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Biocomposites Market Growth to be Driven by Emerging Trends | $73.58 Billion by 2029
Biocomposites Market
What is the Projected Market Size of the Biocomposites Industry?
There has been a significant growth in the biocomposites market in the recent past. The market, which stood at $33.92 billion in 2024, is projected to reach $39.4 billion by 2025, exhibiting a compound annual growth rate (CAGR) of 16.2%. Factors that have contributed to the growth during the historic period include environmental awareness, regulatory directives, decrease in carbon emissions, shifts in consumer preferences, and reduction in waste.
What Will Be the Size of the Biocomposites Market by 2029?
The size of the biocomposites market is projected to experience a swift increase in the coming years, escalating to $73.58 billion in 2029 with a compound annual growth rate (CAGR) of 16.9%. The predicted expansion during the forecast period can be ascribed to factors like sustainable supply chains, government incentives, eco-friendly packaging, diverse application in emerging markets, and biodegradable biocomposites. The forecast period is expected to see major trends such as innovative technology, ecologically sustainable materials, sophisticated manufacturing processes, high-performing biocomposites, and eco-conscious construction materials.
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What Are the Key Drivers Accelerating Growth in the Biocomposites Market?
Anticipated expansion of the biocomposites market is primarily due to escalating apprehensions regarding the environment. These apprehensions pertains to ecological issues that disrupt human activities in the biophysical environment, leading to detrimental environmental decay. Biocomposites leave a lesser ecological footprint and they are significantly safer for humans as well as other living organisms. Moreover, the majority of biocomposites can be recycled or reused. To illustrate, as stated by the Department for Environment, Food, and Rural Affairs in April 2024, this UK government department, responsible for environmental improvement and protection, reported that the urban concentrations of ozone (O3) had risen to 66.8 μg/m3 in 2023, experiencing a 3% growth from 2022. Consequently, these surging environmental concerns are catalysing the advancement of the biocomposites sector.
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How Is the Biocomposites Market Segmented by Type, Application, and Region?
The biocomposites market covered in this report is segmented -
1) By Product: Hybrid Biocomposites, Green Biocomposites
2) By Polymer: Natural Polymer Composites, Synthetic Polymer Composites
3) By Fiber Type: Wood Fiber Composites, Non-Wood Fiber Composites
4) By End-Use Industries: Building And Construction, Transportation, Consumer Goods, Others End-Use Industries
Subsegments:
1) By Hybrid Biocomposites: Reinforced Hybrid Biocomposites, Matrix Hybrid Biocomposites
2) By Green Biocomposites: Plant Fiber-Reinforced Biocomposites, Natural Fiber Biocomposites, Biodegradable Polymer Composites
What Are the Key Trends Driving Growth in the Biocomposites Market?
A major trend seeing increasing traction in the agricultural textiles market is technological advancement. Major firms in this space are embracing new technologies like the fully biocomposite material Tepex, which is made from continuous fiber-reinforced thermoplastic composites. To illustrate, Biocomposites, a manufacturing company from the UK, launched the innovative medical product STIMULAN VG in February 2024. This calcium matrix antibiotic carrier, blended with vancomycin and gentamicin, is designed to deliver antibiotic directly to infection sites. The localized delivery approach is designed to enhance the efficiency of the antibiotics while minimizing the chances of systemic side effects and antibiotic resistance. By focusing the medication where it is most needed, STIMULAN VG marks a significant leap in infection control, especially in surgical, orthopedic, and agricultural settings.
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Who Are the Leading Companies Driving Growth in the Biocomposites Market?
Major companies operating in the biocomposites market include UPM, Trex Company Inc, Fiberon LLC, FlexForm Technologies, Universal Forest Products Inc, JELU-WERK J. Ehrler GmbH & Co. KG, Tecnaro GmbH, Newtechwood, Meshlin Composites ZRT, Green Bay Decking LLC, AlPAS Srl, Nanjing Jufeng Advanced Materials Co, Arakawa Chemical Industries, Zeller+Gmelin Corporation, Hydrite Chemical Co., Rahn AG, Aal Chem, SICPA Holding SA, Fuzion Technologies Inc., Rütgers Organics GmbH, Eternal Materials Co. Ltd., Imerys, Technovinyl Polymers India Ltd., Aapico Hitech Public Company Limited, Amorim, BioLogic, Advanced Compounding, Stora Enso, Sappi Ltd., GreenCore Composites
Which Is the Leading Region in the Global Biocomposites Market?
Asia-Pacific was the largest region in the biocomposites market in 2024. North America was the second-largest region in the biocomposites market share. The regions covered in the biocomposites market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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