Biocomposites - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Biocomposites Market is accounted for $20.14 billion in 2017 and expected to grow at a CAGR of 16.4% to reach $79.29 billion by 2026. The increasing awareness among the customers to opt for the bio-based materials rather than harmful synthetic material and the recyclable property of the material are driving the market growth. However, the fluctuating pricing and less availability of materials hamper the market growth. The market also witness growth opportunities from the packaging and automotive interiors segment.
Biocomposite are a biocompatible and eco-friendly composite material obtained from a matrix (resin) and strengthening of natural fibers. The matrix helps the fibers from preventing degrading by holding them together, thus giving a control over the life of composite. Biocomposites are available in wide forms, such as films, membranes, moldings, coatings, particles, fibers, and foams. These types of material often imitate the structure of the living materials involved in the process keeping the strengthening properties of the matrix that was used, but always providing biocompatibility. The matrix phase is formed by polymers derived from renewable and nonrenewable resources. The utilization of Biocomposite materials improve health and safety in their production and have a similar appearance to that of wood, and are environmentally better.
Based on fiber type, wood fiber composites are gaining popularity due to their applications in the outdoor construction activities such as decking, balusters, fencing, railing and other activities. In addition wood fibers are lightweight, resistant to moisture & mildew resulting in their negligible maintenance and longer product shelf life. This escalating requirement for lightweight, moisture resistant, and cost economic products in the building & construction end-use industry is expected to drive the wood fiber composites market.
By application, the transportation sector is growing at a great pace. In transportation, the Biocomposites are used in automotive industry due to its properties and special features such as lightweight, impact resistance, and non-toxic features. In addition Biocomposites are considered much safe when compared to other traditional & conventional materials such as glass or carbon fiber composites owing to the fact that no sharp-edged fractures are formed in case of a crash. As there is an increase in demand for materials with such advantages in the transportation industry and can drive the market growth for the Biocomposites market and can create much better opportunities.
With respect to geography, Asia Pacific is expected to grow predominantly due to the mounting demand from the region’s transportation and building & construction end-use industries. Government regulations about the use of non-toxic, biodegradable, lightweight materials and rising infrastructure projects in developing nations, such as China, India, South Korea and others are also probable to drive the market in this region.
Some of the key players in the Biocomposites market are UPM, Universal Forest Products, Inc., Trex Company Inc., Tecnaro GmbH, NewTechWood, Jelu - Werk J.Ehrler GmbH & Co. Kg, Greengran BV, Green Bay Decking, FlexForm Technologies, LLC, Advanced Environmental Recycling Technologies, Inc., Fiberon, LLC, ALPAS Srl, Bcomp Ltd. and Meshlin Composites ZRT.
• Synthetic Polymer
• Natural Polymer
Fiber Types Covered:
• Non-Wood Fiber Composites
• Wood Fiber Composites
• Green Biocomposites
• Hybrid Biocomposites
• Injection Molding
• Compression Molding
• Other Processes
• Consumer Goods
• Building & Construction
• Other Applications
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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- Market share assessments for the regional and country level segments
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- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
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- Supply chain trends mapping the latest technological advancements
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