing unwanted noise within the vehicle cabin and make ride smoother.
By End-use
Cars
LCVs
HCVs
By End-use: The Passenger cars segment, expected to witness the highest revenue growth due to the increase in consumer demand for more comfortable ride in passenger cars which boost the demand for NVH materials.
Regional Analysis
Asia Pacific hold the dominating position in region due to its large market, due to its developing vehicle industry and expanding request for modern cars. This development is fueled by rising disposable incomes and a growing middle class, driving to a surge in car possession.
Want Detailed Insight on this Research, Drop your Enquiry Here @
Example: Expanding NVH Material market Presence in Asia Pacific
2022: China's automotive sector has experienced rapid expansion, making it the largest market in the world for electric vehicles (EVs). In 2022, China accounted for 51% of all EV sales worldwide, selling more than 1.3 million units.
2022: Korean Company, The Hyundai E-GMP,the first platform designed specifically for electric vehicles, was also introduced by Hyundai Motor Group. It will be utilized by a variety of electric cars, such as the Hyundai Ioniq 5 and Kia EV6.
2022: Indian Company, Tata Motors unveiled the Tata Nexon EV, the nation's first platform designed just for electric vehicles, which is anticipated to be crucial to the shift the nation makes to electric vehicles.
Key Takeaways:
Rising consumer demand for quieter and more comfortable vehicles fuels market growth.
Foam laminates are the leading product segment due to their versatile properties and effectiveness in noise reduction.
Absorption materials dominate applications, providing direct noise reduction benefits in vehicle cabins.
Passenger cars lead end-use segments, emphasizing comfort and compliance with noise regulations.
Asia Pacific emerges as the dominant region, supported by rapid automotive industry expansion.
Ongoing technological advancements and sustainability initiatives drive innovation in NVH materials.
Table of Content – Analysis of Key Points
Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Automotive NVH Materials Market Impact Analysis
Chapter 4.1 COVID-19 Impact Analysis
Chapter 4.2 Impact of Ukraine- Russia war
Chapter 4.3 Impact of ongoing Recession
Chapter 5. Value Chain Analysis
Chapter 6. Porter's 5 forces model
Chapter 7. PEST Analysis
Chapter 8. Automotive NVH Materials Global Market, By Product
Chapter 9. Automotive NVH Materials Global Market, By Application
Chapter 10. Regional Outlook
Chapter 11. Competitive Intelligence
Chapter 12. Key Companies Analysis
Chapter 13. Research Process
Buy Now This Complete Research Report at Discounted Price @
Our Related Report
Electric Parking Brake Market
Airless Tires Market
Automotive Rear-View Mirror Market
Akash Anand
SNS Insider Pvt. Ltd
+1 415-230-0044
...
MENAFN17062024003118003196ID1108342108