Press release
Biocomposites Market Overview, Segment Analysis, Growth Opportunities and Forecast to 2023
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Based on type, the biocomposites market is categorized into structural and non-structural . Structural was the larger category in the market, contributing more than 50.0% revenue share in 2017. The larger share of the type is ascribed to wide range of application of structural bio-based composites in housing industry owing to their exceptional load bearing property.
On the basis of fiber type, the biocomposites market is categorized into wood-plastic composites (WPC) and natural fiber composites (NFC). WPC was the larger type in the market, accounting for more than 50.0% volume sales in 2017. The large-scale consumption of wood composites in furniture and consumer goods applications, is fuelling the market growth.
The biocomposites market in Asia-Pacific (APAC) is expected to register a CAGR of 13.7% during the forecast period, in terms of value. Rapid industrialization is the key factors attributable to the overall expansion of the APAC market.
Traditionally, the demand for bio-based composites in military aviation was limited to the replacement of the metal parts of aircraft. However, due to their high mechanical, thermal, and chemical strength, composites materials now constitute a majority of airframe structure of a military aircraft.
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Some of the major players operating in the global biocomposites market are Meshlin Composites ZRT, Alpas SRL, MCG Bio Composites LLC, Trex Company Inc., Flexform Technologies, Jelu-Werk J. Ehrler GmbH & Co. Kg, Green Bay Decking LLC, Universal Forest Products Inc., Fiberon LLC, and Tecnaro GmbH.
GLOBAL BIOCOMPOSITES MARKET SEGMENTATION
By Type
Structural
Non-Structural
By Fiber Type
Wood-Plastic Composites (WPC)
Natural Fiber Composites (NFC)
By Application
Construction
Automotive
Consumer Goods
Aerospace
Packaging
Medical
Others
By Geography
North America
U.S.
Canada
Europe
Germany
U.K.
Russia
France
Rest of Europe
APAC
China
India
Japan
Philippines
Rest of APAC
Rest of the World (RoW)
Brazil
Saudi Arabia
South Africa
Others
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