The global natural fiber composites market is projected to reach $831 billion by 2027, at a CAGR of 8.3% during 2021-2027. The growth of natural fiber composites market is driven by the rise in demand for lightweight and environmentally sustainable composite materials in various applications, such as automotive, building & construction, and others.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the natural fiber composites market by application (automotive, building and construction, and others), fiber (hemp, flax, kenaf, jute, and others), resin type (polypropylene, polyethylene, polylactic acid, and others), process (compression molding, injection molding, and others), and by region (North America, Europe, Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the natural fiber composites market?
Q.4 What are some changing demands of customers in the natural fiber composites market?
Q.5 What are the new developments in the natural fiber composites market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this natural fiber composites area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this natural fiber composites market?
Emerging trends, which have a direct impact on the dynamics of the industry, include government support to innovate and commercial use of bio-based composites and emergence of new applications.
Based on application, the natural fiber composites market is segmented into automotive, building and construction, and others. The automotive segment accounted for the largest share of the market in 2021 and is expected to register the highest CAGR during the forecast period, due to increasing concern for passenger safety, government mandates for better fuel economy, and end-of-life vehicles directive. Automotive is expected to witness highest growth over the forecast period.
Europe is expected to remain the largest market for natural fiber composites composites because of growth in applications. North America expected to witness the highest growth over the forecast period because of due to higher acceptance level of environmentally sustainable composite materials by automotive OEMs, government directives.
Key Players in the natural fiber composites market are Procotex, FlexForm, FiberGran, GreenGran, and Tecnaro.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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