The global automotive acoustic materials market, by value, is projected to grow to USD 3.5 billion by 2027 from USD 2.4 billion in 2019, at a CAGR of 4.79%
NEW YORK, May 14, 2019 /PRNewswire/ -- Introduction of enhanced comfort and safety features in automobiles
The global automotive acoustic materials market, by value, is projected to grow to USD 3.5 billion by 2027 from USD 2.4 billion in 2019, at a CAGR of 4.79%. Improvement in current safety and comfort features in automobiles would accelerate the growth of the acoustic materials market. The fluctuating raw material prices of acoustic materials will result in restraining the automotive acoustic materials market.
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Engine encapsulation to be the fastest growing acoustic materials market, by component
Engine encapsulation is projected to be the fastest growing segment in the automotive acoustic materials market, by component.OEMs are planning to be more customer-centric in terms of services.
The growing number of car buyers are looking for a quieter interior cabin.To counter this, OEMs, component manufacturers, and material providers are jointly working to develop improved components with better acoustics.
Engine encapsulation improves vehicle acoustics while lowering interior and exterior noise generation from the vehicle.The designs of engine encapsulation are made such that ideal acoustic and thermal management in the vehicle can be realized.
Engine encapsulation system insulates and prevents batteries from cooling too rapidly while not in operation. On the other hand, it retains thermal energy in the battery so that it returns to its ideal condition more quickly upon reuse. Automotive engine encapsulation is done by materials such as polypropylene, polyurethane, polyamide, glass wool, and carbon fiber. Hence, engine encapsulation is projected to be the fastest growing acoustic materials market.
Polyurethane to be the largest segment for acoustic materials market, by material type
Polyurethane is the most widely used technology in acoustic materials.Moreover, this material is very effective in terms of noise absorption and superior to other traditional acoustic materials such as textiles.
Most OEMs in developed and developing countries are nonwoven materials because of their proven efficiency.As per industry insights, polyurethane is expected to continue dominating the overall market, followed by polypropylene and fiberglass.
Hence, polyurethane is the largest segment and will continue to be the highest contributor to the acoustic materials market.
Asia Oceania is estimated to be the largest market for acoustic materials, by region
Market growth of the Asia Oceania region is driven by the dominating acoustic materials market in China.In recent years, the region has seen the highest acoustic material manufacturing growth.
The Asia Oceania region is projected to be the largest market capturing 50.15% of the total market share. Strong economic growth, increasing focus on automobiles, developments related to acoustic materials, and government regulations pertaining to vehicle noise have triggered the demand for acoustic materials in the region. BASF (Germany), 3M (US), and DoW Chemical (US) are the leading acoustic material players in the region. According to MarketsandMarkets analysis, majority of the Asia Oceania acoustic materials market is driven by China. This trend is expected to continue in years to come. Owing to the abovementioned factors, Asia Oceania is estimated to be the largest market for acoustic materials, by region.
Breakup of primary respondents
-- By Company Type: Tier I - 30%, Tier II - 40%, and OEMs -30%
-- By Designation: C level - 40%, D level - 30%, Others - 30%
-- By Region: Europe - 30%, North America - 20%, Asia Oceania - 40%, RoW - 10%
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), and LyondellBasell (US).
The study includes an in-depth competitive analysis of these key players in the automotive acoustic materials market with their company profiles, SWOT analysis of the top 5 companies, recent developments, and key market strategies.
Research Coverage
The study segments the automotive acoustic materials market by application (underbody & engine bay, interior cabin, exterior, and trunk panel); material Type (acrylonitrile butadiene styrene, fiberglass, polyvinyl chloride, polyurethane foam, polypropylene, and textiles); component (hood liner/bonnet liner, engine top covers, fender insulator ,door trims, headliners, floor insulator, wheel arch liners, trunk trim, inner dash, outer dash, parcel tray, cabin rear trim, and engine encapsulation); electric vehicle type (BEV, HEV, and PHEV); vehicle type (passenger car, LCV, and HCV); and region [Asia Oceania (China, India, Japan, South Korea, Thailand, and Rest of Asia Oceania), Europe (France, Germany, Russia, Spain, Turkey, the UK, and Rest of Europe), North America (Canada, Mexico, and The US), RoW (Brazil, Iran, and Rest of RoW)].
Key Benefits of Buying the Report:
This report provides insights with reference to the following points:
Country-level market by material type: The report offers in-depth market sizing and forecasts up to 2027, by material type (acrylonitrile butadiene styrene, fiberglass, polyvinyl chloride, polyurethane foam, polypropylene, and textiles). The market sizing for automotive acoustic materials is covered at the country and regional levels considered in this study.
The report provides "Market Share" of the leading players in the automotive acoustic materials market.
Market Development: The report provides comprehensive information about lucrative emerging markets for automotive acoustic materials across different regions.
Product Development/Innovation: The report gives detailed insights into R&D activities, upcoming technologies, and new product launches in the automotive acoustic materials market.
Market Diversification: The report offers detailed information about untapped markets, investments, new products, and recent developments in the automotive acoustic materials market.
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