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Natural Fiber Reinforced Plastic Market is gaining popularity due to its application in polymer composites, due to their environment friendly nature and sustainability. There is a growing demand for natural fiber-reinforced plastic from engineering sector. Various types of natural fiber reinforced plastics is widely used by automobile manufacturers such as Mercedes, Audi Group, BMW, etc. The sales of new vehicles in Asia Pacific grew by 3.8% to 44 million units in 2017. This is further forecast to grow at 3.3% to 45 million units in 2018. This is due to strong buoyant domestic consumption, increased investment and growing exports.Besides automotive industry, demand for natural fiber-reinforced plastic is growing from aerospace, building & construction and sports industry. There is growing demand for products with enhanced biodegradability, cost effectiveness and low density fueling the demand for natural fiber reinforced plastic. To reduce the interfacial tension between fibers and polymer matrix chemical, modification is done which requires use of chemicals and adds up to the cost of final product. This factor is likely to hinder the natural fiber reinforced plastic market. However, favoring government regulations towards use to natural fibers will complement industry growth by 2025.
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Based on types of plastic used as matrix, natural fiber-reinforced plastic market is segmented into thermoplastic and thermosets. Thermoplastic based natural fiber reinforced plastic are polyester, vinyl ester and epoxies. In recent times, polypropylene has gained much attention due to its advantage of recyclability. Other thermoplastic such as polyethylene and polystyrene are also been used.
Based on types of fiber, natural fiber reinforced plastic market is segmented into flax, banana, jute, coir, sisal and ramie. Flax due to their long fibers are easily incorporated into fiber composite while these products are generally used as parts for vehicle interiors which include glove box and shelving. Their lightweight property makes them an ideal candidate for sporting equipments. Excellent damping properties of natural fibers in natural fiber reinforced plastics are used for producing tennis rackets and bicycles.
The Natural Fiber Reinforced Plastic Market reports basic table of content consists of,
1. Methodology and Scope
2. Executive Summary
3. Natural Fiber Reinforced Plastic Market Industry Insights
3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2019 – 2025
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights
3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter’s analysis
3.10. Company market share, 2018
3.11. PESTEL analysis
3.14. Regional price trends
4. Natural Fiber Reinforced Plastic Market Product Insights
5. Natural Fiber Reinforced Plastic Market Application Insights
6. Natural Fiber Reinforced Plastic Market Regional Insights
7. Competitor Profiles
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North America is the biggest market for natural fiber reinforced plastic, due to presence of well-established aerospace and defense industry. Europe, Germany, France, and the U.K. are some of the importers of natural fiber reinforced plastic. Presence of several highly attractive automobile industry in these region will have a positive impact on the natural fiber reinforced plastic market. Rising population, changing lifestyle and growing urbanization are expected to drive the market in Asia Pacific. Natural fiber reinforced plastic will witness high demand from China, Japan and India owing to their growing automobile industry.
Furthermore, strong growth signs n regional automotive sector along with increasing air traffic will positively impact on Asia Pacific natural fiber reinforced plastic market size by 2025. The recent technological advancement in Latin America and Africa will help expand the natural fiber reinforced plastic during the forecast time period.
1 Natural Fiber Reinforced Plastic Market size & share forecast by product & application 2019-2025
2. Growth drivers, pitfalls & industry challenges
3. Natural Fiber Reinforced Plastic Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
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New natural fiber reinforced plastic product launches and joint ventures are primarily focused by many industry players so that they can maintain competitive edge in the market. Companies such as Amorim, tecnaro, advanced compounding, UPM, Golden compound, pinuform, plasticwood, hexpol, Mondi Paper, linotech, GreenGran are the key market players who focus on strategies and expand their consumer base and widen their product portfolio. Most of these companies are venturing into new geographical areas to tap the growing potential of the market.
Contact Info:
Name: Arun Hedge
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Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/natural-fiber-reinforced-plastic-market
Release ID: 88895819