Report forecasts growth in natural fiber composites

Research and Markets says the natural fiber composites market is projected to register a compound annual growth rate (CAGR) of 12.31% between 2014 and 2019 to reach $5.8 billion by 2019.

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Research and Markets (Dublin, Ireland) has released a new report, "Natural Fiber Composites Market by Applications (Automotive, Building and Construction, Electrical and Electronics & Others) by Manufacturing Processes (Compression Molding, Injection Molding & Others) and by Region (North America, Europe, Asia-Pacific and Rest of the World) - Global Trends & Forecasts to 2019."

According to the report, the natural fiber composites market is projected to register a compound annual growth rate (CAGR) of 12.31% between 2014 and 2019 to reach $5,838.99 million by 2019. North America held the largest share in 2013 with the U.S. being the leading country. In the less explored markets of Asia-Pacific and Oceania, high growth is expected, while the highly developed North American and European regions are predicted to show moderate to high growth. Growth in the North American region is expected to be from the increase in building and construction because of low interest rates.

According to the report, the key players in the natural fiber composites markets are divided into two groups, natural fiber composites manufacturers/formulators and natural fiber composites suppliers. Flexform Technologies, Technaro GmbH, Procotex S.A. Corp. NV and Greengran B.V are the chief natural fiber composites manufacturers, whereas Stemergy, Bast Fiber LLC, Crailar, and others are the key natural fiber composite suppliers in this market. According to the report, these companies showed significant presence among other players in the fragmented natural fiber composites market.

The report says that many companies offering natural fiber composites are actively trying to increase their product portfolio and regional presence to cater to different regional markets. They are primarily focused on entering less explored markets in developing regions. 

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