WHAT IS THE SIZE OF GLOBAL NATURAL FIBER REINFORCED COMPOSITES INDUSTRY?
Global Natural Fiber Reinforced Composites market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
The Natural Fiber Reinforced Composites Market is largely driven by rising environmental concerns and rising use of bio-based fiber composite in the automotive industry.
The rising use of bio-based fiber composite in the automotive industry is driving the market as these are widely used in the fabrication of electric car components because of their lightweight qualities. Due to their competitive stiffness and strength compared to other synthetic fibers as well as their better acoustic insulation properties, these composites are also employed in vehicle door panels, floor panels, underfloor pans, seat backs, and trunk liners.
By 2025, the Chinese government plans to have at least 5,000 fuel cell electric vehicles on the road, and by 2030 this number is expected to reach one million. The Chinese market for natural fiber reinforced composites is anticipated to be driven by the government’s promotion of electric, hybrid, and fuel cell electric vehicles.
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Furthermore, the supply chain was interrupted by lockdowns all over the world in 2020 and further restrictions in 2021, which posed difficulties for manufacturers in the market for natural fiber reinforced composites. The market for natural fiber reinforced composites is rapidly returning to its pre-COVID levels, and over the course of the forecast period, a solid growth rate is anticipated, led by the economic recovery in the majority of emerging countries.
GLOBAL NATURAL FIBER REINFORCED COMPOSITES MARKET BY FIBER TYPE
The Global Natural Fiber Reinforced Composites market is segmented by Fiber Type into Wood Fiber Composites and Non-wood Fiber Composites – Flax, Hemp, Jute, Kenaf, Sisal and Others.
Wood Fiber Composites held the largest market share in 2022 for the Global Natural Fiber Reinforced Composites Market.
Composites with wood fiber reinforcement are highly in demand in major parts of the world due to their major applications in different sectors like construction, automotive, and others. It can be used for trim, molding, fencing, and decking, among other things.
GLOBAL NATURAL FIBER REINFORCED COMPOSITES MARKET BY POLYMER
The Global Natural Fiber Reinforced Composites Market is segmented by Polymer into Thermosets and Thermoplastics.
Thermosets polymer segment held the largest market share in 2022 for the Global Natural Fiber Reinforced Composites Industry.
Thermosets polymer’s qualities include low density, low cost, great flexibility, plentiful availability, and eco-friendliness, natural fiber reinforced thermoset composites are the ideal substitute materials for synthetic fiber reinforced composites.
Aerospace, wind energy, sporting goods, and automotive are some end-use industries that are increasingly using thermoset fiber composites.
GLOBAL NATURAL FIBER REINFORCED COMPOSITES MARKET BY END-USER
The Global Natural Fiber Reinforced Composites market is segmented by End-User into Aerospace, Automotive, Building and Construction, Electrical and Electronics, Furniture and Others.
Automotive industry held the highest market share in 2022, in the Global Natural Fiber Reinforced Composites Market.
In the automotive sector, natural fiber-reinforced bio-composites are utilized to create lightweight components with good mechanical qualities to increase fuel economy and lower CO2 emissions. It helps reduce the weight of a car by 30% and the cost by 20% during manufacturing.
Key Topics Covered in the Report
- Snapshot of Global Natural Fiber Reinforced Composites Market
- Industry Value Chain and Ecosystem Analysis of Natural Fiber Reinforced Composites Market
- Market size and Segmentation of Global Natural Fiber Reinforced Composites Market
- Historic Growth of Overall Global Natural Fiber Reinforced Composites Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Natural Fiber Reinforced Composites Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- Covid 19 Impact on the Overall Global Natural Fiber Reinforced Composites Market
- Future Market Forecast and Growth Rates of the Total Global Natural Fiber Reinforced Composites Market and by Segments
- Market Size of Fiber Type / End-User Segments with Historical CAGR and Future Forecasts
- Analysis of Natural Fiber Reinforced Composites Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Production/Supply and Consumption/Demand Hubs in Each Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within each Major Country
Major Companies Profiled in the Report
- Trex Company Inc.
- UPM Biocomposites
- The AZEK Company LLC
- FlexForm Technologies LLC
- GreenCore Composites
- Green Dot Bioplastics Inc.
- Procotex Corp SA
- Polyvlies Franz Beyer GmbH
- Amorim Cork Composites SA
- NPSP BV
- Tecnaro Gmbh
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Notable Emerging Companies Mentioned in the Report
- Leigh Fibers
- Environmental Composites
- Shijiazhuang Bairuisite Cellulose Co LTD
- MCG BioComposites LLC
- Composite ReFiber Types
- Gi Natural Fibre Composites Pvt. Ltd.
- Engineered Fibers Technology LLC
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Natural Fiber Composites Companies
- Natural Fiber Composites Providers
- Natural Fiber Composites Manufacturers
- Natural Fiber Composites Suppliers
- Natural Fiber Types Researchers
- Vehicle Manufacturers
- Jute Natural Fiber Composite Manufacturers
- Flax Natural Fiber Composite Manufacturers
- Hemp Natural Fiber Composite Manufacturers
- Sisal Natural Fiber Composite Manufacturers
- Kenaf Natural Fiber Composite Manufacturers
- Construction Companies
- Electronics Manufacturers
- Furniture Manufacturers
- Wood Fiber Manufacturers
Time Period Captured in the Report
- Historical Period: 2019-2021
- Forecast Period: 2022-2030F
For more insights on the market intelligence, refer to the link below
Global Natural Fiber Reinforced Composites Market