In 2020, the automotive NVH (Noise, Vibration, and Harshness) material market was valued at USD 10.25 billion. It is projected to expand from USD 13.34 billion in 2024 to USD 21.70 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.4% during the 2024-2032 period. According to the report by Fortune Business Insights™ titled “Automotive NVH Material Market, 2024-2032,” the market growth is driven by increasing automotive demand and stringent government regulations aimed at enhancing vehicle safety. Additionally, the rising use of porous materials and growing concerns about noise pollution are expected to further propel the market's expansion.
List of Key Players Present in the Market-
Dow (Midland, Michigan, U.S.)
3M (Minnesota, U.S.)
Huntsman International LLC (Texas, U.S.)
Solvay (Brussels, Belgium)
NITTO DENKO CORPORATION (Osaka, Japan)
NVH KOREA (Ulsan, South Korea)
Exxon Mobil Corporation (Texas, U.S.)
Celanese Corporation (Texas, U.S.)
Henkel Corporation (Düsseldorf, Germany)
Sumitomo Riko Company Limited (Nagoya, Japan)
Borgers SE & Co. KGaA (Bocholt, Germany)
Covestro AG (Leverkusen, Germany)
Segments
On the basis of material, the market can be segmented into classified into rubber, plastic & foam, fibers, and others.
By application, the market can be divided into absorption, damping, and insulation.
In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Report Coverage
The automotive NVH material report discusses a comprehensive analysis of the market and focuses on leading companies, products, and products. Additionally, the study also contains upcoming market trends and highlights vital industry developments that will guide our readers carving insightful business plans. An estimation for the market path is drawn from historical models by encompassing factors at the global, regional, and country levels.
Drivers & Restraints
Stringent Regulations for Curbing Noise Pollution to Bolster Growth
Rising demand towards operational vehicles coupled with stringent regulations imposed by governments to reduce noise pollution will drive the automotive NVH material market growth during the forecast period. Also, expanding electric vehicle industry rising investment opportunities will boost the growth of the market. Additionally, rising consumer awareness regarding significance of regulating noise pollution from automobiles will increase the footprint of the market.
However, increasing interest towards lighter vehicles will limit the growth of the market during the forecast period. Also, technical transition towards alternative technologies and material will hinder the growth of the market.
Information Source: https://www.fortunebusinessinsights.com/automotive-noise-vibration-and-harshness-nvh-materials-market-103629
Regional Insights
Asia Pacific to Hold Largest Market Share Due to Expanding Automotive Industry
Asia Pacific will contribute the largest automotive NVH material market share due to an expanding automobile sector along with rising demand for effective mobility solutions to name a few. Factors such as increasing purchasing power & improving standard of living of middle class will further push the boundaries of the market. Rising demand for improving passenger comfort will boost the growth of the market.
North America will contribute a significant share towards the global contribution due to constantly expanding automotive industry and rising electric vehicle sales.
The European market will retain exceptional growth during the forecast period due to high production standards and rising utilization of automotive NVH materials to name a few.
Competitive Landscape
Novel Product Launches and Mergers & Acquisitions to Help Capture Maximum Market Share
The dominant players in the automotive NVH material market size sector are investing heavily for creating materials that will increase passenger comfort right from the design phase. Primary strategies integrated by leading players is merging and collaborating for creating a varied product line for a larger consumer base. Other players are rushing towards launching novel product launches for capturing maximum revenue. For example, in June 2024, Free Field Technologies and Autoneum collaborated for developing products aimed at assisting OEMs accelerate vehicle acoustic design. The newly developed product will help manage noise and vibration by maximizing the usage of acoustic treatments inside Actran acoustic simulation software.