Global Natural Fiber Reinforced Composites Market is expected to reach approximately US$ 12 billion by 2030 – Ken Research
The natural fiber reinforced composites market is expected to record a positive CAGR of over 9% during the forecast period (2022-2030) and is expected to reach approximately US$ 12 billion by 2030, owing to their greener nature and contribution to sustainable practice, natural fibers have garnered significant interest from industry players and researchers for the utilization of polymer composites. To better balance environmental concerns with social and economic issues, some sectors have transitioned toward sustainable technology which is in turn pushing up the natural fiber reinforced composites market.
For more information, Request a Fee Sample Report
- The market for natural fiber reinforced composites is expanding primarily as a result of rising environmental concerns and the consequent rise in demand for bio-based composite materials. These composite fibers are made from several plants’ bast, or outside stem. When compared to items made from oil, the use of these composites can cut carbon footprint by nearly 50%. These natural fibers are also up to 100% recyclable. All of these factors are fueling market expansion.
- Another factor driving the market growth is the rising use of bio-based fiber composite in the automotive industry. These are widely used in the fabrication of electric car components because of their lightweight qualities. Due to their competitive stiffness and strength compared to other synthetic fibers as well as their better acoustic insulation properties, these composites are also employed in vehicle door panels, floor panels, underfloor pans, seat backs, and trunk liners.
- By 2025, the Chinese government plans to have at least 5,000 fuel cell electric vehicles on the road, and by 2030 this number is expected to reach one million. The Chinese market for natural fiber reinforced composites is anticipated to be driven by the government’s promotion of electric, hybrid, and fuel cell electric vehicles.
- Natural fibers also possess a negative characteristic known as hygroscopicity which is posing a negative impact on the market because, when a hygroscopic material is pneumatically transported, it may collect moisture from the air being used to transport the material and become extremely cohesive, which will cause it to have poor flowability.
- Natural fiber composites’ susceptibility to moisture absorption has a number of detrimental implications on their characteristics, which in turn affects how well they perform over time. For instance, increased moisture reduces their mechanical qualities.
- To prevent the issue different techniques are adopted, for example, wood flour is prevented from absorbing moisture due to its encapsulation by the polypropylene matrix, and the level of encapsulation is higher for the composite made with 20% wood flour than it is for the composite made with 40% wood flour.
- The supply chain was interrupted by lockdowns all over the world in 2020 and further restrictions in 2021, which posed difficulties for manufacturers in the market for natural fiber reinforced composites. The market for natural fiber reinforced composites is rapidly returning to its pre-COVID levels, and over the course of the forecast period, a solid growth rate is anticipated, led by the economic recovery in the majority of emerging countries as well as developed countries.
- During the initial phase of Covid pandemic, the Chairman of the Indian Jute Mills Association reported around 0.2 Mn tonnes of jute product manufacturing with an estimated value of US$ 156 Mn had been lost. Some mills that were able to reopen only had 5 to 10 percent of their staff working there.
Key Trends by Market Segment
By Fiber Type: Wood Fiber Composites held the largest market share in 2021 for the Global Natural Fiber Reinforced Composites Market.
- Composites with wood fiber reinforcement are highly in demand in major parts of the world due to their major applications in different sectors like construction, automotive, and others. It can be used for trim, molding, fencing, and decking, among other things.
- Wood fiber reinforced composites are the preferred alternatives to wood in many applications due to their minimal maintenance requirements and resistance to staining, weathering, and warping.
- Wood fiber-reinforced composites are becoming more and more common in the building, automotive, and furniture sectors. The long-term behavior of these materials, in addition to their processing and physical properties, is a crucial consideration, particularly in light of the design layout and product liability.
- Various inventions and innovations are being carried out for market development of these components. For example, The Fatigue and Creep Testing Machine for Nonmetallic/Composite Materials was created by Prof. Subrata Kumar Panda of NIT Rourkela, together with B. Tech student Souvik Biswas and PhD graduate Dr. Chetan Kumar Hirwani. The innovation was granted a patent in September 2022. In accordance with the terms of the Patents Act of 1970, the innovation was patented for 20 years by The Patent Office, Government of India, on behalf of NIT Rourkela in 2018.
By Polymer: Thermosets polymer segment held the largest market share in 2021 for the Global Natural Fiber Reinforced Composites Market.
- Thermosets polymer’s qualities include low density, low cost, great flexibility, plentiful availability, and eco-friendliness, natural fiber reinforced thermoset composites are the ideal substitute materials for synthetic fiber reinforced composites.
