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Automotive Acoustic Materials Global Market Report 2024 by The Business Research Company | Dow Chemical Company, 3M Acoustic Solutions, BASF SE, Covestro AG, Henkel Adhesives Technologies India Private Limited, LyondellBasell Industries Holdings B.V.,
Automotive Acoustic Materials Market Trends And Strategies
The automotive acoustic materials market size is expected to see strong growth in the next few years. It will grow to $4.96 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to rising autonomous vehicles, interior vehicle customization, environmental concerns, rising infrastructure projects, emerging growth in economies. Major trends in the forecast period include electric vehicle specific solutions, advanced soundproofing technologies, customized interior acoustics, augmented reality audio, smart materials and sensors.
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Automotive Acoustic Materials Market Major Segments
The automotive acoustic materials market covered in this report is segmented -
1) By Material Type: Acrylonitrile Butadiene Styrene (ABS), Fiberglass, Polyvinyl Chloride (PVC), Polyurethane (PU) Foam, Polypropylene, Textiles
2) By Component: Arch Liner, Dash, Fender and Floor Insulator, Door, Head & Bonnet Liner, Engine Cover, Trunk Trim, Parcel Tray, Other Components
3) By Vehicle Type: Passenger Cars, LCV, HCV
4) By Application: Underbody and Engine Bay Acoustics, Interior Cabin Acoustics, Exterior Acoustics, Trunk Panel Acoustics
Key Driver - Surging Electric Vehicle Sales Drive Growth In The Automotive Acoustic Materials Market
The increase in sales of electric vehicles is expected to propel the growth of the automotive acoustic materials market going forward. Electric vehicles are vehicles that use electricity either entirely or in part. Automotive acoustic materials help electronic vehicles to reduce interior vehicle noise, by soundproofing and sound absorbing. According to the International Energy Agency (IEA) report in 2021, a France-based autonomous intergovernmental organization for energy, two-thirds of new electric car registrations and two-thirds of the stock in 2020 were battery electric vehicles (BEVs). Additionally, China has the greatest fleet size of electric vehicles with 4.5 million units and Europe experienced the largest annual growth, rising to 3.2 million in the year 2020. Therefore, the rising sales of electric vehicles are driving the growth of the automotive acoustic materials market.
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Prominent Trend - Technological Advancements Drive Innovation In The Automotive Acoustic Materials Market
Technological advancements are the key trend gaining popularity in the automotive acoustic materials market. Major companies operating in the automotive acoustic materials market are introducing new technologies such as Flexi-Loft, a new felt-based technology that reduces product weight to sustain their position in the automotive acoustic materials market. For instance, in November 2021, Autoneum, a Switzerland-based developer of multifunctional, lightweight components and systems for interior floor and engine bay launched Flexi-Loft for vehicle interiors. This felt-based technology helps make a unique blend of recycled cotton and functional fibers reduces product weight and allows for accurate adaptation even to complex shapes. The textile material provides a versatile and more sustainable alternative to foam.
Automotive Acoustic Materials Market Players
Major companies operating in the automotive acoustic materials market include Dow Chemical Company, 3M Acoustic Solutions, BASF SE, Covestro AG, Henkel Adhesives Technologies India Private Limited, LyondellBasell Industries Holdings B.V., Sumitomo Riko Co. Ltd., Sika AG, Rockwool A/S, Huntsman International LLC, Johns Manville, Saint-Gobain Ecophon AB, Harman International, Thomas Publishing Company, UFP Technologies Inc., Nihon Tokushu Toryo Co. Ltd., Knauf Insulation Ltd., Owens Corning, DuPont Automotive, ThyssenKrupp Automotive AG, Bridgestone Americas Inc., Metaldyne LLC, Detroit Diesel Corp., Alps Automotive Inc., American Showa Inc., Electrolux AB, LG Electroncis Inc., Miele & Cie. KG, Samsung Electronics Co. Ltd., Panasonic Corporation, Koninklijke Philips N.V., Shanghai Energy New Materials Technology Co. Ltd., Sinoma Science & Technology Co. Ltd., Cangzhou Mingzhu Plastic Co., Teijin Limited, Nitto Denko Corporation
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the automotive acoustic materials market share in 2023. The regions covered in the automotive acoustic materials market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Acoustic Materials Market Report Structure
3. Automotive Acoustic Materials Market Trends And Strategies
4. Automotive Acoustic Materials Market - Macro Economic Scenario
5. Automotive Acoustic Materials Market Size And Growth
…..
27. Automotive Acoustic Materials Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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