Bio-Composites Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Fiber Type (Wood, Non-Wood), By Polymer Type (Natural, Synthetic), By Product (Hybrid, Green), By End User (Transportation, Building & Construction, Consumer Goods, Others), By Region and Competition
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationBio-Composites Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Fiber Type (Wood, Non-Wood), By Polymer Type (Natural, Synthetic), By Product (Hybrid, Green), By End User (Transportation, Building & Construction, Consumer Goods, Others), By Region and Competition
In 2021, Biocomposite production in Europe stood at roughly 436 thousand metric tonnes.
Biocomposites are made of natural fibers such as hemp, wood, paper industry waste, jute, and flax in the polymer matrix. Because of the greater use of natural fiber as reinforcement and the high cost of synthetic fibers, the market for bio-composites is expected to grow over the next several years. Additionally, rising demand in the automotive sector to increase the safety of passengers and reduce the weight of a vehicle is expected to increase the market demand.
Growing Demand from Building & Construction
In the building sector, biocomposites are increasingly employed for wall sheathing, roofing, and flooring. For the same price, these composites provide goods with more excellent durability than conventional wood or steel ones. Biocomposites may be produced with varying degrees of fire resistance in addition to their physical characteristics, making it feasible to utilize them as exterior cladding on buildings or even roofs without harming safety. In addition, biocomposites are also used in the restoration and renovation of various structural parts. Due to excellent thermal & auditory properties, they are also used as insulating & soundproof materials. Thus, the demand for biocomposites will likely grow globally during the forecast period.
Furthermore, concerning government rules regarding sustainable building materials, biocomposites play a vital role because they help to eliminate nonrenewable waste, reduce raw material utilization, cut fossil fuel consumption, and replace synthetic fiber-reinforced composites; all these factors driving the biocomposites market growth.
High Demand from the Transportation Segment
In addition, biocomposites are utilized in various automotive applications
Moreover, ongoing vehicle technological advancement and increasing focus on the use of more sustainable and environmentally friendly vehicles in the form of E-vehicles are raising the demand for bio-composites in the upcoming years.
Increasing Demand from Defence and Aerospace Sector
An unusual demand for bio-based products will result from the aerospace and defense industries' need for biocomposites. Currently, the usage of biocomposites is increasing in the aerospace industry to produce aircraft equipment, which necessitates cutting-edge composites that can maintain the product; all these factors are expected to increase the growth of the biocomposites market in the projected period.
Recent Developments
- In April 2022, INCA Renewtech announced to manufacture
of a 2,00,000-square-foot fibers processing & composites production facility
in Vegreville, Alberta.
- The Tepex series of continuous-fiber-reinforced
thermoplastic composites were introduced by LANXESS in October 2021. It
combines textiles from natural flax fibers with bio-based polylactic acid
as matrix materials. The only natural resources used in the development of
this bio-composite.
- In October 2021, a broad selection of
sustainable/natural bio-composites will be introduced by Retrac Group, a recognized
composites expert in the UK.
- For the treatment of infections in the bones and soft
tissues, Biocomposites, a global medical device firm, produces and manufacture
industry-leading solutions in July 2021.
Market Segmentation
Global Bio-Composites Market
Market Players
Stora Enso Oyj, UPM-Kymmene Corporation, Tecnaro GmbH, BioComposites Group, Green Dot Bioplastics Inc, Retrac Group Limited, A.B.Composites Pvt.Ltd., Winrigo (S) Pte Ltd, Anhui Guofeng Wood-Plastic Composite Co., Ltd., Meshlin Composites Zrt. are some of the key players of the Global Bio-Composites Market.
|
Attribute |
Details |
|
Base Year |
2022 |
|
Historic Data |
2018 – 2022 |
|
Estimated Year |
2023 |
|
Forecast Period |
2024 – 2028 |
|
Quantitative Units |
Revenue in
USD Million, Volume in Units, and CAGR for 2018-2022 and 2023-2028 |
|
Report coverage |
Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends |
|
Segments covered |
·
Fiber Type ·
Polymer Type ·
Product ·
End User |
|
Regional scope |
North
America, Europe, Asia Pacific, South America, Middle East & Africa |
|
Country scope |
United States,
Mexico, Canada, France, Germany, United Kingdom, Italy, Russia, China, India,
South Korea, Japan, Australia, Malaysia, Indonesia, Thailand, Brazil, Argentina,
South Africa, Saudi Arabia, UAE |
|
Key companies profiled |
Stora Enso
Oyj, UPM-Kymmene Corporation, Tecnaro GmbH, BioComposites Group, Green Dot
Bioplastics Inc, Retrac Group Limited, A.B.Composites Pvt.Ltd., Winrigo (S)
Pte Ltd, Anhui Guofeng Wood-Plastic Composite Co., Ltd., Meshlin Composites
Zrt. |
|
Customization scope |
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
Pricing and purchase
options |
Avail customized
purchase options to meet your exact research needs. Explore purchase options |
|
Delivery Format |
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request) |
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