Showing posts with label Natural Fiber Reinforced Composites Industry. Show all posts
Showing posts with label Natural Fiber Reinforced Composites Industry. Show all posts

Monday, October 3, 2022

Competitors in Natural Fiber Reinforced Composites Market

 Regional Players Dominate the Market Constituting ~45% of Number of Participants However Few Global Players Hold Largest Market Share finds a recent market study on Global Natural Fiber Reinforced Composites Market

Natural fiber composites (NFCs) are a type of composite material in which at least the reinforcing fibers are generated from renewable and carbon dioxide-neutral fiber types like plants or wood. The product is being increasingly adopted by industries like Aerospace, Automotive, Building & Construction, Electrical & Electronics, Furniture, and other industries.

Ken Research shares 3 key insights on this high opportunity market from its latest research study.



Regional Players Constitute 45% of the Market Participants Followed by Country Niche Players Which Constitute 35% of Competitors, But Few Global Players Hold Largest Market Revenue Share

A comprehensive competitive analysis conducted during the Research Study found that the global natural fiber reinforced composites market is highly competitive with ~150 players which include globally diversified players, regional players, as well as a large number of country-niche players having their own niche in natural fiber, reinforced composites tech advancement for multiple industries.

Composite materials have drawn a lot of interest because of their adaptable qualities, which enable numerous applications in a vast array of sectors. The rigidity and strength of the composite materials relative to their normally low weight are their main advantages over conventional bulk materials. Numerous industries, including aerospace, automotive, building and construction, sports, electrical and electronics, and other ones, are increasingly adopting these materials.

The regional players comprise about 45% in terms of the number of companies followed by country niche players which account for ~35% of the market share.

According to the research, large global players held the dominant position in the market with ~45% of market share in 2021 and is followed by regional players which held ~35% in 2021.

The Share of Revenues From Natural Fiber Reinforced Composites Forms a Major Chunk of the Overall Companies’ Revenues for Specialist Players

With numerous global corporations and small producers conducting their companies through a variety of products and a vast distribution network, the market is considerably competitive by nature. From product manufacturing to final product distribution to multiple places, the enterprises in the sector have a high degree of integration.

The players which specialises in the field earn high percentage of revenue from natural fiber reinforced composites products. Key players have a significant presence in various end-user industries like aerospace, automotive, building and construction, electrical and electronics, sports, and various others. Not just key players but also the emerging players are expanding in different industries with natural fiber reinforced composites products and are also investing in marketing strategies like collaborations and technological development to compete in the industry.

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Post-Covid Pandemic, the Trend of Launching Products with Wider Sustainability is Being Adopted

Lockdowns and increased limitations throughout the world in 2020 and 2021 disrupted the supply chain, making it challenging for manufacturers to compete in the market for natural fiber-reinforced composites. The market for natural fiber reinforced composites is quickly regaining its pre-COVID levels, and over the forecast period, a strong growth rate is predicted, driven by the economic recovery in the majority of emerging as well as industrialized countries as well as increasing environmental concerns

The Indian Jute Mills Association's chairman said, "Around 0.2 million tonnes of jute product manufacturing with an estimated value of USD 156 million had been lost as a result of COVID in India. Only 5 to 10 percent of the employees at some mills that were able to restart were employed there". The gradually changing circumstances and increased product demand is reshaping the market in a positive manner.

Increased Adoption of Natural fiber Reinforced Composites in Various Parts of the World leading to Major Industry-Wide Developments, Acquisitions, and Deal-Wins

  • On September 22, The Aura concept car, which was funded by the Office for Zero Emission Vehicles (OZEV) through the Niche Vehicle Network (NVN), was handcrafted with the goal of developing a low-emission, long-range electric vehicle (EV) with sustainability at its core. The car's bodywork has been reinforced using natural fiber composites to save weight and improve manufacturing sustainability.
  • On May 10, it was revealed that Formula Seven and Bercella s.l.r. had teamed together to create an innovative seat for Formula SAE single-seaters utilizing only 100% natural fiber composite materials, such flax fiber. Bercella s.l.r. produces huge and sophisticated composite constructions. Flax fibers are a sustainable material that are also corrosion, impact, and UV resistant, according to Bercella. Additionally, the material isolates from electricity and heat while absorbing vibrations, making it perfect for uses like the seating for Formula SAE race vehicles.
  • April, 2022, in order to produce non-crimp fabrics (NCFs) with flax fibers for the marine and sports and leisure markets, Saertex and Terre de Lin have started working collaboratively. The two businesses' collaboration intends to bring together Terre de Lin, key provider of sustainable flax fibers, and Saertex's knowledge of reinforcement materials.
  • In October 2021, Lanxess introduced a brand-new, totally biodegradable material based on flax and polylactic acid, to its Tepex line of continuous-fiber-reinforced thermoplastic composites. The substance blends polylactic acid made from biomaterials with natural flax fibers.
  • In October 2021, Green Dot Bioplastics Inc. and Mayco International have collaborated to produce a sustainable solution for waste generated during the manufacturing of automobile components by recovering trim and scrap fibers for Natural Fiber Reinforced Plastic (NFRP).

