Automotive NVH Materials Market Overview, Opportunities, Challenges and Future Prospects by 2023
by Deepak Kumar Sr. SEO Executive
The Automotive NVH Materials Market growth is mainly driven by growing demand of automobiles worldwide and increasing concerns regarding reduction in fuel consumption and emission.On the basis of type, the automotive NVH materials market is categorized into rubber, cork, felt, metal sheet, polyvinyl chloride (PVC), foam, and others (fiberglass and resins). The increase in production capacity by key rubber manufacturers is driving the growth of the market across the globe.
In terms of application, the automotive NVH materials market is segmented into sound absorption, insulation, and vibration damping. During the forecast period, the demand for NVH materials is expected to witness the highest growth for sound absorption applications.
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Based on vehicle type, the automotive NVH materials market is segmented into passenger vehicle, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). Passenger vehicles has been the largest category in the market so far.
Globally, APAC has been the largest automotive NVH materials market, attributed to the high production capacity of automobile manufacturers in the region. Additionally, the sales of NVH materials in the region are expected to advance at a CAGR of 7.5% during the forecast period, attributed to the low production and labor cost in the region.
Some of the major players operating in the global automotive NVH materials market are DowDuPont Inc., Exxon Mobil Corporation, Sumitomo Chemical Company Limited, Huntsman Corporation, Lanxess AG, Covestro AG, 3M Company, BASF SE, Mitsui Chemicals Inc., and Borgers SE & Co. KGaA.
GLOBAL AUTOMOTIVE NVH MATERIALS MARKET SEGMENTATION
By Vehicle Type
Created on Feb 1st 2019 00:25. Viewed 194 times.