Lucintel Forecasts Natural Fiber Composites Market to Reach $831 Billion by 2027

Category: Business

According to the recent study the natural fiber composites market is projected to reach an estimated $831 billion by 2027 from $14 billion in 2021, at a CAGR of 8.3% from 2021 to 2027. Growth in this market is primarily driven by the rise in demand for lightweight and environmentally sustainable composite materials in various applications, such as automotive, building & construction, and others. Browse 90 figures / charts and 75 tables in this 160 -page report to understand trends, opportunities and forecast in natural fiber composites market by application (automotive, building and construction, and others), fiber (hemp, flax, kenaf, jute, and others), resin type (polypropylene, polyethylene, polylactic acid, and others), process (compression molding, injection molding, and others), and by region (North America, Europe, Rest of the World). Download sample report by clicking on below link https://www.lucintel.com/natural-fiber-composite-market.aspx “Automotive market is expected to remain the largest segment during the forecast period.” Based on application, the natural fiber composites market is segmented into automotive, building and construction, and others. Lucintel forecasts that the automotive market is expected to remain the largest segment due to increasing concern for passenger safety, government mandates for better fuel economy, and end-of-life vehicles directive. Automotive is expected to witness highest growth over the forecast period. “Within the natural fiber composites market, the flax natural fiber composites segment is expected to remain the largest fiber” Based on fiber the flax natural fiber composites segment is expected to witness the highest growth over the forecast period due to its environmentally friendly alternative of synthetic fibers in fiber reinforced polymer composites. Hemp natural fiber composites composites segment is expected to witness the highest growth in the forecast period. “Europe will dominate the natural fiber composites market in near future” Europe is expected to remain the largest market for natural fiber composites composites because of growth in applications. North America expected to witness the highest growth over the forecast period because of due to higher acceptance level of environmentally sustainable composite materials by automotive OEMs, government directives. Download Brochure of this report by clicking on https://www.lucintel.com/natural-fiber-composite-market.aspx Major players of natural fiber composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Procotex, FlexForm, FiberGran, GreenGran, and Tecnaro are among the major natural fiber composites providers. This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/natural-fiber-composite-market.aspx or helpdesk@lucintel.com