At 34.0% CAGR, Asia Pacific Nonwovens for Energy Applications Market is Projected to be Worth US$ 90,114.55 Thousand by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific nonwovens for energy applications market was valued at US$ 8,649.41 thousand in 2023 and is expected to reach US$ 90,114.55 thousand by 2031, registering a CAGR of 34.0% from 2023 to 2031. Increasing demand from renewable energy sector and increasing demand from renewable energy sector are among the critical factors attributed to drive the Asia Pacific nonwovens for energy applications market growth.

The renewable energy sector is experiencing rapid growth due to widespread efforts to combat climate change and enhance energy security. According to the International Energy Agency 2023 report, the global renewable power capacity is expected to increase in the next five years, of which solar PV and wind energy accounted for 96% of power capacity, as their power generation costs are lower than fossil and non-fossil alternatives. Solar PV and wind energy capacity are forecasted to double by 2028 compared to 2022. The continuous growth in the economic attractiveness of renewable energy industry coupled with increasing government policy support, especially in China, the US, the European Union, and India, are expected to accelerate capacity growth in the coming years. As per the Global Wind Energy Council, in 2022, a new wind power capacity of 77.6 GW was connected to power grids worldwide, recording a total installed wind capacity of 906 GW and registering growth of 9% compared with 2021.

In 2022, Asia Pacific remained the world’s largest wind energy market, with China contributing 87% of its 2022 capacity additions. Nonwoven separators are crucial in advanced battery technologies, as these separators improve safety, performance, and longevity for integrating renewable energy into the grid. Thus, the increasing demand from the renewable energy sector drives the Asia Pacific nonwovens for energy applications market.

On the contrary, fluctuation in raw material prices hampers the growth of Asia Pacific nonwovens for energy applications market.

Based on type, the Asia Pacific nonwovens for energy applications market is categorized into carbon fiber, titanium fiber, and others. The titanium fiber segment held 53.7% market share in 2023, amassing US$ 4,641.72 thousand. It is projected to garner US$ 45,384.40 thousand by 2031 to register 33.0% CAGR during 2023–2031.

By application, the Asia Pacific nonwovens for energy applications market is segmented into battery, Fuel Cell Gas Diffusion Layer (GDL), PTL fuel, and wind energy. The Fuel Cell Gas Diffusion Layer (GDL) segment held 40.6% share of Asia Pacific nonwovens for energy applications market in 2023, amassing US$ 3,509.17 thousand. It is anticipated to garner US$ 41,074.13 thousand by 2031 to expand at 36.0% CAGR during 2023–2031.

By country, the Asia Pacific nonwovens for energy applications market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that Germany captured 82.4% share of Asia Pacific nonwovens for energy applications market in 2023. It was assessed at US$ 7,125.68 thousand in 2023 and is likely to hit US$ 76,715.66 thousand by 2031, registering a CAGR of 34.6% during 2023–2031.

Key players operating in the Asia Pacific nonwovens for energy applications market are DeatexGroup S.r.l., Technical Fibers Products, Freudenberg Group, SGL Carbon SE, Lydall Inc, AstenJohnson Inc, and Hoftex Group AG, among others.

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