EV Nonwoven Composite Market is Forecasted to Reach US$2.9 Billion in 2031, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global EV nonwoven composite market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

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Market Statistics

Market Size in 2024: US$1.0 billion

Market Size in 2031: US$2.9 billion

Growth (CAGR): 15.0% during 2024-2031

Cumulative Sales Opportunity 2024 to 2031: US$15.96 Billion

Leading Application Type: Trunk

Leading End-Use Industry Type: BEV

Leading Material Type: Fiberglass Composites

Leading Matrix/Binder Type: Biocomponent PET/coPET

Leading Formation Type: Drylaid

Leading Region: Asia-Pacific

Forecast Period: 2024-2031

Trend Period: 2018-2022

Base Year: 2023

Number of Segments Covered: 6

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the EV Nonwoven Composite Market:

The global EV Nonwoven Composite market is segmented based on Application type, End-Use Industry type, Material type, Matrix/Binder type, Formation type, and region.

Based on Application type –

·      The market is segmented into door panel, trunk, packaged tray, headliner, underbody shield, wheel arch liners, center console, and other applications.

·      Trunk will continue to be the leading application for EV nonwoven composites. Nonwoven composites provide lightweight yet strong solutions, enhancing impact resistance, noise reduction, and thermal insulation in trunk components.

·      Additionally, the growing demand for sustainable and recyclable materials in EV manufacturing supports the adoption of nonwoven composites.

·      As EV production surges, manufacturers prioritize efficient space utilization and lightweight designs, making nonwoven composites an ideal choice for trunk liners and structural reinforcements.

Based on Material type –

·      The market is segmented into fiberglass composites, natural/wood fiber composites, polyester fiber composites, carbon fiber composites, and other Composites.

·      Fiberglass composites are anticipated to dominate the market with the highest share because they possess exceptional properties and extensive use in EVs. They have a high strength-to-weight ratio, which makes structural integrity higher while minimizing vehicle weight. Their high durability and corrosion resistance make them perfect for prolonged use.

·      Fiberglass composites also have exceptional thermal and sound insulation, which is important in EV efficiency and comfort. Also, they are economical in comparison to carbon fiber, and thus, they are a manufacturer's choice. Their use in applications like battery enclosures, trunk parts, and interior components further enhances their dominance.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that the Asia-Pacific is expected to remain the largest market. This growth outlook is majorly attributed to the following–

-      Asia-Pacific leads the EV nonwoven composites market because it is a world leader in EV manufacturing, and China, Japan, and South Korea are in the lead. The region is supported by an extensive automotive supply chain, facilitating low-cost production.

-      Government subsidies, policies, and emissions control push EV growth, fueling composite demand.

-      Urbanization and growing consumer needs also increase EV sales. Labor and production expenses are lower, making Asia-Pacific a cost-competitive manufacturing region.

-      R&D and innovation investments improve material performance and efficiency. These, as a whole, support the region's market leadership.

EV Nonwoven Composite Market Drivers:

Some of the key drivers listed in the report are given below.

-         The growing demand for lightweight materials that enhance energy efficiency and extend driving range. Nonwoven composites offer an excellent strength-to-weight ratio, making them ideal for EV applications such as battery insulation, interior components, and underbody protection. Their acoustic and thermal insulation properties improve passenger comfort and battery performance.

-         Strict government regulations on emissions and sustainability are pushing automakers to adopt recyclable and bio-based nonwoven composites, further fueling market growth.

-         The rapid expansion of the EV industry, supported by government incentives, technological advancements, and rising consumer demand for eco-friendly vehicles.

-         Nonwoven composites enhance vehicle safety, durability, and design flexibility, making them essential in structural and interior applications. Advances in manufacturing processes allow for cost-effective production, increasing the adoption of mass-produced EVs. growing investments in research and development for fire-resistant and high-performance composites further drive innovation and market expansion.

Competitive Landscape: Top Companies in the EV Nonwoven Composite Market:

The market is moderately fragmented, with over 20 players. Most of the major players compete on some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:

-         Fibertex Group

-         Freudenberg Group

-         Milliken & Company

-         TWE Group

-         Rochling Group

-         Glatfelter Corporation

-         Asahi Kasei Corporation

-         Ahlstrom Oyj

What Deliverables Will You Get in this Report?

Key questions this report answers

Relevant contents in the report

How big is the sales opportunity?

In-depth analysis of the EV Nonwoven Composite Market

How lucrative is the future?

Market forecast and trend data and emerging trends

Which regions offer the best sales opportunities?

Global, regional, and country-level historical data and forecasts

Which are the most attractive market segments?

Market segment analysis and forecast

Who are the top players and their market positioning?

Competitive landscape analysis, Market share analysis

How complex is the business environment?

Porter’s five forces analysis, PEST analysis, Life cycle analysis

What are the factors affecting the market?

Drivers & challenges

Will I get the information on my specific requirements?

10% free customization

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Stratview Research is a global market research and consulting firm that highly specializes in IT & Telecom, aerospace & defense, chemicals, and a few other industries.

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