PUNE, India, October 24, 2017 /PRNewswire/ --
The report "Acoustic Materials
Market by Type (ABS, Fiberglass, PP, PU, PVC &
Textile), Component (Arch Liner, Outer & Inner Dash, Fender
& Floor Insulator, Door Trim, Head & Bonnet Liner, Engine
Cover, Trunk Trim, Parcel Tray), ICE & EV, and Region -
Forecast to 2022", published by MarketsandMarkets™, the
increasing sales of ICE and electric/hybrid vehicles, the rising
global demand for premium passenger cars and enhanced interior
cabin comfort features, government regulations pertaining to
vehicle noise limits, and the increasing penetration of
comfort-related components in the heavy commercial vehicle segment
are the key drivers for the Acoustic Materials Market. The market
is projected to grow at a CAGR of 6.99% during the forecast period,
to reach a market size of USD 2.93
Billion by 2022 from USD 2.09
Billion in 2017.
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Browse 131 Market Data Tables and 44
Figures spread through 209 Pages and
in-depth TOC on "Acoustic Materials Market - Forecast
to 2022"
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"Passenger cars are estimated to hold the largest
market share of the Acoustic Materials Market during the forecast
period"
With the rise in vehicle production, the demand for safety and
comfort features has also increased among the users. As per the
OICA statistics, the passenger cars accounted approximately 75.9%
of the total vehicle production in 2016. Furthermore, the increase
in the sales of premium vehicles at a global level is expected to
influence the demand for acoustic materials. As per the same
publication from OICA, the Asia Oceania region produced close to
60% of the global passenger cars in 2016, an increase of 9.3% from
2015. The four countries from Asia Oceania China, Japan, India,
and South Korea accounted for 55%
of the global passenger car production, in the same year. The same
growth is projected to continue in the next few years, and hence,
the region is projected to lead the passenger car Acoustic
Materials Market.
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"Under hood & engine bay application is estimated
to be the fastest growing market for acoustic materials from 2017
to 2022"
Bonnet liners, engine top cover, and engine encapsulation are
the key components that absorb the under hood & engine bay
noise. The powertrain-related components have to undergo extreme
vibrations and temperatures. Hence, the acoustic materials used in
such applications have to cope up with the requirements. According
to the ECE R118 regulations of United Nations Economic Commission
for Europe (UNECE), the insulation
material used in the under hood & engine bay application must
have nonflammability certification. Further, component
manufacturing companies using enhanced materials to achieve the
target. Autoneum (Switzerland), an
acoustic components manufacturer, is using the Theta-FiberCell
material technology that provides optimum noise protection and
integrated thermal insulation for engine bay components. Also, the
design upgradation by OEMs to develop more powerful engine would
boost the demand for acoustic materials to absorb the noise for the
engine bay.
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"Asia Oceania: The largest region for the Acoustic Materials
Market."
The Asia Oceania region has emerged as the largest market for
acoustic materials from 2017 to 2022. The region is the leader in
global vehicle production with the production growth of around 17%
in the past 5 years. China had
been the automobile market in recent years. According to the
Organisation Internationale des Constructeurs d Automobiles (OICA),
China along with Japan and India together accounted almost 44% of the
global vehicle production in 2016. Furthermore, as per the World
Bank statistics, the per capita income in China and India has increased by approximately 68% and
14%, respectively, from 2010 to 2015. The rise in disposable income
is expected to increase the sales of medium- and premium-end
vehicles, which in turn would fuel the Acoustic Materials
Market.
The Acoustic Materials Market report profiles key
acoustic material suppliers such as BASF (Germany), The Dow
Chemical Company (US), 3M (US), Henkel
(Germany), Covestro (Germany), DuPont (US), Toray
Industries, Huntsman International (US), and Sika (Switzerland).
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