Natural Fiber Reinforced Composites Market – Growth, Trends, and Forecast (2019 – 2024)

The market is segmented by Fiber Type (Wood Fiber Composites and Non-wood Fiber Composites), Polymer (Thermosets and Thermoplastics), End-user Industry (Aerospace, Automotive, Building & Construction, Electrical & Electronics, Sport, and Other End-user Industries), and Geography.

Market Snapshot

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Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The market for natural fiber reinforced composites is expected to register a CAGR of 10.93% during the forecast period (2019-2024). A major factor driving the natural fiber reinforced composites market is the increasing demand for bio-based composites in the automotive industry. On the contrary, hydrophilic nature of natural fiber reinforced composites is expected to hinder the market growth, due to poor dimensional stability, processability, and porous nature.

  • Buildings & construction dominated the market in 2018, and is expected to grow during the forecast period.
  • Flame retardancy of the natural fiber reinforced polymer composites is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market across the world, due to the increasing construction activities.

Scope of the Report

The natural fiber reinforced composites market report includes:

By Fiber Type
Wood Fiber Composites
Non-wood Fiber Composites
By Polymer
Thermosets
Thermoplastics
Polyethylene
Polypropylene
Poly Vinyl Chloride
Others
By End-user Industry
Aerospace
Automotive
Building & Construction
Electrical & Electronics
Sport
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Australia & New Zealand
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand from the Construction Industry

  • There is always a continuous requirement for eco-friendly materials in the building materials industry.
  • Wood fiber reinforced composites can be used for decking, fencing, molding, trim, etc. Owing to their low maintenance costs and resistance to weathering, stains, and warping, wood fiber reinforced composites are the desirable alternates for wood in these applications. 
  • Wood fiber reinforced composites are costlier than processed wood. However, they are relatively cheaper than other natural fiber reinforced composite materials for the construction industry.
  • Non-wood natural fibers can be used as a substitute for many wood fiber composites that are being used as building materials. There are several other opportunities to use non-wood natural fibers in the construction industry.
  • Owing to the ongoing growth and investments in the construction industry in the region, the market for natural fiber reinforced composite materials is expected to grow significantly during the forecast period, especially in the Asia-Pacific region.
natural fiber segment

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Asia-Pacific Region to Dominate the Market

The Asia-Pacific region dominated the global market share in 2018. With growing construction activities and rising demand from the automotive industry in countries, such as China, India, and Japan, the usage of natural fiber reinforced composites is increasing in the region. The consumption of natural fiber reinforced composites is high in the construction industry. Furthermore, the automotive industry is one of the most prominent consumers of bio-based composites. Factors, such as increasing automotive production and sales in the region, and an increasing number of automotive OEM manufacturers, are expected to drive the market in Asia-Pacific. The aforementioned factors are contributing to the increasing demand for the consumption of natural fiber reinforced composites in the region, during the forecast period.

natural fiber region

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Competitive Landscape

The market studied is fragmented, with the top five companies accounting for around one-fourth share of the market. The major companies include Trex Company Inc., Fiberon, FlexForm Technologies, UPM, and Azek Building Products, amongst others.

Major Players

  1. Trex Company, Inc.
  2. Fiberon
  3. AZEK Building Products
  4. FlexForm Technologies
  5. UPM

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Bio-based Composites in Automotive Industry

      2. 4.1.2 Growing Demand for New Ecofriendly Composites in Electronics Industry

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Moisture Adsorption, Restricted Processing Temperature, and Incompatibility with most of the Polymer Matrices

      2. 4.2.2 Lower Impact Resistivity Compared to Glass Fiber Reinforced Composites

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Fiber Type

      1. 5.1.1 Wood Fiber Composites

      2. 5.1.2 Non-wood Fiber Composites

    2. 5.2 By Polymer

      1. 5.2.1 Thermosets

      2. 5.2.2 Thermoplastics

        1. 5.2.2.1 Polyethylene

        2. 5.2.2.2 Polypropylene

        3. 5.2.2.3 Poly Vinyl Chloride

        4. 5.2.2.4 Others

    3. 5.3 By End-user Industry

      1. 5.3.1 Aerospace

      2. 5.3.2 Automotive

      3. 5.3.3 Building & Construction

      4. 5.3.4 Electrical & Electronics

      5. 5.3.5 Sport

      6. 5.3.6 Others

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Australia & New Zealand

        6. 5.4.1.6 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Spain

        6. 5.4.3.6 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Fiberon

      2. 6.4.2 FlexForm Technologies

      3. 6.4.3 GreenCore Composites Inc.

      4. 6.4.4 GreenGran BV

      5. 6.4.5 Jelu-Werk Josef Ehrler GmbH & Co. Kg

      6. 6.4.6 Meshlin Composites Zrt.

      7. 6.4.7 Polyvlies Franz Beyer GmbH & Co. Kg

      8. 6.4.8 Procotex SA Corporation NV

      9. 6.4.9 Tecnaro GmbH

      10. 6.4.10 Trex Company Inc.

      11. 6.4.11 TTS (Tekle Technical Services Inc.)

      12. 6.4.12 UPM Biocomposites

      13. 6.4.13 Weyerhaeuser Company

      14. 6.4.14 Amorim Cork Composites SA

      15. 6.4.15 AZEK Building Products

      16. 6.4.16 Oldcastle APG

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Flame Retardancy of the Natural Fiber Reinforced Polymer Composites

    2. 7.2 Emerging Applications in Marine Industry

**Subject to Availability

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