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Automotive Acoustic Materials: A Leading Driver Behind Surging Electric Vehicle Sales Drive Growth In The Automotive Acoustic Materials Market Market Expansion in 2025
Automotive Acoustic Materials
What Will the Automotive Acoustic Materials Industry Market Size Be by 2025?
There has been considerable growth in the size of the automotive acoustic materials market in the past few years. Its projected growth is from $3.71 billion in 2024, escalating to $3.95 billion in 2025, following a Compound Annual Growth Rate (CAGR) of 6.4%. Several factors have contributed to this expansion in the historic period, including regulatory adherence, targets for emission reduction, rising urbanization, and customer comfort and expectations, along with the surge in electric and hybrid vehicles.
What's the Long-Term Growth Forecast for the Automotive Acoustic Materials Market Size Through 2029?
The market size of automotive acoustic materials is predicted to experience robust expansion in the coming years, reaching a value of $5.19 billion in 2029, growing at a Compound Annual Growth Rate (CAGR) of 7.1%. The growth during this forecast period can be ascribed to factors such as the increasing number of autonomous vehicles, customization of vehicle interiors, environmental considerations, development in infrastructural projects, and upsurge in economies. The forecast period will also witness significant trends such as solutions specifically tailored for electric vehicles, innovative noise-cancellation technologies, bespoke interior acoustics, augmented reality audio, and intelligent materials and sensors.
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What Are the Key Growth Drivers Fueling the Automotive Acoustic Materials Market Expansion?
The ascension in the purchase of electric vehicles is anticipated to fuel the expansion of the automotive acoustic materials market in the future. These are vehicles that run entirely or partially on electricity. The function of automotive acoustic materials is to decrease the noise inside an electric vehicle by providing soundproofing and sound-absorption solutions. For instance, Kelley Blue Book, a Cox Automotive company in the US, published a report in January 2024, revealing that a record-breaking sale of 1.2 million electric vehicles took place in the United States in 2023, which represented 7.6% of the entire U.S. vehicle market, an increase from 5.9% in 2022. Thus, the escalating sales of electric vehicles are instrumental in the growth of the automotive acoustic materials market.
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What Are the Key Trends Driving Automotive Acoustic Materials Market Growth?
Innovations in technology are seeing a noticeable uptick in the automotive acoustic materials market, acting as a primary trend. Premiere companies in this industry are implementing advanced technological solutions, among them Flexi-Loft, a unique felt technology that aids in minimizing the weight of the product, to maintain their market prominence. For example, Digital Metal, a Swedish metal additive manufacturing company, unveiled the DMP/PRO binder jet 3D printer in May 2022. This system employs binder jetting technology to methodically generate high-precision, complicated metal parts layer upon layer. A binder agent is carefully introduced into a power bed, resulting in the creation of complex geometries and components applicable in sectors such as automotive, aerospace, and medical. The printer is engineered for high throughput and scalability, hence, it's perfectly suitable for both prototype creation and large-scale production cycles.
How Is the Automotive Acoustic Materials Market Segmented?
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
Subsegments:
1) By Acrylonitrile Butadiene Styrene (ABS): ABS Sheets, ABS Foam
2) By Fiberglass: Fiberglass Mats, Fiberglass Panels
3) By Polyvinyl Chloride (PVC): Rigid PVC Sheets, Flexible PVC Sheets
4) By Polyurethane (PU) Foam: Rigid PU Foam, Flexible PU Foam
5) By Polypropylene: Polypropylene Sheets, Polypropylene Foam
6) By Textiles: Non-woven Textiles, Woven Textiles, Composite Textiles
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Which Companies Are Leading the Charge in Automotive Acoustic Materials Market Innovation?
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
Which Regions Are Leading the Global Automotive Acoustic Materials Market in Revenue?
Asia-Pacific was the largest region in the automotive acoustic materials market share in 2024. 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.
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