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The natural fiber composites market share is expected to increase by USD 1.135 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.69%.
This natural fiber composites market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers natural fiber composites market segmentations by type (wood fiber and non-wood fiber), end-user (building and construction, automotive, electrical and electronics, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The natural fiber composites market report also offers information on several market vendors, including A.B.COMPOSITES Pvt. Ltd., Avient Corp., Bcomp Ltd., FlexForm Technologies, GreenCore Composites Inc., GreenGran BN, JELU WERK J. Ehrler GmbH and Co KG, Meshlin Composites Zrt., Owens Corning, Polyvlies Franz Beyer GmbH, PROCOTEX BELGIUM SA, Taishan Fiberglass Inc., TECNARO GmbH, Teijin Ltd., Toray Industries Inc., TTS Inc., UPM Kymmene Corp., Weyerhaeuser Co., DuPont de Nemours Inc, and Trex Co. Inc. among others.
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The regulations and demand for environment-friendly composites is notably driving the natural fiber composites market growth, although factors such as low strength of NFCs in comparison with synthetic composites may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the natural fiber composites industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Natural Fiber Composites Market Driver
The regulations and demand for environment-friendly composites is a major factor driving the global natural fiber composites market share growth. Currently, the demand for fiber-reinforced (glass and carbon fibers) composites is quite high. However, the challenge associated with these is that they are expensive and are not environment friendly. These fibers are non-renewable and non-recyclable. Many EU and Asian countries have introduced regulations for the automotive industry. According to EU legislation passed in 2006, 80% of vehicles should be reused or recycled, and in 2015, this percentage rose to 85%. In Japan, according to a 2015 regulation, 95% of vehicles should be reused or recycled. Glass fiber composites have drawbacks such as high fiber density, poor recyclability, and handling hazards. These drawbacks of glass fiber composites increase the demand for NFCs. The key advantage of using NFCs is that they are environmentally friendly. A large percentage of CO2 emissions and crude oil can be avoided if the glass fiber composites are replaced with NFCs in the automotive industry. Thus, such environment-related regulations and rising demand for environment-friendly composites will spur the growth of the global NFCs market during the forecast period.
Key Natural Fiber Composites Market Trend
The innovation in automotive industry is another factor supporting the global natural fiber composites market share growth. The automotive industry is growing at the highest CAGR in the global NFCs market. The reasons behind the growth of the automotive industry are the increasing population and the increase in the disposable income of individuals. The sunroof in cars was introduced in 1937. Since then, there have been many innovations in sunroofs. They are now available in different variants, such as pop-up, spoiler, inbuilt, folding, and top-mount. Currently, most sunroofs have glass panels. The automotive industry uses NFCs for various applications such as door panels, seatbacks, and trunk liners. The development and innovation in the NFCs market have now led to the introduction of another application for NFCs in the automotive industry, which is the roof frame. The International Automotive Components (IAC), along with BASF, launched a FiberFrame natural fiber sunroof frame in the 2017 Mercedes-Benz E-class. This is the first automotive sunroof frame that is made completely from nonwoven NFC. The content of natural fibers in this frame is up to 70%, resulting in a weight reduction of up to 50% in comparison to the conventional metal-reinforced sunroof frames. Thus, innovations in the automobile industry will raise the demand for NFCs in the production of different parts of automobiles, which in turn will propel the growth of the global NFCs market during the forecast period
Key Natural Fiber Composites Market Challenge
The low strength of NFCs in comparison with synthetic composites will be a major challenge for the global natural fiber composites market share growth during the forecast period. The strength of natural fibers is quite low in comparison to that of glass fibers. This usually happens due to low compatibility between the fibers and the matrix. It has been found that the tensile load carrying capacity of natural fiber-reinforced composites increases with the fiber content up to an optimum level and then starts declining. The automotive industry is one of the major end-user industries in the global NFCs market. In the late 19th century, around 5-10 kilograms of natural fibers were used per car. However, the use of natural fibers has been restricted to upholstery applications because of their low impact strength and poor moisture resistance. This property of low impact strength of natural fibers can be improved. If it is not improved, it will negatively affect the growth of the global NFCs market during the forecast period.
This natural fiber composites market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global natural fiber composites market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the natural fiber composites market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the natural fiber composites market encompasses successful business strategies deployed by the key vendors. The natural fiber composites market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The natural fiber composites market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the natural fiber composites market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for the natural fiber composites market in North America. Market growth in this region will be slower than the growth of the market in APAC regions.
The prominence of the construction industry will facilitate the natural fiber composites market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The NFCs market in North America witnessed a slow growth in 2020 due to the outbreak of COVID-19, which affected several countries such as the US and Canada across the region. An increase in the number of COVID-19 cases in the region forced government authorities to introduce stringent emergency legislation, which led to the shutdown of several manufacturing units, including that of NFCs, in North America.
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The natural fiber composites market share growth by the wood fiber segment will be significant during the forecast period. Composite wood products have many advantages. As they are synthetic, they can be customized easily. They can also be manufactured in different colors, which eliminates the need to paint. The most important advantage is the environmental impact. Composite wood products are made from smaller trees; hence, there is no need to cut large, old forests. Thus, the increasing use of wood fiber in different applications will drive the growth of the wood fiber segment of the global NFCs market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the natural fiber composites market size and actionable market insights on post COVID-19 impact on each segment.
Natural Fiber Composites Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.69% |
Market growth 2022-2026 |
$ 1.135 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.67 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 39% |
Key consumer countries |
US, Canada, China, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
A.B.COMPOSITES Pvt. Ltd., Avient Corp., Bcomp Ltd., FlexForm Technologies, GreenCore Composites Inc., GreenGran BN, JELU WERK J. Ehrler GmbH and Co KG, Meshlin Composites Zrt., Owens Corning, Polyvlies Franz Beyer GmbH, PROCOTEX BELGIUM SA, Taishan Fiberglass Inc., TECNARO GmbH, Teijin Ltd., Toray Industries Inc., TTS Inc., UPM Kymmene Corp., Weyerhaeuser Co., DuPont de Nemours Inc, and Trex Co. Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis, and future consumer dynamics and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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