Natural fiber composites—a subject of intensive technical research—are becoming more prevalent in use because of increasing environmental awareness and the materials’ relatively low cost and low density. The demand for component materials that are durable, reliable, lightweight, and with excellent mechanical properties is fueling the growing demand for natural fiber in various industries such as automotive and building and construction.
The natural fiber composite materials market is expected to grow to US $531.3 million in 2016 with an 11% CAGR over the next five years.In its new market study, Lucintel analyzes and presents its findings in its report “Natural Fiber Composites Market Trend and Forecast 2011–2016: Trend, Forecast and Opportunity Analysis.” Lucintel’s research indicates that the application of natural fiber composites has increased and is gaining preference over glass fiber. Increasing use of natural fiber composites in automotive applications is driving the market. Indeed, automotive is expected to remain the largest market through 2016. Several automotive components are now produced using natural composites, which are generally based on polyester or polypropylene resin and fibers such as flax, hemp, kenaf, or sisal.
The automotive industry’s adoption of natural fiber composites is led by price, weight reduction, and marketing incentives rather than technical demands. The range of products is no longer restricted to interior and non-structural components such as door panels or rear shelves. In terms of value shipment, Europe is expected to continue its dominance with more than 50% of the worldwide market. North America is expected to be the second-largest region and ROW third in terms of value shipment by 2016. Lucintel’s report provides detailed trend and forecast data for the natural fiber composites market; specifically, forecasts for material and end product applications from 2011‒2016. The report analyzes the drivers leading the demand in the natural fiber composites market, recent developments, Porter’s Five Forces model for the market, growth opportunities in natural fiber composites in applications, and more.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. Lucintel provides cutting-edge decision support services that help facilitate critical decisions with greater speed, insight, and cost efficiency. To find out more, please visit www.lucintel.com
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