Europe to consume more than 50% of global natural fiber composite materials by 2019

30-Oct-14

Natural fiber composites (NFCs) are used in a variety of sectors, such as automotive, construction, electrical and electronics and sporting goods. Natural fiber composites have gained favor among the OEMs for its performance characteristics, such as, lighter weight, low-cost, recyclability, and thermal and acoustic insulations. Most thermosetting resins, including polyester, epoxy, phenolic and urethanes, can serve as the matrix for natural fiber composites. Polypropylene is the most dominant resin used with the natural fiber composites. The automotive industry is the largest consumer of NFCs and is anticipated to remain the largest segment for natural fiber composites by 2019, followed by the construction industry. The natural fiber composites is replacing traditionally unreinforced plastic parts in the automotive industry and even used as an alternative to glass fibers. A number of vehicle models featured natural fiber-reinforced plastics in door panels, package trays, seat backs and trunk liners in cars and trucks. As per Lucintel, natural fiber composites market is expected to grow at a CAGR of 11.2% during 2014-2019. Europe is expected to represent more than 50% of the global market in 2019. FlexForm Technologies, Tecnaro GmbH, Procotex SA Corporation NV, GreenGran B.V., and FiberGran GmbH & Co. KG., are some of the suppliers of the natural fiber composite materials for various applications.