NATURAL FIBER REINFORCED COMPOSITES MARKET ANALYSIS

Market Challenges And Opportunities

Market Drivers:

Growing demand from automotive industry

Increasing demand for bio-based composite materials due to growing environmental concerns is a prime factor driving growth of the natural fiber reinforced composites market. These fiber composites are derived from the bast, or outer stem, of various plants. The use of these composites can reduce the carbon footprint by 50% compared to oil-based products. Additionally, these natural fibers are recyclable (up to 100%). All these factors are expected to drive market growth.

Increasing demand for eco-friendly and sustainable fiber composite

The growing use of bio-based fiber composites in the automobile industry is again fostering market growth. Due to their lightweight properties, they are increasingly used in the production of electric vehicle components. Moreover, these composites can be used in floor panels, door panels, seat backs, underfloor pans, headliners, and trunk liners in cars and trucks due to its competitive stiffness and strength compared to various synthetic fibers and good acoustic insulation characteristics.

• Growing demand from automotive industry
• Increasing demand for eco-friendly and sustainable fiber composite

• Low impact resistant compared to glass reinforced composite

Market Restraints:

Low impact resistant compared to glass reinforced composite

Research has demonstrated that the physical properties, such as dimensional instability and glass transition temperature, and mechanical properties, such as flexural, tensile, fracture, and impact, reduce, when the natural fibers absorb moisture. This is primarily due to the reduction in interfacial bonding between the fiber and the matrix. These moisture level can lead to the formation of voids in the composite matrix. This factor is expected to hinder market growth.

Moreover, low impact resistivity compared to glass fiber reinforced composites is again expected to lower the adoption of bio-based fiber composites. Various results have shown that the impact resistance (notched and un-notched) of natural fiber composites is drastically lower than that of glass fiber reinforced composites, and such behavior should be primarily due to the lower fiber strength. This is expected to restrict the market growth.

Market Opportunities:

The increasing use of flame retardants during natural fiber reinforced composites manufacturing

The increasing use of flame retardants during natural fiber reinforced composites manufacturing is expected to bring profitable growth opportunities for the key players active in the market. For instance, some of the key flame retardants used during the manufacturing of natural fiber reinforced composites include ammonium polyphosphate (APP), Magnesium hydroxide (Mg(OH) 2), zinc borate (Zb), and graphite. Some of the other flame retardant additives include halloysite nanotubes, phosphorous compounds, sodium metasilicate, nanoclays, and others.

The growing use of natural fiber reinforced composite in the construction sector especially in civil engineering construction applications is expected to offer potential growth opportunities over the forecast period. For instance, wood-fiber-reinforced composites can be used for fencing, decking, molding, trim, etc. They have low maintenance costs and resistance to stains, weathering, and warping.