Automotive NVH Materials Market predicted to grow exponentially by 2024
Date: 2018-10-05   Author: Ronak Bora  Category: #industry

Automotive NVH Materials Market predicted to grow exponentially by 2024

On the basis of application, absorption segment Automotive NVH Materials Market is anticipated to lead during forecast time frame. Vibration and noise absorbing resources are manufactured by several products which includes rubber, thermoplastic polymer and resins.Rubbers are extensively used resource for controlling harshness and absorbing vibrations in vehicles due to their superior properties, includes noise insulation and vibration damping. Low cost, high temperature stability and fluid resistance, makes rubbers the utmost ideal type of product. This, in turn is projected to propel the automotive NVH materials market growth.

Automotive NVH Materials Market size is projected to grow in the forecast period owing to increasing demand from automobile industry due to strict government protocols for safer and noiseless vehicles is the key driving factor for automotive NVH materials market. Extensive applications of product in passenger vehicles in order to reduce noise, vibrations and harshness levels stimulates the vehicle buying decision is also a major factor for fueling the product demand. Shift in consumer preferences and possible use of product in battery powered light vehicle is anticipated to drive the automotive NVH materials market within upcoming years.

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Rapid increase in global vehicles production is a key driving factor for automotive NVH materials market growth. Additionally, rising consumer warranty claims against manufacturers for noise vibration and harshness component is a factor which fuel the product demand.

Foam laminates based noise and vibration product emerged as the foremost product due to its superior properties which comprises of light weight, good thermal stability & compression and hardness. Usage of foam laminates for insulation of door and floor in commercial and passenger vehicle are the key driving factor for the automotive NVH materials market growth in upcoming years. Additionally, increasing use of foam laminates for cushioning and roof lining in vehicles due to flexibility and light weight of the product is anticipated to uplift the demand of product.

Asia-Pacific led by China and India is anticipated to lead the automotive NVH materials market during projected time frame. High demand for product in this region is attributed to the expansion of production capacity. Increasing investments by foreign companies and rise in living standard are the other major factors for the automotive product growth in Asia pacific.

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In China, the consumption of product is high due to the growing population and high disposable income, which give a significant impact for the growth of automobile industry. Availability of resources and cheap labor is also a key driving factor for the product market growth due to large presence and expansion by the key manufacturers in this region.

Presence of several key market players in the automotive NVH materials market includes 3M Company, BASF SE, Dow chemical company, Huntsman corporation, Sumitomo Riko Company Limited and ExxonMobil Corporation. Some other notable participants include Unique Fabricating Inc., W. KOPP GmbH & Co. KG, ElringKlinger AG and Rogers Foam Cooperation.
 



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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