Global Natural Fiber Composites Market: Key Highlights
Global Natural Fiber Composites Market: Key Market Dynamics
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Global Natural Fiber Composites Market: Regional Overview
Europe is expected to dominate the Natural Fiber Composites market owing to the well established automotive sectors. Key automotive players are focusing on clean production, with decreasing quantities of energy and water used for the production of vehicles, and less CO2 is produced in the process. This has attributed to the use of Natural fiber composites for manufacturing of vehicles. Moreover, stringent regulations imposed by the government to control CO2 emission has anticipated boosting product demand. For instance, according to European Commission, on 17 April 2019, the European Parliament and the Council adopted Regulation (EU) 2019/631 which introduces CO2 emission performance standards for new passenger cars and new vans for 2025 and 2030.
Asia-Pacific is projected to register a healthy growth in natural fiber composite market owing to industries emerging electronics, construction and automotive industry. This has increased the consumption of natural fiber composite owing to its benefits such as biodegradability, low energy consumption, and others. Countries such as India, China, Japan construction activities are expected to increase owing to rapid industrialization and urbanization. For instance, according to Invest India in 2020, the construction industry in India is expected to grow at 5.6% in the year owing to projects such as smart city project, industrial corridors, and increasing demand for commercial space.
Global Natural Fiber Composites Market: Key Players Overview
UPM is engaged in providing sustainable and safe solutions across its business segments. The company operates through various businesses such as pulp, timber, biofuel, energy, raflatac, specialty paper, communication paper, plywood, biocomposite, biochemical, biomedical, and UPM forest. UPM has strong geographical reach with strong sales network an across the globe with its 52 production units located in 12 countries. In March 2020, UPM developed a new biocomposite material will meet the highest sustainability requirements, known as UPM Formi EcoAce. It contains cellulose fibers and certified wood, as well as certified renewable PP polymers.
TECNARO GMBH is engaged in manufacturing bioplastics and biocomposites. The company operate through three product groups namely: ARBOBLEND, ARBOFORM, and ARBOFILL. With these product groups the company serves its products to various industries such as automotive, solar, construction, packaging, stationery, furniture, toys, household items, musical instruments and fashion industries. TECNARO is cooperated with ALBIS Plastics GmbH as a sales partner.
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