Market Size – USD 1.56 Billion in 2020, Market Growth – CAGR of 4.4%
NEW YORK CITY, NEW YORK, USA, August 15, 2022 /EINPresswire.com/ — The global Automotive Acoustic Materials Market is estimated to reach USD 4.10 Billion by 2028, according to a new report by Reports and Data. Acoustic materials reduce the strength of the mechanical waves, including sound, ultrasound, vibration, and infrasound in several mediums such as liquid, gas, and solid. These materials, along with implementing active acoustics, also improve thermal insulation, driving comfort, and vehicle safety. In automobiles, the bonnet liners, powertrain, and engine encapsulation are made up of acoustic materials to absorb the engine bay noise. Internal combustion engine (ICE) cars need more acoustic materials for enhanced comfort and improved noise cancellation. Thus a rise in the number of passenger cars is anticipated to drive the growth of the market. Noise control engineers extensively use acoustical materials for reduction of Noise Vibration and Harshness (NVH).
However, to select and apply these materials efficiently, which are available in various types commercially, the specific properties of these materials need to be known. Well organized standards exist for such features to be implemented in the industry. Factors such as the initiation of stringent regulatory norms about transportation noise for ICE, electric & hybrid vehicles and growing customer preference for improved cabin comfort and luxury characteristics are anticipated to encourage the growth of this market.
However, the rising usage of used & rental acoustic testing devices, high investment, and fluctuating costs of raw materials are some of the factors that may hinder the market growth in the future.
The Asia Pacific region is anticipated to be the fastest growing market and it accounts for the largest share of 51.3% of the market in 2020. Steady economic growth, rising focus on automobiles, advancements related to acoustic materials, and government regulations about vehicle noise have raised the demand for the market in the region. The largest market share in this region can be attributed to the presence of leading players like 3M (US), BASF (Germany), and Dow Chemical (US).
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Top Profiled in the Automotive Acoustic Materials Market Report:
• BASF SE
• Henkel AG & Co. KGaA
• The Dow Chemical Company
• Covestro AG
• TORAY INDUSTRIES
• Lyondell Basell Industries Holdings B.V
• Huntsman International LLC
• Bayer AG, Owen corning
Component Outlook (Volume, Tons; and Revenue, USD Billion; 2020-2028)
• Engine Encapsulation
• Door Trim
• Arch Liner
• Fender & Floor Insulator
• Trunk Trim
• Parcel Tray
Vehicle Type Outlook (Volume, Tons; and Revenue, USD Billion; 2020-2028)
Type Outlook (Volume, Tons; and Revenue, USD Billion; 2020-2028)
• Polyurethane (PU)
• Polypropylene (PP)
• Polyvinyl Chloride (PVC) & Textile
• Arylonitrile Butadiene Styrene (ABS)
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Key Takeaways of the Automotive Acoustic Materials Market Report:
• A comprehensive overview of the global Automotive Acoustic Materials industry.
• Accurate market projections in terms of market size, share, and volume.
• Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• Deep-dive analysis of the upcoming market trends.
• Qualitative and quantitative analyses of the Automotive Acoustic Materials Market.
• Elaborate study of the leading regional markets in the Automotive Acoustic Materials Market.
• Complete overview of the market’s competitive landscape.
• Brief look at the company profiles and portfolios.
Key Regional Markets Covered in the Report:
• North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• Latin America
o Rest of Latin America
• Middle East & Africa
o Saudi Arabia
o Rest of Middle East & Africa
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