Product Code: BMIRE00028797
The South & Central America natural fiber composites market is expected to grow from US$ 81.28 million in 2022 to US$ 101.50 million by 2028. It is estimated to grow at a CAGR of 3.8% from 2022 to 2028.
Applications of Natural Fiber Composites in Sporting Goods Applications Fuels South & Central America Natural Fiber Composites Market
Sports goods' manufacturers are focused on innovative materials development and structural design engineering of hockey sticks, badminton and tennis racquets, golf clubs, skis, and other sporting goods. Natural fiber-reinforced composite materials have several properties such as lightweight, high strength, design flexibility, and easy processing and forming characteristics. Therefore, they have a broad range of applications in the sporting goods industry. Natural fiber composites' manufacturers produce lightweight products for several sports applications. Composite material designed and developed for outdoor gear is expected to have properties such as high strength and lightweight and meet customer safety regulations.
Flax fiber composites have inherent dampening properties and vibration control that make them an optimum choice of material for sports products used in skiing, biking, tennis, golf, paddling, and badminton. In 2022, Babolat partnered with Eco-Technilin to develop flax fiber reinforced composites for application in high-performance sport goods. The flax fibers were incorporated into the structure of a tennis racquet range of Pure Aero racquets to offer vibration-reducing performance. In 2022, Hexcel Corporation launched HexPly Nature range of natural fiber composites made from natural fiber reinforcement and bio-derived resin suitable for winter sports applications. Therefore, the utilization of various natural fiber composites in sporting goods applications, owing to biodegradability and high-performance properties, is expected to create lucrative opportunities for the South & Central America natural fiber composites market during the forecast period.
South & Central America Natural Fiber Composites Market Overview
The natural fiber composites market growth in Brazil and Argentina is attributed to the surging urbanization and the increasing number of construction projects. Natural fiber composites are widely used in the construction and automotive sectors as these are feasible for low-cost structural components and eco-friendly alternatives compared to conventional structural materials. Furthermore, the governments of various countries in South & Central America are focusing on developing infrastructure projects, which is expected to boost the demand for natural fiber composites in the construction industry during the forecast period. The noticeable presence of automotive companies in Brazil and Argentina and the rise in sales of vehicles are propelling the sales of natural fiber composites in the region. According to the report by the Brazilian Association of Automotive Vehicle Manufacturers, auto production in Brazil rose by 11.4%, and sales boosted by 10.9% during February-March 2022. Moreover, major market players in the automotive sector have strategized development and expansion of their operational capacities in South & Central America to tap the lucrative automotive market. In 2022, Audi AG invested US$ 19.2 million to restart production at its plant in Parana, Brazil, registering a capacity of 4,000 vehicles per year. Moreover, the increasing presence of automotive, electronics, and consumer goods companies and the rising sales of end-use products are expected to boost the South & Central America natural fiber composites market during the forecast period.
South & Central America Natural Fiber Composites Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Natural Fiber Composites Market Segmentation
The South & Central America natural fiber composites market is segmented into raw material, technology, end user, and country
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 the largest share of the South & Central America natural fiber composites market in 2022.
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 the largest share of the South & Central America natural fiber composites market in 2022.
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 the largest share of the South & Central America natural fiber composites market in 2022.
Based on country, the South & Central America natural fiber composites market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the share of the South & Central America natural fiber composites market in 2022.
Amorim Cork Composites S.A.; Lanxess AG; TECNARO GMBH; and UPM-Kymmene Corp are the leading companies operating in the South & Central America natural fiber composites market.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America natural fiber composites market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in South & Central America natural fiber composites market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Table Of Contents
1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
- 1.3.1 South & Central America Natural Fiber Composites Market, by Raw Material
- 1.3.2 South & Central America Natural Fiber Composites Market, by Technology
- 1.3.3 South & Central America Natural Fiber Composites Market, by End User
- 1.3.4 South & Central America Natural Fiber Composites Market, by Country
2. Key Takeaways
3. Research Methodology
- 3.1 Scope of the Study
- 3.2 Research Methodology
- 3.2.1 Data Collection:
- 3.2.2 Primary Interviews:
- 3.2.3 Hypothesis formulation:
- 3.2.4 Macro-economic factor analysis:
- 3.2.5 Developing base number:
- 3.2.6 Data Triangulation:
- 3.2.7 Country level data:
4. South & Central America Natural Fiber Composites Market Landscape
- 4.1 Market Overview
- 4.2 Porter's Five Forces Analysis
- 4.2.1 Threat of New Entrants:
- 4.2.2 Bargaining Power of Buyers:
- 4.2.3 Bargaining Power of Suppliers:
- 4.2.4 Intensity of Competitive Rivalry:
- 4.2.5 Threat of Substitutes:
- 4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers:
- 4.3.2 Natural Fiber Composites' Manufacturing Process:
- 4.3.3 Distributors or Suppliers:
- 4.3.4 End Users
- 4.4 Expert Opinion
5. South & Central America Natural Fiber Composites Market - Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Increasing Demand for Natural Fiber Composites from Automotive Industry
