Natural Fiber Composites Market Growth Trend & Forecast with latest research study released by Delvens evaluating the market risk side analysis, highlighting opportunities, and leveraging strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global market, 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 to 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.
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.
The Prominent Players in the Natural Fiber Composites Market:
- 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
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.
- 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.
- 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 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.
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