Chemicals and Advanced Materials

Automotive NVH Materials Market Analysis by Product (Polyurethane, Polypropylene, Polyvinyl Chloride, Textile Materials, Fiber Glasses, and Others); by Application (Absorption, Insulation, and Damping); and by Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 4495 | Published On: Feb 01, 2023

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • Celanese Corporation has decided to acquire a majority of DUPONT’S mobility and material business. The company will purchase a broad portfolio of engineered thermoplastics and elastomers, industry-renowned brands and intellectual property, global production assets, and a world-class organization.

  • Covestro AG along with SOL Kohlensäure has signed an agreement for biogenic carbon dioxide (CO₂). This partnership is expected to help the company to switch to alternative raw materials.


Global Automotive NVH Materials Market Definition

Automotive NVH (noise, vibration, and harshness) materials are used to change the vibration and noise characteristics of cars, especially in transportation and vehicles. Different engine accessories, such as control wheels, cooling fans, floors, and pedals, all transmit vibration or noise, which is reduced by absorption or the use of barrier materials. The interest in automotive NVH materials is based on the evolution of the automobile industry and relies on pleasant learning experiences. The manufacturers are now concentrating on evaluating and creating new models with higher NVH levels during the design and development of any new electric car.

NVH materials are used to control airborne and structure-borne noises as well as noise produced by the internal components of the vehicles. These materials comprise molded rubbers, molded foams, metal and film laminates, and engineering resins. The demand for NVH materials has increased recently since they minimize discomfort and enhance vehicle performance by absorbing noise and preventing it from infiltrating the vehicle. Since the development cycles in the automobile sector are constantly growing in order to satisfy the needs for NVH materials, comprehensive NVH assessment is becoming increasingly vital.

NVH testing can support overcoming vehicle failings in overall comfort and performance while driving. Better-performing vehicles produce less noise and vibration and are more comfortable and pleasant to drive. This contributes to less weariness while driving long distances. However, noise control is more than just designing cars quieter for a more peaceful journey; as it is also about optimizing the infotainment experience. Cars are rapidly becoming an extension of our homes and offices, with an increased emphasis on in-car technology and communication. This increases the importance of synchronizing the entire in-car experience with these areas.


Global Automotive NVH Materials Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~5%

Base Year Market Size (2022)

~ USD 11 Billion

Forecast Year Market Size (2033)

~ USD 17 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


Global Automotive NVH Materials Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global automotive NVH materials market is estimated to garner a revenue of ~USD 17 Billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market garnered a revenue of ~USD 11 Billion in the year 2022. The growth of the market can be attributed to the rapid growth in the automotive industry worldwide. For instance, the global automotive industry is expected to reach approximately USD 9 trillion by 2030. Further, the significantly rising production and use of heavy commercial vehicles is another key factor that is anticipated to fuel the market growth during the projected time frame.

Automotive-NVH-Materials-Market-overview

In addition to these, factors that are believed to fuel the market growth of automotive NVH materials include the rising demand for these materials on the back of their outstanding properties including lightweight and comprising exceptional diesel, water, and oil resistance. Besides this, the increasing demand for hybrid and fuel-efficient vehicles is another major factor to drive the market expansion over the forecast period. For instance, approximately 280,500 hybrid and plug-in hybrid electric vehicles were sold in the United States between April and June 2022. Noise, vibration, and harshness in automobiles, especially in light vehicles, caused by structure-borne and air-borne noises, can be uncomfortable for passengers and reduce vehicle durability. Thus, the use of NVH reduction materials in vehicles assists in the elimination of such noises and the enhancement of ride quality. Moreover, with rapid urbanization, the demand for vehicles has increased considerably, which is also projected to boost the market growth over the projected time frame.


Automotive-NVH-Materials-Market-overview
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Global Automotive NVH Materials Market: Growth Drivers and Challenges

Growth Drivers

  • Growth in Production of Heavy Vehicles – Heavy vehicles are being extensively produced owing to their benefits in transportation, driving for long kilometers, and many more. However, owing to its sturdy nature, heavy raw materials, and sturdy components, generate the need for automotive NVH materials for enhanced road performance. Thus, the increased production of heavy vehicles is expected to increase the utilization rate of global automotive NVH materials market in the forecast period. The latest report published in 2022 stated that the production of medium and heavy vehicles in North America increased by almost 5% over 2021.

  • Increased Demand and Production of Vehicles – A surge in urbanization and increasing middle-class income resulted in an increased demand for vehicles that positively influenced the production of vehicles too. The latest reports released by the Organization of Motor Vehicle Manufacturers (OICA) stated that the global production of vehicles reached around 80 million units in 2021. That denotes a considerable rise from the year 2020, with 77 million vehicles.

  • High Manufacturing Rate of Sports Cars – NVH materials are used extensively in luxury and sports cars, as required by the manufacturers. Therefore, the surging production of sports cars is another major factor that is anticipated to boost the global automotive NVH materials market over the forecast period. For instance, as per estimations, sports car sales are anticipated to reach more than 1,000.0K vehicles in the year 2027 across the globe.

