Top Companies in Automotive Venting Membrane Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research Market
Automotive Venting Membrane Market is projected to reach a value of USD 208.4 Million by 2028 at a CAGR (Compound Annual Growth Rate) of 3.1% over the forecast period.
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Market Overview
The Global Automotive Venting Membrane Market is valued at USD 173.6 Million in 2021 and is projected to reach USD 208.4 Million by 2028 at a CAGR of 3.1% over the forecast period. The market expansion is expected to be aided by growing consumer product knowledge. The device, which sends sound through speakers and microphones, is thought to speed up market growth. It provides a workable solution and extends the useful life of gaskets and seals on equipment. Because the product improves the functionality of electronic devices, market growth is anticipated.
A growing number of automotive industries worldwide are meeting the demand for vehicle ownership, encouraging the growth of the Automotive Venting Membrane market. The high demand for the most recent electrical components due to their increased performance and efficiency is another factor driving market demand.
Additionally, the expanding consumer demand for electronics products will speed up industry growth. The development of new Automotive Venting Membranes to increase the dependability of electronic enclosures has been identified as one of the market's key trends.
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Amidst Exponential Growth in Automotive Venting Membrane Adoption, What Trends Should We Look Forward to?
- To keep up with consumer requirements for better fuel economy and emissions reduction, automotive manufacturers are incorporating more and more high-performance materials into their vehicles. This applies to substances like composites, plastics, and lightweight metals.
- The increased emphasis on aerodynamics is a trend that has been picking up steam recently. This is so that aerodynamic efficiency can increase fuel efficiency and lower emissions. To satisfy these demands, automakers are designing their vehicles to be more aerodynamic.
- The use of innovative materials is one trend that is anticipated in the vehicle venting membrane market. To stay up with consumer demands for higher fuel efficiency and pollution reduction, automakers are incorporating more and more high-performance materials into their vehicles.
- The growing demand for EVs is a trend that will persist in the Automotive Venting Membrane market. Due to its increased demand worldwide, electronics are being employed in automobiles more frequently to enhance the driving experience and simplify operations. Electronic components are more compact than mechanical components, are lighter, and provide greater accuracy.
The Automotive Venting MembraneMarket is dominated by globally established players such as Membrane Solutions LLC (US), Rogers Corporation (US), Clarcor Industrial Air (US), Advantec MFS Inc. (US), Hangzhou IPRO Membrane Technology Co. Ltd. (China), Sterlitech Corporation (US), Porex Corporation (US), Sumitomo Electric Industries Ltd. (Japan), Trinity Technology Group (US) and others. These companies have developed new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth Automotive Venting Membrane market.
Let's Look at the Top 5 Companies That are Taking the Automotive Venting Membrane Market by Storm
The Automotive Venting Membrane Market is expected to grow from USD 173.6 million in 2021 to USD 208.4 million in 2028 because of increased living standards, rising per-capita income, urbanization, etc. High-end investments in technological advancements and infrastructure upgrades, such as the installation of driver assistance systems in cars and the connected vehicle system, create a wide range of opportunities for market expansion.
- Rogers Corporation(US)
Rogers Corporation uses automotive vent membranes to enable innovation and advancements in specialty applications' dependability, efficiency, and performance. Our team offers solutions to enable technology for a cleaner, safer, and more connected world through advanced materials, application expertise, global resources, co-engineering, and design collaboration.
- Advantec MFS Inc.(US)
Advantec serves as the company's overseas branch and is responsible for the global marketing of Advantec goods and technologies, such as automotive vent membranes. It continues to receive favorable reviews from research institutions that fall under the federal and state governments in official testing and investigation areas.
- Hangzhou IPRO Membrane Technology Co. Ltd.(China)
Hangzhou IPRO has long plowed the automotive industry with its long-term technological accumulation, R&D, and ePTFE membrane production capacity. It has developed into a supplier for many significant automotive companies by researching the application scenarios for ventilation solutions in automotive parts and eventually forming an entire set of automobile waterproof and air permeability solutions.
- Sterlitech Corporation(US)
The leading manufacturer of innovative micro and sub-micron filtration products is Sterlitech. By keeping them at the forefront of their respective industries, customizing solutions to meet specific needs, and addressing the demands of emerging technologies like automotive vent membranes, it aims to support its customers.
- Porex Corporation(US)
With the help of our customers, Porex Corporation, a division of FILTRATION GROUP, has been collaborating on engineering and design advances like insulin for almost 60 years. Porex creates high-value solutions to their product design problems in absorption, application, diffusion, filtration, venting, and wicking through a cooperative engineering relationship.
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