Global Automotive NVH Materials Market Report to 2027 - Growing Demand for Battery-Powered and Hybrid Vehicles Presents Opportunities - ResearchAndMarkets.com
The "Global Automotive NVH Materials Market by Material Type (Thermoplastic Polymers, Engineering Resins), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), Application (Absorption, Insulation), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering
DUBLIN--(BUSINESS WIRE)--Nov 3, 2022--
The "Global Automotive NVH Materials Market by Material Type (Thermoplastic Polymers, Engineering Resins), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), Application (Absorption, Insulation), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global automotive NVH material market is projected to reach USD 7.4 billion in 2027, rising at a CAGR of 3.7% during the forecast period.
The rise in the consumption of polymers used for reducing noise, vibration and ruggedness has led to the increased usage of NVH materials for the manufacture of products for various applications. As plastic makes the good replacement with metals and alloys NVH material makes the significant value for Lightweight purpose. The use of NVH materials helps to enhance the mechanical and optical properties of products and reduces NVH levels for better ride comfort.
By material type, engineering resins accounted for second-largest market share for automotive NVH materials market, in terms of value & volume, in 2021
Engineering resins have excellent mechanical strength and better thermal properties, compared to other widely used commodity plastics, such as polystyrene, PVC, polypropylene, and polyethylene. These resins are expensive and hence used in lower quantities to manufacture low-volume mechanical parts. Polyvinyl-butyl is another engineering resin, with very high damping factor value of about 35% - 37%, which ensures significant weight reduction of the vehicle without compromising with the NVH isolation properties. These resins are used in the form of sheets and fabricated parts to reduce and absorb a vehicle's interior noise, providing comfortable ride to the occupants.
By vehicle type, Light commercial vehicles accounted for second-largest market share for automotive NVH materials market, in terms of value & volume, in 2021
Vans, cargo vans, pickup trucks, three-wheeler trucks, and all other commercial goods carriers with an overall weight of 3.5 tons or more are considered light commercial vehicles. Due to their sturdy construction, low maintenance requirements, and fuel efficiency for inter-city operations, these vehicles are mostly employed for the short- to medium-distance delivery of lightweight commodities. There is a greater requirement for mass transportation of supplies and raw materials for various projects due to the expansion in infrastructure projects and industrialization. These factors have boosted the use of LCV, which has led to an increase in the market for automotive NVH materials.
Based on region, Asia-Pacific region is projected to grow at the fastest CAGR in terms of value during the forecast period
The automotive NVH materials market was dominated by Asia-Pacific within the global market in 2021. In Due to region's rapid economic growth, it is estimated to experience the highest growth rate. The easy accessibility of labor and raw materials at reduced prices, significant countries include China, South Korea, Indonesia, and Japan are luring investors to build up production facilities.
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KEYWORD:
INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE AUTOMOTIVE MANUFACTURING EV/ELECTRIC VEHICLES MANUFACTURING ALTERNATIVE VEHICLES/FUELS
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/03/2022 12:30 PM/DISC: 11/03/2022 12:32 PM
http://www.businesswire.com/news/home/20221103006077/en
