Heavy Commercial vehicles segment is projected to grow at fastest CAGR in Automotive NVH Materials Market.

Northbrook, IL 60062 -- (SBWire) -- 09/26/2023 --The report "Automotive NVH Materials Market by Material Type (Thermoplastic Polymer, Engineering Resin), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), Application (Absorption, Insulation), & Region- Global Forecast to 2027", Automotive NVH materials market size is projected to reach USD 7.4 billion by 2027 from USD 6.2 billion in 2022 growing at a CAGR of 3.7%.

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The automotive NVH materials market is primarily driven by the increasing use of different types of materials such as thermoplastic polymer, engineering resin, and others which includes rubbers, textile materials in products that are used as automotive NVH material in the automotive industry for the different automotive parts such as automotive interior and exterior. Moreover, it is also driven by the rapidly developing industrial sector in emerging economies such as China, India, Mexico and Brazil.

"Thermoplastic Polymer is projected to grow at fastest CAGR, in terms of volume, during the forecast period"
Thermoplastic Polymers are projected to be the fastest growing segment, in terms of volume, during the forecast period. These polymers are extensively used as preliminary material in the manufacture of NVH products which are used in automotive applications for interior, exterior, Engine, chassis and different other automotive parts, wherein the property of controlling NVH levels is a major concern.

"Heavy Commercial vehicles segment is projected to grow at fastest CAGR, in terms of volume, during the forecast period."
Heavy Commercial vehicle type is projected to be the fastest growing segment in global automotive NVH material market, in terms of volume, during the forecast period. Because of the increase in infrastructure projects in emerging markets has led to an increased need for mass transportation of supplies and raw materials. The need for mass transportation has led to an increase in the demand for HCV, thus driving the demand for automotive NVH materials.

"North America is expected to be the second largest market following Asia Pacific for automotive NVH material market, during the forecast period, in terms of value and volume."
North America is the most promising regional market for polymers and related industries, including automotive NVH material. The U.S. dominates the North American automotive NVH materials market with maximum share. Canada and Mexico are the other major automotive NVH materials markets in the region. The factor that is contributing to the growth of the North American automotive NVH materials market are associations, such as FMVSS, CMVSS, and NHTSA, which regulate the vehicle and road safety norms in the U.S. and Canada.

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New product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the automotive NVH material market include DuPont De Nemours, Inc. (U.S.), BASF SE (Germany), Sumitomo Riko Company Limited (Japan), Dow Inc. (U.S.) and Covestro AG. (Germany).

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