Automotive Acoustic Material Market Size is projected to reach USD 6.67 billion by 2030, growing at a CAGR of 4.52%: Straits Research

New York, United States, Nov. 10, 2022 (GLOBE NEWSWIRE) -- The study of all mechanical waves in gases, liquids, and solids, such as vibration, sound, ultrasound, and infrared, is done in the research known as automotive acoustic material. The broad field of automotive acoustics includes mechanical waves and vibrations' production, transmission, and reception. The currently in-use structure frequently employs the Automotive Acoustic Material Market to reduce the amount of noise emitted. For instance, buildings are insulated inside using Automotive Acoustic materials to reduce the noise intensity from outside traffic. Automotive acoustic materials are also used in the manufacturing industry to reduce machine noise and vibrations and safeguard workers on the shop floor.

Automotive acoustic materials aim to enhance the passenger's riding experience. The market value has expanded due to rising levels of R&D spending and growing demand for more sophisticated comfort and safety features. The rising availability of mainly designed acoustic materials with dampening capabilities and the worldwide emphasis on reducing noise pollution will provide considerable potential opportunities for the industry. The fast advancement of manufacturing technology and the rise and expansion of the manufacturing sector will boost market expansion. Government regulations on motor vehicle noise will help to open up the industry further.

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Increased Sales of Electric Vehicles and Favorable Government Initiatives Pump the Demand for Automotive Acoustic Materials

As a result of increasing pollution and bad air quality throughout the world, governments are encouraging the use of electric automobiles in many different nations. Many governments have lofty goals to reduce the number of fossil fuel-powered vehicles on the road and enhance the air quality in their countries. Many OEMs are heavily investing in the R&D of the most cutting-edge acoustic material solutions for electric automobiles since EV powertrains have fewer moving parts and generate various sounds and vibrations.

Along with CO2 emission limits, automakers must abide by regulations limiting interior and outside noise. The noise from passing automobiles is a significant factor contributing to European environmental health problems, especially in urban areas and near roadways. Since governments worldwide give economic relief packages to strengthen the economy, increasing demand for car interiors, the automotive sector is anticipated to grow during the projection period.

Report Scope

Report Metric	Details
Market Size	USD 6.67 Billion by 2030
CAGR	4.52% (2022-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2022-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Material, Vehicle, Application
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Dow Chemicals ,3M Acoustics ,BASF SE ,Covestro ,Henkel Adhesive Technologies ,Lyondellbasell ,Sumitomo Riko ,Sika ,Toray Industries ,Huntsman ,Freudenberg Group
Key Market Drivers	Increased Sales of Electric Vehicles Government Measures for Economic Assistance and Rules Governing Vehicle Noise

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Regional Insights

Asia-Pacific holds the highest market share and is anticipated to rise at a CAGR of 5.76% throughout the forecast period. Asia-Pacific was home to the most significant global auto production in 2021. The area's automotive acoustic materials market is considered the largest in volume and value. The region's massive automobile production creates a market for acoustic materials with tremendous growth potential. China is the world's largest vehicle market. As new automakers move into the nation and are anticipated to unveil their latest models soon, India is displaying significant promise for the automotive acoustic material sector.

Europe owns the second-largest market share. Growing at a CAGR of 3.21%, the region is predicted to generate USD 1,841 million by 2030. Europe presently controls the automotive market due to the increased adoption of advanced manufacturing technologies, the presence of essential firms in this area, and the rising sales of premium, luxury, and sports cars. Throughout the projection period, it will continue to retain its dominant tendency. Europe is projected to see exceptional growth throughout the anticipated period. This is due to the burgeoning automotive sector in the area, which has grown, and the abundance of raw materials.

Major worldwide businesses operating in the sector are investing in the North American region to expand their market presence and stay one step ahead of their competitors. Electric car sales are increasing across the country because they are so silent that pedestrians cannot hear them. As a result, governments are introducing new regulations to guarantee pedestrian safety. The growing popularity of luxury, electric, and autonomous vehicles in the area and ongoing technical improvements may lead to an increase in the market for automotive acoustic materials throughout the forecasted period.

Key Highlights

The global automotive acoustic material market size is estimated to reach a value of USD 6,672 million by 2030, growing at a CAGR of 4.52% during the forecast period (2022–2030).
By material type, the global automotive acoustic material market is classified into Polyurethane, Textile, Fiberglass, and Others. The Polyurethane segment holds the largest market share and is estimated to grow at a CAGR of 4.49% during the forecast period.
By vehicle type, the global automotive acoustic material market is bifurcated into Passenger Cars and Commercial Vehicles. The Passenger Cars segment holds the largest market share and is expected to grow at a CAGR of 4.62% during the forecast period.
By application type, the global automotive acoustic material market is categorized into Bonnet Liner, Door Trim, and Others. The Others segment holds the largest market share and is projected to grow at a CAGR of 4.61% during the forecast period.

