PUNE, India, March 23, 2017 /PRNewswire/ --
The report "Automotive NVH Materials Market by Type (Rubbers, Thermoplastic Polymers, Engineering Resins), Application (Absorption, Insulation), Vehicle Type (Passenger Vehicles, LCV, HCV) - Global Forecast to 2021", published by MarketsandMarkets, the global market is projected to reach USD 13.52 Billion by 2021, at a CAGR of 6.0% from 2016 to 2021.
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Browse 91 market Data tables and 53 Figures spread through 143 Pages and in-depth TOC on "Automotive NVH Materials Market"
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The global demand for automotive NVH materials, especially in regions such as Asia-Pacific, Europe, and North America, is growing. This growth is fueled by the high demand for automotive NVH materials from the automotive industry. Government regulations stipulating the manufacture of safer & quieter automobiles also have a positive impact on the market. Automotive NVH materials enhance the overall ride comfort and driveability of vehicles. Besides, the vehicle buying decision of customers is also increasingly influenced by the NVH levels.
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Rubbers are the most preferred type of automotive NVH materials
Rubbers are the most extensively used type of automotive NVH materials. The rubbers segment consists of nitrile butadiene rubber (NBR), ethylene propylene diene monomer (EPDM), and other rubbers. The wide use of rubbers as automotive NVH materials is owing to their exceptional properties, such as vibration damping and noise insulation in automotive applications. High temperature stability, fluid resistance, and low cost make rubbers the most preferred type of automotive NVH materials.
The absorption application segment is projected to lead the Automotive NVH Materials Market
Based on application, the absorption segment is projected to lead the Automotive NVH Materials Market from 2016 to 2021. The demand for noise & vibration absorption was the highest in 2015. Noise and vibration absorbing materials are manufactured using various thermoplastic polymers, engineering resins, and rubbers. Rubbers are the most commonly used material for absorbing vibrations and controlling harshness in automobiles. The use of sound and vibration absorbing materials has been significantly increased by automotive manufacturers to provide enhanced customer satisfaction and comfort. This, in turn, is expected to propel the growth of the Automotive NVH Materials Market.
Asia-Pacific is expected to lead the Automotive NVH Materials Market during the forecast period
Asia-Pacific is the largest market for automotive NVH materials, in terms of value, and is expected to lead the global Automotive NVH Materials Market during the forecast period. Countries in this region, such as China and India, are witnessing a significant increase in the use of automotive NVH materials in the passenger vehicles segment. The market's growth in this region can be attributed to the increasing automotive industry, which is driving the demand for automotive NVH materials. In North America, the U.S. is the largest market for automotive NVH materials and this dominance is projected to continue during the forecast period.
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The Automotive NVH Materials Market has considerable players competing for significant market shares. These companies are actively adopting various strategies, such as new product development, acquisitions, and joint ventures, to increase their market shares. Major manufacturers, including the Dow Chemical Company (U.S.) and Sumitomo Riko Company Limited (Japan), have adopted various organic and inorganic growth strategies to expand their business.
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