Automotive NVH Materials Market Report: Analysis and Forecast to 2027 with $7.4 Billion Valuation| MarketsandMarkets™
The automotive NVH materials market is projected to reach USD 7.4 billion by 2027, at a CAGR of 3.7% from USD 6.2 billion in 2022. The growing electric vehicle industry draws lucrative opportunities for the automotive NVH materials market. The unwanted noise and vibration caused due to electric motors in EVs offers new developments for automotive NVH solutions.
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The key global players in the automotive NVH materials market include DuPont De Nemours, Inc. (US), BASF SE (Germany), Sumitomo Riko Company Limited (Japan), Dow Inc. (US), and Covestro AG (Germany). The global and regional players have sizable shares in the automotive NVH materials market. They are focusing on strategies such as new product launches, acquisitions, and expansions, and partnerships & agreements to expand their businesses globally.
DuPont De Nemours, Inc. is a science company devoted to solving challenging problems, while creating measurable and meaningful value for its customers, employees, and shareholders. It operates with three business segments, namely, electronics & industrial, water & protection, mobility & materials. DuPont deals in the manufacture and sales of materials for automotive interiors and safety structures that protect drivers and passengers, improving the driving experience. DuPont high-performance materials are broadly used to help reduce NVH for a more pleasant ride. It offers automotive NVH products through mobility and materials segment. The company is focusing on expanding the availability of its products and services across the globe. This includes R&D centers for innovation that produce materials with high performance applications. Dupont also made an agreement with Celanese Corporation to divest majority of the mobility and materials segment including the engineering polymers business, performance resins and advanced solutions.
BASF SE is a Germany based chemical company which offers chemical products in agriculture, automotive and transportation, chemicals, construction, electronics and electric, energy and resources, furniture and wood, home care, industrial and institutional cleaning, and others. The company offer these products in chemicals, materials, Industrial solutions, surface technologies, nutrition and care, agriculture solutions and other business segments. Apart from all products BASF is major player for the automotive NVH materials such as Basotect, Elastoflex, Cellasto. Company offers these automotive NVH material products through material segment. It covers four main regions across globes: Europe, North America, Asia Pacific and South America, Africa, Middle East. BASF recently started world’s first testing strategy without animal testing. The company strengthened its innovation capabilities in Asia Pacific region at innovation Shanghai. In this expansion, one R&D workshop facility and one extra building are included.
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The Asia Pacific region is projected to emerge as the largest market for automotive Noise, Vibration, and Harshness (NVH) materials. NVH materials play a crucial role in enhancing the comfort and noise insulation within vehicles by reducing noise levels, vibrations, and harshness experienced by passengers. With the growing automotive industry in the Asia Pacific region, particularly in countries like China, India, Japan, and South Korea, there is an increasing demand for vehicles that provide a quiet and comfortable driving experience. The rising middle-class population, urbanization, and increasing disposable income levels have fueled the demand for automobiles, including passenger cars and commercial vehicles, across Asia Pacific. As consumers prioritize comfort and noise reduction in their vehicles, the demand for effective NVH materials has witnessed significant growth.
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