Automotive Venting Membrane Market
Automotive Venting Membrane Market - Global Industry Assessment & Forecast
- By Nature Hydrophobic, Hydrophilic, Oleophobic
- By Product Type PTFE & ePTFE Membranes, Polypropylene (PP) Membranes, Other Automotive Venting Membrane
- By Application Electronic Control Units, Motors, Sensors, Other Applications
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||USD 173.6 Million|
|Revenue 2028:||USD 208.4 Million|
|Revenue CAGR (2021 - 2028):||3.1%|
|Fastest Growing Region (2021 - 2028)||Asia Pacific|
|Largest Region (2021):||Asia Pacific|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
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- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
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Global Automotive Venting Membrane Market is valued at USD 173.6 Million in 2021 and 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.
The venting membranes are used to prevent the fuel tank from exploding due to pressure and temperature changes. The automotive industry is one of the major consumers of venting membranes. The growing demand for lightweight and fuel-efficient vehicles is driving the growth of the Automotive Venting Membrane Market. The Automotive Venting Membrane Market is driven by the rise in vehicle production, which is expected to grow at a CAGR of 4.5% during the forecast period. The increase in vehicle production is due to the increasing demand for vehicles from developing economies such as China, India, and Brazil. Stringent government regulations regarding vehicle safety are also fuelling the market growth. The venting membrane market is expected to grow significantly in the next few years. This is due to the increasing demand for better-performing, more efficient vehicles. Venting membranes play an important role in ensuring that engines run cooler and last longer. They also help to reduce noise and vibration. The rising demand for automobiles and the growing automotive industry are the major drivers for market growth. Moreover, the increasing awareness of environmental concerns and regulations is another factor driving the market growth. The Automotive Venting Membrane Market is growing at a rapid pace owing to the increasing demand for better fuel economy and emission reduction. The automotive industry is shifting its focus towards developing more fuel-efficient and environment-friendly vehicles. This is fueling the demand for lighter-weight materials and components in vehicles, which in turn is driving the growth of the Automotive Venting Membrane Market. The rising concerns over climate change and the need to reduce greenhouse gas emissions are also contributing to the growth of the market. Stringent government regulations regarding vehicle emissions are further boosting the demand for Automotive Venting Membranes. Aurizon Technologies Limited has recently released a new study titled "Global Vehicle Venting Membrane Market: Growth Opportunities and Market Dynamics 2016-2022." This study provides an overview of the Global Automotive Venting Membrane Market including definitions, classifications, and applications; current trends; major vendors and key players; and an analysis of the competitive landscape. The Asia-Pacific region is anticipated to be the fastest-growing market for Automotive Venting Membranes due to the booming automotive industry in countries such as China, India, and South Korea.
Automotive Venting Membrane Market Size, 2021 To 2028 (USD Million)
With the rising demand for automobiles, there is a corresponding increase in vehicle production. In 2020, global vehicle production reached 89.2 million units. The following year, global production increased by 1.7% to 91.5 million units. Global car production reached an all-time high of 102.3 million units in 2020, according to data compiled by researcher IHS Markit. This figure is up 2% from the previous year and represents the eighth consecutive year of growth. The main drivers of this trend are China and India, which account for more than half of all global car sales. Global car sales volumes are forecast to continue growing through 2022, reaching a total of 107.5 million units. This trend is expected to continue during the forecast period, thereby propelling the growth of the Automotive Venting Membrane Market. The rising awareness about the health hazards posed by the volatile organic compounds (VOCs) released from automotive parts is leading to the development of innovative technologies for their mitigation. Among these, Automotive Venting Membranes have emerged as a key solution for effective VOC management in vehicles. Automotive Venting Membranes are thin, flexible sheets that are placed between vehicle parts and act as a vapor barrier. However, the high cost of raw materials is restraining the market growth. In addition, the volatile nature of raw material prices is also hampering the market growth. Nevertheless, the growing demand from emerging economies is expected to provide opportunities for market growth in the future.
What drives the profit for businesses in the market?
As the Automotive Venting Membrane Market continues to grow, so does the need for manufacturers to produce products that meet the demands of this ever-changing market. To stay ahead of the competition, manufacturers must constantly innovate and introduce new products that address the needs of the market. Some of the main factors that drive innovation in the Automotive Venting Membrane Market are the need for lighter-weight materials. As vehicles become more fuel efficient, there is a need for lighter-weight materials that can be used in their construction. This has led to the development of new types of venting membranes that are made from lighter-weight materials such as polyurethane and PVC. The need for better durability: As cars become more expensive, customers are demanding products that have a longer lifespan. This has led to manufacturers developing new types of venting membranes that are more durable and resistant to environmental factors such as UV light and extreme temperatures. The need for better performance: With the increasing popularity of high-performance cars, there is a need for products that can help improve their performance. This has led to the development of new types of venting membranes that are designed to improve airflow and reduce wind noise.
Top Market Trends
The Automotive Venting Membrane Market is constantly evolving and changing. New trends are always being set to keep up with the ever-changing needs of the automotive industry. Some of the most recent trends that have been set for the market include:
- The use of high-performance materials: To meet the increasing demands for better fuel economy and emissions reduction, automotive manufacturers are increasingly using high-performance materials in their vehicles. This includes materials such as lightweight metals, composites, and even plastics.
- Increased focus on aerodynamics: Another trend that has been gaining traction in recent years is the increased focus on aerodynamics. This is because aerodynamic efficiency can help improve fuel economy and reduce emissions. Automotive manufacturers are therefore designing their vehicles to be more aerodynamic to meet these needs.
- Electric and hybrid vehicles: With the rise in concerns over climate change, there has been an increased focus on electric and hybrid vehicles. These types of vehicles emit far less greenhouse gasses than traditional petrol or diesel vehicles, making them a more environmentally friendly option. As a result, we are seeing more and more electric and hybrid vehicles on the market.
