Rising demand for natural fiber composites especially in Asia-Pacific and Oceania


Posted April 10, 2019 by abhijeetw1

The NFCs market was worth USD 3.36 Billion, in 2015, and is projected to reach USD 6.50 Billion in 2021 expected to register a CAGR of 11.68%, between 2016 and 2021.

 
Natural fiber composites are mainly used in the building & construction and automotive industries. Natural fiber composites are manufactured mainly using two processes: compression molding and injection molding.

The natural fiber composites market is a highly fragmented market with a presence of large number of producers. There are many players with strong local presence in their respective regions. The key players in this market are opting for agreements & partnerships, and product showcasing to enhance their market reach into new applications and more eco-friendly products. The major companies in the market are UPM Biocomposites, Meshlin Composites Zrt, Jelu-wrek, Greencore Composites, among others.
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The building & construction application dominated the natural fiber composites market in 2013. North America was the largest market for building & construction and accounted for 51.81% of the overall natural fiber composites market share by value in 2013. Automotive applications are expected to show the highest growth owing to increasing consumption of natural fiber composites, primarily in North America and Europe.

Manufacturing process: Compression molding comprises a major share in the NFCs market

Compression molding is the most widely used manufacturing process of NFCs. Automotive and construction industries are the key users of compression molded NFCs due to their benefits, such as cost effectiveness, high reproducibility, low cycle time, homogenous distribution of long fibers in fleece, lesser wastage of raw material and lower tooling costs. Heavy and intricate complex parts with good surface finish can be made with the help of compression molding, which make it suitable in the construction industry. In the automotive industry, it is used to produce interior parts of automobiles with higher strength and stiffness.

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Construction & Automotive industry is at the forefront and driving the NFCs market

The demand for NFCs in the construction industry for outdoor deck floors, railings, fences, landscaping timbers, park benches, window and door frames, and indoor furniture has grown remarkably on the global platform. This is due to their superior strength-to weight ratio, recyclability, and low cost. Further, NFCs are becoming popular and essential for making automotive components such as seatbacks, parcel shelves, boot linens, front and rear door linens, truck linens, and door-trim panels due to their lightweight and increased fuel efficiency.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: [email protected]
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Issued By MARKETSANDMARKETS
Country United States
Categories Business , Industry , Manufacturing
Tags natural fiber composites , natural fiber composites market
Last Updated April 10, 2019