[FURL=https://www.industryarc.com/Report/15504/automotive-nvh-materials-market.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease] Automotive NVH materials market[/FURL] is forecast to reach $8 billion by 2026, after growing at a CAGR of 6% during 2021-2026, owing to the rising demand for automobiles with an equivalent level of comfort in requisites of noise, vibration, and harshness (NVH). To achieve this, NVH materials are extensively used in the automotive industry. Globally, governments are implementing laws and regulations to limit noise pollution. Most of the regulations are entailed in limiting the noise levels of automobiles. As a result, automotive producers are continuously working to offer high-quality and durable NVH materials. In addition, stringent government regulations for a quieter and safer automobile are expected to drive the automotive NVH materials market during the forecast period.The Covid-19 pandemic is having a huge impact on the automotive industry. The production of automobiles has been disruptively stopped, contributing to a major loss in the total automotive sectors.
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Key Takeaways
Asia Pacific dominates the automotive NVH materials market, owing to the increasing demand and production of lightweight vehicles. According to OICA, the production of passenger cars has increased by 2.6 % in Malaysia in 2019.
The automotive NVH materials are extensively used in the automotive components such as cooling fans, brakes, alternator, panel holes, fluid routing lines, actuators, and other for noise and vibration dampening, as well as shock absorption.
Automotive manufacturers are increasingly using NVH materials such as rubber, thermoplastic resins, engineering resins, and more to improve the noise and vibration of automotive, which is driving the automotive NVH materials market growth.
Volatility in raw material prices coupled with the introduction of alternatives such as active noise control systems is restraining the automotive NVH materials market growth during the forecast period.
Due to the COVID-19 pandemic, most of the countries have gone under lockdown, owing to which operations of various industries such as automotive have been negatively affected, which is hampering the automotive NVH materials market growth.
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Automotive NVH Materials Market Drivers
Stringent Emission and Fuel Economy Regulations
Increasing Government Initiatives For Battery Electric Vehicles (BEV)
Automotive NVH materials market are BASF SE, Henkel AG & Co KGaA, Huntsman Corporation, 3M Company, ExxonMobil Corporation, Covestro, The Dow Chemical Company, Borgers AG, and Sumitomo Riko Company Limited.
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