Emphasis on Material Type (Fiberglass, PVC, Polyurethane, Polypropylene, ABS (Acrylonitrile Butadiene Styrene), and Others); Vehicle Type (Light Commercial Vehicle, Heavy Commercial Vehicle, and Passenger Vehicle); Application (Underbody & engine bay acoustics, Interior cabin acoustics, Exterior acoustics, and Trunk panel acoustics); and Region/Country
Global Automotive Acoustic Materials is expected to grow at a significant rate of around 5% during the forecast period. The automotive acoustic materials market refers to the materials used in the design and production of vehicles to reduce noise and vibration. These materials are used in various parts of the vehicle, such as the engine compartment, door panels, and the underbody. The global automotive acoustic materials market is expected to grow at a steady pace in the coming years due to increasing demand for quieter and more comfortable rides. One of the key factors driving the growth of the automotive acoustic materials market is that premium and luxury vehicles are typically equipped with high-quality acoustic materials to provide a comfortable and quiet ride. As the demand for these types of vehicles increases, so does the demand for acoustic materials. Additionally, various governments and regulatory bodies have imposed regulations on the noise levels emitted by vehicles. This has led to an increased demand for acoustic materials that can reduce the noise levels inside the vehicle. Furthermore, the development of new and advanced materials that offer better acoustic performance is driving the growth of the market. These materials are lightweight, durable, and cost-effective, which makes them an attractive option for manufacturers. In summary, the demand for acoustic materials in the automotive industry is driven by the increasing demand for premium and luxury vehicles, stringent regulations, technological advancements, growing awareness of noise pollution, and increasing demand for electric and hybrid vehicles.
BASF SE, DOW, 3M, Covestro AG, HUNTSMAN, Henkel Adhesives Technologies India Private Limited, DuPont., TORAY INDUSTRIES, INC., LyondellBasell Industries Holdings B.V., and Sika are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst material type, abs (acrylonitrile butadiene styrene) category to witness higher CAGR during the forecast period”
Based on type, the market is segmented into fibreglass, pvc, polyurethane, polypropylene, abs (acrylonitrile butadiene styrene), and others. The abs (acrylonitrile butadiene styrene) category is to witness higher CAGR during the forecast period owing to ABS is a strong and durable material that can withstand impact and wear and tear. This makes it a popular choice for automotive applications that require high performance and durability. Moreover, ABS is a relatively low-cost material compared to other options such as carbon fiber or aluminium. This makes it an attractive option for automakers who are looking to reduce costs while still maintaining high-quality standards.
“Amongst vehicle type, the commercial vehicle holds a significant growth in the market’’
On the basis of drive type, the market is categorized into light commercial vehicle, heavy commercial vehicle, and passenger vehicle. Among these, commercial vehicles hold significant growth in the market. The demand for commercial vehicles such as trucks, buses, and vans is growing due to the expansion of e-commerce, logistics, and transportation sectors. Additionally, Governments and regulatory bodies have established noise and emission regulations for commercial vehicles. These regulations mandate the use of noise-reducing components in vehicles to reduce the noise levels and meet the required standards.
“North America to hold a significant share in the market.”
North America has a significant share in the automotive acoustic materials market due to several factors such as a strong and mature automotive industry, which is a significant consumer of automotive acoustic materials. The United States, in particular, is home to many leading automakers, including General Motors, Ford, and Fiat Chrysler, among others. These automakers demand high-quality acoustic materials to enhance the comfort and noise insulation of their vehicles. Additionally, the North America automotive industry is subject to stringent regulations, including noise and emission regulations. The regulations mandate the use of acoustic materials to reduce the noise emitted by vehicles, which has led to an increased demand for acoustic materials in the region. Furthermore, North American consumers place a high emphasis on comfort and luxury features in their vehicles. Acoustic materials are an essential component of providing a quiet and comfortable ride, which has led to an increased demand for these materials in the region.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Automotive Acoustic Materials Market
6. Automotive Acoustic Materials Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Material Type
8. Market Insights By Vehicle Type
9. Market Insights By Application
10. Market Insights By Region
11. Automotive Acoustic Materials Market Dynamics
12. Automotive Acoustic Materials Market Opportunities
13. Automotive Acoustic Materials Market Trends
14. Value Chain Analysis
15. Competitive Scenario
16. Company Profiled
17. Disclaimer
Research Methodology for the Automotive Acoustic Materials Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global automotive acoustic materials market were the three major steps undertaken to create and analyze the adoption of automotive acoustic materials in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global automotive acoustic materials market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the automotive acoustic materials market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the automotive acoustic materials market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as material type, material type, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the automotive acoustic materials market. Further, we conducted factor analysis using dependent and independent variables such as various material type, vehicle type, and applications of automotive acoustic materials. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the automotive acoustic materials market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global automotive acoustic materials market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global automotive acoustic materials market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of material type, vehicle type, and application in the global automotive acoustic materials market.
The main objective of the Global Automotive Acoustic Materials Study
The current & future market trends of the global automotive acoustic materials market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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