2021 Auto News Automotive updates

Global Automotive NVH Materials Market is expected to project a notable CAGR of 5.41% in 2030.

Credits: www.ksusentinel.com

Global Automotive NVH Materials Market to surpass USD 22.52 billion by 2030 from USD 7.9 billion in 2018 at a CAGR of 7.41% throughout the forecast period, i.e., 2019-30. The rising market share is due to high car sales and increasing demand worldwide for lightweight vehicles. NVH is associated with noise, vibration which harshness which provides a wide spectrum of sensations from hearing to feel. As it is considered to be the most crucial part of product production, the demand for automotive NVH materials is experiencing rampant growth. Growing demand for cars in developing economies is directly impacting demand for noise control products in automobiles due to rapid urbanization, growing disposable incomes, and evolving lifestyles. The growing market for replacement auto-parts and soundproofing accessories is expected to increase demand for products over the forecast period.

NVH stands for Harshness with Noise Vibration. In several automotive components, such as engine covers, doors, panels, and seats, among others, reduced vibration and noise are of crucial significance. Different materials are used to regulate a vehicle’s NVH performance; some are used to regulate airborne noise, while others are used to control structure-borne noise and interior component-generated noise. These materials are first transformed and applied in the vehicle into goods. A vehicle’s NVH function has been described as a key factor affecting the buyer’s buying decision. Manufacturers of automotive vehicles are actively promoting vehicle performance in terms of speed and horsepower, but customers are demanding more comfort for drivers and passengers. This has intensified the considerable effort of car manufacturers to systematically reducing, contain, and potentially eradicate vibration and noise in the automotive environment.

Global Automotive NVH Materials Market: Key Players

  • BASF SE
  • 3M Company
  • BRC Rubber & Plastics Inc
  • Dow chemical company
  • ElringKlinger AG
  • Huntsman corporation
  • Sumitomo Riko Co. Ltd
  • Unique Fabricating Inc
  • W. KOPP GmbH & Co. KG
  • Wolverine Advanced Materials

Global Automotive NVH Materials Market: Segments

Foam laminates Segment to grow with the highest CAGR of 15.2% during 2019-30

Global Automotive NVH Materials Market is segmented by Type as rubber, foam, polyvinyl chloride (PVC), metal sheet, cork, felt, and others. The other types include fiberglass and resins. the Rubber segment dominated the market with a revenue share of 30.12% in 2018 as rubber provides noise absorption and vibration damping, and is known as the perfect sound absorbing material in automobiles due to its special physical properties of high density and consistency. The rise in production capacity by key rubber producers is driving demand growth across the globe. Over the coming years, the growing use of foam laminates for floor and door insulation in passenger and commercial vehicles is expected to be a key driving force in the growth of this segment. In addition, due to the lightweight and versatility of the commodity, the increased use of foam laminates for the roof lining and cushioning in vehicles is expected to support the demand segment.

Sound Absorption segment to grow with the highest CAGR of 7.71% during 2019-30

Global Automotive NVH Materials Market is segmented by application into sound absorption, insulation, and vibration damping. The greater market share of 49% in 2018 was accounted for by vibration damping as the demand for the product has witnessed a paradigm shift due to rising awareness among consumers. By minimizing cabin noises and frictions, the increasing importance of noise-free and relaxed riding experiences has increased the use of noise absorption products in automobiles. Moreover, changing customer tastes towards accessorizing car entertainment systems raises the need for automotive noise absorption and damping solutions to boost the efficiency of entertainment systems. The aforementioned variables are expected to drive the growth in demand for the segment over the coming years. The market for NVH materials is expected to experience the highest growth in the application of sound absorption, with a CAGR of 7.8 percent over the forecast period. The increase in demand for these products for this type of application is mainly motivated by a large number of complaints worldwide regarding excessive noise from vehicle parts.

Global Automotive NVH Materials Market: Market Dynamics

Drivers

Increasing Usage in Passenger Vehicles

Growing demand for lightweight vehicles and increasing demand for automobiles worldwide are the factors driving the growth of the global automotive NVH content industry. The market for noise regulator products in vehicles is expanding with rising disposable income, shifting lifestyles, and rapid urbanization. People around the globe have been found to be more inclined towards eco-friendly, lightweight, and comfortable cars. In addition, the swelling of vehicle production is reinforcing the growth of the automotive NVH materials market globally. As demand for cars rises in emerging markets, car manufacturers are focusing more on integrating safety and comfort into their vehicles. In this way, carmakers aim to create product differentiation in order to maximize the overall sales of their product portfolio.

Growing Demand for Light Weight Performance Materials

The reduction of vehicle weight has become one of the big issues in the automotive industry in the current scenario. Light-weight vehicles save fuel, reduce brake and tire wear and help reduce emissions. Lightweight vehicles also enhance fuel economy and assist with NVH power. In addition, Neptune, an ultra-fine fiber that provides high sound absorption efficiency while being very lightweight, has been developed by Tecman Specialty Materials Ltd. Therefore, in order to meet the rising demand, many vehicle manufacturing companies have increased their rate of NVH material consumption due to the advantages of lightweight materials in reducing NVH. This results in the growth of the market for automotive NVH materials.

Restrain

Threat of Substitutes from Alternative Technologies

The availability of additional products that reduce NVH in automobiles is hindering the growth of the global demand for automotive NVH materials. Such materials are used widely to minimize excessive vehicle noise and vibration. In addition, the availability of different alternatives, such as advanced active noise control systems, which use fewer manual inputs to prevent vibration and unnecessary noise diffusion in passenger cabins. In addition, these variables are hindering the growth of automotive NVH materials globally.

Global Automotive NVH Materials Market: Regions

Global Automotive NVH Materials Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.