Automotive Acoustic Materials Market Projected to reach $3.5 billion by 2027

The report "Automotive Acoustic Materials Market by Type (ABS, Fiberglass, PP, PU, PVC & Textile), Component (Arch Liner, Dash, Fender & Floor Insulator, Door, Head & Bonnet Liner, Engine Cover, Trunk Trim, Parcel Tray), ICE & EV, and Region - Forecast to 2027", is projected to grow to USD 3.5 billion by 2027 from USD 2.4 billion in 2019, at a CAGR of 4.79%. The introduction of enhanced comfort and safety features is driving the acoustic materials market at a global level. Also, government regulations pertaining to vehicle noise for passenger cars and commercial vehicles would compel OEMs to increase the use of acoustic materials, which would further drive the market for automotive acoustic materials.

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"Polyurethane and Polypropylene to be the largest segments, by material type."

Polyurethane and polypropylene are increasingly gaining importance in the automotive acoustic materials market. Polyurethane and polypropylene materials are thus projected to lead the automotive acoustic materials market, by material type. According to secondary sources, polyurethane is porous and cracks when exposed to sunlight. Hence, it is used mostly in the interior of the vehicle and polypropylene has higher density and shock absorbing capacity, and therefore, it is used mostly for components in the exterior of the vehicle. The demand for nonwoven materials such as polyurethane and polypropylene is expected to increase in the future because of several benefits such as reduced weight, versatility, better sound absorption, improved aesthetics, and cost-effective features which are lagging in conventional materials.

"Interior to be the fastest growing market for automotive acoustic materials, by application."

The interior cabin is one of the important applications that ultimately defines vehicle comfort. The noise coming from the powertrain system and other sources such as wind, road, and tires are the primary concerns for vehicle manufacturers. OEMs, component manufacturers, and material providers are jointly working to develop improved cabin interiors with better acoustical aspects. Various developments with respect to vehicle designs have been undertaken by OEMs. The components that absorb the unwanted sound from vehicles are headliner, floor insulators, inner dash, and door trim. Additionally, the cabin rear trim is also used in the interior application in light and heavy commercial vehicles.

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"Asia Oceania to be the largest market for automotive acoustic materials, followed by Europe."

The Asia Oceania region has emerged as the largest market for acoustic materials. Asia Oceania accounted for the largest global vehicle production in 2018. The region is estimated to be the largest market for automotive acoustic materials, by volume as well as value. The huge vehicle production in the region offers a tremendous growth opportunity for the acoustic materials market. China is the largest producer of vehicles in the region. Favorable investment policies coupled with the availability of cheap labor have made Asia Oceania an ideal market for automotive OEMs and acoustic material manufacturers and suppliers. The region has a higher growth potential than matured markets such as North America and Europe.

Key Market Players:

The automotive acoustic materials market is dominated by global players and comprises several regional players as well. The key players in the automotive acoustic materials market are Dow Chemical (US), BASF (Germany), 3M (US), Covestro (Germany), Henkel (Germany), LyondellBasell (US) and Sumitomo Riko (Japan).

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