Natural Fiber Composites Market worth $0.46 billion in 2029 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Jan. 28, 2025 /PRNewswire/ -- The report "Natural Fiber Composites Market by Type (Flax, Kenaf, Hemp), Resin Type (PP, PE, PA), Manufacturing Process (Compression Molding, Injection Molding), End-Use Industry (Automotive, Building & Construction), and Region - Global Forecast to 2029", global natural fiber composites market size is expected to reach USD 0.46 billion in 2029 from USD 0.35 billion in 2024, at a CAGR of 5.3% from 2024 to 2029.

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295 – Tables
57 – Figures
242 – Pages

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The growth of natural fiber composites is driven by several key factors, including its eco-friendly nature, light weight properties, biodegradability, cost effectiveness, and excellent mechanical properties as compared to traditional materials. Natural fiber composites are mainly used in automotive industry. It helps in reducing weight, improving performance, and fuel efficiency of the vehicles, providing moderate strength suitable for automotive parts like door panels, seat back, headliner panel, boot-lining, noise insulation panels, and moulded foot well linings. Premium automotive manufacturers such as BMW, Audi, Mercedes Benz, Ford, Volkswagen, and Toyota use natural fiber composites for their vehicle production.

With the growing environmental concerns and government rules & legislations to reduce carbon footprint and promote sustainability, demand for natural fiber composites is growing rapidly in building and construction industry. Natural fiber composites are found in industrial supports, tanks, long-span roof structures, tanks, high rise building and lightweight doors, window, furniture, lightweight building, bridge components, and complete bridge systems due to changing consumer preferences for environmentally friendly composite materials. In China, most of the people are preferring natural fiber composites products for their household & furniture products like outdoor bed boards, indoor decorative boards, doors, windows, wall and door coverings, roof coverings to contribute towards sustainability.

Kenaf type segment is expected to grow with second-highest CAGR in terms of value in natural fiber composites market during the forecasted period.

The kenaf is the second-fastest-growing segment in the natural fiber composites market due to its superior tensile strength and flexural strength, which makes them suitable for the production of natural fiber composites. Composites made of kenaf fiber possess various thermal and mechanical properties including low density, light weight nature, high strength, flexibility and biodegradability. Due to the increasing environmental awareness on carbon emission and depletion of petroleum resources, kenaf fiber reinforced composites finds its application in automotive, and building & construction industries. Apart from these advantages, Kenaf also have certain limitations, it has high absorption rate which can lead to degradation of fiber-matrix interface and results in a significant drop in tensile properties for composites, which can be reduced by alkaline treatment.

PE resin segment is expected to grow with the second-highest CAGR in terms of value in natural fiber composites market during the forecasted period.

PE is the second-fastest-growing resin type in the natural fiber composites market, due to its high impact strength, flexibility, excellent durability and rigidity, chemical resistance and electrical insulation properties. It acts as a reinforcement for the development of natural fiber composites. Almost all the major manufacturers use PE, as a polymer matrix to produce natural fiber composite materials. With the growing sustainability this resin type is preferred due to its biodegradability and recyclability that further stimulate its growth in the natural fiber composites market.

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Injection molding segment is expected to grow with the second-highest CAGR in terms of value in natural fiber composites market by manufacturing process segment during the forecasted period.

Injection molding is the second fastest-growing manufacturing process in the market of natural fiber composites. It is one of the most cost effective manufacturing technique used for the mass manufacturing of natural fiber reinforced composites. Due to its cost effectiveness, versatility, high volume production, faster cycle rates, and repeatability, it finds it place in various end-use industries including automotive, electrical & electronics, and consumer goods.

The demand for natural fiber composites in building & construction industry is expected to grow with the second-highest CAGR in terms of value in natural fiber composites market during the forecasted period.

The building & construction is the second fastest growing end-use industry in the natural fiber composites market, due to growing demand for green building materials. The usage of natural fiber composites is increasing in decking and railing systems, window and door frames, wall panels & sidings, and roofing systems due to its eco-friendliness, cost-effectiveness, lightweight nature, renewability, and superior thermal and corrosion resistance properties. This is accelerating the demand for natural fiber composites in such structural applications and is fuelling growth in the building & construction industry.

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North America region is expected to register second-highest CAGR both in terms of value and volume during forecasted period

North America is the second fastest growing market for natural fiber composites mainly due to fast-developing automotive sector, for manufacturing of automotive components. US leads in the field of manufacturing natural fiber composites due to presence of large number of natural fiber composite manufacturers such as FlexForm Technologies, Green Dot Bioplastics, Inc., and Environmental Composites, Inc. In this region, major OEMs including Chrysler, Honda, Ford, Mercedes, and General Motors, have been incorporating natural fiber composites for seat back, door panel, boot-lid finish panel, boot-liner, trunk panel, and seat surface that are significantly driving demand for such high-performance material like natural fiber composites. Moreover, the demand for natural fiber composites is also increasing in construction industry due to stringent regulations, legislation, and policies concerning environment protection, and energy efficiency.

Key players

Prominent companies include Polyvlies Franz Beyer GmbH (Germany), TECNARO GMBH (Germany), FlexForm Technologies (US), Meshlin Composites Zrt. (Hungary), GreenGran BN (China), BUSS AG (Switzerland), Green Dot Bioplastics, Inc. (US), NPSP BV (Netherlands), Bcomp (Switzerland), BPREG Composites (Turkey), Weifang Yunding Holding Group Co., Ltd. (China), Holland Composites (Netherlands), MYNUSCo (India), HempFlax Group B.V. (Netherlands), and UPM (Finland), and among others.

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