Global Automotive NVH Materials Market Outlook to 2024: $16+ Billion Opportunity – IMARCGroup.com

AMSTERDAM, N.Y. - May 14, 2019 - PRLog -- The latest report by IMARC Group, titled "Automotive NVH Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", finds that the global automotive NVH materials market (https://www.imarcgroup.com/automotive-nvh-materials-market)reached a value of US$ 8.2 Billion in 2018. Automotive noise, vibration, and harshness (NVH) materials reduce unwanted noise, vibrations, and harshness in automobiles, especially buses and cars. Structure- and air-borne sounds can cause discomfort for passengers and hamper the vehicle's durability. Various engine accessories, like steering wheels, cooling fans, floor and pedals, transmit vibration and noise which are reduced using NVH materials. As the use of these materials improves durability, enhances fuel economy and lowers cabin sounds in vehicles, they are being used by automotive manufacturers across the globe. Moreover, an increase in the sales of luxury cars around the world, coupled with the flourishing automotive industry, is providing thrust to the growth of the NVH materials market.

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Market Trends:

At present, non-woven automobile NVH materials are in constant demand from vendors on account of their lightweight and oil resistance. Besides, manufacturers are widening their product portfolio by employing polyurethane, polypropylene and polyvinyl chloride as NVH materials. Apart from this, governments around the world are implementing strict regulations to reduce vehicle noise levels. For instance, the European Commission adopted a new regulation to reduce noise pollution from passenger vehicles, buses, trucks, coaches, etc. in 2014. In line with this, automobile manufacturers are utilizing NVH materials to minimize unwanted noise. Further, the use of barriers with tunable transmission loss and sound absorbers with tunable frequency response are expected to propel the sales of automotive NVH materials. On account of these factors, the market is expected to reach a value of around US$ 16 Billion by 2024, expanding at a CAGR of 5.6% during 2019-2024.

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Market Summary:

• On the basis of products, polyurethane is the most popular product in the market. Other major segments include mixed textiles fibers, fiberglass, polyester fiber, NBR, polypropylene, PVC, textile materials (synthetic) and textile materials (cotton).
• Based on vehicle types, the market has been divided into passenger vehicles, LCV and HCV. Amongst these, passenger vehicles represent the biggest segment, accounting for the largest market share.
• On the basis of applications, the market has been categorized into trunk module, floor module, wheel arches, cockpit module, roof module, engine casing and bonnet liners. Currently, automotive NVH materials are mostly used in trunk modules which dominate the total market share.
• On the geographical front, Asia Pacific leads the market. Other major regions include North America, Europe, Middle East and Africa, and Latin America.
• The competitive landscape of the market has also been examined. Some of the key players operating in the market include BASF SE, The DOW Chemical Company, ExxonMobil, 3M Company, Sumitomo Riko Company Limited, Mitsui Chemicals, Inc., Celanese Corporation, Covestro AG, Huntsman Corporation, Lanxess AG and Borgers AG.

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