The global automotive NVH materials market is projected to reach USD 13.52 billion by 2021, at a CAGR of 6.0% from 2016 to 2021. Automotive NVH materials are used in the automotive industry owing to their noise and vibration isolation properties. These materials lower the NVH levels and help in increasing the overall safety and comfort of the vehicle. The market for automotive NVH materials is expected to grow at a healthy rate owing to the stringent government regulations for safer and quieter cars.
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There is a growing demand for safer and quieter vehicles from buyers. And this demand is fulfilled by the automotive NVH materials. These materials find extensive application in the automotive industry as they provide optimum ride quality and safety in vehicles. As the automotive industry is expected to grow at a healthy rate, the market for automotive NVH materials is also expected to grow.
Asia-Pacific is the fastest growing region in the automotive NVH materials market. Sumitomo Riko Company Limited (Japan) and Mitsui Chemicals (Japan) are the major producers and distributors of automotive NVH materials in this region. China leads the global automotive NVH materials market. This has led to a rise in international companies setting up their manufacturing plants and sales offices in the country, which, in turn, positively impact the growth of the automotive NVH materials in the region.
The automotive NVH materials market in India is projected to grow at the highest rate during the forecast period. The growing demand for automotive NVH materials from the automotive sector is driving the market in India. Availability of raw materials, cheap labor, and an increasing domestic consumption are the key factors fueling the growth of the automotive NVH materials market in the country.
Absorption and insulation are the two application segments of the automotive NVH materials market, of which absorption was the largest application segment in 2015. Vibration absorbing materials are produced using various types of automotive NVH materials, such as rubbers, thermoplastic polymers, and engineering resins. Manufacturers combine various rubbers, such as EPDM, NBR, and other rubbers, to dampen and control the vibrations in vehicles.
Based on vehicle type, the passenger vehicles segment is expected to lead the automotive NVH materials market by 2021. Growth in per capita income and rise in the standard of living in emerging economies are some of the factors propelling the growth of the automotive industry’s passenger vehicles segment. Passenger vehicles are known for their optimum safety and ride comfort, which is why automotive NVH materials find extensive application in passenger vehicles.
The automotive NVH materials market has considerable players competing for significant market shares. These companies are actively adopting various strategies, such as new product development, acquisitions, and joint ventures, to increase their market shares. Major manufacturers, including the Dow Chemical Company (U.S.) and Sumitomo Riko Company Limited (Japan), have adopted various organic and inorganic growth strategies to expand their business.
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To know about the assumptions considered for the study, DOWNLOAD PDF BROCHURE
There is a growing demand for safer and quieter vehicles from buyers. And this demand is fulfilled by the automotive NVH materials. These materials find extensive application in the automotive industry as they provide optimum ride quality and safety in vehicles. As the automotive industry is expected to grow at a healthy rate, the market for automotive NVH materials is also expected to grow.
Asia-Pacific is the fastest growing region in the automotive NVH materials market. Sumitomo Riko Company Limited (Japan) and Mitsui Chemicals (Japan) are the major producers and distributors of automotive NVH materials in this region. China leads the global automotive NVH materials market. This has led to a rise in international companies setting up their manufacturing plants and sales offices in the country, which, in turn, positively impact the growth of the automotive NVH materials in the region.
The automotive NVH materials market in India is projected to grow at the highest rate during the forecast period. The growing demand for automotive NVH materials from the automotive sector is driving the market in India. Availability of raw materials, cheap labor, and an increasing domestic consumption are the key factors fueling the growth of the automotive NVH materials market in the country.
Absorption and insulation are the two application segments of the automotive NVH materials market, of which absorption was the largest application segment in 2015. Vibration absorbing materials are produced using various types of automotive NVH materials, such as rubbers, thermoplastic polymers, and engineering resins. Manufacturers combine various rubbers, such as EPDM, NBR, and other rubbers, to dampen and control the vibrations in vehicles.
Based on vehicle type, the passenger vehicles segment is expected to lead the automotive NVH materials market by 2021. Growth in per capita income and rise in the standard of living in emerging economies are some of the factors propelling the growth of the automotive industry’s passenger vehicles segment. Passenger vehicles are known for their optimum safety and ride comfort, which is why automotive NVH materials find extensive application in passenger vehicles.
The automotive NVH materials market has considerable players competing for significant market shares. These companies are actively adopting various strategies, such as new product development, acquisitions, and joint ventures, to increase their market shares. Major manufacturers, including the Dow Chemical Company (U.S.) and Sumitomo Riko Company Limited (Japan), have adopted various organic and inorganic growth strategies to expand their business.
Sign-up for webinar to uncover the high growth opportunities in Automotive NVH Materials Market.
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