Press release
Automotive Acoustic Material Market Achieves Staggering Valuation of USD 3.30 Billion in 2022, Envisions Remarkable Growth to USD 4.67 Billion by 2029
Automotive Acoustic Material Market
The Automotive Acoustic Material Market has reached a significant milestone, valued at USD 3.30 Billion in 2022, with projections soaring to USD 4.67 Billion by 2029, marking a notable CAGR of 5.05% during the forecast period of 2023-2029.
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Report Scope:
Our comprehensive report delves into the intricacies of the Automotive Acoustic Material Market, offering profound insights into market dynamics, drivers, restraints, regional outlook, and key industry segments, empowering stakeholders with actionable intelligence.
Research Methodology:
Leveraging a blend of primary and secondary data sources, our research methodology ensures accuracy and reliability. Industry experts contribute to our robust analyses, enabling comprehensive market understanding and strategic decision-making.
Drivers:
Increasing demand for luxury vehicles and stringent government noise laws propel market growth, while consumer preferences for comfortable cabins fuel innovation in automotive acoustic materials.
Restraints:
Challenges such as volatility in raw material prices and concerns regarding bio-based products hinder market expansion, necessitating proactive measures for sustainable growth.
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Regional Insights:
Asia Pacific: Dominates the market, fueled by consistent economic growth, technological advancements, and government regulations promoting automotive noise reduction.
Europe: Emerges as a significant market, driven by rising sales of luxury vehicles and advancements in acoustic engineering.
North America: Presents promising opportunities, driven by increasing demand for luxury automobiles and infrastructure development.
Market Dynamics:
Our report unveils key market dynamics, including the rising demand for luxury vehicles, advancements in acoustic engineering, and government regulations, shaping the trajectory of the Automotive Acoustic Material Market.
Opportunities:
The integration of acoustic materials in construction and automotive sectors presents lucrative opportunities, driven by increasing government regulations and the rise of electric vehicles.
Restraints and Challenges:
Concerns regarding raw material prices and environmental sustainability pose challenges to market growth, necessitating innovative solutions and strategic partnerships.
Industry Development Factors:
Key players' strategies, including partnerships, acquisitions, and new product developments, are analyzed to provide insights into market growth and expansion.
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Market Segment Analysis:
by Vehicle Type
• Passenger Cars
• LCV
• HCV
by Material Type
• Acrylonitrile butadiene styrene (ABS)
• Fiberglass
• Polyvinyl chloride (PVC)
• Polyurethane (PU) foam
• Polypropylene
• Textiles
In terms of Material Type, the Acrylonitrile Butadiene Styrene (ABS) segment is projected to hold a market share of more than 32.4% in 2022. ABS and other engineering thermoplastics are often used and ideal for automotive applications due to their strength and stiffness. It is widely used in the manufacturing of auto body parts and accessories. ABS has an excellent impact resistance and is easy to mold into a variety of forms and sizes.
by Application
• Underbody & engine bay acoustics
• Interior cabin acoustics
• Exterior acoustics
• Trunk panel acoustics
According to application, the interior cabin acoustics segment is projected to have 43.2% of the market share overall in 2022 and is anticipated to develop at the fastest rate of 5.75 percent CAGR throughout the course of the forecast period. The increasing demand for quiet and noiseless car cabins for comfortable driving is the reason behind this rise.
by Components
• Arch Liner
• Dash
• Fender & Floor Insulator
• Door
• Head & Bonnet Liner
• Engine Cover
• Trunk Trim
• Parcel Tray
• Other
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Market Key Players
• Bayer AG (Germany)
• Henkel AG & Co. KGaA (Germany)
• Covestro AG (Germany)
• J. H. Ziegler GmbH (Germany)
• BASF SE (Germany)
• Huntsman International LLC (US)
• Auralex Automotive Acoustics, Inc. (US)
• Johns Manville (US)
• E. I. du Pont de Nemours and Company (US)
• FABRI-TECH COMPONENTS, Inc. (US)
• Thomas Publishing Company. (US)
• Owens Corning (US)
• HARMAN International. (US)
• UFP Technologies, Inc. (US)
• 3M Company (US)
• Soundproof Cow (US)
• Sumitomo Riko Company Limited. (Japan)
• NIHON TOKUSHU TORYO CO.,LTD. (Japan)
• Toray Industries (Japan)
• Tex Tech Industries (India)
• H.S. Engineers (India)
• Alfa Acoustics (India)
• Rockwool International A/S (Denmark)
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