Global Automotive NVH Materials Market 2019-2023
About this market
The automotive industry is growing with the increasing sales of passenger and light commercial vehicles (LCVs) worldwide. Also, the number of consumers emphasizing on comfort is increasing at a steady rate. The increasing use of noise and vibration reduction products in passenger vehicles and LCVs on account of the growing demand for cost- effective and comfortable vehicles has been fostering the demand for NHV materials. Technavio’s analysts have predicted that the automotive NVH materials market will register a CAGR of nearly 7% by 2023.
Increasing stringency of government regulations on noise reduction
With the rising focus to reduce the noise levels in the environment, many countries are implementing laws and regulations to ensure noise pollution.
Fluctuations in raw materials prices
Crude oil is a primary raw material used in the production of NVH materials based on polyurethane, PVC polypropylene and other compounds. The fluctuating raw materials prices pose a significant challenge to the global automotive NVH materials markets, which is expected to impede the market growth.
For the detailed list of factors that will drive and challenge the growth of the automotive NVH materials market during the 2019-2023, view our report.
The automotive NVH materials market is highly fragmented. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.