#Market Analysis & Forecasts
Natural Fibers Global Market Report 2022: Ukraine-Russia war impact
The global natural fibers market is expected to grow from $63.62 billion in 2021 to $66.10 billion in 2022 at a compound annual growth rate (CAGR) of 3.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The natural fibers market is expected to grow to $77.12 billion in 2026 at a compound annual growth rate (CAGR) of 3.9%.
The natural fibers market consists of sales of natural fibers by entities (organizations, sole traders, and partnerships) that are used in various industries for their better renewable, cost-effective, abundant, formability, and eco-friendly features. Natural fibers refer to long, thin, and flexible thread-like structures with various advantages, including high specific stiffness and strength, a good fiber aspect ratio, biodegradability, and easy accessibility from natural sources.
The main types of natural fibers are cellulose-based, and protein-based fibers.The cellulose-based fibers refer to fibers consisting primarily of cellulose and a varying amount of hemicellulose, lignin, pectins, and waxes depending on the origin of extraction from part of the plant.
The distribution channels include direct or institutional sales, retail sales, and other channel sales. The various end-use industries include automotive, textiles, medical, and other end-user industries.
Asia Pacific was the largest region in the natural fibers market in 2021.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in natural fibers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising focus on the fuel efficiency of vehicles is expected to propel the growth of the natural fibers market going forward.Fuel efficiency refers to a measurement of how far a car can go on a certain amount of fuel.
Natural fibers help fuel efficiency vehicles by reducing the weight of the vehicle in order to consume less fuel. For instance, in 2020, according to Consumer Reports, a US-based nonprofit consumer organization, a survey of 3,879 Americans revealed that 83% of Americans agree that they expect new car generations to be more fuel-efficient than the previous ones, and 74% stated that automaker companies have a duty to continue improving gas mileage. 89% of people in the survey believed that automakers should keep enhancing the fuel efficiency of new vehicles. Therefore, the rising focus on fuel efficiency is driving the natural fiber market.
Product innovations are the key trend gaining popularity in the natural fibers market.Major companies operating in the natural fibers market are developing new products with advanced technological processes to sustain their position in the natural fibers market.
For instance, in June 2020, Sateri, a China-based natural and high-quality fiber developer launched Finex, an innovative next-generation cellulosic fiber made with recycled material.Finex is a unique product that is manufactured from bio-based natural fibers which are a combination of recycled pre-consumer and post-consumer textile waste, and other PEFC-certified wood pulp from renewable plantations and includes unique features such as being soft on the skin and brightly colored and breathable.
Due to its innovation and technology, Finex makes it feasible to recycle cellulosic textile fiber.
In October 2021, Bast Fibre Technologies (BFT), a Canada-based cleantech fiber engineering firm acquired Faser Veredlung Tonisvorst (FTV) for an undisclosed amount.Through this acquisition, Bast Fibre Technologies aims to strengthen its manufacturing capabilities to cater to the increasing demand of customers and expand.
Faser Veredlung Tönisvorst is a Germany-based textile processing facility that manufactures natural fiber.
The countries covered in the natural fibers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Major players in the market are Barnhardt Manufacturing Company , BComp Ltd , UPM , The Natural Fibre Company , JELU-WERK J. Ehrler GmbH and Co KG, LENZING AG, OECO Textiles , TECNARO GMBH , Procotex , Grasim Industries Limited , Ananas Anam , Circular Systems SPC, Chandra Prakash and Company, and Kelheim Fibres GmbH.
The natural fibers market research report is one of a series of new reports that provides natural fibers market statistics, including natural fibers industry global market size, regional shares, competitors with a natural fibers market share, detailed natural fibers market segments, market trends and opportunities, and any further data you may need to thrive in the natural fibers industry. This natural fibers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report:
https://www.reportlinker.com/p06364860/?utm_source=GNW
