Biocomposites Market Growth, Revenue Share Analysis, Company Profiles, and Forecast To 2027

The growing incidence of awareness of the environment and the stringent government regulations regarding the use of products that are environmentally friendly is driving the demand for the market.

Biocomposites Market Size – USD 22.43 million in 2019, Market Growth - CAGR of 10.8%, Market Trends – Rise in trend of globalization and the awareness for the environment.

The Global Biocomposites Market is projected to reach USD 51.32 billion by 2027. The sector is estimated to be powered by the increasing use of biocomposites in end-use sectors such as automotive, building and construction, electrical and electronics, and consumer goods. Also, a change in customer preference from plastic composites to environmentally friendly biocomposites is expected to fuel demand growth over the forecast period.

Biocomposites are composite materials, together with polymer resin, made from natural fibers such as wood or nonwood fiber. Due to its eco-friendly characteristics, their use in different sectors is growing. They are effectively used as a replacement for plastic composites. Strict laws on the environment favor their purpose, too.

Globally, the handling of plastic waste is a severe issue because plastic goods do not quickly decompose. Several governments have banned plastic goods from addressing this issue, and are encouraging the use of biocomposites as a replacement for plastic composites. Besides, they are used in automotive non-structural parts as a replacement for metal and alloys, like parcel shelves and interior panels. The use of biocomposites in the automotive industry is likely to help decrease a vehicle's total weight and thus reduce passenger injuries in accident cases. Similarly, rising demand is expected to drive the market in the electrical and consumer sustainable sectors

Key participants include Huntsman Corporation, Mitsubishi Plastics, Inc., Fiberon LLC, FlexForm Technologies, LLC, Universal Forest Products Inc., Bioworks, Inc., Stemergy, Procotex, ALPAS Srl, NewTechWood, Green Bay Decking, Arkema, Procotex, Tecnaro GmbH, and Bast Fibers LLC, among others.

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Further key findings from the report suggest

• The demand for biocomposites is influenced by stringent government regulations on the use of environmentally friendly materials and the safety & sustainability of biocomposites compared to composites of glass and carbon fiber.
• Wood fiber composites are anticipated to develop most significantly during the forecast period.
• Transportation emerged as a leading end-use segment on the market and accompanied by construction.
• Advances in technology in the mass manufacturing of biocomposites are among the factors driving the global market for biocomposites.
• A variety of major competitors in the sector are investing in eco-friendly and high strength goods for research and development. Several companies have also consolidated their activities around the value chain to improve productivity and improve customer experience.
• In January 2019, Web Industries acquired Omega Systemes Atlantique and Aquitaine. This acquisition brought premier Europe and U.S. producers of advanced materials for aerospace.

For the purpose of this report, Reports and Data have segmented into the global Biocomposites Market on the basis of fiber type, polymer type, product type, manufacturing process, and region:

Fiber Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

• Straw
• Bast
• Hemp
• Flax
• Jute
• Kenaf
• Soft & Hardwood
• Others

Polymer Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

• Natural
• Synthetic

Product Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

• Green
• Hybrid

Manufacturing Process Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

• Compression Molding
• Injection Molding
• RTM
• Others

Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

• Construction
• Transportation
• Consumer Goods
• Electronics & Electrical
• Others

Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

• North America
• Europe
• Asia Pacific
• MEA
• Latin America

To identify the key trends in the industry, click on the link below: @ https://www.reportsanddata.com/report-detail/biocomposites-market

Table of Content:

Highlights of the TOC:

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Biocomposites Market Segmentation & Impact Analysis
    4.1. Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
          4.2.3. Market restraints analysis
    4.3. Technological Insights
    4.4. Regulatory Framework
    4.5. ETOP Analysis
    4.6. Porter’s Five Forces Analysis
    4.7. Competitive Metric Space Analysis
    4.8. Price trend Analysis
    4.9. Customer Mapping

Chapter 5. Competitive Landscape
    5.1. Market Revenue Share By Manufacturers
    5.2. Manufacturing Cost Breakdown Analysis
    5.3. Mergers & Acquisitions
    5.4. Market positioning
    5.5. Strategy Benchmarking
    5.6. Vendor Landscape

Continue……

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