Natural Fiber Composites Market by Type, End-user, and Geography — Forecast and Analysis 2020–2024

The natural fiber composites market size has the potential to grow by USD 1.49 bn during 2020–2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by type (wood fiber and non-wood fiber), end-user (building and construction, automotive, electrical and electronics, and others), and geography (North America, APAC, Europe, South America, and MEA). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including The AZEK Co. LLC, DuPont de Nemours Inc., FlexForm Technologies, JELU-WERK J. Ehrler GmbH & Co. KG, PolyOne Corp., Polyvlies Franz Beyer GmbH, TECNARO GmbH, Trex Co. Inc., UPM-Kymmene Corp., and Weyerhaeuser Company.

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Synthetic fiber composites are made from non-renewable resources and require advanced processing technologies. However, the demand for synthetic fiber composites is declining due to the negative impact of these composites on the environment and the rising price of non-renewable resources. This is encouraging various industries to use natural fiber composites. NFCs are cost-effective. Also, they are made from renewable resources such as plants and animals. The rising potential of natural fiber composites to replace synthetic fiber-reinforced composites will be one of the major factors that will have a positive impact on market growth. Natural fiber composites are used for several industrial and engineering applications. The demand for NFCs is continually increasing due to economic development, especially in rural areas. As a result, the natural fiber composites market will register a CAGR of more than 5% by 2024.