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Global Natural Fiber-reinforced Plastics Market: Overview

Natural fibers are highly popular among researchers due to their application in polymer composites, owing to their eco-friendly nature and sustainability. The increase in concerns related to environment, stringent environmental regulations, and unsustainable consumption of petroleum have led to use of naturally derived materials. In natural fiber-reinforced plastics, biodegradable material, which is fibrous in nature, is embedded in a matrix made of plastic. Plants such as cotton, jute, and bamboo can be used as fiber materials. Advantages of use of natural fibers as plastic reinforcement are attributable to their low density, renewability, biodegradability, non-toxicity, good insulation property, and machine wear. Natural fiber-containing composites are used in sectors such as transportation, (automobiles, railway coaches, and aerospace), military, and building & construction (ceiling paneling, partition boards) and in packaging and consumer products.

Global Natural Fiber-reinforced Plastics Market: Drivers

Demand for natural fiber-reinforced plastics is high in the engineering sector. Different types of natural fiber-reinforced polymer composites have received wide acceptance in the automotive sector by automotive manufacturers such as BMW, Audi Group, Ford, and Mercedes. Wood fibers are used to enclose the rear side of the seat backrest. High demand for cotton fibers that can be used as soundproofing materials propels the natural fiber-reinforced plastics market. Apart from the automobile industry, demand for natural fiber-reinforced plastics is high in sectors such as building & construction, sports, and aerospace. Increase in the demand for products with biodegradability, availability, cost-effectiveness, and low density is propelling the demand for natural fiber-reinforced plastics. However, requirement for chemical modification of natural fibers for improving the interfacial adhesion between fibers and the polymer matrix is likely to restrain the market during the forecast period, as the additional cost makes the process more expensive.

In terms of type of plastic used as matrix, the global natural fiber-reinforced plastics market can be segmented into thermoplastics and thermosets. Most commonly used thermoset polymers in natural fiber-reinforced composites are polyester, epoxies, and vinyl ester. Polypropylene composites have attracted greater attention over the last few years, due to their added advantage of recyclability. Other thermoplastics such as polyethylene and polystyrene have also been used. Based on type of fiber, the natural fiber-reinforced plastics market can be segmented into flax, cotton, jute, sisal, ramie, coir, and banana. In terms of end-use, the market has been categorized into automotive, building & construction, aerospace, and sports & leisure.

Global Natural Fiber-reinforced Plastics Market: Regional Outlook

The global natural fiber-reinforced plastics market witnessed robust growth in 2017 and the trend is estimated to continue during the forecast period. North America is a key region for natural fiber-reinforced plastics market, owing to presence of highly attractive aerospace and defense industries in the region. Germany, the U.K., and France are some of the major importers of natural fiber-reinforced plastics in the Europe region, due to presence of a highly attractive automotive industry in these countries. Rise in population, increase in urbanization, and changes in lifestyle are anticipated to boost the natural fiber-reinforced plastics market in the Asia Pacific region during the forecast period. Natural fiber-reinforced plastics witness high demand from countries such as China, India, and Japan. The natural fiber-reinforced plastics market in Latin America and Africa is expected to expand at a significant pace during the forecast period, owing to overall technological advancements in the region.

Global Natural Fiber-reinforced Plastics Market: Key Players

Key players operating in the global natural fiber-reinforced plastics market include AMORIM, Tecnaro, Advanced Compounding, and UPM etc. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

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Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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Natural Fiber Reinforced Plastics Market

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