Automotive NVH Materials Market Overview:
The Automotive Noise, Vibration, and Harshness (NVH) Materials Market is expected to witness significant growth, with a valuation of US$ 14.19 billion in 2023. This growth is primarily driven by rising demand from the automotive sector, where stringent regulations are being imposed for quieter and safer vehicles. As manufacturers prioritize passenger comfort and safety, the demand for NVH materials is likely to increase across various vehicle segments, particularly in passenger vehicles, which dominate the global market.
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Automotive NVH Materials Market Scope:
The report aims to provide a comprehensive analysis of the Automotive NVH Materials Market, detailing its current and past trends, projected market size, and dynamics. It focuses on key market players, including leaders, followers, and new entrants, and encompasses a thorough examination of external and internal factors influencing market growth. Moreover, the report utilizes tools like Porter’s Five Forces and PESTEL analysis to evaluate the competitive landscape and micro-economic factors affecting the market.
Automotive NVH Materials Market Drivers:
The primary driver of the Automotive NVH Materials Market is the growing demand for vehicles in developing regions. Countries like China, South Korea, Japan, and India are becoming significant automotive production hubs. With local demand for automobiles rising, manufacturers are focusing on enhancing safety and comfort, which in turn increases the usage of NVH materials. Additionally, the regulatory environment is becoming increasingly stringent, with bodies such as the European ECE and EU enforcing tougher standards for vehicle noise and emissions. As consumer awareness around noise and vibration performance increases, automotive manufacturers are compelled to prioritize NVH performance, further driving the demand for these materials.
Automotive NVH Materials Market Segmentation:
by Type
Rubbers
Thermoplastic Polymers
Engineering Resins
by Vehicle Type
Passenger Vehicles
LCV
HCV
Automotive NVH Materials Market Key Players: The key players are
1. BASF SE
2. The Dow Chemical Company
3. Exxonmobil Corporation
4. 3M Company
5. Mitsui Chemicals, Inc.
6. Sumitomo Riko Company Limited
7. Covestro AG
8. Celanese Corporation
9. Huntsman Corporation
10. Lanxess AG
11. Borgers AG
12. Henkel AG
13. Recticel
14. DU Pont.
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Automotive NVH Materials Market Regional Analysis:
The Asia-Pacific (APAC) region is poised to lead the Automotive NVH Materials Market during the forecast period. This growth can be attributed to the rapid expansion of automotive production and the increasing demand for vehicles in emerging markets. China stands out as a key consumer of automotive NVH materials, driven by population growth and rising living standards. The availability of raw materials and affordable labor in the region further accelerates market expansion. As key players invest in production capabilities in APAC, the region is projected to witness the fastest growth in demand for NVH materials.
COVID-19 Impact Analysis on Automotive NVH Materials Market:
The COVID-19 pandemic significantly impacted the automotive industry, leading to production halts and disrupted supply chains. Initially, the demand for automotive NVH materials saw a downturn as manufacturing activities slowed. However, as economies began to recover and automotive production resumed, the market witnessed a rebound. The pandemic heightened awareness of vehicle safety and comfort, pushing consumers to seek vehicles with improved NVH characteristics. As the industry adapts to new norms, including stricter health and safety regulations, the demand for NVH materials is expected to increase as manufacturers focus on producing quieter and safer vehicles.
Key Questions Answered in the Automotive NVH Materials Market Report are:
- What will be the CAGR of the Automotive NVH Materials market during the forecast period?
- Which segment emerged as the leading segment in the Automotive NVH Materials market?
- Which are the prominent players in the Automotive NVH Materials market?
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