It is expected that natural fiber composite materials will dominate the market in the future

The application of natural fiber composites in automobiles drives the growth of the market and it is expected that by 2016, the largest market for natural fiber composites will be automobiles.

Nowadays, a subject of great concern is natural fiber composite materials. It is expected that the natural fiber composite market will increase to US$531.3 million in 2016, with a CAGR of 11% in the next five years. As the environmental awareness of the public is increasing and the relatively low cost and low density of these materials, they are becoming increasingly popular. The demand for reliable, durable, lightweight, and high-performance materials is driving the growing use of natural fibers in various industries such as construction, automotive, and construction.

Lucintel Inc. analyzed and presented its research findings in its new research report entitled “Market Trends, Forecasts, and Opportunities Analysis of Natural Fiber Composites for 2011-2016.” Lucintel's research shows that the application of natural fiber composites has risen and its advantage has been catching up with glass fiber. In particular, the application of natural fiber composites in automobiles drives the growth of the market and it is expected that by 2016, the largest market for natural fiber composites will be automobiles. There are several types of automotive parts made from natural fiber composites. They generally use polyester or polypropylene as the matrix resin, and use flax, wool, kenaf, or sisal fibers as reinforcement. The main driving force for the use of natural fiber composite materials in the automotive industry is price, weight and marketing advantages rather than technical requirements. The product range is no longer limited to interior parts and non-structural parts such as doors and rear frames.

From the sales value point of view, it is expected that by 2016, Europe will continue to maintain its dominant position in the world market (with a share of more than 50%), ranking second in North America and third in the rest of the world.