- 5.1.2 Growing Focus on Eco-Friendly and Sustainable Products
- 5.2 Market Restraints
- 5.2.1 Hygroscopicity of Natural Fiber Composites
- 5.3 Market Opportunities
- 5.3.1 Applications of Natural Fiber Composites in Sporting Goods Applications
- 5.4 Future Trends
- 5.4.1 Development of Natural/Synthetic Fiber-Based Hybrid Composites
- 5.5 Impact Analysis
6. Natural Fiber Composites - South & Central America Market Analysis
- 6.1 South & Central America Natural Fiber Composites Market Overview
- 6.2 South & Central America Natural Fiber Composites Market -Volume and Forecast to 2028 (Kilo Tons)
- 6.3 South & Central America Natural Fiber Composites Market -Revenue and Forecast to 2028 (US$ Million)
7. South & Central America Natural Fiber Composites Market Analysis - By Raw Material
- 7.1 Overview
- 7.2 South & Central America Natural Fiber Composites Market, By Raw Material (2021 and 2028)
- 7.3 Wood
- 7.3.1 Overview
- 7.3.2 Wood: South & Central America Natural Fiber Composites Market - Volume and Forecast to 2028 (Kilo Tons)
- 7.3.3 Wood: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
- 7.4 Cotton
- 7.4.1 Overview
- 7.4.2 Cotton: South & Central America Natural Fiber Composites Market - Volume and Forecast to 2028 (Kilo Tons)
- 7.4.3 Cotton: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
- 7.5 Flax
- 7.5.1 Overview
- 7.5.2 Flax: South & Central America Natural Fiber Composites Market - Volume and Forecast to 2028 (Kilo Tons)
- 7.5.3 Flax: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
- 7.6 Kenaf
- 7.6.1 Overview
- 7.6.2 Kenaf: South & Central America Natural Fiber Composites Market - Volume and Forecast to 2028 (Kilo Tons)
- 7.6.3 Kenaf: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
- 7.7 Hemp
- 7.7.1 Overview
- 7.7.2 Hemp: South & Central America Natural Fiber Composites Market - Volume and Forecast to 2028 (Kilo Tons)
- 7.7.3 Hemp: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
- 7.8 Others
- 7.8.1 Overview
- 7.8.2 Others: South & Central America Natural Fiber Composites Market - Volume and Forecast to 2028 (Kilo Tons)
- 7.8.3 Others: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
8. South & Central America Natural Fiber Composites Market Analysis - By Technology
- 8.1 Overview
- 8.2 South & Central America Natural Fiber Composites Market, By Technology (2021 and 2028)
- 8.3 Injection Molding
- 8.3.1 Overview
- 8.3.2 Injection Molding: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
- 8.4 Compression Molding
- 8.4.1 Overview
- 8.4.2 Compression Molding: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
- 8.5 Pultrusion
- 8.5.1 Overview
- 8.5.2 Pultrusion: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
- 8.6 Others
- 8.6.1 Overview
- 8.6.2 Others: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
9. South & Central America Natural Fiber Composites Market Analysis - By End User
- 9.1 Overview
- 9.2 South & Central America Natural Fiber Composites Market, By End User (2021 and 2028)
- 9.3 Automotive & Aerospace
- 9.3.1 Overview
- 9.3.2 Automotive & Aerospace: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
- 9.4 Building & Construction
- 9.4.1 Overview
- 9.4.2 Building & Construction: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
- 9.5 Electrical & Electronics
- 9.5.1 Overview
- 9.5.2 Electrical & Electronics: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
- 9.6 Sporting Goods
- 9.6.1 Overview
- 9.6.2 Sporting Goods: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
- 9.7 Others
- 9.7.1 Overview
- 9.7.2 Others: South & Central America Natural Fiber Composites Market - Revenue and Forecast to 2028 (US$ Million)
10. South & Central America Natural Fiber Composites Market - Country Analysis
- 10.1 Overview
- 10.1.1 South & Central America Natural Fiber Composites Market, by Key Country-Revenue (2021) (US$ Million)
- 10.1.2 South & Central America Natural Fiber Composites Market, by Key Country
- 10.1.2.1 Brazil: South & Central America Natural Fiber Composites Market -Volume and Forecast to 2028 (Kilo Tons)
- 10.1.2.2 Brazil: South & Central America Natural Fiber Composites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.1.2.2.1 Brazil: South & Central America Natural Fiber Composites Market, by Raw Material
- 10.1.2.2.2 Brazil: South & Central America Natural Fiber Composites Market, by Raw Material
- 10.1.2.2.3 Brazil: South & Central America Natural Fiber Composites Market, by Technology
- 10.1.2.2.4 Brazil: South & Central America Natural Fiber Composites Market, by End User
- 10.1.2.3 Argentina: South & Central America Natural Fiber Composites Market -Volume and Forecast to 2028 (Kilo Tons)
- 10.1.2.4 Argentina: South & Central America Natural Fiber Composites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.1.2.4.1 Argentina: South & Central America Natural Fiber Composites Market, by Raw Material
- 10.1.2.4.2 Argentina: South & Central America Natural Fiber Composites Market, by Raw Material
- 10.1.2.4.3 Argentina: South & Central America Natural Fiber Composites Market, by Technology
- 10.1.2.4.4 Argentina: South & Central America Natural Fiber Composites Market, by End User
- 10.1.2.5 Rest of South & Central America: South & Central America Natural Fiber Composites Market -Volume and Forecast to 2028 (Kilo Tons)
- 10.1.2.6 Rest of South & Central America: South & Central America Natural Fiber Composites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.1.2.6.1 Rest of South & Central America: South & Central America Natural Fiber Composites Market, by Raw Material
- 10.1.2.6.2 Rest of South & Central America: South & Central America Natural Fiber Composites Market, by Raw Material
- 10.1.2.6.3 Rest of South & Central America: South & Central America Natural Fiber Composites Market, by Technology
- 10.1.2.6.4 Rest of South & Central America: South & Central America Natural Fiber Composites Market, by End User
11. Industry Landscape
- 11.1 Overview
- 11.2 Market Initiative
- 11.3 New Product Development
12. Company Profiles
- 12.1 UPM-Kymmene Corp
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
- 12.2 Lanxess AG
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
- 12.3 Amorim Cork Composites SA
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
- 12.4 TECNARO GMBH
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
13. Appendix
- 13.1 About The Insight Partners
- 13.2 Glossary of Terms