Global Biocomposites Market is expected to grow at a CAGR of 16.2% by 2027

From USD 24.7 billion in 2021, the global biocomposites market will grow to USD 52.3 billion by 2027. It will exhibit a 16.2% CAGR during the forecast period. The surge in demand for eco-friendly materials and continuous research to innovate lightweight materials owing to extensive adoption of biocomposites in several applications like construction, aerospace, automotive, etc. will accelerate the market growth of the biocomposites industry. Biocomposites have features like better thermal stability, low cost, low energy consumption while production, reduction of carbon dioxide emission, and biodegradable material that leads to significant traction in industry verticals.

There is an increasing demand for sustainable and green building materials and alternatives to plastic composites. As a result, biocomposites with environmentally favourable qualities have become popular building materials. Furthermore, stronger environmental regulations are likely to encourage market expansion.

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COVID-19 had a detrimental impact on biocomposites market demand around the world due to a decline in demand from numerous end-use sectors. The biggest and most immediate repercussions of the epidemic have been noticed in the building and construction industry, which is one of the largest end-use verticals for biocomposites. This has had a negative influence on biocomposites demand.

Global Biocomposites Market Segment Analysis

This section of the report provides a comprehensive analysis of segments and sub-segments and offers insight into the leading segment and anticipates segments having the fastest growth.

The Global Biocomposites Market is segregated based on:

By Fibre Type
• Wood Fibre Composites a
• Non-Wood Fibre Composites

By Polymer Type
• Natural Polymer Composites
• Synthetic Polymer Composites

By Product
• Hybrid Biocomposites
• Green Biocomposites

By Process Type
• Extrusion Molding Process
• Resin Transfer Molding Process Type
• Injection Molding Process Type
• Compression Molding Process Type
• Others

By End-Use
• Building & Construction
• Transportation
• Consumer Goods
• Others

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Competitor Landscape

Key advancements in the Global Biocomposites industry, as well as organic and inorganic growth approaches, are covered in the research. A number of companies are prioritising new launches, product approvals, and other organic growth tactics such as patents and events. Inorganic growth strategies in the market included acquisitions, partnerships, and collaborations. These efforts have paved the road for industry players to expand their business and client base. The industry players in the inspection management software market are expected to benefit from attractive growth prospects in the future. A list of a few businesses involved in the Global Biocomposites Market are provided below:

• UPM
• Trex Company, Inc.
• Fiberon
• FlexForm Technologies
• Nanjing Jufeng Advanced Materials Co., Ltd.
• Tecnaro GmbH
• Green Bay Decking
• UFP Industries, Inc.
• Meshlin Composites Zrt.

FAQ
• What are some of the key and distinguishing competencies of entrants and established firms in the industry we're looking at?
• Name some of the prominent industry players in the Report?
• What is the current market and market volume of the Global Biocomposites Market?
• What are the segments defined in the report?

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