The increasing shifting trend of consumers towards comfortable and eco-friendly cars there are several automobile manufacturers who have steadily started utilizing natural constituents such as soya and sugarcane for the enlargement of bio-based polyurethane.
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Increasing disposable income, evolving lifestyles and rapid urbanization are expanding the demand for noise regulator products in vehicles. Additionally, the factors that are driving the growth of global automotive NVH material market include increasing demand for lightweight vehicles and expanding demand for automobile across the world.
On the basis of application, the automotive NVH materials market is segmented into vibration dampening, insulation, and sound absorption.
Asia-Pacific has been contributing the largest revenue and is expected to generate $6.2 billion by 2024. Moreover, the growth of this market in this region is due to growth in the automotive industry that is enhancing the demand for automotive NVH materials.
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Some of the major players operating in the global automotive NVH materials market are Exxon Mobil Corporation, Huntsman Corporation, Mitsui Chemicals Inc., Sumitomo Chemical Company Limited, Covestro AG, 3M Company, Lanxess AG, BASF SE, DowDuPont Inc., and Borgers SE & Co. KGaA.
Source: VynZ Research