- Aerospace, wind energy, sporting goods, and automotive are some end-use industries that are increasingly using thermoset fiber composites. Thermoset composites are also utilized to create permanent components unlike thermoplastic composites, they do not distort when heated.
Visit A link Request for Custom Report
By End-User Industry: Automotive industry held the highest market share in 2021, in the Global Natural Fiber Reinforced Composites Market.
- In the automotive sector, natural fiber-reinforced bio-composites are utilized to create lightweight components with good mechanical qualities to increase fuel economy and lower CO2 It helps reduce the weight of a car by 30% and the cost by 20% during manufacturing.
- Mazda is one of the automakers that has utilized natural fibers and recyclable polymers. It uses about 30% recycled material and 70% raw materials to make bumpers that meet high standards for things like surface quality and sufficient mechanical characteristics, says IOP organization.
By Geography: North America accounted for the largest share of total market revenue in 2021, in the total Global Natural Fiber Reinforced Composites Market. It is due to the rising adoption in the manufacturing of fiberboards, particle boards, and composite panels in the region.
- Leading producers of bio-composite materials are moving their operations to the Asia Pacific region. More foreign direct investment (FDI) from western nations is attracted to Asia Pacific countries due to government initiatives supporting the establishment of eco-friendly material start-ups.
- The governments of various nations, including Japan, Germany, and the United States, are passing regulations to encourage the use of environmentally friendly materials in the building sector and other industries. Recently, there has been an increase in demand for biobased products, and governments are working to use more recyclable materials in various parts of the world.
- In China, the demand for wood-based products has been rising. The nation effectively meets the need for wood composites while protecting natural forest reserves by employing forest residue as a raw material to make wood fiber composites. Common wood fiber composites are made mostly from wood fibers and adhesives that contain formaldehyde.
- Germany is a significant importer of hemp in Global as well as one of the top automakers on the continent. According to estimates, the automotive industry’s growing desire for biodegradable and lightweight goods to improve fuel efficiency will fuel the country’s growth.
Competitive Landscape
The Global Natural Fiber Reinforced Composites Market is highly competitive with ~150 players that include globally diversified players, regional players, and many country-niche players. The market is highly competitive, with both large and small companies competing by offering a range of goods through a substantial distribution network. From production to the delivery of final goods to different places, the businesses in this sector are very intertwined.
Large global players control about 20% of the market share, while regional players hold the largest share in the market. Some of the major players in the market include Trex Company Inc., UPM Biocomposites, The AZEK Company LLC, FlexForm Technologies LLC, GreenCore Composites, Green Dot Bioplastics Inc., Procotex Corp SA, Polyvlies Franz Beyer GmbH, Amorim Cork Composites SA, NPSP BV, Tecnaro Gmbh, and others.
Recent Developments Related to Major Players
- In October 2021, Lanxess introduced a biodegradable material to its Tepex line of continuous-fiber-reinforced thermoplastic composites. The substance blends polylactic acid made from biomaterials with natural flax fibers.
- In October 2021, Green Dot Bioplastics Inc. and Mayco International collaborated to produce a sustainable solution for waste generated during the manufacturing of automobile components by recovering trim and scrap fibers for Natural Fiber Reinforced Plastic (NFRP).
Conclusion
The Global Natural Fiber Reinforced Composites Market is forecasted to continue the significant growth since 2019. One of the major trends driving market expansion is the automobile industry’s spiraling demand for lightweight products as well as the consumer’s rising awareness of green products. Though the market is highly competitive with around 150 participants, few global players control the dominant share and regional players also hold a significant share.
Note: This is an upcoming/planned report, so the figures quoted here for market size estimate, forecast, growth, segment share and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within maximum 2 working weeks.
Ken Research has recently published report titled “Global Natural Fiber Reinforced Composites Market Size, Segments, Outlook, and Revenue Forecast 2022-2030” The natural fiber reinforced composites market is segmented by Fiber Type, Polymer, and End-user Industry. In addition, the report also covers market size and forecasts for the four major regions’ natural fiber reinforced composites market. The revenue used to size and forecast the market for each segment is US$ billion.
Market Taxonomy
|
By Fiber Type |
|
|
| By Polymer |
|
|
| By End-user Industry |
|
|
| By Geography |
North America
Europe
Asia Pacific
LAMEA
|
|
For more insights on the market intelligence, refer to the link below:-
Global Natural Fiber Reinforced Composites Market
Follow Us –
LinkedIn | Instagram | Facebook | Twitter | YouTube
0
