DUBLIN–(BUSINESS WIRE)–The “Natural Fiber Reinforcement Materials Market By End Use Industry, By Type: Global Opportunity Analysis and Industry Forecast, 2020-2030” report has been added to ResearchAndMarkets.com’s offering.
The global natural fiber reinforcement materials market was valued at $360.97 million in 2020, and is projected to reach $694.64 million by 2030, growing at a CAGR of 6.81% from 2021 to 2030.
Natural fiber reinforcement materials are widely popular for research owing to their wide range of applications in polymer composites, sustainability, and eco-friendly nature. It is produced from materials that are composed of polymer matrix embedded with high strength natural fibers, such as sisal, jute, flax, kenaf, and oil palm. There is a huge increase in demand for naturally-derived materials because of the rise in environmental concerns and unsustainable consumption of petroleum.
The rise in individual awareness about environment protection augments the growth of the natural fiber reinforcement materials. In addition to this, upsurge in demand from the automotive industry and the eco-friendly nature of natural fiber reinforcement material drive the market growth. The rise in applications of natural fiber in construction and packaging industries is expected to boost the growth of the natural fiber reinforcement materials market in near future.
The presence of superior advantages, such as low weight and low cost and good properties of natural fiber over synthetic fibers are expected to augment the growth of the natural fiber reinforcement materials market. Increase in adoption of sustainable and environment-friendly materials to manufacture products, due to increase in the awareness among the consumers regarding the advantages of green materials is another driving factor for the development of the market.
Implementation of strict government regulations is expected to increase the market demand for natural fiber reinforcement materials during the forecast period. The hydrophilic nature of natural fiber is expected to hinder the market growth, due to poor dimensional stability, processing ability, and porous nature.
COVID-19 Impact Analysis:
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The restrictions on international trade and lockdown regulations on the operations of the variety of industries, are projected to work at low limit due to decline in the demand for products in the market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the natural fiber reinforcement materials market analysis from 2020 to 2030 to identify the prevailing natural fiber reinforcement materials market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the natural fiber reinforcement materials market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global natural fiber reinforcement materials market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By End Use Industry
- Transportation
- Building and Construction
- Consumer Goods and Others
By Type
- Hemp
- Flax
- Kenaf
- Jute
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Spain
- Italy
- Rest of Europe
- U.K.
- Asia-Pacific
- China
- Japan
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Argentina
- South Africa
- Rest of LAMEA
Key Market Players
- Agrofiber SAS
- Bast Fiber LLC
- Greene Natural Fibers LLC
- Hempflax BV
- Hempline Inc.
- Kenaf Industries of South Texas
- Nfc Fibers GmbH
- Procotex Corporation
- Saneco S.A.
- Schweitzer-Mauduit International, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qusg46
