PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1127427
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1127427
Natural fibre reinforced composites Market size was valued at USD 4,900.6 Million in 2021, growing at a CAGR of 7.1% from 2022 to 2028.
Composite materials that contain at least one fibre made from renewable, carbon dioxide-neutral resources like plants and wood are known as natural fibre reinforced composites. Applications for natural fibre reinforced composites are expanding quickly due to their many benefits, including low cost, biodegradability, environmental friendliness, reasonably acceptable mechanical qualities, and others.
The market for natural fibre reinforced composites is being driven by the rising demand for bio-based composites and innovative eco-friendly composites in the electronics sector. However, the market will be slowed down by factors like moisture absorption, limited processing temperature, incompatibility with most polymer matrices, and worse impact resistivity than glass fibre-reinforced composites. The flame resistance of natural fibre-reinforced polymer composites is anticipated to open up new industry prospects.
The increasing demand for bio-based composites is a significant driver. The market for natural fibre-reinforced polymers (NFRP) is expected to rise as a result of the rising demand for innovative eco-friendly composites in the electronics sector. On the other hand, it is anticipated that the limited processing temperature, moisture absorption, unsuitability with most polymer matrices, and decline in impact resistivity in comparison to glass fibre reinforced composites will further restrain the growth of the natural fibre-reinforced plastics (NFRP) market over the timeline. Additionally, the growing demand for natural fibre-reinforced plastic from the aerospace, architecture and construction, and sporting goods industries will open up additional prospects in this sector (NFRP)
The Global Natural fibre reinforced composites Market is segmented on the basis of Fiber Type, Polymer, End User and Region.
The market is divided into six categories based on end-user: Aerospace, Automotive, Building and Construction, Electrical and Electronics, Sports, and Others. Building and construction held the majority of the market share of nearly 41.2% in terms of revenue. In the building materials sector, demand for environmentally friendly materials is constant. Due to its many benefits, natural fibre-reinforced polymer-based composites are being used more frequently in civil engineering construction applications. Composites with wood fibre reinforcement can be used for moulding, trim, fencing, and decking. Wood fibre reinforced composites are the preferred alternatives to wood in many applications because of their minimal maintenance requirements and resistance to weathering, staining, and warping. Many wood-fibre composites, such as shower walls, bathtubs, fibre-reinforced panels (FRP), privacy separators, and translucent decorative panels, can be replaced with non-wood natural fibres. To achieve long-term sustainability, composite materials are becoming more and more important in the construction industry.
The global market for Natural fibre reinforced composites is made of a number of both international and local producers, making it a fairly competitive sector in the world. Some of the leading strategies adopted by corporations to expand their market share include new product launches, agreements, distribution network development, R&D spending, and mergers and acquisitions.
The AZEK Company partnered with Yardzen in October 2021, to simplify the process for homeowners looking to design a custom outdoor oasis. The acquisition was made through its TimberTech Composite Decking. In October 2021, Green Dot Bioplastics Inc. partnered with Mayco International to reclaim trim and scrap fibres for Natural Fiber Reinforced Plastic (NFRP) for the production of a sustainable solution for waste produced during manufacturing automotive components.
The scope of this report covers the market by its major segments, which include as follows: