Portland, OR, May 24, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the natural fiber reinforcement materials market generated $360.97 million in 2020 and is expected to generate $694.64 million by 2030, growing at a CAGR of 6.81% from 2021 to 2030. The report offers a detailed analysis of the changing trends in the market, value chain, major segments, key investment pockets, regional scenarios, and competitive landscape.
Rising demand for natural fiber reinforcement materials from automotive and construction industry, stringent regulations against the use of polluting synthetic materials and their environmentally friendly nature are driving the growth of the global materials market natural fiber reinforcement. Additionally, increased public awareness of environmental preservation is fueling the growth of the market. However, the low strength compared to synthetic fibers and the volatility of raw material prices limit the expansion of the market. On the other hand, the increase in the use of natural fibers in the packaging and construction industries is creating new opportunities in the coming years.
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- Covid-19 pandemic has negatively impacted the global Natural Fiber Reinforcing Materials Industry due to major disruptions in the shipment of raw materials, labor shortages and closure of many manufacturing companies.
- Additionally, the market was hampered by a drop in demand for many non-essential items and the closure of manufacturing businesses.
The report offers a detailed segmentation of the global natural fiber reinforcement materials market based on end-use industry, type, and region.
Based on end-use industry, the transportation segment held the highest market share in 2020, accounting for nearly 88.79% of the total share, and is expected to maintain its leading status during the forecast period. However, the consumer goods and other segment is expected to grow at the fastest CAGR of 7.29% from 2021 to 2030.
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Based on type, linen segment accounted for the largest share in 2020, contributing almost half of the global natural fiber reinforcing materials market, and is expected to maintain its leading position during the forecast period. However, the jute segment is expected to show the highest CAGR of 8.02% from 2021 to 2030.
Based on region, Europe contributed the highest share in 2020, accounting for nearly three-fifths of the total share, and is expected to retain its dominant revenue share by 2030. However, Asia-Pacific Expected to Show Largest CAGR 7.95% over the forecast period.
Key players in the global natural fiber reinforcement materials market covered in the research include Bast Fiber LLC., AgroFiber SAS, Greene Natural Fibers LLC., Hempflax BV, Kenaf Industries of South Texas, Procotex Corporation, Saneco SA, Schweitzer-Mauduit International, Inc., Hempline Inc., and NFC Fibers GmbH.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.