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The automotive NVH materials market share is expected to increase by USD 5.6 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.66%.
This automotive NVH materials market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive NVH materials market segmentation by application (floor module, cockpit module, trunk module, wheel arches, and others), material (polyurethane, mixed textile fibers, fiberglass, and others), and geography (Europe, APAC, North America, South America, and Middle East and Africa). The automotive NVH materials market report also offers information on several market vendors, including 3M Corp., Avon Group Manufacturing Ltd., BASF SE, Borealis AG, Borgers SE and Co. KGaA, Celanese Corp., Covestro AG, Eagle Industries Inc., Eastman Chemical Co., Exxon Mobil Corp., Huntsman Corp., Hutchinson SA, ITT Inc., LANXESS AG, Material Sciences Corp., Mitsui Chemicals Inc., Nitto Denko Corp., The Dow Chemical Co., Evonik Industries AG, and Henkel AG and Co. KGaA among others.
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The growing demand for passenger vehicles is notably driving the automotive NVH materials market growth, although factors such as fluctuations in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive NVH materials industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive NVH Materials Market Driver
One of the key factors driving growth in the automotive NVH materials market is the growing demand for passenger vehicles. The automotive industry is growing with the increasing sales of passenger and light commercial vehicles (LCVs) worldwide. Since, consumers mainly focus on the layout, comfort, technology and audio experience, along with the overall vehicle performance, the NVH materials offer significant opportunities for automobile manufacturers. Also, factors such as rising per capita income and increasing population worldwide are expected to accelerate automobile production during the next few years. Driven by an improved economic outlook in developed countries such as the US and developing nations like China and India, the global market for passenger vehicles is expected to witness considerable growth. Moreover, the demand for passenger vehicles in APAC is mainly attributable to the expanding middle-class population, rising disposable income, and increasing population of employed individuals.
Key Automotive NVH Materials Market Trend
The growing emphasis on the reduction of NVH levels is an automotive NVH materials market trend that is expected to have a positive impact in the coming years. Modern vehicle designs are ruled and governed by the emerging consumer needs, expectations and changing market dynamics. The consumers have now started giving more weightage to vehicle design, handling, safety, and comfort over fuel economy or cost of maintenance. In addition to the powertrain, safety, and comfort; NVH levels also play a critical role in determining the consumer experience. Factors such as type, quality of material selected, design specifications, process implemented, and wire harnessing play a crucial role in determining the NVH levels. There have been increasing partnerships, and ventures between various stakeholders in the automotive value chain; aiming at reducing the NVH level of the vehicles. Automakers give higher importance to the NVH levels; depending upon the price segment and category of the vehicle. Generally, the pricier the vehicle; the lower will be the NVH levels. Therefore, the presence of such factors is likely to drive the growth of the global automotive NVH materials market.
Key Automotive NVH Materials Market Challenge
The fluctuations in raw material prices will be a major challenge for the automotive NVH materials market during the forecast period. Crude oil is a primary raw material used in the production of NVH materials based on polyurethane, PVC, polypropylene, and other compounds. The fluctuating raw material prices pose a significant challenge to the global automotive NVH materials market, which is expected to impede the market growth during the forecast period. In addition, high prices of raw materials have also prompted a grave concern among the manufacturers of NVH materials. The fluctuations in the crude oil prices are expected to have an adverse impact on the final cost of NVH materials, which will also affect the profit margins of the manufacturers. The key raw materials used to manufacture polyurethane include polyol, TDI, and MDI, and therefore, the fluctuations in their prices will directly influence the cost of polyurethane-based NVH materials. Thus, the increasing prices of these chemicals, owing to their higher raw material prices, is expected to hinder the demand for automotive NVH materials.
This automotive NVH materials market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global automotive NVH materials market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive NVH materials market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive NVH materials market encompasses successful business strategies deployed by the key vendors. The automotive NVH materials market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive NVH materials market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive NVH materials market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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33% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for automotive NVH materials in APAC. Market growth in this region will be faster than the growth of the market in the European, North American, and South American regions.
The presence of a well-established automotive industry and the high production of vehicles will facilitate the automotive NVH materials market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 is expected to slow down the growth of the market during the forecast period. This is mainly due to the decline in the production and sales of passenger cars in Europe in 2020. Government initiatives such as the initiation of large-scale vaccination drives and the implementation of strict measures like social distancing and frequent hand wash led to a decrease in the number of COVID-19 cases in the region. This resulted in the lifting of lockdowns and the resumption of economic activities in Q4 2020, which further led to an increase in the sales of EVs by 22% and 2.27 million in 2021.
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The automotive NVH materials market share growth by the floor module segment will be significant during the forecast period. Polyurethanes are versatile polymers that are used in a comprehensive range of end-use applications in the automotive industry. Polyurethanes-based NVH materials are widely used as acoustic cavity sealers in carpets, seats, headliners, and dash mats to minimize the noise in the passenger compartment caused by wind, exhaust, engine, and tires. Therefore, a considerable increase in the development of polyurethane-based new products is expected to accelerate the demand for polyurethane-based NVH materials, which will enable the polyurethane segment to grow at a relatively higher rate as compared to other segments.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive NVH materials market size and actionable market insights on post COVID-19 impact on each segment.
Automotive NVH Materials Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.66% |
Market growth 2022-2026 |
$ 5.6 billion |
Market structure |
Fragmented |
YoY growth (%) |
9.83 |
Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 33% |
Key consumer countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3M Corp., Avon Group Manufacturing Ltd., BASF SE, Borealis AG, Borgers SE and Co. KGaA, Celanese Corp., Covestro AG, Eagle Industries Inc., Eastman Chemical Co., Exxon Mobil Corp., Huntsman Corp., Hutchinson SA, ITT Inc., LANXESS AG, Material Sciences Corp., Mitsui Chemicals Inc., Nitto Denko Corp., The Dow Chemical Co., Evonik Industries AG, and Henkel AG and Co. KGaA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by Material
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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