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Automotive Cabin Insulation Market Overview
The global automotive cabin insulation market is projected to witness considerable growth during the forecast period, primarily on account of growing use of textile material in interior of a cabin. The industry is anticipated to grow significantly, due to high demand for cabin insulations and ride refinements. In addition, the growth of the automotive industry is a direct result of rising sales of passenger cars and commercial vehicles in recent years, which eventually resulted in the growth of the market.
The automotive cabin insulation market is categorized on the basis of vehicle type into high-performing vehicles, sport-utility vehicle (SUVs), premium vehicles, and others. The utilization of insulation is maximum in premium vehicles, which is driven by the need to maintain a high standard of quality. However, the demand for proper cabin insulation is consistent in all types of vehicle, which in term, will boost the growth of the market in the coming years.
Based on materials, the automotive cabin insulation market is categorized into thermoplastic and polyurethane (PU) foam. The U.S., European, and Korean automotive markets are mostly dominated by PU foam, due to the preference toward high quality and comfort. Whereas, the Chinese automotive industry is driven by thermoplastic material, owning to low cost and high sound absorption quality. However, the most prominent material used in cabin insulation was PU foam in the historical years, and its demand is expected to increase in the coming years.
During the forecast period, Asia-Pacific (APAC) is expected to be the largest market for automotive cabin insulation, with China, Japan, and India being the major markets in the region. The automotive cabin insulation market in the APAC region is mainly driven by rising demand for personal transportation vehicles and improving standard of living.
Automotive Cabin Insulation Market Dynamics
The automotive industry is growing at a significant rate and it is a major growth driver for the automotive cabin insulation market. Focus on developing a pleasing experience inside a vehicle is also a driving factor for the growth of the market. The demand for passenger cars and light commercial vehicles is on the rise, much of which can be attributed to the rise in per capita income and standard of living in fast-growing economies such as China and India. These economies also serve as a major market for the automotive industry because of their rapid urbanization and growing consumer base.
Besides, the governments initiatives across the world to counter noise pollution is another driving factor for the growth of the automotive cabin insulation market in the coming years. In most countries, it has become mandatory to maintain a cabin perceived noise as low as 72 dB for all standard vehicles on road. This causes a rapid increase in the demand for automotive cabin insulation.
Major factor for the constrain of the automotive cabin insulation market is inconsistency in the availability of standard materials, which are used in manufacturing of automotive cabin insulation. The materials available in each region differ from one another, which become a major factor for the rise in the cost of production, owning to lack of economies of scale. This could be a reason for causing hinderance in the path of growth of the market in the coming years.
Automotive Cabin Insulation Market Competitive Landscape
The global automotive cabin insulation market comprises both public and private players and is mainly characterized by increasing investments toward product development and growing number of partnerships and strategic acquisitions between players as an effort toward strengthening their market position. Some of the key players in the market are Autoneum Holding AG, BASF SE, 3M Co., Autins Group PLC, Grupo Antolin Plasbur S.A., L&L Products Inc., Nitto Denko Corp., Pritx Ltd., and Blachford UK Ltd.
The report will also provide country-wise analysis of the market. Some of the major countries covered in the report are the U.S., Canada, Mexico, the U.K., Germany, France, Spain, Italy, the Netherlands, China, India, Japan, Thailand, the U.A.E., Brazil, and Australia.