Natural fibers, as compared to synthetic fibers, exhibit better thermal stability following chemical treatments. These treatments improve the mechanical, thermal, and wettability properties of the natural fibers. The chemical treatment also changes the fiber's morphology, surface chemistry, and pore structure. This process increases the strength and stiffness of natural fibers and improves their adhesion to the matrix. They are an excellent option for a wide variety of applications, including bridge and road construction, aerospace, and automotive industry.
Market Statistics:
The global Natural Fiber Reinforced Composites market was valued at US$ 2,740.30 Mn in 2020 and is forecast to reach a value of US$ 3,940.00 Mn by 2028 at a CAGR of 5.30% between 2021 and 2028.
Asia Pacific held dominant position in the global Natural Fiber Reinforced Composites market in 2020, accounting for 64.1% share in terms of volume, followed by North America, Europe and Latin America, respectively.
Figure 1. Global Natural Fiber Reinforced Composites Market Value Share (%), By Region, 2021
Recent Developments:
Market Drivers:
Increasing demand for bio-based composite materials due to growing environmental concern is a prime factor driving growth of the natural fiber reinforced composites market. These fiber composite are derived from the bast or outer stem of various plants. Use of these composite can reduce the carbon footprint by 50% compared to oil-based products. Additionally, these natural fiber are recyclable (up to 100%). All these factors are expected to drive market growth.
Growing use of bio-based fiber composite in automobile industry is again fostering market growth. Due to their lightweight properties they are increasingly used in production of electric vehicle components. Moreover, these composite can be used in floor panels, door panels, seat backs, under floor pans, headliners, and trunk liners in cars and trucks, due to its competitive stiffness and strength to various synthetic fibers and good acoustic insulation characteristics.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2020 | Market Size in 2021: | US$ 2,740.30 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2028 |
| Forecast Period 2021 to 2028 CAGR: | 5.30% | 2028 Value Projection: | US$ 3,940.00 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Amorim Cork Composites SA, Fiberon, Flexform Technologies, Green Dot Bioplastics Inc, GreenGran BN, International Paper, JELU-WERK J. Ehrler GmbH & Co. KG, Meshlin Composites Zrt, NPSP BV, Oldcastle APG, Polyvlies Franz Beyer GmbH, TECNARO GmbH, The AZEK Company Inc., Trex Company Inc., TTS, and UPM |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Figure 2. Global Fiber Reinforcement Composites Market Value Share (%), By Fiber Type, 2021
Market Restraints:
Researches have demonstrated that the physical properties, such as dimensional instability and glass transition temperature (Tg), and mechanical properties, such as flexural, tensile, fracture, and impact, reduces, when the natural fibers absorb the moisture. This is, majorly, due to the reduction in interfacial bonding between the fiber and the matrix. These moisture can lead to the formation of voids in the composite matrix. This factor is expected to hinder the market growth.
Moreover, low impact resistivity compared to glass fiber reinforced composites is again expected to lower the adoption of bio-based fiber composite. Various results have shown that the impact resistance (notched and un-notched) of natural fiber composites is drastically lower than the glass fiber reinforced composites, and such behavior should be majorly due to the lower fiber strength. This is expected to restrict the market growth.
Market Opportunities:
Increasing use of flame retardant during natural fiber reinforced composites manufacturing is expected to bring profitable growth opportunities for the key player’s active in the market. For instance, some of the key flame retardants used during the natural fiber reinforced composites manufacturing, include, Ammonium polyphosphate (APP), Magnesium hydroxide (Mg(OH) 2), Zinc borate (Zb), and Graphite. Some of the other flame retardant additives, include, halloysite nanotubes, phosphorous compounds, sodium meta silicate, nano-clays, and others.
Growing use of natural fiber reinforced composite in construction sector especially civil engineering construction application is expected to offer potential growth opportunities over the forecast period. For instance, wood fiber-reinforced composites can be used for fencing, decking, molding, trim, etc. They are low maintenance cost and resistance to stains, weathering, and warping.
Market Trends/Key Takeaways:
New product launch by key players to expand the market presence is expected to contribute to the market growth. This trend is estimated to uplift the market growth in the near future. For instance, in October 2021, Lanxess has added a new product to its Tepex line of continuous-fibre-reinforced thermoplastic composites.
Growing trend of go-green and changing lifestyle of consumer is expected to supplement the market growth. Use of inorganic compound with natural fiber composite to improve the cracking deformation of composite, toughness, and tensile strength properties will further favour the market growth.
Competitive Landscape:
The properties of Natural Fiber Reinforced Composites can be varied, as these materials are derived from both plant and animal sources. Mechanical properties of natural fibers depend on the matrix, fillers, fiber content, fabrication processes and many other variables. The main benefits of natural fibers include their low density and high specific strength properties. This means that they can be used in a variety of applications, including construction and manufacturing. These composites can also be made from agricultural wastes.
Market Dynamics:
Increasing demand from automotive and construction industry due to its lightweight, excellent specific mechanical properties, low cost, and low density properties is driving growth of the natural fiber reinforced market. On the other hand, low impact resistance properties as compared to glass reinforced composite and fluctuating price of raw materials are expected to hinder market growth.
Nevertheless, increasing research &developments activities and growing application in electronic industry are expected to bring bright opportunities for the market players.
Key features of the study:
Detailed Segmentation:
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