The Global Natural Fiber Composites Market is projected to reach a value of over USD 10.8 billion by 2027 at a CAGR of around 11.2%.
Natural fiber composites are composite materials which consist of a polymer matrix embedded with high strength natural fibers such as jute, oil palm, sisal, kenaf, and flax. Owing to the benefits offered by the natural fiber composite such as low production cost, low weight, right strength, good mechanical properties and resistance to fatigue has gained popularity in various industries. Moreover, raw materials used to manufacture natural fiber composite are environmentally friendly which makes them easily bio-degradable.
Market Driver:
Increasing awareness regarding the harmful effects of the use of synthetic materials on the environment has led to the use of eco-friendly materials. For instance, according to the International Energy Agency (IEA), the global carbon emission grew by 1.7% in 2018 to a high of 33.1 Gt CO2. Natural fibers are sustainable materials which are easily available in nature and offers advantages such as low cost, lightweight, renewability, biodegradability, and high specific properties. This owing to its properties has resulted in an increasing demand for natural fiber composite in various industrial sectors. Thus, increasing demand for environmentally friendly products has expected to surge the demand for global natural fiber composites market.
Market Opportunities:
The packaging industry is one of the important branches of industry and is expected to experience strong growth during the forecasted period. This has attributed by rising population, increasing disposable income, changing lifestyle, increased media penetration through the internet, and others. With the growing packaging industry the use of synthetic materials such as polypropylene, polyethylene (PE), and others has expected to increase. However, these materials have poor degradability, owing to which manufactures have trend towards the use of biodegradable materials for packaging. Thus, growing packaging industry coupled with benefits of natural fiber composites has expected to pose opportunity in packaging industry during the forecasted period.
The report on the Natural Fiber Composites market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million), Volume (Kiloton) |
Segments Included |
Fiber Type, Technology, Application, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Natural Fiber Composites Market, by Fiber Type
Natural Fiber Composites Market, by Technology
Natural Fiber Composites Market, by Application
Natural Fiber Composites Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE NATURAL FIBER COMPOSITES MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY