NATURAL FIBER COMPOSITES MARKET TO REACH USD 10.8 BILLION BY 2027 | CAGR 11.2% – FORENCIS RESEARCH

Natural Fiber Composites MarketΒ - Global Industry Analysis and Forecast 2020 to 2027

Global Natural Fiber Composites Market: Key Highlights

  • According to the new market research report Natural Fiber Composites Market by Fiber Type (Wood Fiber Composite, Non-wood Fiber Composite), by Technology (Injection Molding, Compression Molding, Pultrusion, Others), by Application (Automotive, Electronics & Electrical, Sporting Goods, Construction), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global natural fiber composites market is estimated to reach USD 10.8 Billion by 2027 at a CAGR of around 11.2% during the review period.
  • 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.
  • Benefits such as low production cost, low weight, right strength, mechanical properties and resistance to fatigue have gained popularity in various industries.
  • Raw materials used to manufacture natural fiber composites are environment-friendly and has the potential to replace synthetic fibers over the coming years.

Natural Fiber Composites Market

Global Natural Fiber Composites Market: Key Market Dynamics

  • Increasing demand for environmentally friendly products owing to awareness regarding the harmful effects of synthetic materials has expected to surge the demand for product market 
  • Increasing demand for fuel efficiency in the automotive sector has expected to drive the growth of natural fiber composite market during the forecasted period
  • Growing packaging industry coupled with benefits of natural fiber composites has expected to pose opportunity in packaging industry during the forecasted period

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Global Natural Fiber Composites Market: Regional Overview

  • Europe

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

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:

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:

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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Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of market research reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets.

Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.

 

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Rep Id : CM 093

Published : 2020-07-22

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