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Acoustic and Thermal Insulation Market Forecast, Detailed Analysis by Bis Research

In the wake of the projected depletion of the global crude oil sources and the rising concerns over air pollution in many cities, automotive manufacturers are developing electric vehicles (EVs) as affordable, dependable, and safe alternatives to internal combustion (IC) engine vehicles. Further, increasing legislation in many parts of the world to decrease exhaust emissions from vehicles have led electric vehicle manufacturers to develop battery-electric or fully electric vehicles (BEVs). Other types of EVs available are hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs). Electric vehicle sales have slowly gained momentum in many regional markets, but the market is still minuscule as compared to the global internal combustion engine-based vehicles market. As various projections indicate that electric vehicles will eventually dominate the automotive industry, many existing vehicle manufacturers, along with several new players, have started aligning their company goals toward producing electric vehicles. 
A major issue discovered along with the advent of EVs is the changes in noise, vibration, and harshness (NVH) properties of a vehicle. EVs are remarkably quieter than IC engine vehicles, mainly due to the absence of the noise produced from the gasoline engine and transmission systems. Therefore, EVs can glide across a road without contributing to any noise and air pollution. In fact, several regulatory bodies, such as National Highway Traffic Safety Administration (NHTSA) and the European Parliament, have passed regulations to add artificial sounds in electric vehicles to alert pedestrians while traveling at low speeds. Despite such a noticeable decrease in sound from an EV, there are other ancillary noises that are now prevalent in electric vehicles. These noises, which were previously drowned out in an internal combustion engine vehicle, are now audible in the absence of engine noise. An electric vehicle produces several new noises such as whining from powertrain drive and the electric motor, along with tire and external aerodynamic noises while the EV is moving. Buzz, squeak, and rattle (BSR) noise also become more apparent in an electric vehicle. Such ancillary noises hamper the driving experience and also disturb the acoustics from sound systems or haptic feedback while driving the vehicle. Under these conditions, acoustic insulation in an electric vehicle is of great relevance. The acoustic insulation quality in EVs needs to be enhanced to prevent not only noises entering the passenger cabin from outside the vehicle but also for noises from the insides of the vehicle, such as the vehicle HVAC system and the vehicle electric drive system. 
The global acoustic and thermal insulation market for electric vehicles has been segmented into material type, application type, and propulsion type. This research also analyzes the adoption of electric vehicle insulation materials in different regions and countries. The global acoustic and thermal insulation market for electric vehicle is expected to grow at a CAGR of 20.45% during the forecast period 2021-2031.
BEVs Expected to Dominate Global Acoustic and Thermal Insulation Market for EVs (by Propulsion Type):
The global acoustic and thermal insulation market for electric vehicles encompasses three major types of electric vehicles which are hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs). These vehicle types are present in the form of both passenger cars and commercial vehicles.
Asia-Pacific to Witness Fastest Growth in Acoustic and Thermal Insulation Market for EVs:
The demand for electric vehicle insulation materials varies according to various geographical regions. The electric vehicle insulation materials market holds a prominent share in various countries of North America, Asia-Pacific (APAC), and Europe. Government regulations, technological advancements, extensive investments for dedicated R&D facilities, and presence of areas with high sunlight are some of the major drivers that are propelling the growth of the market in the region. 
Business Drivers:
Need for Better Driving Experience - There is a keen interest in increased comfort and convenience inside a vehicle’s cabin. Many consumers seek customizable and optimized experiences in their vehicles. There is a need to create a unique vibro-acoustic environment that will be suitable for providing an enhanced vehicle quality, making it more appealing to new buyers of electric vehicles. The absence of internal combustion engines in electric vehicles gives rise to various buzz, squeak, and rattle (BSR) conundrums. These noises likely create an unsuitable driving experience, as the disturbances are generally more audible in electric vehicles than in IC engine vehicles since EVs don’t produce much sound. There is also a need to maintain a certain limit for the sound level inside the cabin of an electric vehicle.
North America Region:
Buyer Attributes - The North America electric vehicle market is considered the most evolved and competitive, with many big players, such as Tesla, Ford, and General Motors, operating in this region to drive the widespread adoption of BEVs and PHEVs. Due to a majority of the countries in this region having a high disposable income, along with various provisions and tax allowances provided by governments for buying new energy vehicles, there has been a rapid increase in the sales of electric vehicles in North America. With the increased sales of electric vehicles in this region, the acoustic and thermal insulation industry for electric vehicles has also grown over the years. Mainly, foams made of polyurethane are popular in North America. Due to PU foams varied usage for both acoustic and thermal insulation along with their higher R-value, these foams have gained popularity in the region. 
Key Manufacturers and Suppliers in North America:
? UFP Technologies 
? Janesville Acoustics 
? Adler Pelzer 
? Halco USA
Business Challenge:
? Technological advances and innovative solutions are still needed to increase efficiency, drive down costs, and enable utilities to rely on electric vehicles. 
Key questions answered in the Report
•    What are the key drivers and challenges for players in the acoustic and thermal insulation market for electric vehicles?
•    How does the supply chain function in the acoustic and thermal insulation market for electric vehicles?
•    Which material type segment is expected to witness the maximum growth in the acoustic and thermal insulation market for electric vehicles during 2021-2031?
•    Which are the key application areas from which different acoustic and thermal insulation materials experienced high demand during the forecast period, 2021-2031? 
•    Which are the players that are catering to the demand for different acoustic and thermal insulation materials?
•    What are the strategies adopted by market players involved in the acoustic and thermal insulation market for electric vehicles?
•    What are the key offerings of the prominent companies in the market for acoustic and thermal insulation for electric vehicles?  
•    Which regions and countries are leading in terms of consumption of acoustic and thermal insulation market for electric vehicles, and which of them are expected to witness high demand growth during 2021-2031?  
•    How is the market landscape for insulation material manufacturers expected to be formed for electric vehicles? 
•    What are the consumption patterns of acoustic and thermal insulation materials across different types of electric vehicles during the period 2021-2031? 
•    What has been the impact of COVID-19 on the acoustic and thermal insulation market for electric vehicles?
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