According to a research report published by Spherical Insights & Consulting, the Global Natural Fiber Composites Market Size is Expected to Grow from USD 353.52 Million in 2023 to USD 623.3 Million by 2033, at a CAGR of 5.84% during the forecast period 2023-2033.

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A viable substitute for glass and carbon fiber because of their appealing appearance and chemical makeup is natural fiber composite (NFC), a renewable, carbon-neutral composite material made from wood or plants to create reinforcing fibers. Natural fiber composites (NFCs) are gaining popularity because of their low weight, extended shelf life, and environmental advantages, which make them perfect for furniture and auto parts. The popularity of electric, lighter, safer, and fuel-efficient vehicles is driving growth in the NFC market. Superior strength, stiffness, fracture resistance, and acoustic and thermal insulation are all provided by NFCs. Utilizing plant-based fibers such as bamboo, kenaf, hemp, jute, flax, coir, sisal, and bananas, composite manufacturing is emerging as a financially viable substitute for conventional automotive parts. NFCs’ high strength-to-weight ratio and durability make them perfect for the automotive industry. Bcomp Ltd. and BMW M Motorsport have shown that NFCs can reduce vehicle weight by up to 46%. Natural fiber composites are becoming more and more popular in the automotive industry because they are environmentally friendly and renewable. Compared to synthetic fibers like glass and carbon, they are less costly and less biodegradable. Stricter regulations will be required as the demand for waste management in developed countries is predicted to rise. For instance, the European Union has funded several projects under its Horizon 2020 program to advance research and innovation in natural fiber composites. However, despite a lack of knowledge about the advantages of natural fiber composites, the Asia Pacific region has the potential to grow the market for them due to its low composite consumption rates and plentiful raw resources.

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Natural Fiber Composites Market Size, Share, and COVID-19 Impact Analysis, By Fiber Type (Wood, Cotton, Flax, Kenaf, and Hemp), By Matrix (Inorganic compound, Natural Polymer, and Synthetic Polymer), By Technology (Injection Molding and Compression Molding), By Application (Automotive, Electronics, and Construction), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.

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The wood segment is predicted to hold the largest market share through the forecast period.

Based on the fiber type, the natural fiber composites market is classified into wood, cotton, flax, kenaf, and hemp. Among these, the wood segment is predicted to hold the largest market share through the forecast period. The market for natural fiber composites is dominated by wood, which has long been used in construction because of its strength, affordability, and superiority over synthetic polymers. Wood is also known for its longevity and natural appearance.

The natural polymers segment is witnessing significant CAGR growth over the forecast period. 

Based on the matrix, the natural fiber composites market is divided into inorganic compound, natural polymer, and synthetic polymer. Among these, the natural polymers segment is witnessing significant CAGR growth over the forecast period. The market is anticipated to grow as a result of the growing demand for eco-friendly products, such as natural polymers like starch and rubber, which are being driven by the Go Green movement and lifestyle changes.

The injection molding segment is anticipated to hold the largest market share during the projected timeframe.   

Based on the technology, the natural fiber composites market is divided into injection molding and compression molding. Among these, the injection molding segment is anticipated to hold the largest market share during the projected timeframe. Even though the enhancing fiber deteriorates during the process, injection molding is a common mass-production manufacturing technique because of its processability and the high demand for composite materials in industries like automotive, hardware/apparatus, medical, and bundling areas.

The automotive segment is predicted to hold the largest market share through the forecast period.

Based on the application, the natural fiber composites market is classified into automotive, electronics, and construction. Among these, the automotive segment is predicted to hold the largest market share through the forecast period. Natural fiber composites are being used in the automotive industry because of their lightweight, environmentally friendly qualities, which improve passenger comfort by offering better thermal and acoustic insulation.

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North America is estimated to hold the largest share of the natural fiber composites market over the forecast period.

North America is estimated to hold the largest share of the natural fiber composites market over the forecast period. The growing need for sustainable materials in sectors like packaging, construction, and automobiles is driving the growth of the natural fiber composites market in North America. The US is the largest market because of the automobile industry’s need for lightweight materials. This growth is also being driven by higher manufacturing costs and government regulations on carbon emissions.

Europe is predicted to have the fastest CAGR growth in the natural fiber composites market over the forecast period. The market for natural fiber composites is expanding in the European automotive industry due to the growing need for eco-friendly and lightweight materials for the manufacture of automotive exterior and interior components.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the natural fiber composites market include Toray Industries, Inc., Solvay S.A., BASF SE, Lanxess AG, UFP Technologies, Inc., JNC Corporation, PPG Industries, Inc., Owens Corning, Fibre Extrusion Technology Ltd., Teijin Limited, and Others.

Recent Development

• In June 2022, ARBOTRADE GmbH was founded by JOMA-POLYTEC and Tecnaro. The joint venture sells products made from bioplastics to get forests back into the ground. The link created by this merger has a substantial amount of added value. With TECNARO as a material developer and producer and Joma-Polytec as a material processor, customers can get everything from the raw material to the final product from a single source. After that, the joint company ARBOTRADE GmbH is in charge of the market sales of the innovative internal developments.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the natural fiber composites market based on the below-mentioned segments:

Natural Fiber Composites Market, Fiber Type

• Wood
• Cotton
• Flax
• Kenaf
• Hemp

Natural Fiber Composites Market, Matrix

• Inorganic Compounds
• Natural Polymers
• Synthetic Polymers

Natural Fiber Composites Market, Technology

• Injection Molding
• Compression Molding

Natural Fiber Composites Market, Application

• Automotive
• Electronics
• Construction

Global Natural Fiber Composites Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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