Lucintel Forecasts Natural Fiber Composites Market to Reach $532.0 Billion by 2030

CITY, Country, 2024-Jun-10 — /EPR Network/ —

According to the recent study the natural fiber composites market is projected to reach an estimated $532.0 Billion by 2030 from $460.1 billion in 2023, at a CAGR of 2% from 2023 to 2030. 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).

Lucintel forecasts that automotive segment will remain the largest application by value and volume 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.

Flax natural fiber composites composites is expected to remain the largest segment 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.

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Europe is expected to remain the largest market for natural fiber composites composites because of growth in applications and it 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.

Procotex, FlexForm, FiberGran, GreenGran, and Tecnaro are the major suppliers in the natural fiber composites market.

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 write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056

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