Market Leader - Low-Frequency Sound-Absorbing Insulation Material Market
The low-frequency sound-absorbing insulation material market is estimated to be USD 151 million in 2020 and is expected to reach USD 165 million by 2025, at a CAGR of 1.8% during the forecast period. Factors such as several regulatory authorities guide and regulate the North American automotive industry, including Federal Motor Vehicle Safety Standards (FMVSS) and National Highway and Traffic Safety Administration (NHTSA) regulate the vehicle and road safety norms. In Canada, Canada Motor Vehicle Safety Standards (CMVSS) is the regulatory body for traffic and automobile safety. Europe is the key market for Low-frequency sound-absorbing insulation materials, globally, followed by North America.
Major players profiled in the report include Saint-Gobain (France), Autoneum (Switzerland), 3M (US), DuPont (US), BASF (Germany), Mitsubishi Chemical Holdings (Japan), and Stevens Insulation LLC (US).
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Players in the antimicrobial plastics market are mainly concentrating on the strategies of new product launch/development, contract & agreement, partnership & collaboration, joint venture, and expansion to meet the growing demand for antimicrobial plastics in various applications.
The growth of the low-frequency sound-absorbing insulation material market has been largely influenced by acquisition strategy. The adoption of the strategy of acquisution has helped companies to strengthen their product portfolio and meet the specific demands of customers. Companies such as Saint-Gobain (France) and 3M (US), and Mitsubishi Chemical holding (Japan) are adopting these strategies to maintain their premium position in the market.
Saint-Gobain (France) is one of the players in the low-frequency sound-absorbing insulation material market. The company is focusing on enhancing its product portfolio by the acquiring other players present in this market. For instance, Saint-Gobain acquired Pritex (UK), a key company in the thermo-acoustic insulation solutions market. The acquisition will enable the mobility business unit of Saint-Gobain High Performance solutions to expand its business model beyond automotive glazing and offer advanced solutions in the mobility market for comfort, safety, and energy savings.
Companies also adopted expansion of production capacity as a strategy to expand their market presence. For instance, in April 2018, Saint-Gobain has increased its glass production capacity for automotive market through its joint venture with a Chinese group, JJG, almost doubling the production of basic glass.
Similarly, In November 2019, Autoneum launched a new material, Hybrid-Acoustics PET. Compared to conventional insulation material, this is up to 40% lighter. They are also flameproof and are used in powertrain-mounted insulators for combustion engines. They have a temperature resistance of up to 180°C.
Related Reports:
Low-Frequency Sound-Absorbing Insulation Materials Market by Type (Foam, Others), Application (Under the Bonnet, Interior) and Region (Europe, North America, Rest of the World) - Global Forecast to 2025
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