According to a new report published by MarkWide Research, titled, “Automotive Acoustic Materials Market,” the global market for automotive acoustic materials is anticipated to witness steady growth in the coming years. With a projected compound annual growth rate (CAGR) of 5.2% from 2023 to 2030, the market is poised for expansion, driven by the increasing demand for noise reduction and interior comfort in vehicles.
Noise Reduction and Comfort
One of the primary drivers of the automotive acoustic materials market is the emphasis on noise reduction and interior comfort in vehicles. Acoustic materials are used to dampen noise, vibrations, and harshness (NVH) levels in automobiles.
Stringent regulations related to noise pollution and emissions require automotive manufacturers to invest in acoustic materials for compliance.
Electric and Hybrid Vehicles
The growth of electric and hybrid vehicles, which operate quietly, highlights the need for effective acoustic materials to ensure passenger comfort.
Interior Design and Aesthetics
Acoustic materials are also used for interior design and aesthetics, enhancing the overall appeal of vehicles.
- North America: The North American automotive acoustic materials market is expected to witness steady growth, driven by the demand for noise reduction in passenger vehicles and commercial vehicles.
- Europe: Europe is another significant market, with countries like Germany known for their automotive engineering. The European market benefits from a focus on luxury vehicle segments.
- Asia-Pacific: The Asia-Pacific region is projected to experience the highest growth rate, fueled by the expansion of the automotive industry in countries like China and India and the demand for compact and affordable vehicles.
- Latin America and Middle East & Africa: These regions are also emerging as potential markets due to urbanization and increased automobile ownership.
The automotive acoustic materials market is characterized by competition among key players striving to provide high-quality and innovative acoustic solutions. Some of the prominent companies in the market include:
- Sumitomo Riko Company Limited
- Autoneum Holding AG
- 3M Company
- BASF SE
- Covestro AG
- DuPont de Nemours, Inc.
- Henkel AG & Co. KGaA
- Sika AG
These companies are actively engaged in research and development efforts, product innovation, and collaborations with automotive manufacturers to offer advanced acoustic materials that meet regulatory and customer requirements.