Natural fiber composites market worth $5.83 billion by 2019 according to new research report
25 January 2016
The market size for natural fiber composites is projected to reach $5.83 billion by 2019, at a CAGR of 12.31% between 2014 and 2019. North America dominated the natural fiber composites market in 2013. It is projected to remain the major market by 2019, at a CAGR of 11.16% between 2014 and 2019.
The report “Natural Fiber Composites Market by Applications (Automotive, Building and Construction, Electrical and Electronics & Others) by Manufacturing Processes (Compression Molding, Injection Molding & Others) and by Region (North America, Europe, Asia-Pacific and Rest of the World) - Global Trends & Forecasts to 2019”, defines and segments the natural fiber composites market with an analysis and forecast of applications and manufacturing processes of natural fiber composites.
Natural fiber composites are manufactured mainly using two different processes that are compression molding and injection molding. Along with this, the applications of natural fiber composites market are mainly in the automotive, building & construction and electrical & electronics industry; region-wise analysis is also discussed.
It also identifies the driving and restraining factors for the natural fiber composites market with an analysis of trends and opportunities. The market is segmented and the value has been forecast on the basis of key regions, such as North America, Europe, Asia-Pacific and Oceania, and RoW.
Asia-Pacific and Oceania is the fastest growing regions for natural fiber composites market
The natural fiber composites market is segmented into four key applications markets: automotive, building & construction, electrical & electronics, and others. Building & construction is the largest application market for natural fiber composites accounting for majority of the share.
Compression molding is the manufacturing process used majorly for natural fiber composites and accounted for 80.45% of the market share in 2013
Compression molding held the major share in the natural fiber composites market in 2013 and the trend is projected to continue by 2019.
Injection molding held the second biggest market for the natural fiber composites in 2013.
The market for injection molding is projected to grow at a high rate of 12.58% between 2014 and 2019 owing to the constantly increasing application areas for the natural fiber composites.