Market Challenges And Opportunities

Prevalent Scenario in NVH Materials Market

Rapidly increasing population, fast growing urbanization, and increasing demand for cars are the major drivers for the NVH materials market. According to the International Organization of Motor Vehicle Manufacturers, the global automotive production in 2016 accounted for 94.9 million units of which about 75% share was contributed by cars. Moreover, there are increasing warranty claims imposed by regulatory authorities in the interest of the customers against the noise, vibration, and harness. This has led the automotive manufacturers to aggressively invest in research and development to develop and incorporate NVH materials in the automotive environment. The consumers are focusing on the vehicle performance in terms of speed, horsepower, fuel economy, comfort, and NVH characteristics which affect their buying decision. Owing to their lightweight and flexibility, the foam laminates are widely used as insulation materials for floor insulation, door insulation, floor lining, and cushioning of vehicles. Rubber has higher strength, flexibility, density, and chemical stability as compared to foam and hence is excessively used in sealing and lining solutions. The changing regulations and standards imposed by international and local authorities regarding the specific vehicle weights in different part of the world have anticipated the growth of the light weight and acoustic products such as NVH materials to reduce the noise, vibration, and harness of the vehicle and reduce the overall vehicle weight, increase vehicle durability, and enhance its fuel efficiency.

Emerging economies such as China and India are experiencing immense growth in the automobile sector due to rapidly increasing population and rising living standards in these countries. Moreover, abundant availability of raw materials and cheap labor in these countries have led to the key global manufacturers to set up their operation units and cater to the increasing demand for automobile in these countries. This scenario has fueled the growth of the NVH materials in the Asia-Pacific region as compared to North America and Europe.