GLOBAL NATURAL FIBER REINFORCED COMPOSITES MARKET BY GEOGRAPHY
The Global Natural Fiber Reinforced Composites market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
North America accounted for the largest share of total market revenue in 2022, in the total Global Natural Fiber Reinforced Composites Market. It is due to the rising adoption in the manufacturing of fiberboards, particle boards, and composite panels in the region.
Leading producers of bio-composite materials are moving their operations to the Asia Pacific region. More foreign direct investment (FDI) from western nations is attracted to Asia Pacific countries due to government initiatives supporting the establishment of eco-friendly material start-ups.
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COMPETITION SCENARIO IN GLOBAL NATURAL FIBER REINFORCED COMPOSITES MARKET
The Global Natural Fiber Reinforced Composites Market is highly competitive with ~150 players that include globally diversified players, regional players, and many country-niche players. The market is highly competitive, with both large and small companies competing by offering a range of goods through a substantial distribution network. From production to the delivery of final goods to different places, the businesses in this sector are very intertwined.
Large global players control about 20% of the market share, while regional players hold the largest share in the market. Some of the major players in the market include Trex Company Inc., UPM Biocomposites, The AZEK Company LLC, FlexForm Technologies LLC, GreenCore Composites, Green Dot Bioplastics Inc., Procotex Corp SA, Polyvlies Franz Beyer GmbH, Amorim Cork Composites SA, NPSP BV, Tecnaro Gmbh, and others.
What is the Expected Future Outlook for the Overall Global NATURAL FIBER REINFORCED COMPOSITES Market Across the globe?
The Global Natural Fiber Reinforced Composites market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Natural Fiber Reinforced Composites market is driven by rising environmental concerns and rising use of bio-based fiber composite in the automotive industry. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaborations and emergence of new products, the Global Natural Fiber Reinforced Composites market is changing rapidly. For instance, In October 2021, Lanxess introduced a biodegradable material to its Tepex line of continuous-fiber-reinforced thermoplastic composites. The substance blends polylactic acid made from biomaterials with natural flax fibers.
In October 2021, Green Dot Bioplastics Inc. and Mayco International collaborated to produce a sustainable solution for waste generated during the manufacturing of automobile components by recovering trim and scrap fibers for Natural Fiber Reinforced Plastic (NFRP).
Furthermore, the market for natural fiber reinforced composites is expanding primarily as a result of rising environmental concerns and the consequent rise in demand for bio-based composite materials. These composite fibers are made from several plants’ bast, or outside stem. When compared to items made from oil, the use of these composites can cut carbon footprint by nearly 50%. These natural fibers are also up to 100% recyclable. All of these factors are fueling market expansion.
The Global Natural Fiber Reinforced Composites Market is forecasted to continue the significant growth since 2019. One of the major trends driving market expansion is the automobile industry’s spiraling demand for lightweight products as well as the consumer’s rising awareness of green products. Though the market is highly competitive with around 150 participants, few global players control the dominant share and regional players also hold a significant share.
Key Topics Covered in the Report
- Snapshot of Global Natural Fiber Reinforced Composites Market
- Industry Value Chain and Ecosystem Analysis of Natural Fiber Reinforced Composites Market
- Market size and Segmentation of Global Natural Fiber Reinforced Composites Market
- Historic Growth of Overall Global Natural Fiber Reinforced Composites Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Natural Fiber Reinforced Composites Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- Covid 19 Impact on the Overall Global Natural Fiber Reinforced Composites Market
- Future Market Forecast and Growth Rates of the Total Global Natural Fiber Reinforced Composites Market and by Segments
- Market Size of Fiber Type / End-User Segments with Historical CAGR and Future Forecasts
- Analysis of Natural Fiber Reinforced Composites Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Production/Supply and Consumption/Demand Hubs in Each Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within each Major Country
Major Companies Profiled in the Report
- Trex Company Inc.
- UPM Biocomposites
- The AZEK Company LLC
- FlexForm Technologies LLC
- GreenCore Composites
- Green Dot Bioplastics Inc.
- Procotex Corp SA
- Polyvlies Franz Beyer GmbH
- Amorim Cork Composites SA
- NPSP BV
- Tecnaro Gmbh
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Notable Emerging Companies Mentioned in the Report
- Leigh Fibers
- Environmental Composites
- Lingrove
- Shijiazhuang Bairuisite Cellulose Co LTD
- MCG BioComposites LLC
- Composite ReFiber Types
- Gi Natural Fibre Composites Pvt. Ltd.
- Engineered Fibers Technology LLC
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Natural Fiber Composites Companies
- Natural Fiber Composites Providers
- Natural Fiber Composites Manufacturers
- Natural Fiber Composites Suppliers
- Natural Fiber Types Researchers
- Vehicle Manufacturers
- Jute Natural Fiber Composite Manufacturers
- Flax Natural Fiber Composite Manufacturers
- Hemp Natural Fiber Composite Manufacturers
- Sisal Natural Fiber Composite Manufacturers
- Kenaf Natural Fiber Composite Manufacturers
- Construction Companies
- Electronics Manufacturers
- Furniture Manufacturers
- Wood Fiber Manufacturers
Time Period Captured in the Report
- Historical Period: 2019-2021
- Forecast Period: 2022-2030F
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Global Natural Fiber Reinforced Composites Market
