Automotive Acoustic Material Market Ascends at a CAGR of 4.52%

Introduction

The study of all mechanical waves in gases, liquids, and solids, such as vibration, sound, ultrasound, and infrared, is done in the research known as automotive acoustic material. The broad field of automotive acoustics includes mechanical waves and vibrations' production, transmission, and reception. The currently in-use structure frequently employs the Automotive Acoustic Material Market to reduce the amount of noise emitted. For instance, buildings are insulated inside using Automotive Acoustic materials to reduce the noise intensity from outside traffic. Automotive acoustic materials are also used in the manufacturing industry to reduce machine noise and vibrations and safeguard workers on the shop floor.

Automotive acoustic materials aim to enhance the passenger's riding experience. The market value has expanded due to rising levels of R&D spending and growing demand for more sophisticated comfort and safety features. The rising availability of mainly designed acoustic materials with dampening capabilities and the worldwide emphasis on reducing noise pollution will provide considerable potential opportunities for the industry. The fast advancement of manufacturing technology and the rise and expansion of the manufacturing sector will boost market expansion. Government regulations on motor vehicle noise will help to open up the industry further.

Market Dynamics

Increased Sales of Electric Vehicles and Favorable Government Initiatives Pump the Demand for Automotive Acoustic Materials

As a result of increasing pollution and bad air quality throughout the world, governments are encouraging the use of electric automobiles in many different nations. Many governments have lofty goals to reduce the number of fossil fuel-powered vehicles on the road and enhance the air quality in their countries. Many OEMs are heavily investing in the R&D of the most cutting-edge acoustic material solutions for electric automobiles since EV powertrains have fewer moving parts and generate various sounds and vibrations.

Along with CO2 emission limits, automakers must abide by regulations limiting interior and outside noise. The noise from passing automobiles is a significant factor contributing to European environmental health problems, especially in urban areas and near roadways. Since governments worldwide give economic relief packages to strengthen the economy, increasing demand for car interiors, the automotive sector is anticipated to grow during the projection period.

Regional Insights

Asia-Pacific holds the highest market share and is anticipated to rise at a CAGR of 5.76% throughout the forecast period. Asia-Pacific was home to the most significant global auto production in 2021. The area's automotive acoustic materials market is considered the largest in volume and value. The region's massive automobile production creates a market for acoustic materials with tremendous growth potential. China is the world's largest vehicle market. As new automakers move into the nation and are anticipated to unveil their latest models soon, India is displaying significant promise for the automotive acoustic material sector.

Europe owns the second-largest market share. Growing at a CAGR of 3.21%, the region is predicted to generate USD 1,841 million by 2030. Europe presently controls the automotive market due to the increased adoption of advanced manufacturing technologies, the presence of essential firms in this area, and the rising sales of premium, luxury, and sports cars. Throughout the projection period, it will continue to retain its dominant tendency. Europe is projected to see exceptional growth throughout the anticipated period. This is due to the burgeoning automotive sector in the area, which has grown, and the abundance of raw materials.

Major worldwide businesses operating in the sector are investing in the North American region to expand their market presence and stay one step ahead of their competitors. Electric car sales are increasing across the country because they are so silent that pedestrians cannot hear them. As a result, governments are introducing new regulations to guarantee pedestrian safety. The growing popularity of luxury, electric, and autonomous vehicles in the area and ongoing technical improvements may lead to an increase in the market for automotive acoustic materials throughout the forecasted period.

Key Highlights

• The global automotive acoustic material market was valued at USD 4,684 million in 2021. It is estimated to reach a value of USD 6,672 million by 2030, growing at a CAGR of 4.52% during the forecast period (2022–2030).
• By material type, the global automotive acoustic material market is classified into Polyurethane, Textile, Fiberglass, and Others. The Polyurethane segment holds the largest market share and is estimated to grow at a CAGR of 4.49% during the forecast period.
• By vehicle type, the global automotive acoustic material market is bifurcated into Passenger Cars and Commercial Vehicles. The Passenger Cars segment holds the largest market share and is expected to grow at a CAGR of 4.62% during the forecast period.
• By application type, the global automotive acoustic material market is categorized into Bonnet Liner, Door Trim, and Others. The Others segment holds the largest market share and is projected to grow at a CAGR of 4.61% during the forecast period.

Competitive Players

1. Dow Chemicals
2. 3M Acoustics
3. BASF SE
4. Covestro
5. Henkel Adhesive Technologies
6. Lyondellbasell
7. Sumitomo Riko
8. Sika
9. Toray Industries
10. Huntsman
11. Freudenberg Group

Recent Developments

• April 2024 – XPENG announced its new electric SUV, the G9. The car will feature a specially developed air suspension system designed by Vibracoustic. This system includes switchable two-chamber air springs providing two levels of stiffness to adapt to different loads and road conditions.

Segmentation

1. By Material Type
   1. Polyurethane
   2. Textile
   3. Fiberglass
   4. Others
2. By Vehicle Type
   1. Passenger Cars
   2. Commercial Vehicles
3. By Application Type
   1. Bonnet Liner
   2. Door Trim
   3. Others