Natural Fiber Composites Market worth $424 million by 2028 | Key players FlexForm Technologies, Meshlin Composites Zrt, GreenCore Composites Inc., GreenGran B.V.

According to recent market research the "Natural Fiber Composites Market by Type (Flax, Kenaf, Hemp), Resin Type (PP, PE, PA), Manufacturing Process (Injection Molding, Compression Molding), End-use Industry (Automotive, Building & Construction), Region - Global Forecast to 2028", is projected to grow from USD 328 million in 2023 to USD 424 million by 2028, at a CAGR of 5.3% during the forecast period. Natural fiber composites are getting widely used in multiple end-use industries such as automotive, construction, electrical & electronics, sporting goods, medical & pharmaceuticals, and others.

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The natural fiber composites market has been segmented based on the type into flax, kenaf, hemp and others. In 2022, the flax segment dominated the global natural fiber composites market. Flax fiber composites offer a high strength-to-weight ratio, making them suitable for use in a wide range of applications in the automotive, construction, and other end-use industries.

The natural fiber composites market is segmented based on resin types as PP, PE, PA and others. PP resins are dominantly used with almost all type of non-wood fibers efficiently to manufacture composites. High adoption, easy processing and multiple applications makes PP resin widely used fiber type in the natural fiber composites market.

Based on manufacturing process, the market is segmented into compression molding, injection molding, and others. The compression molding process holds the largest share. The automotive and construction industries are the key end users of compression-molded natural fiber composites due to their benefits, such as cost-effectiveness, high reproducibility, and low cycle time.

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Various end-use industries such as automotive, building & construction, and others have been considered. In terms of value, automotive segment dominated the market in 2022. The demand for natural fiber composites in the automotive industry is growing due to several benefits over synthetic fibers. Investing in automotive applications is the most lucrative opportunity for stakeholders operating in the natural fiber composites market.

Europe accounts for a major share of the overall natural fiber composites market, followed by North America and Asia Pacific. The high demand for natural fiber composites in these regions is due to the increasing demand for non-wood fiber composites in the construction industry. The country has presence of wide number of top natural fiber composites manufacturers.

The key players in the market include Procotex SA Corporation NV (Belgium), Polyvlies Franz Beyer GMBH & Co. KG (Germany), Tecnaro GmbH (Germany), FlexForm Technologies (US), Meshlin Composites Zrt (Hungary), GreenCore Composites Inc. (Canada), GreenGran B.V. (Netherlands), and Jelu-werk Josef Ehrler GmbH Co & Co. KG (Germany) and others. These manufacturers have been adapting different organic and inorganic developmental strategies over the past five years for their market growth.

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Tecnaro GmbH is a spinoff of Fraunhofer-Institut Chemische Technologie (ICT) established in 1998. The name of the company is a synonym for the application of the existing plastics processing engineering. The company is into the development, production, and marketing of ARBOFORM, ARBOFILL and ARBOBLEND. It has a manufacturing capacity of 5000 tons of ARBOFORM, annually. ARBOFORM is made of renewable raw material and is mainly used for injection molded woods applications.

Procotex SA Corporation NV is a wholly owned subsidiary of the holding company Dolintex NV. The parent company has two delocalized flax manufacturing units in Lithuania. The company has its head office and production units in Belgium. The location of the company helps it in trading processed flax fiber to various industries, namely, the spinning sector, the paper industry, the sanitary world, and the composites industry. The products manufactured by the company serve as a raw material in various industries such as automotive, thermoplastic, thermoset, rubber, paper, and electric among others.

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