Automotive NVH Materials Market 2021 Driving Factors Forecast Research 2028

Posted on Mar 3 2023 6:07 AM

"Companies covered in the automotive NVH material market are 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) and many more profiled. "

As the chemical industry moves into 2023, strong demand for both commodity and specialty chemicals should keep prices robust throughout the year. However, the  industry could face margin pressures amid raw material cost inflation, which will likely remain high through the first half of 2023.

The 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 MaterialMarket, 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 Impact

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 flattering of workforces due to irregular migration patterns. Disruptions in the supply chain and transportation restrictions further led to increase in raw material prices triggered more deformation of the market.

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On the basis of material, the market can be segmented into classified into rubber, plastic & foam, fibers, and others.

By application, the market can be divided into absorption, damping, and insulation.

In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and 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.

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.

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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 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 have the ability to pertain high noise attenuation in a variety of environmental conditions.

List of Key Players Present in the Market-

  • Dow (Midland, Michigan, U.S.)
  • 3M (Minnesota, U.S.)
  • Huntsman International LLC (Texas, U.S.)
  • Solvay (Brussels, Belgium)
  • 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)

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