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  • Heat Shield Market Business Strategies, Technological Innovation, Trends & Top Players by 2021

    (, September 06, 2021 ) The Automotive Heat Shield Market is estimated to be worth USD 11.7 billion in 2020 and is projected to reach USD 13.9 billion by 2025, at a CAGR of 3.4% during the forecast period. The growing adoption of electronics in automobiles, increasing demand for luxury vehicles, and technological advancements in heat shields are key factors driving the automotive heat shield market. The market has witnessed substantial growth in developing and developed countries.

    Asia Pacific is the largest market for automotive heat shields. The Asia Pacific automotive heat shield market accounted for 51.0% of the global market, by value, in 2020. The implementation of new technologies, establishment of additional manufacturing plants, and creation of value-added supply chains between manufacturers and material providers have created a platform for future growth in this region.

    Major players like Dana and Lydall are investing and increasing their footprint in the Asia Pacific market. For instance, in 2018, Dana inaugurated a plant that would manufacture thermal management products for conventional and new-energy vehicles in Yancheng, China. The rising penetration of such companies in Asia Pacific will drive the overall market.

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    China is the untapped heat shield market for many companies. Autoneum and Lydall are expanding their presence in the country. Autoneum expanded its presence in China with a plant for the production of lightweight acoustic and thermal management components in the eastern Chinese city of Yantai in 2016. Chinese vehicle manufacturers are supplied with thermal components from Yantai since then.

    Increasing innovations and investments in automotive systems such as powertrain and engine technologies have escalated the demand for efficient heat shield solutions. However, due to the COVID-19 pandemic, major Tier I component manufacturers and OEMs have postponed or limited the developments and investments for financial stability during the pandemic. In addition, leading heat shield manufacturers such as Dana and Morgan Advanced Materials have adopted immediate measures to preserve cash and safeguard financial flexibility due to the pandemic. These players are less likely to invest in new product development as COVID-19 has caused significant damage to the whole automotive ecosystem and vehicle sales have bottomed rapidly. Such enforced measures would restrict the growth of lightweight non-metallic heat shields.

    The turbocharger heat shield provides thermal insulation for the automotive turbocharger. It usually takes the form of coatings, wraps, or blankets. The turbocharger heat shield reduces turbo lag while serving as a heat barrier that shields and protects engine components, hoods, and painted surfaces from radiant heat. The automotive industry has always been under the regulations of authorities to adhere to guidelines issued as per initiatives. OEMs are compelled to develop products compatible with the present regulatory environment. The regulations demand lesser carbon emissions from vehicles by reducing the engine size and number of cylinders. To maintain high power output of engines, turbochargers or super chargers are added. The turbochargers are provided with heat shields for effective operations. Rising penetration of turbochargers and compression engines is expected to increase the adoption of automotive heat shields, as turbochargers mandatorily need to be installed with heat shields. The turbocharger heat shield market is projected to grow at a CAGR of 7.0%, during the forecast period. The increasing demand for fuel-efficient vehicles and the growing trend of engine downsizing are expected to propel the demand for turbocharger heat shields in the coming years.

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    Mr. Aashish Mehra


    Source: EmailWire.Com


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