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(I-AutoNewsWire.com, December 18, 2019 ) Automotive NVH Materials Market Overview
• The global automotive NVH materials market is growing with a CAGR of around 6 % during the forecast period from 2019 to 2026.
• Automotive NVH (Noise Vibration Harshness) materials are used for reducing noise and vibration in vehicles. The vibration and noise coming from various engine accessories like cooling fans, steering wheel, pedals, and floor are reduced by absorption or insulation through the use of these materials.
Automotive NVH Materials Market Drivers and Restraints
• The high growth in the automotive industry, increasing awareness among consumers along with the stringent government regulations for quieter & safer vehicles is driving the market for automotive NVH materials.
• The awareness among the customers about the advantages of NVH reduction and acoustic management in cars is leading to an increase in NVH materials utilization in vehicles.
• Consumers are demanding for more comfort and safety in the vehicles. The manufacturers in the automotive industry are striving to improve the nature & architecture of components by deploying several materials to reduce noise and vibration in cars to meet the expectations of the customer.
• The increasing warranty claims from customers against the vehicle manufacturers for component noise vibration & harshness is also contributing to the growth of the market.
• The development and increased usage of substitutes like active noise control system, which helps the manufacturers to achieve noise control without using NVH materials, is a significant restraint to the growth of the market.
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Automotive NVH Materials Market Segmentation Analysis
• The global automotive NVH materials market report segments the market by type, application, and vehicle type. The type segment includes rubbers, thermoplastic polymers, and engineering resins. The rubber segment is expected to dominate the global automotive NVH materials market in the coming years.
• The rubber segment has been further sub-segmented as nitrile butadiene rubber (NBR), ethylene propylene diene monomer (EPDM), and others.
• Due to its unique physical properties such as lightweight, high density and consistency, rubbers are widely accepted as ideal materials for sound absorption in vehicles.
• It provides optimum noise insulation and vibration damping. The growing demand for quieter and safe vehicles is boosting the market for NVH rubber materials.
• The low cost, high-temperature stability, and fluid resistance of rubber are further contributing to the market growth of the segment.
• Further, the report segments the market by the application as absorption, damping, insulation, and others. Also, based on the type of vehicle, the market has been segmented as passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). Passengers cars had the largest market share in 2017 owing to the high production output of vehicles among all the vehicle types.
• However, the HCV segment is estimated to register the highest growth during the forecast period. It is because of the increasing use of heavy-duty trucks in the logistics and transportation industry for transporting bulk commodities over long distances.
• Also, the presence of stringent regulations regarding vehicle safety, regarding vehicle weight and safety standards will propel the demand for lightweight materials in HCV, and hence it will boost the market for NVH materials in Heavy Commercial Vehicles (HCV).
Automotive NVH Materials Market Geographical Share
• The report segments the market by geographic region which includes North America, South America, Europe, Asia-Pacific, and RoW. Asia-Pacific held the largest market share in 2017, and it is expected to continue its dominance during the forecast period.
• The high demand for NVH materials in the region is primarily due to the growing automotive industry in countries like China, South Korea, India, Japan, Thailand, and Indonesia. Many key players are investing heavily in the region and set up their production facilities in countries like China, Japan, and India.
• The low manufacturing cost, availability of skilled workforce, and favorable government policies are the primary reason for the increasing investments in the region. China is the largest consumer of NVH materials in the area and will dominate the Asia-Pacific as well as the global market during the forecast period.
• North America and Europe held a significant market share in 2017, and the demand for NVH materials in these regions is primarily boosted by the increasing demand of automobiles coupled with the existing government regulations regarding noise pollution.
Automotive NVH Materials Market Key players
• The Global Automotive NVH Materials market is highly fragmented due to the presence of many established and local players around the world.
• The report profiles the following companies- BASF, 3M, Huntsman Corporation, Exxon Mobil, Warren Nonwoven Ltd., Coventry AG, Mitsui Chemicals, Dow Chemicals, Celanese Corporation, Sumitomo Riko Company Limited, Lanx-ess AG, and Borgers AG. These companies are adopting various growth strategies like mergers & acquisitions, expansions and new product developments for enhancing market competitiveness.
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