Global Natural Fiber Composites Market Size, Share, Growth Analysis, By Type(Flax Fiber Composites, Hemp Fiber Composites), By Application(Automotive, Building & Construction) - Industry Forecast 2023-2030

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Global Natural Fiber Composites Market size was valued at USD 7.02 billion in 2021 and is poised to grow from USD 8.11 billion in 2022 to USD 25.59 billion by 2030, growing at a CAGR of 15.45% in the forecast period (2023-2030).

The global natural fiber composites market is witnessing a competitive landscape with several key players vying for market share. The market is characterised by the presence of both established companies and emerging players, each striving to develop innovative natural fiber composites and expand their product portfolios. These companies are actively investing in research and development to enhance the mechanical, thermal, and structural properties of natural fiber composites. They are also focusing on improving the manufacturing processes and exploring new fiber sources to widen the range of applications. 'FlexForm Technologies (US)', 'UPM Biocomposites (Finland)', 'Greencore Composites Inc. (Canada)', 'Technaro GmbH (Germany)', 'Fiberon LLC (US)', 'Trex Company, Inc. (US)', 'GreenGran BV (Netherlands)'

Natural fiber composites possess an advantageous strength-to-weight ratio, making them ideal for lightweight applications. Industries such as automotive and aerospace prioritise materials that can reduce weight while maintaining strength and performance. Natural fiber composites fulfil these requirements, contributing to enhanced fuel efficiency and overall performance.

The key market trend of the global natural fiber composites market is the increasing demand for sustainable and lightweight materials. Natural fiber composites are made from renewable resources, which makes them a more sustainable alternative to traditional synthetic fiber composites. They are also lightweight, which makes them a good option for applications where weight is a critical factor, such as the automotive and aerospace industries.

In the global natural fiber composites market, the most dominant region is North America. North America has a well-established manufacturing base, advanced research and development capabilities, and a strong focus on sustainability. The region's dominant position can be attributed to the presence of key market players, technological advancements, and increasing demand for eco-friendly and lightweight materials in various industries.

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- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Global Natural Fiber Composites Market Size, Share, Growth Analysis, By Type(Flax Fiber Composites, Hemp Fiber Composites), By Application(Automotive, Building & Construction) - Industry Forecast 2023-2030

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