Dublin, May 22, 2023 (GLOBE NEWSWIRE) -- The "Natural Fiber Composites Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Raw Material, Technology, and End User" report has been added to ResearchAndMarkets.com's offering.
The natural fiber composites market is expected to grow from US$ 4,438.83 million in 2022 to US$ 6,910.46 million by 2028; it is estimated to register a CAGR of 7.7% during the forecast period.
Natural fiber composites are made from wood fibers, flax, jute, and hemp. The materials are reinforced in a polymeric resin matrix. The matrix helps provide a shape to the composite, and protects the fibers from mechanical damage and environmental degradation. Natural fiber composites are eco-friendly, low-cost, bio-based, and sustainable materials.
Owing to the rising concern and awareness about the environmental and social impacts of conventional building materials, composite manufacturers are shifting toward environment-friendly raw materials. Moreover, the increasing stringency of regulations, legislation, and policies in the European construction industry concerning environment protection, energy efficiency, and economic quality has encouraged a shift toward green construction, in turn, bolstering the demand for sustainable building materials. These factors are driving the natural fiber composites market growth.
On the basis of raw material, the natural fiber composites market is categorized as wood, cotton, flax, kenaf, hemp, and others. In 2022, the wood segment held the largest market share. Wood has long been used as a construction material due to its strength and natural aesthetics.
The method of producing wood fiber that is used to manufacture hardboard and insulation board is similar to that of MDF fiber. Softwoods are coniferous or evergreen trees that produce wood with a low density, e.g., spruce and pine. In contrast, hardwoods are deciduous trees that have broad leaves with high-density wood, such as maple, mahogany, and oak.
Wood contains polymers such as cellulose, lignin, and various hemicelluloses that have very different properties than synthetic polymers with which they are most often combined. Wood is stiffer, less expensive, and stronger than these synthetic polymers, making it a useful filler or reinforcement.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 209 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $4438.83 million |
| Forecasted Market Value (USD) by 2028 | $6910.46 million |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increasing Demand for Natural Fiber Composites from Automotive Industry
- Growing Focus on Eco-Friendly and Sustainable Products
Restraints
- Hygroscopicity of Natural Fiber Composites
Opportunities
- Applications of Natural Fiber Composites in Sporting Goods Applications
Future Trends
- Development of Natural/Synthetic Fiber-Based Hybrid Composites
Companies Mentioned
- UPM-Kymmene Corp
- Flexform Technologies LLC
- Polyvlies Franz Beyer GmbH
- Amorim Cork Composites SA
- Tecnaro GmbH
- Lanxess AG
- Bcomp Ltd
- Cobra Advanced Composites Co Ltd
- Plasthill Oy Ltd
- Lingrove Inc
For more information about this report visit https://www.researchandmarkets.com/r/lterx
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