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

The global EV Nonwoven Composite market is projected to witness a growth rate of 15.0% annually from 2024 to 2031, with an anticipated size of US$ 2.9 billion by 2031, according to an analysis by 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 trends, segment analysis, competitive landscape, & more.

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Report Highlights

Segment Insights on the EV Nonwoven Composite Market:

The report dives deep into the segmentation of the EV Nonwoven Composite market based on critical parameters:

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.

Based on the 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.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

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 their adoption of mass-produced EVs.
• Growing investments in research and development for fire-resistant and high-performance composites further drive innovation and market expansion.

Top Companies in the EV Nonwoven Composite Market:

The global market for EV Nonwoven Composite is highly concentrated, with the top four companies capturing a lion’s share. Apart from technological expertise and financial capabilities, the growth of companies is directly dependent on government support and overall industry conditions. 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

Note: The above list does not necessarily include all the top players in the market.

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

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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