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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. Increasing disposable income, evolving lifestyles and rapid urbanization is expanding the demand for noise regulator products in vehicles. It has been observed that people across the globe are more inclined towards eco-friendly, lightweight and comfortable vehicles.
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Automotive Noise, Vibration & Harshness (NVH) Materials Market
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Automotive Noise, Vibration & Harshness (NVH) Materials Market 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. Increasing disposable income, evolving lifestyles and rapid urbanization is expanding the demand for noise regulator products in vehicles. It has been observed that people across the globe are more inclined towards eco-friendly, lightweight and comfortable vehicles. For instance, according to a recent report it has been observed that, in 2016 approximately 80 million automobiles were sold across the globe and this number is growing in successive years. Moreover, the swelling production of vehicles is bolstering the market growth for automotive NVH materials globally.
Automotive Noise, Vibration & Harshness (NVH) Materials Market The availability of additional products that alleviate NVH in automobiles is hindering the growth of the automotive NVH materials market globally. These materials are expansively being used for decreasing excessive noise and vibrations from vehicles. Moreover, the availability of various substitutes such as advanced active noise control systems, which uses less manual input and avoid the diffusion of vibrations and excessive noise to passenger cabins. Furthermore, these factors are hindering the growth of automotive NVH materials globally.
Automotive Noise, Vibration & Harshness (NVH) Materials Market Geographically, Asia Pacific have been contributing largest revenue and is expected to generate $6.2 billion by 2024. The largest share of this market is accounted towards increasing usage of automotive NVH materials in the passenger’s vehicles particularly in countries such as India and China. Moreover, the growth of this market in this region is due to growth in automotive industry that is enhancing the demand for automotive NVH materials. Furthermore, it has been observed that in North America, the U.S. holds largest market for automotive NVH materials and this domination is anticipated to endure during the forecast period. 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.
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