Dublin, Aug. 20, 2021 (GLOBE NEWSWIRE) -- The "Acoustic and Thermal Insulation Market for Electric Vehicles - A Global and Regional Analysis: Focus on Application Type, Propulsion Type, Vehicle Type, Material Type, Insulation Type, and Region - Analysis and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global acoustic and thermal insulation market for electric vehicles was valued at $134.4 million in 2020 and is projected to reach $1,108.4 million by 2031, registering a CAGR of 20.45% during the period 2021-2031.
The growth in the global acoustic and thermal insulation market for electric vehicles is attributable to the ongoing demand for innovative, lightweight, and efficient insulation materials for electric vehicles.
Acoustic and Thermal Insulation Market for Electric Vehicles
Electric vehicle sales have slowly gained momentum in many regional markets, but the market is still minuscule as compared to the global internal combustion (IC) engine-based vehicles market. As various projections indicate that electric vehicles will eventually dominate the automotive industry, many existing vehicle manufacturers, along with several new players, have started aligning their company goals toward producing electric vehicles.
Many leading automotive OEMs have partnered with insulation material suppliers to use the materials in their electric vehicles. As governments across the world are starting to implement plans toward increasing electric vehicle sales and phasing out IC engine vehicles in their countries, the market for acoustic and thermal insulation for electric vehicles is also bound to increase.
Market Segmentation
Material Type
The material type segment of the acoustic and thermal market for EV includes foam, fiber, pad and mat, and others. The foam segment is estimated to dominate the global acoustic and thermal insulation market for electric vehicles due to their low cost and durability, along with their better additional thermal insulation properties as compared to other types of insulation materials.
As the need for insulation in electric vehicles is also increasing due to the advent of BEVs, foam-based materials have been preferred for battery and electric motor insulation, along with insulation inside the passenger cabin. Additional insulation layers are often used in high-end vehicles, and low-end electric vehicles have also shifted from butyl or fiber-based materials to foam-based materials for acoustic and thermal insulation applications.
Acoustic and Thermal Insulation Market for Electric Vehicles by Application type
The application type segment of the market is categorized into passenger compartment, rear compartment, under the hood and battery pack, and exterior. The passenger compartment segment currently holds a significant number of application opportunities for insulation materials in an electric vehicle.
This is due to multiple application areas for insulation materials inside a passenger cabin, such as inside door panels, under the floor, on the roof, on vehicle seats, and on the vehicle dashboard. The fact that a large quantity of insulation materials is needed to cover the insides of a passenger vehicle cabin leads to the high usage of insulation materials for this application.
Key Market Players and Competition Synopsis
Some of the key players operating in the market include
- ADDEV Materials
- Adler Pelzer Holding GmbH
- Armacell International S.A.
- Autoneum
- CYG Tefa
- INOAC Corporation
- Morgan Advanced Materials plc
- Pritex Limited
- Shanghai Xinan Automobile Sound-Insulation Felt Co., Ltd.
- Sika Automotive AG
- Sumitomo Riko Company Limited
- Tecman Speciality Materials Ltd
- Toyota Boshoku Corporation
- Unifrax
- Zotefoams plc
Key Topics Covered:
1. Markets
1.1 Industry Outlook
1.1.1 Supply Chain Analysis
1.1.2 Who Supplies Whom
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Need for Better Driving Experience
1.2.1.2 Protecting EV Battery Components in Extreme Weather
1.2.1.3 Need to Reduce Ancillary Noise in an EV
1.2.1.4 Need for Thermal Insulation in EV Batteries to Maintain Chemical Reaction
1.2.2 Business Challenges
1.2.2.1 Lack of Standard Global Regulations for EV Insulating Material Quality
1.2.2.2 Maintaining Optimal Weight for Insulating Material
1.2.2.3 Preventing Thin Slot Line Insulation and Thermal Runway
1.2.3 Business Strategies
1.2.3.1 Product Development and Innovation
1.2.3.2 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Partnerships, Joint Ventures, Collaborations, and Alliances
1.2.4.2 Mergers and Acquisitions
1.2.5 Business Opportunities
1.2.5.1 Developments in Material Technology
1.2.5.2 Ecological Benefits of Better Sustainable Insulation Materials
2. Application
2.1 Applications and Specifications
2.1.1 Applications of Acoustic and Thermal Insulation in Electric Vehicles
2.1.1.1 Passenger Compartment
2.1.1.2 Rear Compartment
2.1.1.3 Under the Hood and Battery Pack
2.1.1.4 Exterior
2.1.2 Electric Vehicles by Propulsion Types
2.1.2.1 Battery Electric Vehicle
2.1.2.2 Plug-In Hybrid Electric Vehicle
2.1.2.3 Hybrid Electric Vehicle
2.1.3 Electric Vehicle Types
2.1.3.1 Passenger Vehicle
2.1.3.2 Commercial Vehicle
2.2 Acoustic and Thermal Insulation Market for Electric Vehicles - Global Demand Analysis (by Application)
2.2.1 Global Demand Analysis (by Application Type), Kilotons and $Million
2.2.1.1 Passenger Compartment
2.2.1.2 Rear Compartment
2.2.1.3 Under the Hood and Battery Pack
2.2.1.4 Exterior
2.2.2 Global Demand Analysis (by Propulsion Type), Kilotons and $Million
2.2.2.1 Battery Electric Vehicle
2.2.2.2 Plug-In Hybrid Electric Vehicle
2.2.2.3 Hybrid Electric Vehicle
2.2.3 Global Demand Analysis (by Vehicle Type), Kilotons and $Million
2.2.3.1 Passenger Vehicle
2.2.3.2 Commercial Vehicle
3. Products
3.1 Global Acoustic and Thermal Insulation Market for Electric Vehicles - Products and Specifications
3.1.1 Acoustic and Thermal Insulation Materials for Electric Vehicles
3.1.1.1 Foam
3.1.1.1.1 Polyurethane
3.1.1.1.2 Polypropylene
3.1.1.1.3 Polyethylene
3.1.1.2 Fiber
3.1.1.2.1 Synthetic Fiber
3.1.1.2.2 Natural Fiber
3.1.1.3 Pad and Mat
3.1.1.4 Others
3.2 Acoustic and Thermal Insulation Market for Electric Vehicles - Global Demand Analysis (by Product)
3.2.1 Global Demand Analysis (by Material Type), Kilotons and $Million
3.2.1.1 Foam
3.2.1.1.1 Polyurethane
3.2.1.1.2 Polypropylene
3.2.1.1.3 Polyethylene
3.2.1.2 Fiber
3.2.1.2.1 Synthetic Fiber
3.2.1.2.2 Natural Fiber
3.2.1.3 Pad and Mat
3.2.1.4 Others
3.2.2 Global Demand Analysis (by Insulation Type), Kilotons
3.3 Product Benchmarking: Growth Rate - Market Share Matrix
3.4 Global Pricing Analysis
3.5 Technology Roadmap
4. Region
4.1 Markets
4.1.1 Buyer Attributes
4.1.2 Key Manufacturers and Suppliers in North America
4.1.3 Competitive Benchmarking
4.1.4 Business Drivers
4.1.5 Business Challenge
4.2 Applications
5. Markets - Competitive Benchmarking & Company Profiles
5.1 Company Overview
5.2 Product Portfolio
5.3 Business Strategies
5.3.1 Market Developments
5.4 Corporate Strategies
5.4.1 Mergers and Acquisitions
5.5 Competitive Position
For more information about this report visit https://www.researchandmarkets.com/r/e2ww5n
