The global biocomposites market size is projected to reach USD 46.3 billion by
2025, according to a report by Grand View Research, Inc., exhibiting a 12.5%
CAGR during the forecast period. Increasing use of biocomposites in end-use
sectors such as automotive, building and construction, electrical and
electronics, and consumer goods is the main driver triggering the biocomposites
market. Additionally, changing consumer preference from plastic composites to
ecofriendly biocomposites is expected to spur market growth over the forecast
period.
Biocomposites
are composite materials made from natural fiber such as wood or non-wood fiber,
along with polymer resin. Their use in various sectors is increasing due to
their eco-friendly characteristics. They are effectively being used as a
substitute for plastic composites. Strict environment laws are also favoring
their usage.
Use
of biocomposites made from wood fiber is growing as an increasing number of
forests are under systematic and sustainable utilization. Wood plastic
composites are manufactured from wood fibers. Use of natural polymer is also
increasing as a result of push for 100% biodegradable products. There is a
significant demand for 100% biodegradable products in developed markets of
North America and Europe.
The
handling of plastic waste globally is a serious issue as plastic products do
not decompose easily. In order to tackle this problem, a number of governments
have banned plastic products and are promoting the use of biocomposites as a
substitute for plastic composites. Furthermore, they are used as a substitute
for metal and alloys in automotive nonstructural parts such as parcel shelves
and interior panels. Use of biocomposites in the automotive sector is likely to
help in decreasing the overall weight of a vehicle and also reduce instances of
injuries to passengers in cases of accidents. Similarly, surging demand in
electrical and consumer durables sectors is expected to drive the market.
Rising
disposable income in developing countries such as China and India and growing
awareness about biocomposites and their advantages are key factors expected to
drive the market in the region. Ban on non-reusable plastics in Europe is
driving demand in the region.
A
number of key players in the industry are investing in research and development
of eco-friendly and high strength products. Some players have also integrated
their operations throughout the value chain in an attempt to increase
profitability and serve customers better.
Full Research Report On biocomposites
market Analysis:
https://www.grandviewresearch.com/industry-analysis/biocomposites-market
https://www.grandviewresearch.com/industry-analysis/biocomposites-market
Further key findings from the report
suggest:
·
By type of fiber, wood fiber
composites are expected to grow at the fastest throughout the forecast period
·
Transportation emerged as the
largest end-use segment in the market, followed by building and construction
·
Asia Pacific is expected to be
the largest regional market for biocomposites. It is also likely to be the
fastest-growing regional market over the forecast period.
View More Reports Of This Category By Grand
View Research At: https://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has
segmented the global biocomposites market on the basis of fiber type, polymer
type, product type, end use, and region:
Biocomposites Fiber Type Outlook
(Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
·
Wood Fiber Composites
·
Non-wood Fiber Composites
Biocomposites Polymer Type Outlook
(Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
·
Natural Polymer
·
Synthetic Polymer
Biocomposites Product Type Outlook
(Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
·
Green Biocomposites
·
Hybrid Biocomposites
Biocomposites End-use Outlook (Volume,
Kilotons; Revenue, USD Billion, 2014 - 2025)
·
Transportation
·
Building & Construction
·
Consumer Goods
·
Electrical & Electronics
·
Others
Biocomposites Regional Outlook
(Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o U.K.
o France
o Italy
o Sweden
o Russia
·
Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
·
Central & South America
o Brazil
o Argentina
·
Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
View Press
Release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-biocomposites-market
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
