Natural fiber composites are high strength and stiff structures of reinforced matrices (of plants and animals) derived from natural fibers such as cotton, jute, etc. Such nautral fiber composites have more strength and are relatively lighter as compared to conventional fibers which is responsible for its large adoption across various applications including electrical, electronics, building & construction, automotive, etc. The global natural fiber composites market is expected to rise with the CAGR of about 10.5% during the forecast period 2016-2023. High adoption ofnatural fiber composites as wood substitutes in housing and construction sectoris a key trend for the global natural fiber composites market during the forecast period. Rising awareness of bio based green building materials, increasing demand for green composites and bio composites as well as supportive government regulations for natural fiber compasites are some of the major factors contributing to the growth of global natural fiber composites market during the forecast period.
Large demand for green composites and bio composites is one of the major factors which contributes to growth of global natural fiber composites market during the forecast period. According to the Journal of Applied Mechanical Engineering (Open Access Journal), green composites combine natural resins with plant fibers to create natural composite materials. Such composites are expected to emerge due to their low cost, light weight, and a superior environmental alternative to synthetic fibers. These composites are renewable, easily recycled, easily available in abundance and are carbon dioxide neutral, which is responsible for its large adoption among end users. This is likely to promote the market growth during the forecast period.
Source: OBRC Analysis
The report on the global natural fiber composites market is segmented on the basis of type, manufacturing process and applications.
Types of natural fiber composites include:
- Wood fiber composites
- Non wood fiber composites
Manufacturing process in natural fiber composites include:
- Compression molding
- Injection molding
- Other manufacturing process
The applications of natural fiber composites are divided as:
- Building & construction
- Automotive
- Electrical & electronics
- Other applications
The report scope is widely categorized on the basis of its segments such as type, manufacturing process and applications. Moreover, the market revenue estimates and forecast includes only natural fiber composites. However, the report scope excludes synthetic fibers.
Geographically, the global natural fiber composites market report has been segmented in:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America accounted for the largest market share in terms of revenue in 2016 for the global natural fiber composites market followed by Asia Pacific and Europe. North America is expected to dominate the market during the forecast period. The dominance of North America is witnessed due to high demand of natural fiber composites from the construction industry. According to the Scientific Research Publishing (SCIRP), China, in United States, composite building materials are being made of straws which are majorly used in building construction. This majorly contributes to the dominance of North America natural fiber composites market during the forecast period. Asia Pacific is expected to be the fastest growing region for natural fiber composites market during the forecast period. The fastest growth rate in Asia Pacific is witnessed due to growth in construction and automotive industry. Major car manufacturers such as BMW and Audi adopt non-wood fiber composites for designing of exterior and interior parts of the vehicle, which is responsible for fastest growth rate of Asia Pacific.
Global natural fiber composites market report covers segmentation analysis of type, manufacturing process and applications. Report further covers segments of type which includes wood fiber composites and non wood fiber composites. Non wood fiber composites held the largest market share in terms of revenue in 2016 and it is expected to dominate the market during the forecast period. Dominance of non wood fiber composites is witnessed due to its large adoption in automotives and by construction industry. Manufacturing process in natural fiber composites includes compression molding, injection molding and other manufacturing process. The applications of natural fiber composites are divided as building & construction, automotive, electrical & electronics and other applications. Automotive segment is expected to be the fastest growing segment during the forecast period. The highest growth rate in automotive application is expected due to rising concerns regarding passenger safety, government regulations for better fuel economy, etc. This is expected to spur growth for automotive application during the forecast period.
The major market players of the global natural fiber composites market are:
- ADVANCED ENVIRONMENTAL RECYCLING TECHNOLOGIES, INC.
- GREENCORE COMPOSITES INC.
- TREX COMPANY, INC.
- UPM BIOCOMPOSITES
- WEYERHAEUSER COMPANY
- OTHERS
These companies use various strategies such as merger & acquisition, collaboration, partnership and product launch whereas, strategic partnership is the key strategy adopted by the companies in the global natural fiber composites market.
For example: In 2017, Trex company entered into a strategic partnership with Amerhart Limited. The major aim of this partnership was to increase the company’s global footprint in natural fiber composites. This is expected to increase the dominance of the company by increasing the market revenue share and customer base of the company.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in the global natural fiber composites market.
Key reasons to buy the report:
- The report includes market estimation, forecast and analysis for the year 2016-2023.
- Report includes detailed analysis of different segments such as type, manufacturing process and applications.
- Identify and understand the strength, opportunities, challenges and threat during the forecast period.
- Covers detailed analysis of Porters 5 force model and other strategic models. Also covers revenues, market share analysis, and competitive landscape analysis of major players of the global natural fiber composites market.
- Detailed analysis of various regulatory policies which are affecting the global natural fiber composites market during the forecast period.
How are we different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on the global natural fiber composites market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the global natural fiber composites market, with giving extensive SCOT analysis of key companies.
Key findings of the global natural fiber composites market:
- Demand for green composites and bio composites is one of the major factors which contributes to growth of global natural fiber composites market during the forecast period.
- North America is expected to dominate the global natural fiber composites market during the forecast period.
- Automotive application is expected to be the fastest growing segment in the global natural fiber composites market during the forecast period.
- Strategic partnership is the key strategy adopted by the companies in the global natural fiber composites market during the forecast period.