Press release
Opportunities for the global bio-composites material market to reach $7.6 billion by 2023
Insights that Matter
In this market, building and construction, automotive, and consumer & industrial goods are the major end use industries. Lucintel forecasts that the largest end use industry will be building and construction, and it is also expected to witness the highest growth during the forecast period. Increasing demand for moisture resistance, low maintenance, non-toxic, and durable products are the major requirements driving growth for this segment over the forecast period.
By process type, extrusion, compression, and injection molding processes are used to produce bio-composites end products such as deck, fencing, railing, etc. The extrusion process is expected to remain the largest segment and witness the highest growth in the forecast period because it offers high volume production at low-cost with efficient melting of resin in the process.
By resin type, polyethylene resin based bio-composites is expected to remain the largest segment and witness the highest growth in the forecast period because of durability, near-zero moisture absorption, excellent chemical inertness, and ease of processing.
By fiber type, wood flour based bio-composites is expected to remain the largest segment by value and volume over the forecast period. The increasing demand for WPC decking, fencing, and railing in building and construction industry will drive demand over the forecast period.
North America is expected to remain the largest market by value and volume. Asia-Pacific is expected to witness the highest growth over the forecast period because of increasing demand for WPC decking, fencing, and railing in the building and construction industries of China, India, and Japan.
Emerging trends, which have a direct impact on the dynamics of the industry, include the emergence of new applications, and government support to innovate and commercialize the use of bio-based composites. Trex, Azek Building Products, Fiberon LLC, AERT, UFP, Tamko Building Products, FlexForm Technologies, Technaro GmbH, Procotex Corporation, GreenGran BV, and FiberGran GmbH are among the major suppliers for the global bio-composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global bio-composites resin market by end use industry, process, resin, fiber and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Bio-Composites Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global bio-composites market by end use industry, process, resin, fiber, and region as follows:
Bio-Composites Market by End Use Industry [Volume (M lbs) and $M shipment analysis for 2012–2023]:
• Building and Construction
• Automotive
• Industrial and Consumer Goods
• Others
Wood Plastic Composites Market by End Use Industry [Volume (M lbs) and $M shipment analysis for 2012–2023]:
• Building and Construction
• Automotive
• Industrial and Consumer Goods
• Others
Wood Plastic Composites Market by Building & Construction Application [Volume (M lbs) and $M shipment analysis for 2012–2023]:
• Decking
• Fencing
• Railing
• Others
Natural Fiber Composites Market by End Use Industry [Volume (M lbs) and $M shipment analysis for 2012–2023]:
• Automotive
• Building and Construction
• Others
Bio-Composites Market by Process Type [Volume (M lbs) and $M shipment analysis for 2012–2023]:
• Extrusion
• Compression Molding
• Injection Molding
• Others
Bio-Composites Market by Resin Type [Volume (M lbs) and $M shipment analysis for 2012–2023]:
• Polyethylene
• Polypropylene
• Polyvinyl chloride
• Polylactide Acid
• Others
Bio-Composites Market by Fiber Type [Volume (M lbs) and $M shipment analysis for 2012–2023]:
• Wood Flour
• Flax
• Kenaf
• Hemp
• Jute
• Others
Bio-Composites Market by Region [Volume (M lbs) and $M shipment analysis for 2012–2023]:
• North America
− US
• Europe
− Germany
− United Kingdom
− France
− Russia
• Asia Pacific
− China
− India
− Japan
• Rest of the World
− Brazil
This 212-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Lucintel LLC
222 Las Colinas Blvd West, Suite 1650, Irving, TX 75039, USA
Ph: +1-972-636-5056 Fax: +1-877-883-5140
marketing@lucintel.com
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