The Global Biocomposites Market Is Projected To Reach $8,473.4 Million By 2023

iocomposites are structural materials made from renewable resources, that biodegrade in an anaerobic environment after their useful service life, to produce a fuel or feedstock that are degradable and sustainable. These composites can be easily disposed without harming the environment. Owing to their durability, these are mainly used to increase the shelf-life of products.

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The NFCs are emerging as lightweight and environmentally superior alternatives to glass as well as carbon fibers. These are environmentally superior to glass fiber composites as: production of natural fiber causes lower environmental impacts compared to glass fiber production, natural fibers have higher fiber content and reduce more polluting base polymer content, the lightweight NFCs improve fuel efficiency and reduce GHG emissions, especially in auto applications, and end of life incineration of natural fibers results in recovered energy and carbon credit. Hence, these advantages of NFCs surge its demand globally, thus accelerating the biocomposites market growth.

Traditionally, plastic composites were highly used in various end-use industries. However, owing to the environmental impacts of these composites (carbon fiber and glass fiber) such as greenhouse gas (GHG) emissions, air pollution, and landfill issues, researchers and scientists shifted toward development of composites derived from natural sources. Natural composites have several advantages over synthetic composites such as lower cost, lower environmental impacts, and higher fiber content that results in reducing pollution. Hence, due to the cheap, recyclable, and biodegradable nature, consumer preference is changing from plastic composites to eco-friendly composites, thus forming the major trend in the biocomposites market.

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Regionally, APAC was the largest biocomposites market, accounting for more than 35.0% revenue share in 2017. The major drivers for regional market growth are increasing adoption for lightweight materials in the aerospace and automotive industry, growing demand for corrosion and chemical resistance materials in construction industry, pipe and tank industry, and electrical resistivity and high flame-retardant materials demand in electrical and electronics industry.

Glass fiber is still in use, owing to its properties, such as easy availability, low cost, and durability, derives its demand in many industries such as aerospace, automobile, construction, electrical insulation, and telecommunication. Apart from glass fiber, carbon fiber, also called as graphite fiber, is a strong and lightweight polymer, which has high stiffness, high tensile strength, high chemical-resistance, and low thermal expansion. These properties surge carbon fiber demand in aerospace, military, automotive, and recreational applications. Thus, availability of alternatives to bio-based composites, such as glass fiber and carbon fiber, is the major restraining factor in the growth of the biocomposites market.

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