Automotive NVH Materials Market Share Will Take a Big Hit in the Coming Years

 The Global "Automotive NVH Materials Market is projected to reach USD 13.52 Billion by 2021, at a CAGR of 6.0% from 2016 to 2021. The growing demand for automotive NVH materials is due to their extensive usage in the automotive industry. NVH levels also influence the vehicle buying decision of customers.

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Browse 105 market data tables and 58 figures spread through 144 pages and in-depth TOC on "Automotive NVH Materials Market”

Based on application, the absorption segment is projected to lead the automotive NVH materials market from 2016 to 2021. The demand for noise & vibration absorption was the highest in 2015. Noise and vibration absorbing materials are manufactured using various thermoplastic polymers, engineering resins, and rubbers. Rubbers are the most commonly used material for absorbing vibrations and controlling harshness in automobiles. The use of sound and vibration absorbing materials has been significantly increased by automotive manufacturers to provide enhanced customer satisfaction and comfort. This, in turn, is expected to propel the growth of the automotive NVH materials market.

Asia-Pacific is the largest market for automotive NVH materials, in terms of value, and is expected to lead the global automotive NVH materials market during the forecast period. Countries in this region, such as China and India, are witnessing a significant increase in the use of automotive NVH materials in the passenger vehicles segment. The market’s growth in this region can be attributed to the increasing automotive industry, which is driving the demand for automotive NVH materials. In North America, the U.S. is the largest market for automotive NVH materials and this dominance is projected to continue during the forecast period.

The automotive NVH materials market has considerable players competing for significant market shares. These companies are actively adopting various strategies, such as new product development, acquisitions, and joint ventures, to increase their market shares. Major manufacturers, including the Dow Chemical Company (U.S.) and Sumitomo Riko Company Limited (Japan), have adopted various organic and inorganic growth strategies to expand their business.

https://www.prnewswire.com/in/news-releases/automotive-nvh-materials-market-worth-1352-billion-usd-by-2021-616925254.html

Huntsman Corporation (U.S.) and Sumitomo Riko Company Limited (Japan) are the most active players in the automotive NVH materials market. These two accounted for the largest share of all the developmental activities undertaken in the automotive NVH materials market. These companies expanded their automotive NVH materials business through expansions and mergers & acquisitions.

In September 2014, Huntsman Corporation opened a thermoplastic polyurethane (TPU) production facility in China. This expansion was made keeping in view the increasing demand for TPUs in the automotive industry. This development helped fulfill the growing consumer demand for automotive NVH materials in the Asia-Pacific region.

In July 2015, Sumitomo Riko Company Limited established a new company, SumiRiko Yamagata Co., Ltd. (Japan). The new company, which launched its operations in 2016, is engaged in the manufacturing and sale of automotive anti-vibration rubber. This expansion is to cater to the growing demand for automotive NVH materials in the Asia-Pacific region. Sumitomo Riko Company Limited is focused on expansions and joint ventures to strengthen its position in the automotive NVH materials market.

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