SAN FRANCISCO, June 14, 2016 /PRNewswire/ --
The global natural fiber composites market is expected to reach USD 10.89 billion by 2024, according to a new report by Grand View Research, Inc. Natural fiber composites are eco-friendly materials used to provide durability and strength to the physical structures used in automotive and construction industries. Rising awareness regarding bio-based green building materials and supportive government regulations are likely to propel growth over the forecast period. Furthermore, increasing population has led to growing demand for residential construction as well as public infrastructure, which is expected to augment growth.
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Technological advancements in manufacturing processes such as compression molding, injection molding, and extrusion are likely to have a positive impact on growth over the next eight years. Natural fibers are substituting glass and carbon fibers in the recent years due to low costs and improved sustainability. Natural fibers are available in abundance in Europe and Asia Pacific which in turn is expected to propel demand over the next eight years.
Browse full research report with TOC on "Natural Fiber Composites Market Analysis By Raw Material (Wood, Cotton, Flax, Kenaf, Hemp), By Matrix (Inorganic Compound, Natural Polymer, Synthetic Polymer), By Technology (Injection Molding, Compression Molding, Pultrusion), By Application (Automotive, Electronics, Sporting Goods, Construction) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/natural-fiber-composites-market
Further key findings from the report suggest:
Grand View Research has segmented the global natural fiber composites market on the basis of raw material, matrix, technology, application and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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