The Biocomposites Market is segmented by Fiber Type (Wood Fiber Composites and Non-wood Fiber Composites), by Polymer Type (Natural Polymer and Synthetic Polymer), byProduct Type (Hybrid Biocomposites and Green Biocomposites), byProcess Type (Extrusion, Compression Molding, Injection Molding, and Others), byEnd-Use Industry Type (Transportation, Building & Construction, Consumer Goods, Electrical and Electronics, and Others), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
The Biocomposites Market is segmented by Fiber Type...
“The Biocomposites Market is expected to grow from USD 29.5 billion in 2022 to USD 69.13 billion by 2028 at a CAGR of 15.00% during the forecast period”.
Biocomposites are materials that are composed of two or more different components, at least one of which is derived from a renewable resource, such as plants, animals, or microorganisms. These renewable resources can be used as fillers, reinforcements, or matrices in the composite material. Biocomposites have many potential applications, including in the transportation, construction, and consumer goods industries.
They are often considered to be more sustainable than traditional composites made from fossil-fuel-derived materials, as they are renewable, biodegradable, and can reduce the carbon footprint of the products that they are used in.
Market Drivers
Major factors such as a focus on the use of environment-friendly products, demand for sustainable materials in the construction industry, and the biodegradable nature of biocomposites are expected to fuel the growth of the market during the forecast period.
COVID-19 Impact
In the year 2020, the sudden outburst of the pandemic harmed the biocomposites market. Due to the pandemic, there was an enormous decline in construction activities and infrastructure development across regions. The grave impact of this was registered across the supply chain including the level of components. However, the industry is gradually rebounding in the year 2021 with the ramp-up in consumer confidence.
Segments Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Fiber-Type Analysis
Wood Fiber Composites and Non-wood Fiber Composites
Wood fiber composites is anticipated to remain the larger segment by fiber type during the forecast period.
Polymer-Type Analysis
Natural Polymer and Synthetic Polymer
Synthetic polymer dominated the market in 2022.
Product-Type Analysis
Hybrid Biocomposites and Green Biocomposites
Hybrid biocomposites account for the larger share of the biocomposites market.
Process-Type Analysis
Extrusion, Compression Molding, Injection Molding, and Others
Compression molding is projected to be the fastest-growing segment during the forecast period
End-Use Industry-Type Analysis
Transportation, Building & Construction, Consumer Goods, Electrical and Electronics, and Others
Building & Construction held the major share of the market in 2022.
Regional Analysis
North America, Europe, Asia-Pacific, and Rest of the World
Asia-Pacific is expected to remain the largest market over the next five years.
By Fiber Type
“Wood fiber composites are expected to remain the larger segment by fiber type in the market”.
The biocomposites market is segmented into wood fiber composites and non-wood fiber composites. Wood fiber composites are anticipated to continue dominating as the larger segment in the market by fiber type during the forecast period owing to the increasing demand from the construction industry.
By Polymer Type
“Synthetic polymers are anticipated to continue as the leading polymer type in the market”.
The market is segmented into natural polymer and synthetic polymer. Synthetic polymer is expected to remain the dominant polymer type in the market during the forecast period. Natural polymer is anticipated to be the fastest-growing segment during the forecast period. Increasing demand for natural polymers, coupled with demand for biodegradable goods is expected to fuel the growth of the natural polymer market in the coming years.
By End-Use Industry Type
“The building and construction segment is projected to maintain its dominance throughout the forecast period”.
The market is segmented into transportation, building & construction, consumer goods, electrical and electronics, and others. The building & construction segment is expected to remain dominant during the forecast period. Biocomposites are materials made from renewable resources such as natural fibers, biopolymers, and resins.
Biocomposites have the potential to be used as sustainable alternatives to traditional building materials in the construction industry, due to their low carbon footprint and ability to biodegrade at the end of their useful life.
Regional Analysis
“Asia-Pacific region is anticipated to continue as the largest market for biocomposites”.
The market is broken down geographically into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is expected to remain the largest market for biocomposites during the forecast period.
Increasing construction activities, growing population, flourishing automotive industry, and rising disposable income are the major factors driving the growth of the biocomposites market in the Asia-Pacific region. North America and Europe are also likely to create sizeable opportunities in the coming five years.
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Key Players
The following are the key players in the Biocomposites Market (arranged alphabetically)
Advanced Environmental Recycling Technologies
Azek Building Products
EP Biocomposites Ltd.
FiberGran GmbH & Co. KG
Fiberon LLC
FlexForm Technologies
Green Dot Bioplastics Inc.
GreenGran BV
Lingrove Inc.
Procotex Corporation SA
Tamko Building Products
Tecnaro GmbH
Trex Company Inc.
Universal Forest Products, Inc.
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Biocomposites Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
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The biocomposites market is driven by increasing demand for biocomposites due to their various properties such as high tensile strength and less weight as compared to the other materials. The biodegradable nature of biocomposites is one of the factors fueling the growth of the market. In addition, the increased use of biocomposites in different types of industries and the demand for sustainable materials in the construction industry are expected to drive the market during the forecast period.
Asia-Pacific is estimated to remain dominant in the biocomposites market in the foreseeable future. The key economies driving the region’s demand for biocomposites are China, India, and Japan.
Advanced Environmental Recycling Technologies, Azek Building Products, EP Biocomposites Ltd., FiberGran GmbH & Co. KG, Fiberon LLC, FlexForm Technologies, Green Dot Bioplastics Inc., GreenGran BV, Lingrove Inc., Procotex Corporation SA, Tamko Building Products, Tecnaro GmbH, Trex Company Inc., and Universal Forest Products, Inc. are the leading players in the biocomposites market.
