Natural Fiber Composites Market Detailed Analysis of Current Industry Figures with Forecasts Growth till 2023 to 2032

According to the report, the global natural fiber composites industry generated $4.2 billion in 2022 and is projected to reach $8.3 billion by 2032, witnessing a CAGR of 7.3% from 2023 to 2032.

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/70158

The growth of the natural fiber composite market is driven by several factors such as a rise in demand for electric, lighter, safer, and more fuel-efficient vehicles and the surge in usage of natural fiber composites in the construction industry. However, the growth of the natural fiber composites market is restrained by its high cost and several drawbacks, like reduced toughness caused by high humidity, solvent absorption, concrete cracks caused by swelling and volume changes, and poor consistency with polymeric or cement matrices. Furthermore, the implementation of stringent regulations on the use of synthetic fibers due to their detrimental effects on the environment is expected to create new avenues for growth in the natural fiber composites industry in the future.

COVID-19 Scenario:

The COVID-19 outbreak had a positive impact on the global natural fiber composites market as the pandemic led to a greater focus on sustainability and the circular economy as more people realized the importance of preserving natural resources and reducing waste.

The pandemic forced many industries to improve their production processes to adapt to changing market conditions. This led to the development of new and more efficient methods for producing natural fiber composites, which can help reduce costs and increase production capacity.

The pandemic created new opportunities for the use of natural fiber composites in products such as personal protective equipment (PPE), which caused a surge in demand during the pandemic. This trend helped to increase the visibility and market share of natural fiber composites and opened new avenues for growth and innovation in the industry.

Based on fiber type, the wood segment held the highest market share in 2022, accounting for nearly two-fifths of the global natural fiber composites market revenue and is projected to rule the roost in terms of revenue during the forecast period. Also, the same segment is projected to manifest the highest CAGR of 7.65% from 2023 to 2032. This is because wood natural composites are cheaper than traditional materials like metal, which makes them an attractive option for manufacturers. The incorporation of wood fibers into the polymer matrix increases the material's mechanical and thermal qualities, making it more resistant to weathering and deterioration

Procure Complete Report @ https://bit.ly/425DHwA

On the basis of application, the automotive segment accounted for the largest share in 2022, contributing to more than half of the global natural fiber composites market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is also expected to portray the largest CAGR of 7.55% from 2023 to 2032. Automotive NFCs are lightweight materials that provide significant weight reductions over traditional materials. This weight reduction can lead to increased fuel efficiency and lower emissions, both of which are key elements in achieving government restrictions.

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global natural fiber composites market revenue. The same region is expected to witness the fastest CAGR of 7.59% during the forecast period. The growth of the market is attributed to the rapid industrialization of the region, which is propelling demand for lightweight and high-performance materials.

Leading Market Players:

DuPont

JELU-WERK J. Ehrler GmbH & Co. KG

Plasthill Oy

Procotex

UPM

Bcomp Ltd.

Green Dot Bioplastics Inc.

Lingrove Inc

Polyvlies

TECNARO GMBH

The report analyzes these key players in the global natural fiber composites market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

Want to Access the Statistical Data and Graphs, Key Players' Strategies:
https://www.alliedmarketresearch.com/natural-fiber-composites-market/purchase-options

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.