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Rising demand for natural fiber composites especially in Asia-Pacific and Oceania
Natural fiber composites are mainly used in the building & construction and automotive industries. Natural fiber composites are manufactured mainly using two processes: compression molding and injection molding.
The natural fiber composites market is a highly fragmented market with a presence of large number of producers. There are many players with strong local presence in their respective regions. The key players in this market are opting for agreements & partnerships, and product showcasing to enhance their market reach into new applications and more eco-friendly products. The major companies in the market are UPM Biocomposites, Meshlin Composites Zrt, Jelu-wrek, Greencore Composites, among others.
The building & construction application dominated the natural fiber composites market in 2013. North America was the largest market for building & construction and accounted for 51.81% of the overall natural fiber composites market share by value in 2013. Automotive applications are expected to show the highest growth owing to increasing consumption of natural fiber composites, primarily in North America and Europe.
Natural Fiber Composites Market by Type (Wood Fiber and Non-Wood Fiber), Manufacturing Process (Compression Molding, Injection Molding, and Others), Application (Building & Construction, Automotive, and Electrical & Electronics), and Region - Global Forecasts to 2021
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