A moldable heat shield with a needled nonwoven core layer and needled nonwoven shell layers. The core layer has a blend polyester staple fibers and low melt polyester staple fibers. The shell layers have a blend of staple fibers of partially oxidized polyacrylonitrile, and staple fibers of polyester, and staple fibers of a low melt polyester. The layers are needled together such that fibers from the core layer do not reach the outer surfaces of the shell layers. The shell layers are calendared such that an outer surface layer is formed thereon, which provides the moldable heat shield with a water and oil resistant surface.