Global Natural Fiber Composites (NFC) Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Global Natural Fiber Composites (NFC) Market Overview :

“The global Natural Fiber Composites (NFC) Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027.

The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global natural fiber composites (NFC) market report has been segmented on the basis of raw material, technology, application, and region.

Natural fiber is considered one of the environmentally friendly composite materials which have good properties as compared to synthetic fiber.

On the basis of raw material, wood segment dominated the target market and is estimated to maintain its dominance over the forecast period. Advantages of wood such as solidity and high strength are expected to drive market growth.

On the basis of technology, compression molding in the global natural fiber composites is estimated to hold major revenue share and is expected to maintain its dominance over the forecast period. Compression molding is a high volume and pressure molding mainly used to mold high-strength and complex products for industries such as construction, automotive & transportation, and home appliances.

On the basis of application, building & construction application segment is estimated to hold major revenue share in global natural fiber composites (NFC) market over the forecast period. In construction industry natural fiber composites are widely used in roofs, floors, beams, balcony, and fire doors. Properties of natural fiber composites such as lightweight, biodegradability, and low environmental impact are expected to fuel market growth.

North America market is estimated to hold significant revenue share in the global natural fiber composites (NFC) market, in 2017 and is expected to maintain its dominance over the forecast period. Presence of large number of fiber composites manufacturers in the region is expected to fuel market growth over the forecast period.

North America accounts for largest revenue share contribution to the target market, followed by markets in Asia Pacific, Europe, Latin America, and Middle East & Africa respectively. Growing demand for automobiles in countries such as US and Canada is anticipated to boost market growth over the forecast period.

Growing demand for consumer goods coupled with increasing demand for center consoles, door panels, and instrument panels in automotive industry is anticipated to propel market growth in next ten years.      

Market segmentation and key players operating in the global natural fiber composites (NFC) market:

By raw material:

• Wood
• Non-wood

By technology:

• Injection molding
• Compression molding
• Others

By application:

• Automotive
• Electrical and electronics
• Building & construction
• Others (Sports goods, home appliances, and packaging)

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa