Natural Fiber Reinforced Composites Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Natural Fiber Reinforced Composites Market is Segmented by Fiber Type (Wood Fiber Composites and Non-wood Fiber Composites), Polymer (Thermosets and Thermoplastics), End-user Industry (Aerospace, Automotive, Building and Construction, Electrical and Electronics, Sports, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). The report offers market size and forecasts for Natural Fiber Reinforced Composites Market in volume (in kilo tons) for all the above segments.

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Natural Fiber Reinforced Composites Market Size

Natural Fiber Reinforced Composites Market Summary
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Study Period: 2022-2027
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 9.26 %

Major Players

Natural Fiber Reinforced Composites Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Natural Fiber Reinforced Composites Market Analysis

The Global Natural Fiber Reinforced Composites Market size is expected to grow from 4,013.93 kilotons in 2023 to 6,249.94 kilotons by 2028, at a CAGR of 9.26% during the forecast period (2023-2028).

Unfavorable conditions arising due to the COVID-19 outbreak hindered the market's growth in 2020, but it has recovered and is constantly growing.

  • The increasing demand for bio-based composites and the growing demand for new eco-friendly composites in the electronics industry is driving the natural fiber reinforced composites market.
  • However, the moisture adsorption, restricted processing temperature, incompatibility with most polymer matrices , and the lower impact resistivity compared to glass fiber reinforced composites are going to slow down the market.
  • Flame retardancy of natural fiber reinforced polymer composites is expected to provide new opportunities for the market.

Natural Fiber Reinforced Composites Industry Segmentation

Natural fiber reinforced composites are composite materials in which at least one fiber is derived from renewable and carbon dioxide-neutral resources such as wood and plants. The market is segmented by fiber type into wood fiber composites and non-wood fiber composites. The market is further segmented by polymers into thermosets and thermoplastics. By end-user industry, the market is segmented into aerospace, automotive, building and construction, electrical and electronics, sports, and other end-user industries. The report also covers the market size and forecasts for the wood-based panel market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (in kilo tons).

Fiber
Wood Fiber Composites
Non-wood Fiber Composites
Polymer
Thermosets
Thermoplastics
Polyethylene
Polypropylene
Poly Vinyl Chloride
Other Thermoplastics
End-user Industry
Aerospace
Automotive
Building and Construction
Electrical and Electronics
Sports
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Natural Fiber Reinforced Composites Market Trends

This section covers the major market trends shaping the Natural Fiber Reinforced Composites Market according to our research experts:

Increasing Demand from the Construction Sector

  • There is always a continuous requirement for eco-friendly materials in the building materials industry. Natural fiber-reinforced polymer-based composites are increasingly being used in civil engineering construction applications due to their numerous advantages.
  • Wood-fiber-reinforced composites can be used for decking, fencing, molding, trimming, etc. Owing to their low maintenance costs and resistance to weathering, stains, and warping, wood fiber-reinforced composites are the preferred alternatives to wood in these applications. ​
  • Non-wood natural fibers can be used as a substitute for many wood-fiber composites, such as bathtubs and shower walls, fiber-reinforced (polymer) panels (FRP), privacy dividers, and translucent accent panels.
  • Composite materials are becoming increasingly essential in the construction sector to achieve long-term sustainability.
  • Global construction is estimated to grow by about 85% to USD 15.5 trillion by 2030. China, the United States, and India are leading the way and accounting for over 57% of global growth.
  • Hence, all the abovementioned trends are projected to boost the growth of natural fiber-reinforced composites in the construction sector over the forecast period. ​
Natural Fiber Reinforced Composites Market, CAGR (), by End-user Industry, Global, 2022-2027

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the global market. With growing construction activities in countries such as China, India, and Japan, the usage of natural fiber-reinforced composites is increasing in the region.
  • The building and construction industry in ASEAN countries and India represents one of the fastest-growing markets, and it is anticipated to account for the major share of the global construction market. Countries such as China, India, South Korea, and other Asian countries in the Asia-Pacific region have been witnessing robust growth in construction activities.
  • The construction sector has supported the economic growth in the country whenever major slowdowns have occurred. However, during the pandemic period in 2020, the sector witnessed growth restrictions due to a low workforce and raw material supply challenges. Nevertheless, the construction industry managed to maintain a strong pace in construction activities. This strong growth can be attributed to two policy changes. First, is the continued push from China’s central government fiscal stimulus in the form of infrastructure investments which grew by 2.6% in 2020. Second, local governments also gradually relaxed real estate regulations, purchase criteria, and credit availability, resulting in a boost to the domestic real estate market.
  • As per the forecast given by the Ministry of Housing and Urban-Rural Development, China’s construction sector is expected to maintain a 6% share in the country’s GDP going into 2025. Keeping in view the given forecasts, the Chinese government unveiled a five-year plan in January 2022 focused on making the construction sector more sustainable and quality-driven.
  • On the other hand, the availability of affordable housing in the country is expected to rise by around 70% by 2024. By 2022, India is expected to contribute about USD 640 billion to the construction sector due to government initiatives in infrastructure development and affordable housing such as Housing for All, Smart City plans, etc. The growing demand for housing is likely to drive residential construction in the country, both in the public and private sectors, which is, in turn, driving the market for natural fiber reinforced composites.
  • Moreover, this market in India is also getting aided by affordable housing which is fast-gaining center stage with the government recognizing it as a mainstream agenda. The Indian government in its Union Budget 2022-23 allocated INR 48,000 Crores (~USD 5.79 billion) for its ‘PM AawasYojana’ scheme, thereby reiterating its commitment to implementing ‘Housing for All’ which aims to build 20 million affordable homes for the urban poor by 2022.
  • Hence, the new policies and investments made by different governments will boost the natural fiber-reinforced composites market demand in the rest of Asia-Pacific during the forecast period.
Natural Fiber Reinforced Composites Market, Growth Rate by Region, 2022-2027

