Natural Fiber Composites Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The global Natural Fiber Composites market size was estimated at USD 328.2 million in 2023 and is projected to reach USD 496.4 million in 2030 at a CAGR of 6.1% during the forecast period 2023-2030.
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Fiber-reinforced composites are in reasonably high demand. They are not eco-friendly, though, and are pricey. These fibers cannot be recycled or renewed. Regulations for the automobile sector have been introduced in several Asian and European Union nations.
In accordance with laws adopted by the European Union in 2006, 80% of cars must be recycled or reused; in the 2015 version, this percentage increased to 85%. A 2015 rule in Japan mandates that 95% of automobiles should be recycled or repurposed. The usage of glass fiber composites is also constrained by limitations including high fiber density, low recyclability, handling dangers, and other issues. Natural fiber composites benefit from the shortcomings of glass fiber composites.
Key Findings of Natural Fiber Composites Market:
· By fiber type, Load-bearing structures including beams, roofs, multifunctional panels, water tanks, and pedestrian bridges are made using natural fiber composites. NFCs are also used to create structural beams and frames for pedestrian bridges with light to medium design loads. Moreover, natural fiber composites are utilized to make beams because of their lower cost, lower density, and favorable environmental consequences, such as the need for less energy and carbon dioxide during manufacture compared to synthetic composites.
· By technology, The market is divided into injection molding, compression molding, and other categories based on technology. In 2022, the category that dealt with injection molding had the biggest market share. A common manufacturing procedure for mass production is injection molding. The popularity of injection molding is largely due to great processability, despite the fact that the reinforcing fiber deteriorates throughout the procedure. The domination of the injection molding market is a result of rising demand for composite materials from the automotive, hardware/apparatus, medical, and bundling industries.
· By application, The market is divided into automotive, electronics, construction, and other applications. In 2022, the automotive industry accounted for the highest market share. Automobile manufacturers all over the world have increased their investments as a result of the growing demand for hybrid and electric vehicles. The world's booming automobile business continues to play a significant role in the market expansion for natural fiber composites.
· The market is divided into four regions based on geography: North America, Europe, Asia-Pacific, and LAMEA. With a sizable population and a developing middle class, the Asia-Pacific area is one of the regions of the globe that is expanding the quickest. The Asia-Pacific region is experiencing rapid industrialization, which is driving demand for lightweight and high-performance materials.
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The prominent players in the Natural Fiber Composites market are
· Trec Company, Inc.
· FlexForm Technologies
· Fiberon Technologies, Inc.
· The AZEK Company LLC
· Polyvlies
· Procotex
· DuPont
· GreenCore Composites Inc.
· Meshlin Composites Zrt
· GreenGran B.V.
· UPM
· Plasthill Oy
· Green Dot Bioplastics Inc
· Tecnaro GmbH
· Jelu-werkJ
· Ehrler GmbH & Co.
· Bcomp Ltd.
· Lingrove Inc and More
North America to Dominate the Market
· Natural fiber composites are increasingly used in a variety of industries, including automotive, electrical & electronics, and building & infrastructure, which is primarily driving the growth of the natural fiber composites market in Asia Pacific. Countries like China, India, and Japan dominate the market in these end-use industries.
· The Asia Pacific area is the leader in the world's building and construction sector, which enjoys significant growth there due to substantial infrastructure development activities in the majority of countries. Large-scale infrastructure projects, building & construction projects, as well as civil and environmental applications, are being funded by emerging economies including China, India, Japan, Malaysia, Indonesia, and South Korea.
Natural Fiber Composites Market by Fiber Type, by Technology, by Application, by resin type, and region:
Based on Fiber type
· Wood
· Cotton
· Flax
· Kenaf
· Hemp
· Others
Based on the Resin type
· PP
· PE
· PA
· Others
Based on the Manufacturing Process
· Compression Molding
· Injection Molding
· Pultrusion
· Others
Based on End-use
· Automotive
· Electronics
· Sporting Goods
· Building & Construction
· others
Based on Matrix Outlook
· Inorganic Compound
· Natural Polymer
· Synthetic Polymer
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