Natural Fiber Composites Market worth $424 million by 2028
The report "Natural Fiber Composites Market by Type (Flax, Kenaf, Hemp), Resin Type (PP, PE, PA), Manufacturing Process (Injection Molding, Compression Molding), End-use Industry (Automotive, Building & Construction), Region - Global Forecast to 2028", is projected to grow from USD 328 million in 2023 to USD 424 million by 2028, at a CAGR of 5.3% during the forecast period. Natural fiber composites are getting widely used in multiple end-use industries such as automotive, construction, electrical & electronics, sporting goods, medical & pharmaceuticals, and others.
Browse 232 market data Tables and 44 Figures spread through 196 Pages and in-depth TOC on "Natural Fiber Composites Market by Type (Flax, Kenaf, Hemp), Resin Type (PP, PE, PA), Manufacturing Process (Injection Molding, Compression Molding), End-use Industry (Automotive, Building & Construction), Region - Global Forecast to 2028"
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Flax segment is projected to dominate the global natural fiber composites market during the forecast period.
The natural fiber composites market has been segmented based on the type into flax, kenaf, hemp and others. In 2022, the flax segment dominated the global natural fiber composites market. Flax fiber composites offer a high strength-to-weight ratio, making them suitable for use in a wide range of applications in the automotive, construction, and other end-use industries.
PP resin type segment dominated the natural fiber composites market in 2022.
The natural fiber composites market is segmented on the basis of resin types as PP, PE, PA and others. PP resin are dominantly used with almost all type of non-wood fibers efficiently in order to manufacture composites. High adoption, easy processing and multiple applications makes PP resin widely used fiber type in the natural fiber composites market.
Injection Molding process dominated the natural fiber composites market in 2022.
Based on manufacturing process, the market is segmented into compression molding, injection molding, and others. The compression molding process holds the largest share. The automotive and construction industries are the key end users of compression-molded natural fiber composites due to their benefits, such as cost-effectiveness, high reproducibility, and low cycle time.
Automotive end-use segment dominated the natural fiber composites market in 2022.
Various end-use industries such as automotive, building & construction, and others have been considered. In terms of value, automotive segment dominated the market in 2022. The demand for natural fiber composites in the automotive industry is growing due toseveral benefits over synthetic fibers. Investing in automotive applications is the most lucrative opportunity for stakeholders operating in the natural fiber composites market.
Europe is expected to be the largest market for natural fiber composites market during the forecast period.
Europe accounts for a major share of the overall natural fiber composites market, followed by North America and Asia Pacific. The high demand for natural fiber composites in these regions is due to the increasing demand for non-wood fiber composites in the construction industry. The country has presence of wide number of top natural fiber composites manufacturers.
The key players in the market include Procotex SA Corporation NV (Belgium), Polyvlies Franz Beyer GMBH & Co. KG (Germany), Tecnaro GmbH (Germany), FlexForm Technologies (US), Meshlin Composites Zrt (Hungary), GreenCore Composites Inc. (Canada), GreenGran B.V. (Netherlands), and Jelu-werk Josef Ehrler GmbH Co & Co. KG (Germany) and others. These manufacturers have been adapting different organic and inorganic developmental strategies over the past five years for their market growth.
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