The “Automotive NVH Materials Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Automotive NVH Materials Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
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.
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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.
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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
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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
What is the goal of the report?
? The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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