Transparency Market Research in its new report titled, “Natural Fiber-reinforced Plastics Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the natural fiber-reinforced plastics market. The TMR report states that the rise in the demand from automotive manufacturers will propel the natural fiber-reinforced plastics market during the forecast period i.e, 2018-2026.
According to the report, demand for Natural Fiber-reinforced Plastics is high in the engineering sector. Numerous types of natural fiber-reinforced polymer composites have received wide acceptance in the automotive sector by automotive manufacturers such as BMW, Audi Group, Ford, and Mercedes. Wood fibers are used to enclose the rear side of the seat backrest. High demand for cotton fibers that can be used as soundproofing materials propels the natural fiber-reinforced plastics market, the report adds. Apart from the automobile industry, demand for natural fiber-reinforced plastics is high in sectors such as building & construction, sports, and aerospace. Increase in the demand for products with biodegradability, availability, cost-effectiveness, and low density is propelling the demand for natural fiber-reinforced plastics.
Based on type of plastic used as matrix, the report has segregated the global natural fiber-reinforced plastics market into thermoplastics and thermosets. Most widely used thermoset polymers in natural fiber-reinforced composites are polyester, epoxies, and vinyl ester. Polypropylene composites have attracted greater attention over the last few years, due to their added advantage of recyclability. Other thermoplastics such as polyethylene and polystyrene have also been used. In terms of type of fiber, the natural fiber-reinforced plastics market is split into flax, cotton, jute, sisal, ramie, coir, and banana. Based on end-use, the market is classified into automotive, building & construction, aerospace, and sports & leisure.
As per the report, the global natural fiber-reinforced plastics market witnessed robust growth in 2017 and the trend is estimated to continue during the forecast period. From a regional perspective, North America is a major region for natural fiber-reinforced plastics market, due to presence of highly attractive aerospace and defense industries in the region. Germany, the U.K., and France are some of the prominent importers of natural fiber-reinforced plastics in the Europe region, due to presence of a highly attractive automotive industry in these countries. Rise in population, increase in urbanization, and changes in lifestyle are projected to fuel the natural fiber-reinforced plastics market in the Asia Pacific region during the forecast period. Natural fiber-reinforced plastics will witness high demand from countries such as China, India, and Japan. The natural fiber-reinforced plastics market in Latin America and Africa is expected to expand at a significant pace during the forecast period, owing to overall technological advancements in the region, says the TMR analyst.
Some of the major players operating in the global natural fiber-reinforced plastics market are profiled in this report to give a better competitive analysis and these include AMORIM, Tecnaro, Advanced Compounding, and UPM etc.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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