Automotive Acoustic Materials Market Estimated to reach $3.5 billion by 2027

 The Automotive Acoustic Materials Market is projected to grow at a CAGR of 4.79% from USD 2.4 billion in 2019 to USD 3.5 billion by 2027. The increasing requirement for acoustic efficiency in automobiles for enhanced cabin comfort is the major factor which will drive the acoustic materials market.

BEV is expected to be the fastest growing segment in the automotive acoustic materials market, by electric vehicle type, during the forecast period.

Battery electric vehicle (BEV) is projected to be the fastest growing segment in the automotive acoustic materials market by 2027. The battery used in a BEV is rechargeable and accounts for about 70% weight of the electric vehicle. OEMs are investing heavily in R&D to reduce the noise created through motors in BEVs. With increasing vehicle production and focus on cabin comfort, the demand for acoustic materials will grow in the near future. For instance, Autoneum has expanded its product portfolio for electric vehicles with Hybrid-Acoustics ECO+ for carpet systems, inner dashes, and floor insulators.

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Market Dynamics

Drivers

Introduction of enhanced comfort and safety features

With the increase in demand for vehicles, especially premium passenger cars, cabin comfort and luxury have become the key focus areas for manufacturers. The key objective is to ensure that the vehicle sound level does not exceed the permissible limit. Material suppliers are deploying strategies of expansion and new product development to cater to the increased focus on automotive acoustics and meet the increased demand for acoustic materials.

Government regulations pertaining to vehicle noise

With CO2 emission limitations, automotive OEMs also need to comply with the regulations regarding exterior and interior noise. The vehicle pass-by noise has been identified as one of the main causes of environmental health problems in Europe, especially in urban areas and those in the proximity of highways.

Opportunities

Increased demand for nonwoven materials

In recent years, OEMs have been focusing on reducing the vehicle weight to meet the stringent regulations for CO2 emission and fuel efficiency. In the current scenario, the usage of nonwoven materials, which have multiple automotive applications, has increased.

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Rising sales of electric vehicles

With decreasing limits of tail-pipe emissions and increasing limits of fuel efficiency, OEMs are focusing on technological advancements in engine & exhaust systems. As the existing and upcoming regulations consider fleet level emission limits, OEMs are focusing on the production and sale of battery electric vehicles. This would help them to restrict the country-wise emissions of their fleets. Consequently, the demand for electric vehicles is projected to grow in the near future. Though electric vehicles generate lesser noise than internal combustion engines, there are third order sources such as electric motor, battery, HVAC system, and other several low decibel (dB) noise from the brake, acoustics, wind, and squeaks and rattle sounds from the vehicle.

Key Market Players

Some of the key players in the automotive acoustic materials market are DowChemical (US), BASF (Germany), 3M (US), Covestro (Germany), Henkel (Germany), and LyondellBasell (US). BASF (Germany) is identified as a leading player in the acoustic materials market. The company is one of the established players and globally renowned suppliers of acoustic materials to Tier I, component manufacturers, and OEMs.

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