Automotive noise, vibration, and harshness (NVH) materials refer to the substances or agents that are capable of reducing or blocking NVH originating from parts of vehicles such as engine box, steering wheel, and brakes and accelerator paddles. The NVH is generally sensed at the steering wheel, engine box, seat, armrests, and the floor and pedals of the vehicle. According to a new report published by P&S Intelligence, the automotive NVH materials market size is projected to grow at a decent pace during the forecast period. The market size is projected to cross $11.4 billion by 2023. The market growth is mainly driven by growing demand of automobiles worldwide and increasing concerns regarding reduction in fuel consumption and emission.
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Geographically, Europe has been recording the third largest revenue in the global market, with an estimated contribution of 13.6% in 2017, in terms of value. The market growth in the region is driven by high production of vehicles and the presence of a well-established automotive industry; for instance, as per European Commission, the automotive industry accounts for 4% of the region’s GDP. This only indicates a high demand of automobiles in the region.
Europe is among the world's biggest producers of motor vehicles. For instance, as per Consumer News and Business Channel (CNBC), in March 2016, new car registrations in the region increased by 6% compared to March 2015, reaching more than 1.7 million units. With increase in demand of automobiles, the requirement of NVH also increases as consumers are shifting to more comfortable and eco-friendly vehicles. Hence, increase in production of automobiles is fuelling the market growth in the region.
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Among the countries, Germany has been recording the highest volume sales in the European automotive NVH materials market. This is mainly due to the fact that the automotive industry in Germany observed an increase in the number of registered vehicles which is expected to boost the demand for automotive NVH materials. Furthermore, the country has the largest fleet of vehicles across Europe, and is a major exporter, producer, and consumer of used cars.
Also, many leading manufacturers in the region are undergoing mergers and acquisitions in order to develop NVH-free materials and thereby, cater to the growing demand. For instance, in 2016, Lanxess AG, a Germany based manufacturer of specialty chemicals collaborated with Saudi Aramco (a company engaged in the oil and gas sector), to form a joint venture called ARLANXEO. Through this joint venture, both the companies agreed to work together for the production, marketing, and distribution of synthetic rubber used in the global tyre industry, auto-parts materials manufacturing and a wide range of other applications.
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