Automotive Acoustic Materials Market Dominated by Top Players BASF SE, Dow Chemical Company, and 3M (US).

Acoustic Materials Market is estimated to grow at a CAGR of 6.99% during the forecast period, to reach a market size of USD 2.93 billion by 2022.

Posted April 4,2019 in News and Politics.

Sangharatna Kamble
200 Followers 10 Views
Automotive Acoustic Materials Market Dominated by Top Players BASF SE, Dow Chemical Company, and 3M (US).

The Acoustic Materials Market is estimated to grow at a CAGR of 6.99% during the forecast period, to reach a market size of USD 2.93 billion by 2022. The rising demand for interior cabin comfort features, stringent vehicle noise regulations, growing vehicle production, and increasing premium vehicle sales have resulted in the growth of the acoustic materials market. The acoustic materials are derived from natural fibers such as felt fibers, coir fibers, and bio-based polyurethane. These fibers are derived from natural sources such as sugarcane, soya, cotton, and jute. These nonconventional acoustic materials are eco-friendly, economical, and recyclable. Owing to these advantages, the naturally derived acoustic materials are expected to be preferred over conventional acoustic materials. A few of the material suppliers such as CTA Acoustics (US) and Borgers (Germany) offer natural acoustic materials. Also, Autoneum (Switzerland) has introduced an engine cover containing around 70% of the recycled fiber materials that can withstand the high temperature of up to 200°C along with better tensile strength and acoustic properties. These natural acoustic materials provide the same level of acoustical performance along with environmental and economic benefits. Hence, it has immense opportunity to gain the market in the coming years.

Download Free PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=193996894

With the increase in focus toward stringent emission regulations, the market for electric vehicles is projected to grow at a significant rate over the period of the next 5 years, and hence, electric & hybrid vehicles would be a potential market for acoustic materials in the coming years. As per the International Energy Agency (IEA), the global BEV and PHEV sales increased to 753.2 thousand units in 2016 from 47.6 thousand units in 2011, at a CAGR of 73.74% over the past 5 years. Considering the high cost of these vehicles, the passenger would look for better cabin comfort, which would attract the demand for premium acoustic materials. Considering this potential growth, acoustic material suppliers can target the material segment for electric & hybrid vehicles.

The bonnet liner, a component, which belongs to the under hood & engine bay application, is projected to grow at the fastest rate under the review period. Bonnet liner is one of the component that remains close to the engine bay part: should be able to deal with high temperature without increasing the weight. According to ECE R118 regulations of United Nations Economic Commission for Europe (UNECE), the insulation material used in the under hood & engine bay application must have nonflammability certification. So, to satisfy the desired results, the proper selection of material is also important.

According to the International Institute of Acoustics and Vibration” (IIAV) study published in 2016, the weight of passenger car bonnet liner made up of polyurethane is 0.6 kg, as compared to the weight of same hood liner made up of felt material is 1.0 kg. So, it is not only light weight, but also offers thermal and noise absorption. Hence, considering the criticality of the application, the acoustic component manufacturer would focus to produce this component by using advanced acoustic materials.

View Detail TOC @ https://www.marketsandmarkets.com/Market-Reports/acoustic-material-market-193996894.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

sales@marketsandmarkets.com