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Automotive Acoustic Materials Market size is anticipated to expand at a considerable growth rate from 2023 to 2032, given the increasing importance of car acoustics among customers.
Consumers nowadays look for purchasing vehicles that offer smoother rides with less noise and vibration. During the past several years, the automotive acoustic materials market demand has also increased due to the strict government regulations addressing the limitations for exterior noise levels.
The product available in a range of textiles, foams, metals, and other materials that are widely used to minimize the noise in vehicles to improve passenger safety and comfort. Several renowned automakers and OEMs are constantly contributing to the development of these efficient and cost-effective materials that provide greater comfort to their customers.
However, businesses across the automotive sector are experiencing the effects of inflation and are concerned about the rising prices of raw materials. Additionally, despite the economic scenario of high inflation, there is a lack of government support available to help market players in strengthening their businesses. As a result, growing worldwide inflation is projected to affect the global automotive acoustic materials market.
In terms of application, the industry is expected to witness appreciable growth from the interior segment by 2032, given the rising trend of noiseless car interiors. Acoustic materials are considered an important product component to perceive quality. Several automakers are looking to attain an appropriate balance between noise source levels and acoustic materials for the same.
In terms of the vehicle, the PCV segment is foreseen to record substantial growth through 2032 resulting from the rising passenger vehicle sales globally. This has prompted major automakers to prioritize the inclusion of modern acoustic technologies in their cars to efficiently address a vast client base.
Based on the regional landscape, Asia Pacific automotive acoustic materials market is expected to emerge as a prominent hub by 2032 attributed to the presence of leading carmakers and a booming automotive sector. Growing shift towards the production of electric vehicles and attempts to improve overall vehicle quality to meet consumer expectation would foster regional industry growth during 2023-2032.
Leading companies operating in the automotive acoustic materials industry include 3M, Harman International Industries, Inc., (Samsung Electronics), BASF SE, Covestro, DOW Chemicals, E. I. du Pont de Nemours and Company (DuPont), Tex Tech Industries, LyondellBasell, Sika AG, Toray Industries, Henkel, Rockwool International, Fabri-Tech components, Huntsman International LLC, Saint-Gobain Ecophon AB and Thomas net (Thomas Industrial Network, Inc.) among others. To acquire a competitive edge in the market, these organizations are primarily concentrating on the development of novel products and collaborations.
To illustrate, in November 2022, HARMAN International, a Samsung Electronics Co. Ltd. subsidiary, specializing in connected technologies for the automotive, consumer, and corporate industries, announced the continuation of its collaboration with Renault with the debut of the all-new Austral. Harman Kardon has blended high-performance loudspeakers with cutting-edge technology and an iconic design to provide a superior sound experience in the automobile.