Biocomposites Market To Generate USD 103.6 Billion by 2030

Biodegradable polymer serves as the matrix material in biocomposites, which typically also contain bio-fibers as reinforcing elements. Moreover, biocomposites have the following characteristics: low cost, low density, high toughness, acceptable specific strength properties, good thermal properties, ease of separation, improved energy recovery, and biodegradability.

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As per a report by P&S Intelligence, the biocomposites market is on track to reaching USD 103.6 billion by 2030. This is because more people are becoming aware of eco-friendly materials and because the government is taking steps to replace plastics with them. A further factor driving material demand is the car industry's growing desire to lighten and increase passenger safety.

In 2022, the automobile sector had a value-based market share of about 20%. In order to build fuel-efficient automobiles that fulfill regulatory criteria, including the Corporate Average Fuel Economy standards of 54.5 mpg in 2025 and the EU CO2 emission limits of 95 g/km, implemented in 2020, there is an increasing demand for lightweight materials.

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NFCs are frequently employed in car interior components such as windows, driver cabins, doors, and dashboards. On the other hand, WPCs are mostly used in the construction of seat bases, back shelf trims for the spare tire and trunk, headliners, and inside door trims.

As a result, practically all European and North American OEMs have included them in their ambitious goals to reduce weight in order to comply with stringent environmental laws. This is due to the rising use of these materials in vehicles.

Due to its fast industrialization, APAC also represented the greatest value share in the worldwide market. Essentially, the rising requirement for such materials from the automobile and consumer goods sectors is what is driving market expansion in the region.

The market is also expected to be driven by the growing need in the building and construction sector for materials that are biodegradable, non-toxic, moisture- and thermally-resistant.

Furthermore, APAC is developing into a hub for producers of biocomposite materials, and it is anticipated that it will record a strong need for such materials in the years to come. Additionally, these materials are widely used in cooling tower units to prevent moisture-related corrosion.

The research offers the size of the biocomposites market for the period 2017-2030.

Market Segmentation by Type
• Structural
• Non-Structural

Market Segmentation by Fiber Type
• Wood-Plastic Composites (WPCs)
• Natural Fiber Composites (NFCs)

Market Segmentation by Application
• Construction
• Automotive
• Consumer Goods
• Aerospace
• Packaging
• Medical
• Others

Market Segmentation by Geography
• North America Biocomposites Market
o By type
o By fiber type
o By application
o By country - U.S. and Canada
• Europe Biocomposites Market
o By type
o By fiber type
o By application
o By country - Germany, U.K., Russia, France, and Rest of Europe
• Asia-Pacific (APAC) Biocomposites Market
o By type
o By fiber type
o By application
o By country - China, India, Japan, and Rest of APAC
• Latin America (LATAM) Biocomposites Market
o By type
o By fiber type
o By application
o By country - Brazil, Mexico, and Rest of LATAM
• Middle East & Africa (MEA) Biocomposites Market
o By type
o By fiber type
o By application
o By country - Saudi Arabia, South Africa, and Rest of MEA

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