NEW YORK, May 5, 2016 /PRNewswire/ -- The Natural Fiber Composites (NFCs) market is projected to reach USD 6.50 billion by 2021, expected to register a CAGR of 11.68% between 2016 and 2021. The major drivers stimulating the growth of the NFCs market are increasing use of natural fiber composites in construction and automotive industries due to their high stiffness-to-weight ratio, lightweight and recyclability.
"Automotive is the most lucrative application in the NFCs market."
The key drivers of NFCs in automotive industry are lightweight, higher fuel efficiency, lower energy consumption, excellent safety & acoustic features with recyclability and government regulations. In order to comply with regulatory norms, automotive manufacturers such as Toyota Motor Corp. (Japan), Ford Motor Company (U.S.), Mercedes-Benz (Germany) have started using NFCs to manufacture automotive components such as seatbacks, parcel shelves, boot linens, among other parts. Thus, automotive application would be the most profitable investment pocket for stakeholders.
"Asia-Pacific is the fastest-growing market of NFCs."
Asia-Pacific is expected to be the fastest-growing market for NFCs in the next five years. The development in infrastructure facilities, investment made by NFCs manufacturers, and capacity expansions by various leading players are a few factors leading to the growth of the market of NFCs in this region. China leads the market of NFCs in Asia-Pacific. Its consumption of natural fiber composites has grown remarkably due to growth in the construction and electrical & electronics industries.
This study has been validated through primaries conducted with various industry experts, globally.
These primary sources have been divided into following three categories:
- By company type- Tier 1- 50%, Tier 2- 37%, and Tier 3- 13%
- By designation- C Level- 46%, Director Level- 33%, and Others- 21%
- By region- North America- 34%, Europe- 31%, Asia-Pacific- 23%, and RoW (12%)
The report provides comprehensive analysis of company profiles which include:
- UPM Biocomposites (Finland)
- Weyerhaeuser (U.S.)
- Procotex Corporation NV SA (Belgium)
- Trex Company, Inc. (U.S.)
- Advanced Environmental Recycling Technologies, Inc. (AERT) (U.S.)
- Fiberon LLC (U.S.)
- Polyvlvlies Franz Beyer GMBH & CO. KG (Germany)
- Tecnaro GMBH (Germany)
- FlexForm Technologies (U.S.)
- Meshlin Composites Zrt. (Germany)
- Greencore Composites, Inc. (Canada)
- Greengran B.V. (The Netherlands)
- Jelu-Werk Josef Ehrler GMBH & CO. KG (Germany)
- Polymera, Inc. (U.S.)
- Stemergy (U.S.)
- TTS BIOCOMPOSITE (U.S.)
Reasons to buy the report
The report will help the leaders/new entrants in this market in the following ways:
1. This report segments the NFCs market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, agreements & partnerships, and acquisitions.
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