Market Research Report
Automotive Acoustic Material Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||938182|
|Published||Content info||90 Pages
Delivery time: 2-3 business days
|Automotive Acoustic Material Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: May 1, 2020||Content info: 90 Pages||
The Automotive Acoustic Material market*is anticipated to register a CAGR of about 5 %, during the forecast period (2020 - 2025).
Growth in Demand for Silent and High Fuel-Efficient Vehicles
With stricter government norms regarding emission of pollutant gas from vehicles it is hard for vehicle manufacturers to comply with the norms as well as keep the engine as quiet as possible. But with the use of engine encapsulation system it is possible to maintain both the factors. So, consumers are also preferring vehicles which comes with this system.
Introduction of Enhanced Comfort and Safety Features
With the increase in demand for vehicles, especially premium passenger cars, where cabin comfort and luxury have become the key focus areas for manufacturers. The key objective is to ensure that the vehicle sound level does not exceed the permissible limit. Material suppliers are deploying strategies of expansion and new product development to cater to the increased focus on automotive acoustics and meet the increased demand for acoustic materials.
Asia-Pacific Captures Major Market Share
The Asia-Pacific region has emerged as the largest market for acoustic materials. Asia-Pacific accounted for the largest global vehicle production in 2019. The region is estimated to be the largest market for automotive acoustic materials, by volume as well as value. The huge vehicle production in the region offers a tremendous growth opportunity for the acoustic materials market. China is the largest producer of vehicles in the region. Favourable investment policies coupled with the availability of cheap labour have made Asia-Pacific an ideal market for automotive manufacturers and acoustic material manufacturers. The region has a higher growth potential than matured markets such as North America and Europe.
Europe is the second largest market for passenger cars, particularly for premium cars. The sale of premium cars is projected to show linear growth during the forecast period, thereby increasing the demand for acoustic materials in Europe.
The competition in the market is increasing as the companies are making new strategic partnerships, investing majorly in R&D projects and launching new products in the market for being ahead of their rivalries. For instance:
In Jan 2020, Nissan has invented lightweight noise-reduction material. Nissan has developed a lightweight noise reducing technology known as acoustic mete-material. It is made up of lattice structure and plastic film. It weights one-fourth of the traditional rubber boards but does the same degree of sound isolation. This will increase the fuel efficiency of the vehicle as the weight is reduced.
In May 2019, Saint-Gobain acquires acoustic solutions provider Pritex. This acquisition will benefit Pritex in gaining a global market. Saint-Gobain Sekurit supplies automotive glazing and modular components for the global vehicle manufacturing segment and the replacement market.
In November 2019, Autoneum has introduced Hybrid-Acoustics PET, for electric vehicles, the components made are largely obtained from recycled fibers. It reduces noise directly at the source and are flameproof and has temperature resistance of up to 180 degree Celsius so that it can also be used as powertrain mounted insulator for combustion engines