The global automotive NVH materials market was worth US$ 8.2 Billion in 2018. Automotive NVH materials, also known as noise, vibration, and harshness materials, are used to reduce unwanted noise, vibrations (oscillations due to automobile mechanics), and harshness (the level of discomfort) in automobiles. NVH materials, including molded rubbers, metal and film laminates, molded foams and engineering resins, are used to control air and structure-borne noises as well as noise generated from the interior components of the vehicles. In recent years, there has been a heightened demand for NVH materials as they absorb noise and prevent it from entering the vehicle, thereby preventing discomfort and improving the ride quality.
Over the past few years, the sales of automobiles in emerging regions like India and China have been rising steadily. The strict government regulations for reducing vehicle noise levels are increasing the demand for NVH materials in these regions. Moreover, several manufacturers are developing lightweight vehicles with enhanced fuel efficiency which helps in improving the noise and vibration quality of the vehicles. They are also focusing on mergers and acquisitions (M&A) to enhance their portfolio for NVH solutions. Some of the other factors that are currently driving the market growth are the influence of NVH and Vehicle Refinement Levels on buying decisions, advanced NVH products with innovative technologies, changing lifestyles and rising incomes in both developed and developing economies. Looking forward, the market value is projected to reach US$ 11.3 Billion by 2024, exhibiting a CAGR of 5.4% during the forecast period.
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