Stemergy: Renewable Fibre Technology

Lucintel projects strong growth in the natural fibre composites sector through to 2019

1 August 2014

The natural fiber composites market is expected to grow at a CAGR of 11.2% during 2014-2019. The major drivers of natural fiber composites market are increasing penetration of natural fiber composites materials in automotive industry to take advantage of light weight, recyclability, sound insulation, and encouragement from various governments to market bio-composites product to protect human health and environment. Increasing demand from building and construction, and electrical/electronic industries are also driving the natural fiber composites market.

Lucintel forecasts that natural fiber composites market is expected to depict a high growth during 2014-2019. Automotive market will remain the largest segment in terms of both value and volume during the forecast period. Rising penetration of natural fiber composites in automotive interiors to reduce the overall weight of the vehicle in order to achieve better fuel efficiency is the major driving force of the industry.

Source: Lucintel

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About Stemergy

Stemergy bio-fiber is focused on producing and supplying renewable bio-fibres - derived from annual stem fiber plants such as flax and hemp - to the expanding global bio-fiber marketplace.