Natural Fiber Composites Market Size Study with Top Countries Data, Industry Trends, Growth, Opportunities and Forecast to 2022-2031

The Natural Fiber Composites Market is projected to register a CAGR of 12.31% between 2022 and 2031 to reach $5,838.99 million by 2031. North America held the largest share in 2022 with the U.S. being the leading country. In the less explored markets of Asia-Pacific and Oceania, high growth is expected while the highly developed North American and European regions are predicted to show moderate to high growth. Growth in the North American region is expected to be from the increase in building & construction because of low interest rate on housing loan given by the government.

The World Integrated Trade Solution (WITS) of the World Bank recorded the United States to be the largest exporter of chemicals in the world, amounting for an export value of about USD 345.65 billion, followed by China with USD 158.75 billion worth of exports.

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Furthermore, there is an ever-increasing demand for chemicals that are more environment-friendly, backed with the imposition of stringent government regulations to control pollution on a global level. It is calculated that more than 3 million tons of toxic chemicals have been released by industries till date in the year 2022. On the other hand, estimations also show that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. This in turn, is projected to raise the in-flow of investments by market players for the development of new technologies to manufacture products with reduced toxicity.

The key players in the natural fiber composites markets are divided into two groups, natural fiber composites manufacturers/formulators and natural fiber composites suppliers. Flexform Technologies, Technaro GmbH, Procotex S.A. Corporation NV, Greengran B.V are the chief natural fiber composites manufacturers whereas Stemergy, Bast Fiber LLC, Crailar, and so on, are the key natural fiber composites suppliers in this market. These companies showed significant presence among other players in the fragmented natural fiber composites market.

Agreements & partnerships was the most preferred strategy among the key players in the natural fiber composites market, globally. The key players are enhancing their product portfolio and regional reach by entering into various agreements and participating in product showcases.

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Many companies, offering natural fiber composites, are actively trying to increase their product portfolio and regional presence to cater to different regional markets. They are primarily focused on entering the less explored markets in the developing regions.

These regions are further sub-segmented into the following:

  • North America (U.S. & Canada),
  • Latin America (Argentina, Mexico, Brazil, Rest of Latin America),
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe),
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), and the
  • Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

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