The Automotive Nonwoven Composites Market is likely to grow at a significant CAGR of 5.6% during 2023-2028, to reach US$ 3.1 Billion in 2028, states Stratview Research.
DETROIT, Sept. 28, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the automotive nonwoven composites market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.
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Report Highlights
Market Size in 2028 | US$ 3.1 Billion in 2028 |
Growth (CAGR) | 5.6% during 2023-2028 |
Forecast Period | 2023-2028 |
Trend Period | 2016-2021 |
Base Year | 2022 |
Number of Segments Covered | 6 |
Number of Tables & Graphs | 60+ |
Country-Level Market Assessment | 20 |
Segment Insights on Automotive Nonwoven Composites Market
The automotive nonwoven composites market is segmented based on vehicle type, matrix type, material type, application type, web formation type, and region.
Based on vehicle type- The automotive nonwoven composites market is segmented into automotive, recreational vehicles, and others. Automotive is expected to remain the largest demand generator for nonwoven composites during the forecast period. The key whys and wherefores behind the usage of nonwoven composites are extremely lightweight, strong, durable, flexible, easy to process, and can be made from recycled materials. These advantages are making nonwoven composites increasingly popular in a wide range of automotive applications. In addition to that, factors like increasing demand for electric vehicles (EVs) in upcoming years (EV sales are expected to reach 73 million units by 2040, rising from 10 million units in 2022) to reduce vehicle weight to improve range and overall performance, are expected to drive the market growth during the forecast period.
Based on matrix type- The market is segmented into bicomponent PET/coPET fiber, polypropylene, and others. Polypropylene is expected to remain the dominant whereas bicomponent PET/coPET fiber is expected to grow at the fastest rate in the market during the forecast period. Polypropylene can be easily molded and formed into complex shapes, allowing for design flexibility in automotive components. Nonwoven composites made from polypropylene can be customized to fit specific component requirements and geometry, enabling efficient manufacturing processes, and reducing production costs. In Europe, the nonwoven composite structure is typically made from polypropylene and PET fibers for underbody shields in most luxury vehicles.
Based on material type- The market is segmented into fiberglass composites, natural/wood fiber composites, polyester fiber composites, carbon fiber composites, and others. Fiberglass is expected to showcase an incredible lead in the market during the forecast period due to its high tensile strength and excellent resistance to impact, making them ideal for reinforcing nonwoven composites used in automotive applications. Fiberglass works as an excellent reinforcement material with polypropylene to form composite parts suited for door panels, underbody shields, floorboards, trunk trims, etc.
Based on application type- The market is segmented into door panels, trunk, packaged trays, headliners, underbody shields, wheel arch liners, center consoles, and others. Trunk, wheel arch liner, and headliner are likely to be the major application categories in the years to come. These application types are likely to grow at a healthy pace in the years to come. Nonwoven composites provide thermal insulation, sound insulation, strength, and stiffness in the interior of a vehicle along with impact absorption to protect occupants in the event of a collision or other impact situations.
Based on web formation type- The market is segmented into spunlaid, drylaid, and others. Drylaid is expected to remain the most dominant formation type in the market during the forecast period. Drylaid nonwovens are commonly used as the primary backing material for automotive applications. The entangled fiber structure provides dimensional stability, strength, and durability to withstand the demands of automotive use. Drylaid composites offer excellent resistance to wear, abrasion, and fading, while providing thermal and acoustic insulation properties.
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Which Region Offers the Best Opportunity and Growth?
The report suggests that Asia-Pacific is expected to remain the largest market for automotive nonwoven composites during the forecast period.
This growth is majorly attributed to the following –
- This region is home to some of the world's largest automotive markets, including China, Japan, India, and South Korea.
- The region has witnessed significant growth in automobile production (with 49 million units produced in 2022, which is 58% of total global production) as compared to other regions.
On the contrary, North America and Europe are also likely to create sizeable opportunities in the coming five years, due to high automobile production, stringent regulations, technological advancements, and consumer preferences for comfort and aesthetics.
Automotive Nonwoven Composites Market Drivers
Some of the key drivers listed in the report are given below.
- Increasing demand for electric and hybrid vehicles paired with increased composites content per vehicle.
- Increasing inclination of OEMs towards light-weighting.
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Top Companies in the Automotive Nonwoven Composites Market?
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the automotive nonwoven composites market. Most of the major players are providing nonwoven composites including nonwoven textiles.
- ABC Technologies Holdings Inc
- Adler Pelzer Group
- Auria Solution
- Autoneum
- Becchis Osiride
- Carcoustics
- DRÄXLMAIER Group
- ElringKlinger AG
- FORVIA Faurecia
- Grupo Antolin
- International Automotive Components (IAC)
- Röchling Automotive.
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 Automotive Nonwoven Composites 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 |
Which 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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