The global automotive NVH materials market size was US$ 9.1 billion in 2021. The global automotive NVH materials market is forecast to grow to US$ 21.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.
NVH or Harshness with Noise Vibration materials finds applications across the automotive industry. These materials are primarily used to regulate the NVH performance of any vehicle. In addition to that, they are also used to regulate airborne noise and structure-borne noise.
Factors Influencing the Market
The demand for passenger vehicles is growing across various developing countries. Thus, it will primarily fuel the growth of the global automotive NVH materials market. Further, increasing focus on the production of lightweight vehicles will also contribute to the growth of the global automotive NVH materials market during the study period.
Increasing disposable income and changing lifestyles will also benefit the automotive NVH materials market. Further, rapid urbanization and growing demand for eco-friendly and comfortable drives at low cost will surge the growth of the automotive NVH materials market.
Favorable government policies and rising vehicle production will also boost the growth of the automotive NVH materials market. In addition, the growing range of technological advancements, such as advanced safety features, comfort, etc., will escalate the demand for automotive NVH materials during the study period. On the contrary, the presence of efficient alternative technologies may limit the growth of the automotive NVH materials market.
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, travel activities were banned across various countries. As a result, the demand for vehicles decreased at a substantial rate, which hampered the growth of the automotive NVH materials market. Further, the impact on purchasing power and import-export restrictions created various challenges for the market, which in turn, impeded manufacturing across various COVID-19 affected countries.
Regional Analysis
The Asia-Pacific automotive NVH materials market is forecast to emerge as the largest market in terms of region. It is owing to the presence of various renowned automotive manufacturers in the region, which is driving the growth of the automotive NVH materials industry. Furthermore, the strong economic growth of countries like India, China, and Indonesia will also contribute to the growth of the automotive NVH materials market.
The rapidly rising population and increasing living standards of the people will also benefit the market in the coming years. In addition to that, North America is forecast to register a substantial growth rate due to the implementation of strict regulations on the fuel efficiency of vehicles.
Competitors in the Market
BASF SE
3M Company
BRC Rubber & Plastics Inc
Dow chemical company
ElringKlinger AG
Huntsman corporation
Sumitomo Riko Co. Ltd
Unique Fabricating Inc
W. KOPP GmbH & Co. KG
Wolverine Advanced Materials
Other Prominent Players
Market Segmentation
The global automotive NVH materials market segmentation focuses on Type, Application, Vehicle, and Region.
By Type:
Rubber
Foam
PVC
Metal Sheet
Cork
Felt
Others
By Application:
Sound Absorption
Insulation
Vibration Damping
By Vehicle Type:
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
By Region
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America