Lucintel Identifies and Prioritizes Opportunities for Growth in Global Natural Fiber Composites (NFCs) Market

USA, December 9, 2015 (Newswire.com) - According to a new market report published by Lucintel, the future of the natural fiber composites (NFCs) market looks attractive with opportunities in the automotive and building & construction industries. The global natural fiber composites market is forecast to grow at a CAGR of 8.2% from 2015 to 2020. The major driver for the growth of this market is the rise in demand for lightweight and environmentally sustainable composite materials in various applications, such as automotive, building & construction, and others.

In this market, natural fiber (hemp, flax, jute, kenaf, and others) and resin (polypropylene, polyethylene, polylactic acid, and others) are the major raw materials used for producing natural fiber composites. Lucintel predicts that the demand for NFCs is likely to experience a good growth during the forecast period supported by growing demand in end-user industries. On the basis of comprehensive research, Lucintel forecasts that the automotive segment is expected to show above average growth during the forecast period.

Within the natural fiber composites market, the automotive segment is expected to remain the largest application by both value and volume. Increasing concern for passenger safety, government mandates for better fuel economy, and end-of-life vehicles directive are the major driving forces that spur growth for this segment over the forecast period.

Europe is expected to remain the largest market during the forecast period due to higher acceptance level of environmentally sustainable composite materials by automotive OEMs, government directives, and growth in end use industries.

ROW (including Asia Pacific) is expected to witness the highest growth over the forecast period due to growth in automotive production and increasing demand of NFC in automotive applications.

For market expansion, this report suggests innovation and new product development, where the unique characteristics of NFCs can be capitalized. Some of the innovation areas in NFCs could be in achieving higher strength and stiffness, better fire retardant properties, and batch-to-batch quality consistency.

Emerging trends in the global NFCs market, which have a direct impact on the dynamics of the industry, include emergence of new application areas and increasing governmental focus on the use of bio-composites. FlexForm Technologies, Procotex Corporation SA, GreenGran BV and FiberGran GmbH & Co. KG are among the major suppliers of NFCs.

Lucintel, a leading global strategic consulting and market research firm, has analyzed the global natural fiber composites market by end use application, fiber type, resin type, process and region, and has come up with a comprehensive research report, “Global Natural Fiber Composite Market 2015-2020: Trends, Forecast and Opportunity Analysis.” The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast of the global natural fiber composites market through 2020, segmented by end use application, fiber type, resin type, process, and region as follows:

By end-use application [Volume (M lbs) and $M shipment analysis for 2009 – 2020]:

·      Automotive

·      Building and Construction

·      Others

By fiber type [volume (M lbs) and value $M from 2009 - 2020]:

·      Hemp

·      Flax

·      Kenaf

·      Jute

·      Others

By resin type [volume (M lbs) and value $M from 2009 - 2020]:

·      Polypropylene

·      Polyethylene

·      Polylactic acid

·      Epoxy and others

By process [volume (M lbs) and value $M from 2009 - 2020]:

·      Compression Molding

·      Injection Molding

·      Others

By region [volume (M lbs) and value $M from 2009 - 2020]-

·      North America

·      Europe

·      ROW (including Asia Pacific)

This 171-page 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   [email protected]. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategy for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M & A and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.