Global Natural Fiber Reinforced Composites Market to Reach $12 Billion by 2030 at a 9% CAGR

DUBLIN, Dec. 15, 2022 /PRNewswire/ -- The "Global Natural Fiber Reinforced Composites Market Size, Segments, Outlook, and Revenue Forecast 2022-2030 by Fiber Type, Polymer, End-user Industry, and Region" report has been added to  ResearchAndMarkets.com's offering.

Natural fiber composites (NFCs) are a type of composite material in which the reinforcing fibers are generated from renewable and carbon dioxide-neutral fiber types like plants or wood. According to this analysis, the natural fiber reinforced composites market is expected to record a positive CAGR of over 9% during the forecast period (2022-2030) and is expected to reach approximately US$ 12 billion by 2030, owing to their greener nature and contribution to sustainable practice. Natural fibers have garnered significant interest from industry players and researchers for the utilization of polymer composites.

To better balance environmental concerns with social and economic issues, some sectors have transitioned toward sustainable technology which is in turn pushing up the natural fiber reinforced composites market.

The market for natural fiber reinforced composites is expanding primarily as a result of rising environmental concerns and the consequent rise in demand for bio-based composite materials. These composite fibers are made from several plants' bast, or outside stem. When compared to items made from oil, the use of these composites can cut carbon footprint by nearly 50%. These natural fibers are also up to 100% recyclable. All of these factors are fueling market expansion.

Another factor driving the market growth is the rising use of bio-based fiber composite in the automotive industry. 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.

• Natural fibers also possess a negative characteristic known as hygroscopicity which is posing a negative impact on the market because, when a hygroscopic material is pneumatically transported, it may collect moisture from the air being used to transport the material and become extremely cohesive, which will cause it to have poor flowability
• Natural fiber composites' susceptibility to moisture absorption has a number of detrimental implications on their characteristics, which in turn affects how well they perform over time. For instance, increased moisture reduces their mechanical qualities
• To prevent the issue different techniques are adopted, for example, wood flour is prevented from absorbing moisture due to its encapsulation by the polypropylene matrix, and the level of encapsulation is higher for the composite made with 20% wood flour than it is for the composite made with 40% wood flour

Scope of the Report

The natural fiber reinforced composites market is segmented by Fiber Type, Polymer, and End-user Industry. In addition, the report also covers market size and forecasts for the four major regions' natural fiber reinforced composites market. The revenue used to size and forecast the market for each segment is US$ billion.

By Fiber Type

• Wood Fiber Composites
• Non-wood Fiber Composites
• Flax
• Hemp
• Jute
• Kenaf
• Sisal
• Other

By Polymer

• Thermosets
• Thermoplastics

By End-user Industry

• Aerospace
• Automotive
• Building and Construction
• Electrical and Electronics
• Furniture
• Other

By Geography

• North America
• USA
• Canada
• Mexico
• Europe
• Germany
• U.K
• France
• Spain
• Italy
• Asia Pacific
• China
• Japan
• South Korea
• India
• Indonesia
• Australia
• Rest of Asia Pacific
• Latin America
• Middle East
• Africa

Key Trends by Market Segment

• By Fiber Type: Wood Fiber Composites held the largest market share in 2021 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

Key Topics Covered:

1. Executive Summary

2. Market Overview and Key Trends Impacting Growth

3. Global - Market Segmentation by Fiber Type, Historic Growth, Outlook & Forecasts

4. Global - Market Segmentation by Polymer, Historic Growth, Outlook & Forecasts

5. Global - Market Segmentation by End-User Industry, Historic Growth, Outlook & Forecasts

6. Industry/Competition Analysis - Competitive Landscape

7. Key Competitor Profiles (Company Overview, Product Offerings, SWOT Analysis)

8. Geographic Analysis & Major Regions Market Historic Growth, Outlook, and Forecasts

9. Industry Expert's Opinions/Perspectives

Companies Mentioned

• 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
• Leigh Fibers
• Environmental Composites
• Lingrove
• Shijiazhuang Bairuisite Cellulose Co LTD
• MCG BioComposites LLC
• Composite ReFiber Types
• Gi Natural Fibre Composites Pvt. Ltd.
• Engineered Fibers Technology LLC

For more information about this report visit https://www.researchandmarkets.com/r/wwrtk9

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets