According to a new report published by UnivDatos Markets Insights, the Automotive Acoustic Materials Market is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Material Type (Fiberglass, PVC, Polyurethane, Polypropylene, ABS (Acrylonitrile Butadiene Styrene), and Others); Vehicle Type (Light Commercial Vehicle, Heavy Commercial Vehicle, and Passenger Vehicle); Application (Underbody & engine bay acoustics, Interior cabin acoustics, Exterior acoustics, and Trunk panel acoustics); and Region/Country.
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The automotive acoustic materials market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the automotive acoustic materials market. The automotive acoustic materials market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the automotive acoustic materials market at the global and regional levels.
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Market Overview
Global Automotive Acoustic Materials is expected to grow at a significant rate of around 5% during the forecast period. The automotive acoustic materials market refers to the materials used in the design and production of vehicles to reduce noise and vibration. These materials are used in various parts of the vehicle, such as the engine compartment, door panels, and the underbody. The global automotive acoustic materials market is expected to grow at a steady pace in the coming years due to increasing demand for quieter and more comfortable rides. One of the key factors driving the growth of the automotive acoustic materials market is that premium and luxury vehicles are typically equipped with high-quality acoustic materials to provide a comfortable and quiet ride. As the demand for these types of vehicles increases, so does the demand for acoustic materials. Additionally, various governments and regulatory bodies have imposed regulations on the noise levels emitted by vehicles. This has led to an increased demand for acoustic materials that can reduce the noise levels inside the vehicle. Furthermore, the development of new and advanced materials that offer better acoustic performance is driving the growth of the market. These materials are lightweight, durable, and cost-effective, which makes them an attractive option for manufacturers. In summary, the demand for acoustic materials in the automotive industry is driven by the increasing demand for premium and luxury vehicles, stringent regulations, technological advancements, growing awareness of noise pollution, and increasing demand for electric and hybrid vehicles.
BASF SE, DOW, 3M, Covestro AG, HUNTSMAN, Henkel Adhesives Technologies India Private Limited, DuPont., TORAY INDUSTRIES, INC., LyondellBasell Industries Holdings B.V., and Sika are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
COVID-19 Impact
The COVID-19 pandemic has had a significant impact on the automotive industry, including the automotive acoustic materials market. The pandemic has caused disruptions in the global supply chain, which has affected the availability and pricing of raw materials used in the production of automotive acoustic materials. Additionally, The pandemic has led to a decrease in demand for automobiles, as people are travelling less and many businesses are operating remotely. This has resulted in a decrease in demand for automotive acoustic materials, as well. Furthermore, Due to the pandemic, many automotive manufacturers have had to delay or cancel the production, which has affected the demand for acoustic materials used in automobiles. Overall, the COVID-19 pandemic has had a negative impact on the automotive acoustic materials market, as it has disrupted supply chains, reduced demand for automobiles, delayed production, and shifted the focus to electric vehicles. However, as the global economy continues to recover, it is expected that the automotive industry and the demand for automotive acoustic materials will eventually rebound.
The global automotive acoustic materials market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the market is segmented into fibreglass, pvc, polyurethane, polypropylene, abs (acrylonitrile butadiene styrene), and others. The abs (acrylonitrile butadiene styrene) category is to witness higher CAGR during the forecast period owing to ABS is a strong and durable material that can withstand impact and wear and tear. This makes it a popular choice for automotive applications that require high performance and durability. Moreover, ABS is a relatively low-cost material compared to other options such as carbon fiber or aluminium. This makes it an attractive option for automakers who are looking to reduce costs while still maintaining high-quality standards.
· On the basis of drive type, the market is categorized into light commercial vehicle, heavy commercial vehicle, and passenger vehicle. Among these, commercial vehicles hold significant growth in the market. The demand for commercial vehicles such as trucks, buses, and vans is growing due to the expansion of e-commerce, logistics, and transportation sectors. Additionally, Governments and regulatory bodies have established noise and emission regulations for commercial vehicles. These regulations mandate the use of noise-reducing components in vehicles to reduce the noise levels and meet the required standards.
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Automotive Acoustic Materials Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America has a significant share in the automotive acoustic materials market due to several factors such as North America has a strong and mature automotive industry, which is a significant consumer of automotive acoustic materials. The United States, in particular, is home to many leading automakers, including General Motors, Ford, and Fiat Chrysler, among others. These automakers demand high-quality acoustic materials to enhance the comfort and noise insulation of their vehicles. Additionally, the North American automotive industry is subject to stringent regulations, including noise and emission regulations. The regulations mandate the use of acoustic materials to reduce the noise emitted by vehicles, which has led to an increased demand for acoustic materials in the region. Furthermore, North American consumers place a high emphasis on comfort and luxury features in their vehicles. Acoustic materials are an essential component of providing a quiet and comfortable ride, which has led to an increased demand for these materials in the region. Overall, the combination of a strong automotive industry, stringent regulations, high adoption of electric vehicles, and a focus on comfort has led to North America having the highest share in the automotive acoustic materials market.
The major players targeting the market include
· BASF SE
· DOW
· 3M
· Covestro AG
· HUNTSMAN
· Henkel Adhesives Technologies India Private Limited
· DuPont.
· TORAY INDUSTRIES, INC.
· LyondellBasell Industries Holdings B.V.
· Sika AG
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Automotive Acoustic Materials market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the automotive acoustic materials market?
• Which factors are influencing the automotive acoustic materials market over the forecast period?
• What are the global challenges, threats, and risks in the automotive acoustic materials market?
• Which factors are propelling and restraining the automotive acoustic materials market?
• What are the demanding global regions of the automotive acoustic materials market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
Table of Content:-
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 IMPACT OF COVID-19 ON THE AUTOMOTIVE ACOUSTIC MATERIALS MARKET
6 AUTOMOTIVE ACOUSTIC MATERIALS MARKET REVENUE (USD BN), 2020-2028F
7 MARKET INSIGHTS BY MATERIAL TYPE
8 MARKET INSIGHTS BY VEHICLE TYPE
9 MARKET INSIGHTS BY APPLICATION
10 MARKET INSIGHTS BY REGION
11 AUTOMOTIVE ACOUSTIC MATERIALS MARKET DYNAMICS
12 AUTOMOTIVE ACOUSTIC MATERIALS MARKET OPPORTUNITIES
13 AUTOMOTIVE ACOUSTIC MATERIALS MARKET TRENDS
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
17 COMPANY PROFILED
18 DISCLAIMER
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