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Bio-Composites Market Size to Reach USD 90.79 billion by 2029, Trends, Growth Strategies, Opportunities and Forecast
Bio-Composites Market Overview:Bio-composites are defined as degradable, renewable, non-abrasive, and non-toxic, with comparable properties to those of synthetic fiber composites. It is utilized in various fields with numerous applications. They are biocompatible and eco-friendly composites. Bio-composites involve a huge variety of organic and inorganic components, which are natural and synthetic polymers, sugars, polysaccharides, proteins, metals, ceramics, and nanocarbon. Bio-composites exist in numerous forms such as films, membranes, moldings, coatings, particles, fibers, and foams.
The global Bio-Composites market size is projected to grow from USD 23.8 billion in 2020 to USD 90.79 billion by 2029, at a CAGR of 16.0% during the forecast period 2022-2029.
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The Global Biocomposites Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Bio-Composites Market Key Players
The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are Alpas SRL, Jelu-Werk Josef Ehrler GmbH, MCG Bio-Composites s, UFP Industries (previously Universal Forest Products), Trex Company, Meshlin Composites, UPM, Tecnaro, Fiberon (Fortune Brands Home), and FlexForm Technologies and Others
Recent Developments
In Feb 2021, Lingrove, the San Francisco, USA, based biocomposite manufacturer has set its eyes on the automotive market with their flagship material - Ekoa® Surface. Originally developed as a lightweight alternative to rainforest wood for guitars. Lingrove's Ekoa Surfaces have 98% biobased content and they are Clean Air Gold certified said the Lingrove founder Mr. Joe Luttwak.
In December 2021, Deckorators, Inc., a subsidiary of Universal Forest Products, Inc., acquired Ultra Aluminum Manufacturing Inc. It is one of the prominent producers of aluminum railing, fencing, and gates.
In November 2021, Celanese Corporation collaborated with Mitsubishi Chemical Advanced Materials to develop recycling solutions along with maintaining product quality, performance, and consistency.
In March 2021, Fiberon LLC launched Wildwood composite cladding with excellent properties such as high durability, low maintenance, and efficient performance.
In October 2021, Trex Company, Inc. announced plans for its third production site in the US. This expansion will provide better access to customers to Trex Residential products, enabling the company's future growth.
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Bio-Composites Market Segmentation:
Bio-Composites Market by Fibre, 2020-2029, (USD Million) (Kilotons)
Wooden Fiber
Non-Wood Fiber
Bio-Composites Market by Polymer Type, 2020-2029, (USD Million) (Kilotons)
Synthetic
Natural
Bio-Composites Market By End User, 2020-2029, (USD Million) (Kilotons)
Building & Construction
Automotive
Consumer Goods
Growth Factors:
Increasing demand from the Bio-Composites industries
The growing use of Bio-Composites in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Bio-Composites Market
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Bio-Composites Market Regional Analysis
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Key Bio-Composites Market Trends
- The report identifies, determines, and forecasts the Global Bio-Composites Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Bio-Composites Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is expected to drive the Growth
- Rising Adoption of Market Segments in the Bio-Composites Growth
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Bio-Composites Market.
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