(MENAFN- PR Newswire)
DUBLIN, March 15, 2022 /PRNewswire/ -- The 'Biocomposites Market by Fiber Type (Wood Fiber and Non-wood Fiber), Polymer Type (Synthetic and Natural), Product (Hybrid and Green), End-use Industries (Building & Construction, Transportation, and Consumer Goods) and Region - Global Forecast to 2026' report has been added to ResearchAndMarkets.com's offering.
The global biocomposites market size is projected to grow from USD 24.4 billion in 2021 to USD 51.2 billion by 2026, at a CAGR of 16.0% between 2021 and 2026.
Wood fiber composites are the fastest-growing fiber type of biocomposites market in terms of value. Wood fiber composites is the fastest-growing fiber type, in terms of both volume and value during forecasted years. These biocomposites are produced in the form of decking, railings, balusters, fences, and others. Wood fiber composites are less expensive than non-wood fiber composites. These are used in applications, such as residential, commercial establishments, pool-side area, observatory deck, and jetties. These are some of the factors driving the demand for wood fiber composites during the forecast period. Natural-polymer based biocomposites is the fastest-growing polymer type of biocomposites, in terms of value. Natural polymers are obtained from a variety of sources, including plants and recycled plastics. They are an emerging product, which is expected to decrease the dependency on petroleum polymers. Natural polymers have the potential to increase their penetration in different end-use industries due to their favorable properties. Increasing government focus on increasing the use of environmentally-friendly products instead of petroleum-based products is a major driver for natural polymer based composites. Hybrid biocomposites is the fastest-growing product type of biocomposites, in terms of value. The hybrid composites product segment is the fastest-growing product segment in the global biocomposites market in terms of value during the forecasted period, backed by the strong demand for biocomposites across the globe. This high market share is attributed to their good fiber-polymer adhesion that results in low moisture absorption, high strength, and dimensional stability. Transportation is the fastest-growing end-use industry of biocomposites, in terms of value. The transportation end-use industry is estimated to account for the largest CAGR of the global biocomposites market. The demand for lightweight, naturally sourced products is resulting in increased fuel efficiency; it is expected to drive the biocomposites market growth. An increase in the penetration of biocomposites is expected during the forecast period as automobile manufacturers have to meet stringent emission norms, such as CAFE, EU Norms, and BS-IV. The global biocomposites market is, therefore, projected to register the highest CAGR in the transportation end-use industry between 2021 and 2026 compared to other end-use industries, such as building & construction and consumer goods. The production of biocomposite parts across various industries was halted due to COVID-19, in 2020 Asia Pacific is the fastest-growing biocomposites market. Asia Pacific is projected to register the highest CAGR in terms of value in the global biocomposites market during the forecast period. Asia Pacific dominated the biocomposites industry in 2020. The biocomposites manufacturing companies have ample opportunities in the Asia Pacific market in comparison to the European and North American counterparts owing to low-cost labor and raw materials.Due to COVID-19, composites producers and numerous companies have halted their production sites across various countries that has led to reduced demand for biocomposites, Asia Pacific countries. The recovery in the end-use industries with restoration in the supply chain would drive the biocomposites demand during the forecast period. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 4.1 Attractive Opportunities in Biocomposites Market4.2 Biocomposites Market, by End-Use Industry and Region, 20204.3 Biocomposites Market, by Fiber Type, 20204.4 Biocomposites Market, by Polymer Type, 20204.5 Biocomposites Market, by Product, 20204.6 Biocomposites Market Growth: Key Countries
