Vancouver, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The global natural fiber composites market, valued at USD 5.20 billion in 2022, is poised to experience a robust revenue CAGR of 12.5% during the forecast period. The surge in demand for eco-friendly and bio-based composite materials in the aerospace and automotive sectors, driven by the need for lightweight materials and the rising popularity of Electric Vehicles (EVs), stands as a key catalyst for market growth.
In response to increasing environmental consciousness and sustainability considerations, efforts are underway to design biobased composite materials as alternatives to traditional non-renewable synthetic fibers like glass and carbon-reinforced composites. Natural fibers, including hemp, wood, basalt, rice husk, coir, sisal, ramie, flax, kenaf, and jute, are gaining traction as potential substitutes. The biocomposites made of biofiber and biopolymers offer necessary qualities and functions at an affordable price, with the added benefit of being biodegradable, enabling environmentally friendly disposal or recycling.
The hydrophilic nature of natural fibers presents a challenge to their widespread use, limiting applications to interior structures. However, ongoing research addresses this concern through chemical treatment to enhance moisture-related qualities. Additionally, the diversity in fiber characteristics complicates their use in composite materials. Yet, strides have been made in biocomposites' processing, characterization, applications, and the utilization of different raw materials.
A notable trend in the market is the increasing adoption of natural fiber composites in the food industry for packaging. With a focus on countering environmental challenges posed by single-use plastic waste in food packaging, Research & Development (R&D) efforts have shifted towards bioplastics and bioresources. Various plant-based fiber materials are being used in food packaging, enhancing strength through casting, melt mixing, hot pressing, compression molding, and injection molding processes. The low carbon footprint and biodegradability of natural fiber composites make them a popular choice for packaging materials like trays, containers, and bags.
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Flax emerges as the leading segment, contributing the largest revenue share in the global natural fiber composites market in 2022. The demand for sustainable solutions and the increasing popularity of flax fibers in composites drive this trend. Flax fibers, surface-treated to improve interfacial adhesion with polymer matrices, exhibit mechanical properties similar to glass fibers at a lower cost. The recyclability and biodegradability of composites made with flax fiber contribute to their appeal. Wood composites, including Oriented Strand Board (OSB), plywood, decking, and parallams, are anticipated to experience moderate revenue growth. The durability and cost-effectiveness of wood composites, made from scrap wood and recycled plastic, contribute to their appeal.
The inorganic compound segment is expected to dominate the global natural fiber composites market, driven by enhanced impermeability and durability. Inorganic compound matrices like cement and gypsum provide better fire resistance, making them suitable for products and building materials that must meet stringent fire safety regulations. The natural polymer segment is projected to witness the fastest revenue growth, attributed to improved performance through interfacial bonding between natural fibers and polymer matrices. High-strength natural fibers, including jute, oil palm, sisal, kenaf, and flax, enhance properties in Natural Fiber Polymer Composites (NFPCs), catering to diverse applications.
The construction segment is set to lead the market, driven by the increasing sustainability of natural fiber composites. The construction industry, a major consumer of composite materials, finds natural fiber composites to be a low-impact alternative to conventional synthetic composites. Incorporating natural fibers into concrete enhances properties such as tensile strength, flexural strength, and impact resistance. The automotive segment is expected to witness steady revenue growth, propelled by the lightweight and durable nature of fiber-reinforced composites. Stringent regulations on recycling and resource reuse in the automotive sector contribute to the growing use of natural fibers in vehicle composite materials.
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North America captured the largest revenue share in 2022, fueled by the rising demand for eco-friendly and sustainable materials. Initiatives by companies like Ralph Lauren Corporation, investing in sustainable material science, reflect the region's commitment to reducing reliance on synthetic materials.
Europe is poised for the fastest revenue growth, driven by increasing demand for natural fiber composites in the automobile industry. Partnerships like the one between Super Formula and Bcomp Ltd. for incorporating flax fiber composites into racing cars underscore the region's emphasis on lightweight and environmentally friendly solutions.
The Asia Pacific region is expected to account for a significant revenue share, led by Japan, China, and India's utilization of natural fiber composites in various industries, including automotive, electrical and electronics, and construction. The global natural fiber composites market continues to expand, driven by the imperative for sustainable solutions across diverse industries. The market's trajectory reflects a shift towards eco-friendly alternatives, with natural fiber composites at the forefront of this transformative journey.
Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 5.20 Billion |
| CAGR (2023–2032) | 12.5% |
| Revenue Forecast To 2032 | USD 16.85 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019-2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Resin type, fiber type, technology, matrix, application, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | TORAY INDUSTRIES, INC., Solvay, BASF SE, LANXESS, UFP Technologies, Inc., JNC Corporation, PPG Industries, Inc., Owens Corning, UPM, FlexForm Technologies, Polyvlies Franz Beyer GmbH, Amorim Cork Composites S.A., Green Dot Bioplastics, Trex Company, Inc., Fiberon, Weyerhaeuser Company, TEIJIN LIMITED, Tecnaro GmbH, Procotex, and DuPont. |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global natural fiber composites market is fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective natural fiber composites solutions in the market.
Some major players included in the global natural fiber composites market report are:
- TORAY INDUSTRIES, INC.
- Solvay
- BASF SE
- LANXESS
- UFP Technologies, Inc.
- JNC Corporation
- PPG Industries, Inc.
- Owens Corning
- UPM
- FlexForm Technologies
- Polyvlies Franz Beyer GmbH
- Amorim Cork Composites S.A.
- Green Dot Bioplastics
- Trex Company, Inc.
- Fiberon
- Weyerhaeuser Company
- TEIJIN LIMITED
- Tecnaro GmbH
- Procotex
- DuPont
Strategic Development
- On 22 July 2022, Carlsberg Group announced the launch of its new Fibre Bottle, delivering the first-ever beer bottle that is completely recyclable and bio-based to customers. The bottle also includes beer made with organic and regenerative barley, reflecting the company's ongoing commitment to sustainable methods and advancing technologies. Through targeted product samplings, festival selections, and flagship events, the bottles will be distributed to local customers, stakeholders, and consumers.
- On 17 March 2020, UPM announced that it created a new, top-notch biocomposite material called UPM Formi EcoAce, to meet the strictest sustainability standards. In addition to certified wood and cellulose fibers, the new biocomposite material also includes certified renewable Polypropylene (PP) polymers from SABIC's TRUCIRCLE solutions, which are manufactured with wood-based feedstock from the production of UPM Biofuels. The mass balancing principle of the International Sustainability and Carbon Certification (ISCC)-certified biocomposite is based nearly entirely on renewable resources.
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For the purpose of this report, Emergen Research has segmented the global natural fiber composites market on the basis of resin type, fiber type, technology, matrix, application and region:
- Resin Type Outlook (Revenue, USD Billion; 2019-2032)
- Polypropylene
- Polyethylene
- Polyamide
- Epoxy
- Polyester
- Vinyl Ester
- Others
- Fiber Type Outlook (Revenue, USD Billion; 2019-2032)
- Wood
- Cotton
- Flax
- Kenaf
- Hemp
- Others
- Technology Outlook (Revenue, USD Billion; 2019-2032)
- Injection Molding
- Compression Molding
- Pultrusion
- Others
- Matrix Outlook (Revenue, USD Billion; 2019-2032)
- Inorganic Compound
- Natural Polymer
- Synthetic Polymer
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Automotive
- Aerospace
- Electrical and Electronics
- Sporting Goods
- Construction
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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