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Automotive NVH Materials Market Research Report | Industry Analysis, Share, Size and Opportunities Forecast to 2023
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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.
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.
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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.
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