Automotive NVH Materials Market
The global automotive NVH materials market was valued at USD 12.52 billion in 2023 and is projected to be worth USD 13.34 billion in 2024 and reach USD 21.70 billion by 2032, exhibiting a CAGR of 6.4% during the forecast period. Asia Pacific dominated the automotive NVH materials market with a market share of 55.99% in 2023. This vital information is presented by Fortune Business Insights™, in its report, titled, “Automotive NVH Material Market, 2024-2032.” 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.
The Automotive NVH (Noise, Vibration, and Harshness) Materials Market has emerged as a critical segment in the automotive industry, driven by rising consumer demand for enhanced vehicle comfort, quieter cabins, and superior ride quality. NVH materials are integral to reducing unwanted noise and vibrations while improving the overall acoustic and tactile experience within vehicles.
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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)
- 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)
Key Drivers of Growth
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Stringent Noise Regulations: Governments worldwide are implementing strict regulations on permissible noise levels in vehicles. NVH materials, such as sound-absorbing foams, damping sheets, and insulation materials, play a pivotal role in compliance.
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Growing Demand for Electric Vehicles (EVs): EVs, while quieter than internal combustion engine (ICE) vehicles, pose unique NVH challenges, such as high-frequency noise from electric motors. This has led to increased adoption of advanced NVH materials tailored for EV applications.
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Consumer Focus on Comfort: Modern consumers prioritize comfort, making NVH optimization a competitive differentiator for automakers. Enhanced NVH performance contributes to a premium feel, especially in luxury and high-end vehicles.
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Technological Advancements: Innovations in lightweight and sustainable materials are reshaping the NVH landscape. Automakers are increasingly using eco-friendly and recyclable NVH materials to align with sustainability goals.
Segments
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.
Information Source: https://www.fortunebusinessinsights.com/automotive-noise-vibration-and-harshness-nvh-materials-market-103629
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.
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