18 March 2021
Visiongain has published a new report on Automotive Acoustic Materials Market Report to 2031: Forecasts by Type (Textile, ABS, Fiberglass, PVC, PU & PP), by Component (Parcel Tray, Bonnet Liner & Head, Engine Cover, Arch Liner, Floor Insulator & Fender, Dash & Trunk Trim), ICE & EV, and Regional. PLUS Profiles of Leading Automotive Acoustic Material Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Automotive Acoustic Material market was valued at US$ xx billion in 2019 and is projected to reach at a market value of US$ xx billion by 2031. The major demand and requirement for acoustic efficiency in automobiles to enhance the cabin comfort in a vehicle is the key reason which will lead the Acoustic Material Market in 2021-2031.
COVID-19 Impact on Automotive Acoustic Material Market
Impact of Covid-19 pandemic has brought globe down on their knees and disrupts the market segments and their businesses. Automotive industry has also stopped its vehicle production, Parts Production and Supply Chain due to restriction in many countries. Analysis shows that it would be a major concern automotive OEMs for next few quarters and there will a thin chance for recovery of the market in the end of 2021.
With increase demand of vehicles, especially Luxury & comfort Cabins and Passenger Cars, has become a key focus for the manufacturers to work upon. Manufacturers are working on every possible market aspects to meet and increase the demand of acoustic materials.
Regarding interior and exterior noise, OEMs also needs to comply with the regulations regarding the same with CO2 emission limitation.
The introduction of new technology and autonomous vehicle has transformed to ease the commute. Automotive Acoustic Material technology in the market has reduced vehicle weight to meet the regulation for CO2 emission and fuel efficiency.
With increasing limit of fuel efficiency and decreasing limit of tail-pipe emission, OEMs are focusing and working towards engine and power technology of the engine and exhaust systems. Furthermore, the analysis shows the increase in demand of electric vehicles is expected to grow even more in near future quarters.
The global Automotive Acoustic Material market is dominated by big players such as Dow Chemical, BASF, 3M, Covestro, Henkel, Lyondellbasell, Toray Industries, Sumitomo Riko, Sika and Dowdupont. These companies have secure their position in the market to offer wide range of advanced assistance systems. The key strategies adopted by these companies is to sustain their market position are new technology, new product development, Contract agreement and Collaborations. ASF partnered with Hyundai Motor Company to display case the RN30 concept car in the K Fair organized in Düsseldorf, Germany. Hyundai used Cellasto, a microcellular polyurethane elastomer for the manufacturing of bumpers and top mounts under this collaboration. This elastomer enhances the harshness, noise and vibrations of the car.
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