LANXESS, Covestro AG, 3M, BASF, DowDuPont, ExxonMobil, Sumitomo Chemical, Huntsman Corporation, Borgers Ohio, Inc. & Mitsui Chemicals America, Inc are the Major Key Players in the Automotive NVH Materials Market by 2023

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.

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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.

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.

With the increase in demand for lightweight vehicles, the demand for NVH materials also increases as these materials reduce the weight of automobiles and provide sound absorption and vibration dampening effects. NVH materials are also capable of reducing fuel consumption and carbon gas emissions. This has resulted in an increase in adoption of NVH materials by key players.

Europe has been recording the third largest revenue in the automotive NVH materials market. The market growth in the region is driven by high production of vehicles and the presence of a well-established automotive industry; for instance, as per the European Commission, the automotive industry accounts for 4% of the region’s GDP.

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.

GLOBAL AUTOMOTIVE NVH MATERIALS MARKET SEGMENTATION

By Type

• Rubber
• Foam
• PVC
• Metal Sheet
• Cork
• Felt
• Others

By Application

• Sound Absorption
• Insulation
• Vibration Damping

By Vehicle Type

• Passenger Vehicles
• LCV
• HCV

By Region

• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
• APAC
o China
o India
o Japan
o South Korea
o Australia
o Rest of APAC
• Latin America (LATAM)
o Brazil
o Mexico
o Rest of LATAM
• Middle-East and Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA

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