Natural Fiber Reinforced Composites Industry Overview

The global natural fiber reinforced composites market is fragmented in nature, with no player capturing a significant share of the market. The major players in the market include Trex Company Inc., Fiberon Technologies Inc., UPM, The AZEK Company, and Oldcastle APG, among others.

Natural Fiber Reinforced Composites Market Leaders

  1. Trex Company, Inc.

  2. FlexForm Technologies

  3. UPM

  4. Fiberon Technologies, Inc.

  5. The AZEK Company LLC

*Disclaimer: Major Players sorted in no particular order

Natural Fiber Reinforced Composites Market - Market Concentration.png

Natural Fiber Reinforced Composites Market News

  • October 2021: The AZEK Company Inc., through its TimberTech Composite Decking, partnered with Yardzen, a premier online landscape design platform, to simplify the process for homeowners looking to design a custom outdoor oasis. ​
  • October 2021: Green Dot Bioplastics Inc. and Mayco International partnered to reclaim trim and scrap fibers for Natural Fiber Reinforced Plastic (NFRP) to produce a sustainable solution for waste produced during the manufacturing of automotive components.

Natural Fiber Reinforced Composites Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Bio-based Composites

      2. 4.1.2 Growing Demand for New Eco-friendly Composites in the Electronics Industry

    2. 4.2 Restraints

      1. 4.2.1 Moisture Adsorption, Restricted Processing Temperature, and Incompatibility with Most Polymer Matrices

      2. 4.2.2 Lower Impact Resistivity Compared to Glass Fiber Reinforced Composites

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size by Volume)

    1. 5.1 Fiber

      1. 5.1.1 Wood Fiber Composites

      2. 5.1.2 Non-wood Fiber Composites

    2. 5.2 Polymer

      1. 5.2.1 Thermosets

      2. 5.2.2 Thermoplastics

        1. 5.2.2.1 Polyethylene

        2. 5.2.2.2 Polypropylene

        3. 5.2.2.3 Poly Vinyl Chloride

        4. 5.2.2.4 Other Thermoplastics

    3. 5.3 End-user Industry

      1. 5.3.1 Aerospace

      2. 5.3.2 Automotive

      3. 5.3.3 Building and Construction

      4. 5.3.4 Electrical and Electronics

      5. 5.3.5 Sports

      6. 5.3.6 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Amorim Cork Composites SA

      2. 6.4.2 Fiberon Technologies Inc.

      3. 6.4.3 FlexForm Technologies

      4. 6.4.4 Green Dot Bioplastics Inc.

      5. 6.4.5 GreenGran BN

      6. 6.4.6 Jelu-Werk Josef Ehrler GmbH & Co. Kg

      7. 6.4.7 Meshlin Composites ZRT

      8. 6.4.8 NPSP NV

      9. 6.4.9 Oldcastle APG

      10. 6.4.10 Polyvlies Franz Beyer GmbH & Co. Kg

      11. 6.4.11 Tecnaro GmbH

      12. 6.4.12 The AZEK Company

      13. 6.4.13 Trex Company Inc.

      14. 6.4.14 TTS

      15. 6.4.15 UPM

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Flame Retardancy of Natural Fiber Reinforced Polymer Composites

**Subject to Availability
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Natural Fiber Reinforced Composites Market Research FAQs

The Natural Fiber Reinforced Composites Market is studied from 2022-2027.

The Natural Fiber Reinforced Composites Market is growing at a CAGR of 9.26% over the next 5 years.

The Natural Fiber Reinforced Composites Market is expected to reach 4013.93 kilotons in 2023 and grow at a CAGR of 9.26% to reach 6249.94 kilotons by 2028.

Asia-Pacific is growing at the highest CAGR over 2022-2027.

North America holds highest share in 2021.

Trex Company, Inc., FlexForm Technologies, UPM, Fiberon Technologies, Inc., The AZEK Company LLC are the major companies operating in Natural Fiber Reinforced Composites Market.

Natural Fiber Reinforced Composites Industry Report

Statistics for the 2023 Natural Fiber Reinforced Composites market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Natural Fiber Reinforced Composites analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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