The Automotive Acoustic Materials Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Acoustic Materials Global Market Report 2024, The automotive acoustic materials market size has grown strongly in recent years. It will grow from $3.52 billion in 2023 to $3.77 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to regulatory compliance, emission reduction targets, increased urbanization, consumer comfort and expectations, electric and hybrid vehicle growth.
The automotive acoustic materials market size is expected to see strong growth in the next few years. It will grow to $4.96 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to rising autonomous vehicles, interior vehicle customization, environmental concerns, rising infrastructure projects, emerging growth in economies. Major trends in the forecast period include electric vehicle specific solutions, advanced soundproofing technologies, customized interior acoustics, augmented reality audio, smart materials and sensors.
The increase in sales of electric vehicles is expected to propel the growth of the automotive acoustic materials market going forward. Electric vehicles are vehicles that use electricity either entirely or in part. Automotive acoustic materials help electronic vehicles to reduce interior vehicle noise, by soundproofing and sound absorbing. According to the International Energy Agency (IEA) report in 2021, a France-based autonomous intergovernmental organization for energy, two-thirds of new electric car registrations and two-thirds of the stock in 2020 were battery electric vehicles (BEVs). Additionally, China has the greatest fleet size of electric vehicles with 4.5 million units and Europe experienced the largest annual growth, rising to 3.2 million in the year 2020. Therefore, the rising sales of electric vehicles are driving the growth of the automotive acoustic materials market.
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The automotive acoustic materials market covered in this report is segmented
1) By Material Type: Acrylonitrile Butadiene Styrene (ABS), Fiberglass, Polyvinyl Chloride (PVC), Polyurethane (PU) Foam, Polypropylene, Textiles
2) By Component: Arch Liner, Dash, Fender and Floor Insulator, Door, Head & Bonnet Liner, Engine Cover, Trunk Trim, Parcel Tray, Other Components
3) By Vehicle Type: Passenger Cars, LCV, HCV
4) By Application: Underbody and Engine Bay Acoustics, Interior Cabin Acoustics, Exterior Acoustics, Trunk Panel Acoustics
Technological advancements are the key trend gaining popularity in the automotive acoustic materials market. Major companies operating in the automotive acoustic materials market are introducing new technologies such as Flexi-Loft, a new felt-based technology that reduces product weight to sustain their position in the automotive acoustic materials market. For instance, in November 2021, Autoneum, a Switzerland-based developer of multifunctional, lightweight components and systems for interior floor and engine bay launched Flexi-Loft for vehicle interiors. This felt-based technology helps make a unique blend of recycled cotton and functional fibers reduces product weight and allows for accurate adaptation even to complex shapes. The textile material provides a versatile and more sustainable alternative to foam.
The automotive acoustic materials market report table of contents includes:
1. Executive Summary
2. Automotive Acoustic Materials Market Characteristics
3. Automotive Acoustic Materials Market Trends And Strategies
4. Automotive Acoustic Materials Market – Macro Economic Scenario
5. Global Automotive Acoustic Materials Market Size and Growth
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26. South America Automotive Acoustic Materials Market
27. Brazil Automotive Acoustic Materials Market
28. Middle East Automotive Acoustic Materials Market
29. Africa Automotive Acoustic Materials Market
30. Automotive Acoustic Materials Market Competitive Landscape And Company Profiles
Top Major Players:
- Dow Chemical Company
- 3M Acoustic Solutions
- BASF SE
- Covestro AG
- Henkel Adhesives Technologies India Private Limited
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