Natural Fiber Composites Market Forecasts to 2030 - Global Analysis By Raw Material, Fiber Type, Polymer, Technology, Application and By Geography

According to Stratistics MRC, the Global Natural Fiber Composites Market is accounted for $328.23 million in 2023 and is expected to reach $537.49 million by 2030 growing at a CAGR of 7.3% during the forecast period. Natural fibre composites combine plant-derived fibres with a polymeric matrix. Due to their attractive physical traits and chemical makeup, NFCs are a suitable replacement for glass fibre and carbon fibre. When compared to alternatives, they provide both a reduction in density and cost savings. They have a lengthy shelf life and are ecologically beneficial. Additionally, because NFCs are lightweight, they may be used in automotive, electrical, sporting goods, and furniture products. These fibres have excellent fracture resistance, strength, stiffness, and thermal and acoustic insulation properties.

According to a 2015 regulation in Japan, 95% of vehicles should be reused or recycled.

Market Dynamics:

Driver:

Growing demand for electronics and sporting goods

Natural fibers are less expensive and more environmentally friendly option to synthetic and metallic fibres. It performs well at dampening and absorbing shock. Sports equipment and electronics are two attractive business categories. Natural fibre composites are used to make a variety of goods, including snowboards, tennis rackets, bicycles, frames, and laptop and mobile phone covers. Due to its advantages, which include biodegradability, affordability, lightness, resistance to damage, and high strength, it is being used excessively in electrical and athletic products, which is driving up the market demand.

Restraint:

Limited thermal stability

Natural fibres may withstand temperatures of up to 2,000°C before degrading and shrinking, and because of this, natural fibre composites perform less well than those made of other materials. Due to their lack of adhesion to other materials, they can only be used in certain situations. Due to its limitations in thermal qualities, it is difficult to apply mass production techniques, which hinders market expansion.

Opportunity:

Rising recycling activities

Composites made of natural fibres are widely available and renewable. Both natural fibres and thermoplastic materials like polypropylene and polyethylene are easily recyclable. As they are less expensive and more ecologically beneficial than other fibres, natural fibres, particularly flax and hemp, are being utilised more frequently in place of glass and carbon fibres. The demand on the businesses to solve the disposal issues is projected to intensify as a result of current and upcoming regulations pertaining to waste management in industrialised nations. Additionally, rising government waste management activities and awareness of recycling are boosting market demand.

Threat:

Moisture sensitivity

Moisture sensitivity is the most primary concern when natural fibers, such as bast fibers, are used to reinforce polymer composites. Through fungi, these fibres enlarge and begin to degrade. The composite's mechanical characteristics are altered. Natural fibres absorb a lot of moisture, which severely affects their strength, stiffness, and ability to stick to the hydrophobic matrix. This causes the composite material to degrade prematurely in damp or humid settings. This factor inhibits market expansion.

COVID-19 Impact:

The pandemic has posed several obstacles for the market for natural fibre composites, but it has also opened up fresh windows of opportunity for development and innovation and has contributed to raising the profile and significance of sustainable materials in the global economy. Numerous businesses have been compelled by the epidemic to enhance their manufacturing methods in order to cope with the shifting market dynamics. As a result, new and more effective techniques for creating natural fibre composites have been created, which may assist to lower prices and boost output. Due to the epidemic, sustainability and the circular economy are receiving increasing attention as more people understand how crucial it is to protect the environment and cut down on waste.

The flax segment is expected to be the largest during the forecast period

The flax segment is estimated to have a lucrative growth. Flax composites have a high capacity for absorption. They operate as a damper, absorbing shocks in addition to dampening sound waves. It is a particularly effective thermal insulator due to these absorption qualities. Additionally, flax fibres are a sustainable resource. Flax is one of the most often used raw materials in the business because of its benefits, which include high tensile strength, ultraviolet rays blocking capabilities, vibration absorbent, and high water retention.

The injection molding segment is expected to have the highest CAGR during the forecast period

The injection molding segment is anticipated to witness the fastest CAGR growth during the forecast period. With the use of a screw and an external heating source, the material is melted in the moulding process known as "injection moulding," which is then injected into a mould to create the desired result while the mould cools. It is a closed moulding technique that combines high volume and pressure to create composite items. Two more steps-preheating and pressurizing-follow this procedure. This technique has great reproducibility and dependability and is extremely effective.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period. Due to rising disposable income and a better quality of life, this region saw excellent development. China is one of the major producers of electronics, automobiles, and sporting goods. Natural fiber-reinforced composites are becoming more popular in the region as a result of expanding building activity in nations like China, India, and Japan. Additionally, the demand for natural fiber composites in the remaining parts of Asia-Pacific will also increase throughout the projected period as a result of new policies and investments made by various governments.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to its rising popularity and soaring consumer goods demand. The development of a natural polymer matrix for front and rear door lines, boot lines, and parcel shelves is the subject of intensive study by European automakers. Germany is a significant importer of hemp in Europe as well as one of the top automakers in the continent. According to estimates, the automobile industry's growing desire for biodegradable and lightweight goods to improve the vehicle's efficiency would fuel the expansion of the region.

Key players in the market:

Some of the key players profiled in the Natural Fiber Composites Market include: The AZEK Company, Amorim Cork Composites SA, TTS Corporate, Fiberon Technologies Inc., UPM Biocomposites, FlexForm Technologies, Polyvlies Franz Beyer GmbH & Co. Kg, Green Dot Bioplastics Inc., Trex Company Inc., GreenGran BN, Oldcastle APG, Jelu-Werk Josef Ehrler GmbH & Co. Kg, Tecnaro GmbH, Meshlin Composites ZRT, NPSP NV, Procotex Corp SA, Kafus Bio-Composites Inc. and Tagleef Industries.

Key Developments:

In June 2022, Tecnaro and JOMA-POLYTEC founded a joint venture, ARBOTRADE GmbH. The venture jointly markets products made of bioplastics for the reforestation of forests. This merger creates a connection with a very high level of added value. TECNARO acts as a material developer and manufacturer and Joma-Polytec as a material processor so that customers can get everything from the raw material to the product from a single source. The joint company, ARBOTRADE GmbH, then takes over the sale of the innovative in-house developments on the market.

In June 2021, Procotex acquired ELG UK's short carbon fiber business. This acquisition leads to the successful completion of the next critical step in providing carbon fibers withlarger capacities and feedstocks to the compounding and other industries.

Raw Materials Covered:

• Cotton
• Flax
• Wood
• Hemp
• Kenaf
• Jute
• Other Raw Materials

Fiber Types Covered:

• Wood Fiber Composites
• Non-wood Fiber Composites

Polymers Covered:

• Thermosets
• Thermoplastics

Technologies Covered:

• Pultrusion
• Injection Molding
• Compression Molding
• Other Technologies

Applications Covered:

• Automotive
• Aerospace
• Sporting Goods
• Electrical & Electronics
• Building & Construction
• Other Applications

Regions Covered:

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

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances