Global Automotive NVH Materials Market
Global Automotive NVH Materials Market Size Zooming to Cross USD 15.6 Billion by 2029
Published | 29 November 2022
The global automotive NVH (noise, vibration, and harshness) materials market is gaining significant traction, because of the sharp increase in global automobile production and demand as well as growing consumer awareness of automotive terminology and quality check inspection along with strict government regulations that control noise pollution and enhance driver safety.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimates the global automotive NVH (noise, vibration, and harshness) materials market size at USD 10.38 billion in 2022. During the forecast period between 2023 and 2029, the global automotive NVH materials market size is projected to grow at a steady CAGR of 5.8% reaching a value of USD 15.61 billion by 2029. The global automotive NVH materials market has experienced phenomenal growth during the past few years, which is attributed to the sharp increase in global automobile production and demand as well as growing consumer awareness of automotive terminology and quality check inspection. As a result, manufacturers are paying close attention to the harshness, vibration, and noise of their vehicles. The global market for automotive NVH materials is also expanding because of strict government regulations that control noise pollution and guarantee driver safety.
Global Automotive NVH Materials Market – Overview
Automotive noise, vibration, and harshness (NVH) materials are used to change the vibration and noise characteristics of automobiles, especially in transportation and vehicles. The discomfort of passengers and the longevity of the vehicle can both be hampered by NVH in automobiles caused by airborne and structure-borne sounds. The use of NVH-reduction materials in automobiles helps to lower these sounds and enhance ride comfort. By absorption or the use of barrier materials, the vibration and noise that are conveyed from different engine accessories, such as steering wheels, cooling fans, and pedals, are decreased. Hence, the demand for automotive NVH materials is forecast to increase at a significant rate.
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Global Automotive NVH Materials Market – By Application
Based on application, the global automotive NVH materials market is segmented into absorption, insulation, and damping. The absorption application segment accounts for the highest market share in the global automotive NVH materials market by application. Automobile manufacturers commonly use NVH materials for the noise and vibration absorption from the source of its emergence. They often use a thick barrier layer to prevent noise echo in the limited space of the automobile. The automobile manufacturer focuses on the materials used, such as cover films, foam type, and thickness, to ensure maximum NVH absorption.
Impact of COVID-19 on Global Automotive NVH Materials Market
The automobile industry was among the worst affected markets during the COVID–19 pandemic outbreak. The automobile manufacturing units had to temporarily shut down their operations due to lockdown protocols and a shortage of human resources. It resulted in a significant decline in the demand for automotive NVH materials, inflicting huge losses on the market players. The demand for vehicles also registered a decline post the outbreak, due to income losses and a major shift towards purchasing only essential items. Hence, the demand for NVH materials from the aftermarkets also dwindled.
Major players operating in the global automotive NVH materials market include BASF SE, Dow, Inc, Covestro AG, Celanese Corporation, The 3M Corporation, Henkel AG, Dupont De Numerous, Inc, Eastman Chemical Company, Huntsman Corporation, Sumitomo Riko Company Limited, Exxon Mobil Corporation, Lanxess AG, and BORGERS SE & Co. KGaA. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the global automotive NVH materials market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global automotive NVH materials market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Automotive NVH Materials Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028, Segmented By Material Type (Thermoplastic Polymers, Engineering Resins, Others); By Vehicle Type (Passengers Cars, Light Commercial Vehicles, Heavy Commercial Vehicles); By Application (Absorption, Insulation, Damping); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: November 2022
A significant surge in the demand for automobiles across countries driving the manufacturing of vehicles, rising consumer awareness, and stringent regulations on noise pollution and ensuring driver safety are expected to drive global automobile NVH (noise, vibration, and harshness) materials market during the forecast period 2023 and 2029.
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