  • Growing Sales and Production of Electric Vehicles – For instance, in 2021, one out of every ten automobiles sold was an electric vehicle. Currently, there are more than 16 million electric vehicles on the road across the globe.

  • Population Explosion with Middle Income - World Bank calculated the total population with middle income in the world to rose from 5.51 Billion in 2015 to 5.86 Billion in 2021.

Challenges

  • Stringent Government Rules Regarding Carbon Dioxide EmissionAn increased ratio of carbon emission has made the government of nations to impose strict regulations to lower it. Thus, several governments have taken steps by making rules to decrease carbon footprints. For instance, for model years 2023–2026 of passenger automobiles and light trucks, the Environmental Protection Agency of the U.S. (EPA) finalized new national greenhouse gas (GHG) emissions regulations in December 2021. The final guidelines would result in significant reductions in GHG emissions as well as other criterion pollutants.
  • Installation of Active Noise Cancellation Systems
  • Increase in Overall Vehicle Weight


Market Segmentation

The global automotive NVH materials market is segmented and analyzed for demand and supply by vehicle type into passenger cars, light commercial vehicles, heavy commercial vehicles, and others. Out of these segments, the passenger cars segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing sale, coupled with the surging production of passenger cars across the globe. According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2021, 49 million new passenger cars were sold and 57 million passenger cars were produced throughout the world. Moreover, rising living standards in emerging nations, along with rapid urbanization is another significant factor that is projected to propel the market growth throughout the forecast period.

The global automotive NVH materials market is also segmented and analyzed for demand and supply by application into absorption, insulation, and damping. Amongst these three segments, the absorption segment is expected to garner a significant share on the back of increasing utilization of acoustic absorption materials in the production of vehicles to minimize the transmission of noise. On the other hand, the insulation segment is projected to witness a notable growth rate during the forecast period, owing to the rising demand for insulation in NVH solutions.

Our in-depth analysis of the global automotive NVH materials market includes the following segments:

               By Product

  • Polyurethane
  • Polypropylene
  • Polyvinyl Chloride
  • Textile Materials
  • Fiber Glasses
  • Others

               By Application

  • Absorption
  • Insulation
  • Damping

              By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Others

Global Automotive NVH Materials Market Regional Synopsis

The Asia Pacific automotive NVH materials market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the increased production and sales of automobiles, owing to the high demand for vehicles among the Asia-pacific population is anticipated to expand the automotive NVH materials market size. As per statistics released by the International Organization of Motor Vehicles, the total production of vehicles in the Asia Pacific expanded from the year 2020 with 44,276,549 units to 46,732,785 units in 2021. Similarly, the total sales in the region topped nearly 43,672,758 units in 2021, an upsurge from 40,322,544 in 2020. Further, the presence of major key players and leading exporters and importers of vehicles in the region is also expected to offer prominent opportunities for market growth in the forecast period. For instance, in 2021, China exported around 400,000 commercial vehicles and 2 million passenger vehicles.

Furthermore, the North America automotive NVH materials market is projected to display notable growth over the forecast period owing to the continuously surging automobile sector, coupled with increased production of vehicles in the region. For instance, in 2021, around 10 million vehicles were produced in the United States. In addition to this, the massive adoption of electric vehicles is another key factor that is anticipated to boost the market growth further throughout the forecast period in the region.

Automotive-NVH-Materials-Market-regional


Automotive-NVH-Materials-Market-regional
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Top Featured Companies Dominating the Global Automotive NVH Materials Market

    • The Dow Chemical Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Covestro AG
    • Sumitomo Riko Company Limited
    • Henkel AG & Co. KGaA
    • Celanese Corporation
    • Exxon Mobil Corporation
    • 3M
    • NVH KOREA INC.
    • Huntsman International LLC
    • Solvay SA

     


Key Questions Answered in the Report

1) What are the major factors driving the growth of the automotive NVH materials market?

Ans: Growth in production of heavy vehicles, increased demand and production of vehicles, and high manufacturing rate of sports cars are the major factors driving the market growth.

2) What would be the CAGR of automotive NVH materials market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the automotive NVH materials market growth?

Ans: Stringent government rules regarding carbon dioxide emission, installation of active noise cancellation systems, and increase in overall vehicle weight are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of automotive NVH materials market in future?

Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the automotive NVH materials market?

Ans: The major players in the market are The Dow Chemical Company, Covestro AG, Sumitomo Riko Company Limited, Henkel AG & Co. KGaA, Celanese Corporation, Exxon Mobil Corporation, NVH KOREA INC., 3M, Solvay SA, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the automotive NVH materials market?

Ans: The market is segmented by product, application, vehicle type, and by region.

8) Which segment captures the largest market size in vehicle type in the automotive NVH materials market?

Ans: The passenger cars segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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