The Global Natural Fiber Composites Market is projected to reach a value of over USD 10.8 billion by 2027 at a CAGR of around 11.2%.
Natural fiber composites are composite materials which consist of a polymer matrix embedded with high strength natural fibers such as jute, oil palm, sisal, kenaf, and flax. Owing to the benefits offered by the natural fiber composite such as low production cost, low weight, right strength, good mechanical properties and resistance to fatigue has gained popularity in various industries. Moreover, raw materials used to manufacture natural fiber composite are environmentally friendly which makes them easily bio-degradable.
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Natural Fiber Composites Market: Drivers & Challenges
- Increasing Demand for Environmental Friendly Products
Increasing awareness regarding the harmful effects of the use of synthetic materials on the environment has led to the use of eco-friendly materials. For instance, according to the International Energy Agency (IEA), the global carbon emission grew by 1.7% in 2018 to a high of 33.1 Gt CO2. Natural fibers are sustainable materials which are easily available in nature and offers advantages such as low cost, lightweight, renewability, biodegradability, and high specific properties. This owing to its properties has resulted in an increasing demand for natural fiber composite in various industrial sectors. Thus, increasing demand for environmentally friendly products has expected to surge the demand for global natural fiber composites market.
- Use of Natural Fiber Composite in Packaging Industry
The packaging industry is one of the important branches of industry and is expected to experience strong growth during the forecasted period. This has attributed by rising population, increasing disposable income, changing lifestyle, increased media penetration through the internet, and others. With the growing packaging industry the use of synthetic materials such as polypropylene, polyethylene (PE), and others has expected to increase. However, these materials have poor degradability, owing to which manufactures have trend towards the use of biodegradable materials for packaging. Thus, growing packaging industry coupled with benefits of natural fiber composites has expected to pose opportunity in packaging industry during the forecasted period.
Natural Fiber Composites Market: Key Segments
- Segmentation based on fiber type: Wood Fiber Composite and Non-wood Fiber Composite.
- Segmentation based on technology: Injection Molding, Compression Molding, Pultrusion and Others.
- Segmentation based on application: Automotive, Electrical & Electronics, Construction, Sporting Goods and Others.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
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List of the leading companies operating in the Natural Fiber Composites Market include:
- UPM (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Tecnaro GmbH
- Weyerhaeuser Company
- PROCOTEX BELGIUM SA
- Trex Company, Inc.
- Polyvlies Franz Beyer GmbH & Co. Kg
- FlexForm Technologies
- Meshlin Composites Zrt.
- GreenCore Composites Inc.
- Kafus Bio-Composites Inc
- Advanced Environmental Recycling Technologies, Inc. (AERT)
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Natural Fiber Composites Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Natural Fiber Composites Market, by Fiber Type
- Wood Fiber Composite
- Non-wood Fiber Composite
Natural Fiber Composites Market, by Technology
- Injection Molding
- Compression Molding
Natural Fiber Composites Market, by Application
- Electrical & Electronics
- Sporting Goods
Natural Fiber Composites Market by Region
· Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
· North America (US, Canada, Mexico)
· Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
· Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
· South America (Brazil, Argentina, Rest of South America)
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