The major driver for the growth of the the natural fiber composite (NFC) market is the rise in demand for lightweight and environmentally sustainable composite materials in various applications, such as automotive, construction, and others.
According to a new market report published by Lucintel, the future of the natural fiber composite (NFC) market looks attractive with opportunities in the automotive, and building & construction industries. The global natural fiber composite market is forecast to grow at a CAGR of 8.2% from 2015 to 2020.
Browse 41 Market Data Tables and 118 Figures spread through 170 Pages and in-depth TOC on www.lucintel.com/natural-fiber-com…market-2020.aspx
In this market, natural fiber (hemp, flax, jute, kenaf, and others) and resin (polypropylene, polyethylene, polylactic acid, and others) are the major raw materials used for producing natural fiber composites.
Lucintel predicts that the demand for NFC is likely to experience a good growth during the forecast period supported by growing demand in end-user industries. On the basis of comprehensive research, Lucintel forecasts that the automotive segment is expected to show above average growth during the forecast period.
Within the natural fiber composites market, the automotive segment is expected to remain the largest application by both value and volume. Increasing concern for passenger safety, government mandates for better fuel economy, and end-of-life vehicles directive are the major driving forces that spur growth for this segment over the forecast period.
Europe is expected to remain the largest market during the forecast period due to higher acceptance level of environmentally sustainable composite materials by automotive OEMs, government directives, and growth in end use industries.
ROW (including Asia Pacific) is expected to witness the highest growth over the forecast period due increasing penetration of NFC in different applications and growth of end use industries.
For market expansion, report suggests innovation and new product development to achieve higher strength, vibration dampening, and fire retardant properties, where the unique characteristics of NFC can be capitalized.
Emerging trends in the global NFC market, which have a direct impact on the dynamics of the industry, include emergence of new application areas and increasing government focus towards the use of bio-composites. FlexForm Technologies, Procotex Corporation SA, GreenGran BV and FiberGran GmbH & Co.
KG are among the major suppliers of NFC.
Access report @ www.lucintel.com/natural-fiber-com…market-2020.aspx
The study includes a forecast of the global natural fiber composite market through 2020, segmented by end user industry, fiber type, resin type, process, and region as follows:
By end-use application [Volume (M lbs) and $M shipment analysis for 2009 – 2020]:
- Building and Construction
By Fiber type [volume (M lbs) and value $M from 2009 - 2020]:
By Resin type [volume (M lbs) and value $M from 2009 - 2020]:
- Epoxy and others
By process [volume (M lbs) and value $M from 2009 - 2020]:
- Compression Molding
- Injection Molding
By Region [volume (M lbs) and value $M from 2009 - 2020]-
- North America
- ROW (including Asia Pacific)
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This 171-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056
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