New York, March 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Acoustic Materials Global Market Report 2023" - https://www.reportlinker.com/p06426341/?utm_source=GNW
V., Sumitomo Riko, Sika AG, Rockwool A/S, Huntsman International LLC, Johns Manville, Saint-Gobain Ecophon AB, Harman International, Thomas Publishing Company, UFP Technologies Inc., Nihon Tokushu Toryo Co. Ltd., Knauf Insulation, and Owens Corning.
The global automotive acoustic materials market grew from $3.24 billion in 2022 to $3.5 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The automotive acoustic materials market is expected to grow to $4.71 billion in 2027 at a CAGR of 7.7%.
The automotive acoustic materials market consists of sales of vibration dampers, vibration damping sheets, barrier decouplers, PVC decouplers, cellulose panels, sound silencers, silk metal, and echo barriers.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Acoustic materials refer to a variety of foams, fabrics, metals, etc. used to quiet homes, offices, cars, and other structures to improve the comfort and safety of their occupants by reducing noise generated both inside and outside of those spaces. According to their properties, such as frequency, composition, thickness, surface finish, and mounting method, different types of materials are used for automotive acoustics. used to reduce the strength of mechanical waves such as sound, ultrasound, vibration, and infrasound in liquid, gas, and solid media.
Asia-Pacific was the largest region in the automotive aucostic materials market in 2022. The regions covered in automotive acoustic materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of materials of automotive acoustic materials are acrylonitrile butadiene styrene (ABS), fiberglass, polyvinyl chloride (PVC), polyurethane (PU) foam, polypropylene, and textiles.Acrylonitrile butadiene styrene is an opaque amorphous and thermoplastic polymer.
The different components include arch liner, dash, fender and floor insulator, door, head and bonnet liner, engine cover, trunk trim, parcel tray, and other components.The various types of vehicles include passenger cars, LCVs, and HCV.
These are used in various applications such as underbody and engine bay acoustics, interior cabin acoustics, exterior acoustics, and trunk panel acoustics.
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.
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.
In May 2020, Freudenberg Group, a Germany-based company offering tailor-made and technological products and services in the fields of automotive, automobile parts and more acquired Low & Bonar PLC. for an undisclosed amount. This deal is expected to help Freudenberg Group in strengthening its performance materials business and expands its technological know-how. Low & Bonar PLC., is a UK-based high-performance material manufacturer operating in the automotive acoustic materials market.
The countries covered in the automotive acoustic materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive acoustic materials market research report is one of a series of new reports that provides automotive acoustic materials market statistics, including automotive acoustic materials industry global market size, regional shares, competitors with an automotive acoustic materials market share, detailed automotive acoustic materials market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive acoustic materials industry. This automotive acoustic materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06426341/?utm_source=GNW
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