5 Market Overview 5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Government Regulations Regarding Use of Environmentally- Friendly Products5.2.1.2 Safer Compared to Glass Fibers5.2.1.3 Recyclability5.2.1.4 Government Stimulus Packages to Drive Biocomposites Market5.2.2 Restraints5.2.2.1 Relatively Low Strength as Compared to Glass Fibers5.2.2.2 Fluctuating Cost, Availability, and Quality of Raw Materials5.2.2.3 Lower Demand, Low-Capacity Utilization, and Liquidity Crunch Due to COVID-195.2.3 Opportunities5.2.3.1 Possibility of Price Reduction with Economies of Scale5.2.3.2 Increasing Market Penetration in Automotive Interior Segment Driven by Government Regulations5.2.3.3 Opportunities in Packaging Industry5.2.4 Challenges5.2.4.1 Maintaining Consistency in Manufacturing Process and Mechanical Performance5.2.4.2 Dominance of Glass Fiber and Carbon Fiber in Composites Industry5.2.4.3 Overcoming Bottlenecks in Supply Chain Due to COVID-19 Pandemic5.3 Industry Trends5.4 Technology Analysis5.5 Ecosystem: Biocomposites Market5.6 Value Chain Analysis5.6.1 Raw Materials5.6.2 Intermediates5.6.3 Molder5.7 Supply Chain Analysis5.8 Impact of COVID-195.8.1 Impact of COVID-19 on Automotive and Transportation Industries5.8.2 Short-Term Strategies to Manage Cost Structure and Supply Chains5.8.3 New Opportunities5.9 Biocomposites Market: Optimistic, Pessimistic, and Realistic Scenarios5.9.1 Optimistic Scenario5.9.2 Pessimistic Scenario5.9.3 Realistic Scenario5.10 Pricing Analysis5.11 Average Selling Price5.12 Key Markets for Import/Export5.13 Patent Analysis5.14 Case Study Analysis5.15 Tariff and Regulations5.16 Trends and Disruptions Impacting Customers
6 Biocomposites Market, by Fiber Type 6.1 Introduction6.2 Wood Fiber Composites6.2.1 These Composites Are Used Mainly as Indoor and Outdoor Decking6.2.2 Hardwood6.2.3 Softwood6.2.4 Wood Fiber Composites, by Region6.3 Non-Wood Fiber Composites6.3.1 Preferable Alternative to Glass, Carbon, and Synthetic Fiber Composites6.3.2 Flax6.3.3 Hemp6.3.4 Jute6.3.5 Others6.3.6 Non-Wood Fiber Composites, by Region
7 Biocomposites Market, by Polymer Type 7.1 Introduction7.2 Natural Polymer7.2.1 Increasing Government Regulations Enabling Manufacturers to Adopt Natural Polymers for Various Applications7.2.2 Polyhydroxyalkanoate (Pha)7.2.3 Polylactic Acid (Pla)7.2.4 Others7.2.5 Natural Polymer-Based Biocomposites Market, by Region7.3 Synthetic Polymer7.3.1 Flame Retardant and Resistance to Moisture Properties Makes Them Favorable for Different End-Use Industries7.3.2 Epoxy7.3.3 Polypropylene (Pp)7.3.4 Others7.3.5 Synthetic Polymer-Based Biocomposites Market, by Region
8 Biocomposites Market, by Product 8.1 Introduction8.2 Hybrid Biocomposites8.2.1 New Additions in Industrial Manufacturing Driving Demand for Hybrid Biocomposites8.2.2 Hybrid Biocomposites Market, by Region8.3 Green Biocomposites8.3.1 Growing Environmental Awareness Fuelling Adoption of Green Biocomposites8.3.2 Green Biocomposites Market, by Region
9 Biocomposites Market, by End-Use Industry 9.1 Introduction9.2 Transportation9.2.1 Environmental Regulations Regarding Emission Standards Driving Demand for Biocomposites9.2.2 Biocomposites Market Size in Transportation End-Use Industry, by Region9.3 Building & Construction9.3.1 Largest End-Use Industry of Biocomposites Market9.3.2 Biocomposites Market Size in Building & Construction End-Use Industry, by Region9.4 Consumer Goods9.4.1 Increasing Adoption of Biocomposites to Manufacture Various Consumer Goods Driving Market9.4.2 Biocomposites Market Size in Consumer Goods End-Use Industry, by Region9.5 Others9.5.1 Marine9.5.2 Sports & Leisure Goods9.5.3 Electrical & Electronics9.5.4 Aerospace9.5.5 Biocomposites Market Size in Other End-Use Industries, by Region
10 Biocomposites Market, by Region
11 Competitive Landscape 11.1 Introduction11.2 Market Share Analysis11.3 Market Ranking11.4 Market Evaluation Framework11.5 Revenue Analysis of Top Market Players11.6 Company Evaluation Matrix11.6.1 Star11.6.2 Pervasive11.6.3 Participants11.6.4 Emerging Leaders11.6.5 Strength of Product Portfolio11.6.6 Business Strategy Excellence11.7 Small and Medium-Sized Enterprises (Sme) Evaluation Matrix11.8 Start-Up/ Small and Medium-Sized Enterprises (Sme) Evaluation Matrix11.8.1 Progressive Companies11.8.2 Responsive Companies11.8.3 Dynamic Companies11.8.4 Starting Blocks
12 Company Profiles 12.1 Key Companies12.1.1 Trex Company, Inc.12.1.2 Upm12.1.3 Universal Forest Products, Inc.12.1.4 Celanese Corporation12.1.5 Daicel Corporation12.1.6 Flexform Technologies12.1.7 Sappi12.1.8 Tecnaro Gmbh12.1.9 Jelu-Werk J. Ehrler GmbH & Co. Kg12.1.10 Green Bay Decking LLC12.1.11 Eastman Chemical Company12.1.12 Fiberon LLC12.1.13 Meshlin Composites Zrt12.1.14 Aztron Technologies12.1.15 Huangshan Huasu New Material Science & Technology Co. Ltd.12.1.16 Newtechwood Ltd.12.1.17 Nanjing Jufeng Advanced Materials Co. Ltd.12.2 Other Key Players12.2.1 Advanced Environmental Recycling Technologies, Inc.12.2.2 Mcg Biocomposites LLC12.2.3 A B Composites Pvt. Ltd.12.2.4 Bcomp Ltd.12.2.5 Tts (Tekle Technical Services), Inc.12.2.6 Green Dot Holding LLC12.2.7 Lingrove12.2.8 Polyvlies Franz Beyer GmbH & Co. Kg12.2.9 Weyerhaeuser12.2.10 Tamko Building Products Inc.12.2.11 Winrigo12.2.12 Yixing Hualong New Material Lumber Co. Ltd.12.2.13 Anhui Huiyun Wood Plastic Composite Co. Ltd.
13 Appendix
For more information about this report visit
Media Contact:
Research and Markets Laura Wood, Senior Manager [email protected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
MENAFN15032022003732001241ID1103850916
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.