Automotive NVH Materials Market: Segmentation
Based on materials type, automotive NVH materials can be segmented into rubbers, engineering resins, molded foam and others. Rubbers type accounted for major share of the NVH market and is likely to remain the dominant material type during the forecast period. Rubber based materials are easy to manufacturer and easily replaceable. Also they provide ideal noise insulation and vibration damping. Rubbers have high density due to which they are widely accepted as sound absorbing material in automotive industry.
Based on vehicle type, automotive NVH materials are segmented into passenger cars, Light Commercial Vehicles (LCV) and Heavy Commercial Vehicles (HCV).Passenger cars accounted for prominent share in the NVH materials market and likely to remain the dominant market during the forecast period. Change in lifestyle and increase in middle class income coupled with supporting financial schemes for purchasing cars have contributed the increase in sales of passenger cars especially in developing countries. All these factors has fueled the demand for automotive NVH materials. Also increase in use of electric and hybrid cars in near future due to environmental regulations is also anticipated to drive the demand for automotive NVH materials during the forecast period.
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Based on application, automotive NVH materials can be segmented into absorption and insulation. Demand for absorption segment contributed major market for automotive NVH materials in 2016 and likely to remain the dominant market during the forecast period. Absorption in automotive is related to sound and vibration absorption. Automotive manufacturers are designing vehicles in order to give customer comfort and smooth ride. Hence, they are increasing the use of sound and vibration absorption materials in the passenger cars and also in LCV and HCV.
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Automotive NVH Materials Market: Region-wise Outlook
Based on region, the automotive NVH materials market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific held major share of the automotive NVH materials market in 2016. It is likely to remain the dominant region during the forecast period. Asia Pacific is largest producing and consuming region in automotive. Countries such as China, India and Japan are considered as global automotive hub with presence of large number of automotive and auto component manufacturers. All these are major factors which are anticipated to drive the demand for automotive NVH materials during forecast period. After Asia Pacific, North America is anticipated to held major share during the forecast period. Reviving automotive industry in U.S. and increase in preference towards hybrid cars and electric cars are the major factors which are contributed to drive the NVH materials market in North America. Europe region is also anticipated to grow at moderate rate compared to other regions, whereas Middle East & Africa and Latin America are expected sluggish growth rate owing to political instability in some of the leading countries in these regions