Automotive NVH Materials Market (Size of $7.7 billion in 2017) to Witness 7.3% CAGR During 2018–2024

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Automotive NVH Materials Market
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2
Industry Overview

• The automotive NVH materials market was valued at
  7.7 billion in 2017 and is estimated to reach
  12.6 billion by 2024. This market is also
  expected to observe a CAGR of 7.3 during the
  forecast period. The increasing market share is
  attributed towards extensive sales of automobiles
  and increasing demand for lightweight vehicles
  across the globe. NVH stands for noise, vibration
  and harshness and it comprises of a complete
  array of perceptions from hearing to feeling. The
  demand for automotive NVH materials is witnessing
  rampant growth as it is considered to be the most
  crucial part of product development.
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  utomotive-nvh-materials-market

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market segmentation

• On the basis of type, the automotiveNVHmaterials
  market is segmented into rubber, foam, metal
  sheet, cork, polyvinyl chloride, felt, and
  others. The other types are segmented into resins
  and fiberglass. Among all these segments, rubber
  has been holding largest revenue in the global
  automotive NVH materials market and is expected
  to contribute 4.4 billion by 2024. The market is
  witnessing swelling demand due to its various
  properties such as fluid resistance, high
  temperature stability and low cost of rubbers
  thereby making it popular as compared to several
  types of automotiveNVHmaterials. Moreover, the
  extensive demand for rubber is attributed towards
  their incomparable properties in automotive
  applications such as, noise insulation and
  vibration damping.

4
Geographic Overview

• Geographically, Asia Pacific have been
  contributing largest revenue and is expected to
  generate 6.2 billion by 2024. The largest share
  of this market is accounted towards increasing
  usage of automotive NVH materials in the
  passengers vehicles particularly in countries
  such as India and China. Moreover, the growth of
  this market in this region is due to growth in
  automotive industry that is enhancing the demand
  for automotive NVH materials. Furthermore, it has
  been observed that in North America, the U.S.
  holds largest market for automotive NVH materials
  and this domination is anticipated to endure
  during the forecast period.

5
Competition among key players

• Some of the major players operating in the global
  automotive NVH materials market are Exxon Mobil
  Corporation, Huntsman Corporation, Mitsui
  Chemicals Inc., Sumitomo Chemical Company
  Limited, Covestro AG, 3M Company, Lanxess AG,
  BASF SE, DowDuPont Inc., and Borgers SE Co.
  KGaA.

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