Natural Fiber Composites Market 2023 Key Country Analysis: Trec Company, Inc., FlexForm Technologies, Fiberon Technologies, Inc., The AZEK Company LLC

The global Natural Fiber Composites market size was estimated at USD 328.2 million in 2023 and is projected to reach USD 496.4 million in 2030 at a CAGR of 6.1% during the forecast period 2023-2030.

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Fiber-reinforced composites are in reasonably high demand. They are not eco-friendly, though, and are pricey. These fibers cannot be recycled or renewed. Regulations for the automobile sector have been introduced in several Asian and European Union nations. In accordance with laws adopted by the European Union in 2006, 80% of cars must be recycled or reused; in the 2015 version, this percentage increased to 85%. A 2015 rule in Japan mandates that 95% of automobiles should be recycled or repurposed. The usage of glass fiber composites is also constrained by limitations including high fiber density, low recyclability, handling dangers, and other issues. Natural fiber composites benefit from the shortcomings of glass fiber composites.

The desire for lighter, safer, more fuel-efficient, and electric automobiles is propelling the market for natural fiber composites. This is explained by the greater strength, stiffness, fracture resistance, and thermal & acoustic insulation properties that these fibers display. NFC technology also lowers the cost of parts used in automotive applications. Composite manufacturing is quickly becoming a more cost-effective option than conventional methods for making vehicle components. This environmentally beneficial approach is aided by plant-based fibers, including bamboo, kenaf, hemp, jute, flax, coir, sisal, and banana.

There have been some positive impacts of the COVID-19 pandemic on the natural fiber composites market, such as the pandemic has led to a greater focus on sustainability and the circular economy, as more people are realizing the importance of preserving natural resources and reducing waste. Companies that make natural fiber composites are in a good position to profit from the growing demand for sustainable products since they provide traditional materials a more ecologically friendly alternative.

The prominent players in the Natural Fiber Composites market are

Trec Company, Inc.
FlexForm Technologies
Fiberon Technologies, Inc.
The AZEK Company LLC
Polyvlies
Procotex
DuPont
GreenCore Composites Inc.
Meshlin Composites Zrt
GreenGran B.V.
UPM
Plasthill Oy
Green Dot Bioplastics Inc
Tecnaro GmbH
Jelu-werkJ
Ehrler GmbH & Co.
Bcomp Ltd.
Lingrove Inc

Natural Fiber Composites Market Recent Developments:

In June 2022, ARBOTRADE GmbH was established as a joint venture by Technaro and JOMA-POLYTEC. With the purpose of replanting of forests, the joint venture offers goods composed of bioplastics. This merger establishes a link with a significant amount of additional value. Customers may obtain everything from the raw material to the finished product from a single source thanks to TECHNARO's role as a material developer and producer and Joma-role Polytec's as a material processor. The market-facing sales of the ground-breaking internal developments are subsequently taken up by the joint corporation, ARBOTRADE GmbH.

October 2021, To make it easier for customers to create a unique outdoor retreat, The AZEK Company Inc., through its TimberTech Composite Decking, teamed with Yardzen, a leading online landscape design platform.

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Natural Fiber Composites Market Key Findings:

By fiber type, Load-bearing structures including beams, roofs, multifunctional panels, water tanks, and pedestrian bridges are made using natural fiber composites. NFCs are also used to create structural beams and frames for pedestrian bridges with light to medium design loads. Moreover, natural fiber composites are utilized to make beams because of their lower cost, lower density, and favorable environmental consequences, such as the need for less energy and carbon dioxide during manufacture compared to synthetic composites.

By technology, The market is divided into injection molding, compression molding, and other categories based on technology. In 2022, the category that dealt with injection molding had the biggest market share. A common manufacturing procedure for mass production is injection molding. The popularity of injection molding is largely due to great processability, despite the fact that the reinforcing fiber deteriorates throughout the procedure. The domination of the injection molding market is a result of rising demand for composite materials from the automotive, hardware/apparatus, medical, and bundling industries.

By application, The market is divided into automotive, electronics, construction, and other applications. In 2022, the automotive industry accounted for the highest market share. Automobile manufacturers all over the world have increased their investments as a result of the growing demand for hybrid and electric vehicles. The world's booming automobile business continues to play a significant role in the market expansion for natural fiber composites.

The market is divided into four regions based on geography: North America, Europe, Asia-Pacific, and LAMEA. With a sizable population and a developing middle class, the Asia-Pacific area is one of the regions of the globe that is expanding the quickest. The Asia-Pacific region is experiencing rapid industrialization, which is driving demand for lightweight and high-performance materials.

Natural Fiber Composites Market Regional Analysis:

North America to Dominate the Market

Natural fiber composites are increasingly used in a variety of industries, including automotive, electrical & electronics, and building & infrastructure, which is primarily driving the growth of the natural fiber composites market in Asia Pacific. Countries like China, India, and Japan dominate the market in these end-use industries.

The Asia Pacific area is the leader in the world's building and construction sector, which enjoys significant growth there due to substantial infrastructure development activities in the majority of countries. Large-scale infrastructure projects, building & construction projects, as well as civil and environmental applications, are being funded by emerging economies including China, India, Japan, Malaysia, Indonesia, and South Korea.

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