Competitive Players in the Global Automotive Acoustic Material Market

Dow Chemicals
3M Acoustics
BASF SE
Covestro
Henkel Adhesive Technologies
Lyondellbasell
Sumitomo Riko
Sika
Toray Industries
Huntsman
Freudenberg Group

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Global Automotive Acoustic Material Market: Segmentation

By Material Type

Polyurethane
Textile
Fiberglass
Others

By Vehicle Type

Passenger Cars
Commercial Vehicles

By Application Type

Bonnet Liner
Door Trim
Others

By Regions

North America
Europe
Asia-Pacific
Rest of the World

TABLE OF CONTENT

Introduction
1. Market Definition
2. Market Scope
Research Methodology
1. Primary Research
2. Research Methodology
3. Assumptions & Exclusions
4. Secondary Data Sources
Market Overview
1. Report Segmentation & Scope
2. Value Chain Analysis: Automotive Acoustic Material Market
3. Key Market Trends
  1. Drivers
  2. Restraints
  3. Opportunities
4. Porter's Five Forces Analysis
  1. Bargaining Power of Suppliers
  2. Bargaining Power of Buyers
  3. Threat of Substitution
  4. Threat of New Entrants
  5. Competitive Rivalry
5. Market Share Analysis
Material Type Overview
1. Introduction
  1. Market Size & Forecast
2. Polyurethane
  1. Market Size & Forecast
3. Textile
  1. Market Size & Forecast
Application Type Overview
1. Introduction
  1. Market Size & Forecast
2. Bonnet Liner
  1. Market Size & Forecast
3. Door Trim
  1. Market Size & Forecast
Regional Overview
1. Introduction
  1. Market Size & Forecast
2. America
  1. North America
  2. U.S.
    1. By Material Type
    2. By Application Type
  3. Canada
    1. By Material Type
    2. By Application Type
  4. Mexico
    1. By Material Type
    2. By Application Type
  5. Latin America
    1. By Material Type
    2. By Application Type
3. Europe
  1. Market Size & Forecast
  2. Germany
    1. By Material Type
    2. By Application Type
  3. France
    1. By Material Type
    2. By Application Type
  4. U.K.
    1. By Material Type
    2. By Application Type
  5. Italy
    1. By Material Type
    2. By Application Type
  6. Spain
    1. By Material Type
    2. By Application Type
  7. Rest of Europe
    1. By Material Type
    2. By Application Type
4. Asia Pacific
  1. Market Size & Forecast
  2. Japan
    1. By Material Type
    2. By Application Type
  3. China
    1. By Material Type
    2. By Application Type
  4. Australia
    1. By Material Type
    2. By Application Type
  5. India
    1. By Material Type
    2. By Application Type
  6. South Korea
    1. By Material Type
    2. By Application Type
  7. Rest of Asia-Pacific
    1. By Material Type
    2. By Application Type
5. Middle East & Africa
  1. Market Size & Forecast
  2. Saudi Arabia
    1. By Material Type
    2. By Application Type
  3. South Africa
    1. By Material Type
    2. By Application Type
  4. Kuwait
    1. By Material Type
    2. By Application Type
  5. Rest of Middle East & Africa
    1. By Material Type
    2. By Application Type
Company Profile
1. Dow Chemicals
  1. Company Overview
  2. Financial Performance
  3. Recent Developments
  4. Product Portfolio
2. 3M Acoustics
  1. Company Overview
  2. Financial Performance
  3. Recent Developments
  4. Product Portfolio
3. BASF SE
  1. Company Overview
  2. Financial Performance
  3. Recent Developments
  4. Product Portfolio
Conclusion & Recommendation
Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/automotive-acoustic-material-market/toc

Market News

In June 2022, Ultramid® A3EM8 OP, a grade created for painting, was released by BASF. It provides a more ecologically friendly painting of automotive parts with a high-quality surface finish.
In June 2022, to create the "bZ4X" electric vehicle, Toyota Motor Corporation utilized Sumitomo Riko's anti-vibration rubber, hoses, and sound controlling & insulation technologies.
In April 2022, MuPhony, a technologically advanced product by 3M Acoustics, intends to lower NVH (noise, vibrations, and harshness) levels within the automobile compartment.

News Media

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