For more information on the research report, refer to below link:

Major Companies in Natural Fiber Reinforced Composites Market

Read Also –

5 Key Insights on US$12 Bn Opportunity in Global Natural Fiber Reinforced Composites Market

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5 Key Insights on US$12 Bn Opportunity in Global Natural Fiber Reinforced Composites Market

 Driven by Rising Environmental Concerns and the Consequent Rise in Demand for Bio-Based Composite Materials, the Global Natural Fiber Reinforced Composites Market is forecasted to cross US$12 Bn by 2030 says Ken Research Study.

Natural fiber composites (NFCs) are a type of composite material in which the reinforcing fibers are generated from renewable and carbon dioxide-neutral materials like plants or wood. Owing to their greener nature and contribution to sustainable practice, natural fibers have garnered significant interest from industry players and researchers for the utilization of polymer composites. To better balance environmental concerns with social and economic issues, some sectors have transitioned toward sustainable technology which is, in turn, fueling the natural fiber reinforced composites market.

According to Research estimates, the Global Natural Fiber Reinforced Composites Market – which was valued from around US$ 5 Bn in 2019 to nearly US$ 6 Bn in 2021 – is expected to grow further to more than US$ 12 Bn opportunity by 2030.

Ken Research shares 5 key insights on this high opportunity market from its latest research study.



1.   Better Properties of Reinforced Natural Fiber Composites as Compared to Synthetic Fiber Composites to Boost their Demand and Market Revenue Growth

Compared to synthetic fiber composites, natural reinforced fibers are affordable, require minimal effort to create, and emit lesser harmful fumes. Additionally, its high specific strength, stiffness, and less dense makeup help reduce weight in a range of end-user applications. For instance, in the building sector, natural reinforced fiber composites are added to concrete to enhance its mechanical properties, such as flexural strength, impact resistance, and fracture toughness. The market for natural reinforced fiber composites is expanding due to their numerous advantages over synthetic fibers.

NFC's potential to replace synthetic fiber composites and rising consumer desire for eco-friendly packaging options are expected to contribute to the market's growth over the projected period.

2.   Increased Adoption of Natural Fiber Reinforced Composites in the Automotive Industry to Boost the Market Growth

Fiber-reinforced composites have a higher tensile strength, moldability, and less weight than aluminum-made car parts, making them lighter, safer, and fuel-efficient. Fiber-reinforced composites are employed in the creation of structural elements for automobiles. The extent of the global electric era is another factor boosting the demand for natural fiber-reinforced composites in the automotive industry. Utilizing composite materials is expected to aid in enhancing the mechanical and electrical characteristics of drive systems.

The average amount of plastic used in a car today—120 kg globally and 105 kg in developed countries—represents around 50% of the interior components and contributes to 10% to 12% of the overall vehicle weight.

Leading the way in the utilization of natural fiber composites is Germany. Natural fiber composites for interior and exterior uses have been introduced by the German automakers Mercedes, BMW, Audi, and Volkswagen. Germany accounts for two-thirds of all bio-fiber consumption in the European automobile sector.

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3.   Sustainability Concerns to Propel the Market Growth

The issue of resource depletion is a significant concern for humanity in the current context of a rapidly expanding global population. The development of alternative materials has become increasingly important in recent years as a result of the environmental degradation caused by particular material extraction methods. This prompted the creation of composite materials, particularly those made of natural fibers. In terms of durability and sustainability, natural fibers have an edge over their synthetic equivalents.

Increasing demand for bio-based composite materials due to growing environmental concerns is a prime factor driving the growth of the natural fiber reinforced composites market. These fiber composites are derived from the bast or outer stem of various plants. The use of these composites can reduce the carbon footprint by 50% compared to oil-based products. Additionally, these natural fibers are recyclable (up to 100%).

Stringent regulations governing non-biodegradable composites have created new business opportunities in regions like Europe and North America. Throughout the projection period, the market showcases fresh development prospects for expansion, with rising demand for sustainable natural fiber composites in developing countries for the construction and automotive industries. As a result, it is anticipated that throughout the forecast period, demand for this market will increase.

4.   Price Fluctuations in the Natural Fiber Reinforced Composites to Slow Down the Expansion Rate of the Market

Price variations of natural fibers have been specifically impacted by the growing market share of man-made fibers. In some cases, when man-made fibers make deeper inroads into the fiber market, the range of price swings for natural fibers increases. This claim is supported by changes in the supply curve of fibers that take place when the manufacture of synthetic fibers increases. Natural fibers like wool have been experiencing a fluctuation in terms of price due to the expansion of man-made fibers which is in turn negatively impacting the growth trend of the global natural fiber reinforced composites market.

5.   North America Holds the Largest Market Share in the Global Natural Fiber Reinforced Composites Market

North America has a wide market for building and construction. The recent trend of increasing adoption of natural fiber reinforced composites in building and construction has augmented the adoption of the product. While wood fiber has seen tremendous expansion in the North American region, European players use flax, hemp, and kenaf extensively.

Various organizations including private and public are conducting research on expanding the availability of wood fiber which is another reason for the growth of the market in North America. For example, a nationwide assessment of the availability and demand for wood fiber resources in the US is being prepared by the USDA Forest Service.

For more information on the research report, refer to below link:

Competitors in Natural Fiber Composites Sector

Related Report –

Global Network as a Service Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Type (WAN, LAN, Bandwidth on Demand, and Data Connectivity Center), By Application 

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Ken Research 

Ankur Gupta, Head Marketing & Communications 

support@kenresearch.com 

+91-9015378249