Biocomposites Market Prospects and Growth Assessment

Biocomposites are materials formed by reinforcement of natural fibers and matrix (resin). The interest in biocomposites is rapidly growing among end use industries as applications in fundamental research, packaging, construction, military applications, aerospace, railway coaches, and automobiles due to many potential benefits such as ease in availability, high specific strength, light weight, biodegradability, recyclability, cheaper in cost, and renewability. The biocomposites are being highly used in the automotive industry for the manufacturing of interior panels. As biocomposites are eco-friendly, they are replacing polymer composites in various applications at a high price.

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GROWTH DRIVERS AND CHALLENGES
The increasing use of sustainable building materials has aided the biocomposites market growth. The construction industry is one of the firmest emergent sectors in rapid urbanization owing to the growing population in urban areas. This urbanization makes the industry the most astonishing consumer of materials, most of them from non-renewable resources. According to the report from the Global Alliance for Building and Construction, the construction sector is one of the most harmful to the environment

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