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 market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2031: US$ 2.9 billion
Growth (CAGR): 15.0% during 2024-2031
Forecast Period: 2024-2031
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 6
Number of Tables & Graphs: 100+

Segment Insights on 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.

To know the most attractive segments, visit:
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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.

Top Companies in the EV Nonwoven Composite Market:
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.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the EV Nonwoven Composite Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting 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.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.