At 3.8% CAGR, the South & Central America Natural Fiber Composites Market is projected to be worth US$ 101.50 million by 2028, says Business Market Insights

According to Business Market Insights research, the South & Central America natural fiber composites market  was valued at US$ 81.28 million in 2022 and is expected to reach US$ 101.50 million by 2028, registering a CAGR of 3.8% from 2022 to 2028. Increasing demand for natural fiber composites from automotive industry and growing focus on eco-friendly and sustainable products are the critical factors attributed to the South & Central America natural fiber composites market  expansion.        

Natural/synthetic fiber-based hybrid composites are developed by combining two or more reinforcements in a common matrix. Hybrid materials are gaining popularity and are the fastest-growing classes of novel natural fiber composite material technology. Hybridization of two fibers in a single matrix provides various material properties of both natural and synthetic fibers, such as renewability, sustainability, and superior mechanical and thermal properties. Growing environmental impact associated with production such as, non-biodegradability and recycling issues of synthetic fiber composites has encouraged manufacturers to develop eco-friendly composites using natural fibers for various applications, including automotive, marine, construction, and sporting goods. Many natural fiber types such as kenaf, jute, cotton, flax, hemp, and sisal are considered suitable for composite development, as these reinforcement materials are abundantly available at low cost, and they are eco-friendly and possess required mechanical properties. However, the moisture absorption property and hydrophilic nature of natural fibers damage the internal composite structure and complicate the composite processing. These drawbacks and other poor mechanical properties of natural fiber composites can be overcome by the hybridization of natural and synthetic fibers. Manufacturers and researchers are focused on the development of polymer hybrid composites that are reinforced with various combinations of nano carbon fibers and natural fibers to increase the applications in the field of engineering and technology. Recycled Carbon Fiber Natural Fibers and Polypropylene (rCF NFPP) is a composite material consisting of 40% natural fibers, 50% polypropylene, and 10% recycled carbon fibers. The combination of natural and recycled carbon fibers results in a weight reduction that reduces the greenhouse potential by up to 50%. Thus, research and development of natural/synthetic fiber-based hybrid composites allow manufacturers and end-users to design the material properties according to the requirements.

On the contrary, hygroscopicity of natural fiber composites hampers the South & Central America natural fiber composites market.  

Based on raw material, the South & Central America natural fiber composites market is segmented into wood, cotton, flax, kenaf, hemp, and others. The wood segment held 46.4% share of South & Central America natural fiber composites market in 2022, amassing US$ 37.70 million. It is projected to garner US$ 47.86 million by 2028 to expand at 4.1% CAGR during 2022–2028.

Based on technology, the South & Central America natural fiber composites market is segmented into injection molding, compression molding, pultrusion, and others. The others segment held 40.8% share of South & Central America natural fiber composites market in 2022, amassing US$ 33.19 million. It is projected to garner US$ 40.83 million by 2028 to expand at 3.5% CAGR during 2022–2028.

Based on end user, the South & Central America natural fiber composites market is segmented into automotive & aerospace, building & construction, electrical & electronics, sporting goods, and others. The automotive & aerospace segment held 35.0% share of South & Central America natural fiber composites market in 2022, amassing US$ 28.44 million. It is projected to garner US$ 35.85 million by 2028 to expand at 3.9% CAGR during 2022–2028.

Based on country, the South & Central America natural fiber composites market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 71.4% share of South & Central America natural fiber composites market in 2022. It was assessed at US$ 58.03 million in 2022 and is likely to hit US$ 73.05 million by 2028, exhibiting a CAGR of 3.9% during the forecast period.      

Key players dominating the South & Central America natural fiber composites market  are Amorim Cork Composites S.A.; Lanxess AG; TECNARO GMBH; and UPM-Kymmene Corp, among others.  

• August 2020, UPM developed a wood-based natural fiber composite with up to 100% renewable resources. UPM Formi EcoAce can replace fossil-based solutions as it is similar in quality and performance to non-renewable alternatives. The material can be used in food contact, personal care, and consumer goods, made by injection molding or extrusion.

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