- Connected and autonomous vehicles: Finally, another trend that is starting to gain traction in the automotive industry is connected and autonomous vehicles. These types of vehicles can communicate with each other and even operate without a human driver.
The Global Automotive Venting Membrane Market is segmented based on Nature, Product Type, Application, and Region. Based on Nature, the market is classified into Hydrophobic, Hydrophilic, and Oleophobic. Furthermore, based on Product Type, the market is segmented into PTFE and ePTFE Membranes, Polypropylene (PP) Membranes, and Other Automotive Venting Membranes. In addition, based on Application, the Automotive Venting Membrane Market is divided into Electronic Control Units, Motors, Sensors, and Others. Region-wise, the Global Automotive Venting Membrane Market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Below tree is interactive. You can click the nodes to get more information.
Based on Nature
The majority of Automotive Venting Membrane nature produced globally in 2021 is Hydrophobic (48.6%), followed by Hydrophilic (30.4%), followed by Oleophobic (21.0%). The hydrophobic and hydrophilic segments are expected to account for the majority of the market share during this period. The hydrophobic segment is dominated by silicone, PVC, and PTFE membranes. These membranes are less prone to water absorption and are more effective in resisting water permeation. The hydrophilic segment is dominated by polyurethane membranes, which are more permeable to water but have better gas barrier properties. The oleophobic property helps to prevent oil and grease from leaking out. By 2028, the hydrophilic venting membrane continues to be the largest segment of the Automotive Venting Membrane Market, but its market share has decreased to about 50%. This is mainly due to the increasing demand for alternative fuels such as electric vehicles and hybrid vehicles. The oleophobic venting membrane will capture a larger market share than in 2022, accounting for about 55% of the overall Automotive Venting Membrane Market. This increase in demand is attributed to the increasing concerns over air quality factors such as spores and pollen counts, which are adversely affected by exposure to environmental pollutants.
Based on Product Type
The PTFE and ePTFE membranes are expected to dominate the market during the forecast period. These membranes are ideal for applications such as air conditioning, fuel injection, and exhaust systems. Polypropylene (PP) membranes are also gaining popularity due to their low cost and good mechanical properties. Other types of Automotive Venting Membrane products include stainless steel, carbon fiber, and aluminum membranes.
Based on Application
The passenger car segment will account for the largest share of the overall market in 2022, followed by light commercial vehicles in 2023, and heavy commercial vehicles in 2024. The electronic control units market will be the largest in terms of revenue and will grow at a CAGR of 6.9% from 2022 to 2028. This is due to the increasing demand for advanced safety and fuel efficiency features in vehicles. The motor market will be the second largest and grow at a CAGR of 5.4% from 2022 to 2028. This is because the advent of new energy-efficient motors has led to increased demand for Automotive Venting Membranes. The sensor market will be the third largest and grow at a CAGR of 5.2% from 2022 to 2028. This is because the increasing number of sensors being used in various applications such as driver assistance, navigation, and security are driving the growth of the sensor market. The other segment will grow at a CAGR of 4% from 2022 to 2028.
Based on Region
The Automotive Venting Membrane Market in North America is expected to grow at the highest rate during the forecast period. This is due to the increasing number of stringent emissions regulations in this region. In Europe, the Automotive Venting Membrane Market is estimated to be the second largest, followed by Asia Pacific. Latin America and Middle East & Africa are projected to be the smallest market segments during the forecast period. Latin America is expected to be the third-largest region in terms of the Automotive Venting Membrane Market from 2022 to 2028. This is primarily due to the increasing adoption of these membranes by commercial vehicle manufacturers. Moreover, growing concerns over air quality are also contributing to the growth of this market in Latin America.
The key players in the Global Automotive Venting Membrane Market include- 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.
- As the automotive industry looks for ways to improve fuel efficiency and reduce emissions, one area of focus is the engine's air intake system. The air intake system includes the air filter, mass airflow sensor, throttle body, and intake manifold. To get more air into the engine, some automakers are using a vented membrane in the intake system.
- Vented membranes are made from a variety of materials, including polyurethane, polypropylene, nylon, and PVC. These come in a variety of thicknesses, from 0.5mm to 10mm. Vented membranes can be found in a variety of shapes and sizes to fit nearly any application and can be customized with different colors, logos, or patterns.
- In terms of production methods, new techniques have been developed that allow for greater efficiency and lower costs. For example, some manufacturers have begun using roll-to-roll methods, which allow for continuous production with fewer steps. This results in shorter production times and less waste.
- DowDuPont Company (U.S.) announces plans to invest $100 million in research and development over the next three years for new automotive technologies.
- Some of the key developments by these companies during this period include the launch of new sensors and actuators for air conditioning and engine cooling systems, as well as the development of artificial intelligence (AI)–based safety systems.
- The EU has set a target of having 50% of all cars manufactured in 2030 be electric. This is expected to drive the demand for automotive venting systems. In addition, India is considering a ban on petrol and diesel vehicles by 2030, which is expected to boost demand for air conditioning systems and other automotive venting solutions.
Segmentation of the Global Automotive Venting Membrane Market
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
What is the global demand for Automotive Venting Membrane in terms of revenue?
The global Automotive Venting Membrane valued at in 2020 and is expected to reach in 2028 growing at a CAGR of 3.1%.
Which are the prominent players in the market?
The prominent players in the market are 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).
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 3.1% between 2021 and 2028.
What are the driving factors fueling the growth of the market.
The driving factors of the Automotive Venting Membrane include
- Growth in automotive production and vehicle parc
Which region accounted for the largest share in the market?
Asia Pacific was the leading regional segment of the Automotive Venting Membrane in 2020.