The industry is a highly competitive with the presence of large market players worldwide. Manufacturers are involved in collaboration with OEMs to gain a competitive advantage over other companies. For instance, BASF and Hyundai R&D engineers have jointly developed thermal engine encapsulation for their vehicles. Technological advancements are likely to have a huge impact on industry development.
Some of the key automotive engine encapsulation market participants are:
Some of the key strategies adopted by these manufacturers are expansion of production facilities and investment in R&D and new product development.