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Global Biocomposites Market 2017 - 2025: Industry Size, Share, Growth, Forecasts
Biocomposites are composite materials comprising resins and reinforced natural fibers. Reinforcing materials, which are in the form of fibers, sheets, or particles, are ingrained in the resin phase. The resins generated are derivatives of polymer, either renewable or non-renewable. They play an important role in protecting fibers from environmental degradation and mechanical damage. They also hold the fibers together and help transfer loads on it. Natural fibers derived from crops, waste paper, recycled wood, and regenerated cellulose or their byproducts are the primary components used for the generation of biocomposites. Biocomposites possess low density, resulting in higher tensile strength and stiffness with wide range of applications.
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The biocomposites market is majorly driven by the increase in concerns about the environment. Depletion of natural resources such as crude oil and focus on reducing environmental pollution are other factors boosting the biocomposites market. Implementation of government regulations on the usage of environmentally-friendly products and safety & recyclable characteristics of biocomposites act as drivers of the market. Rise in demand for non-toxic and biodegradable materials also offers lucrative growth opportunities to the biocomposites market. Rise in usage of moisture & thermal resistant materials in the building & construction end-use industry is anticipated to propel the market for biocomposites. However, availability and quality of raw materials along with fluctuating in cost are likely to hamper market growth.
Based on fiber type, the biocomposites market can be segmented into wood fiber composites and non-wood composites. Either recycled or non-recycled, wood fiber composites are made out of hard wood or soft wood usually in the form of newspapers and magazine fibers. Non-wood composites comprise flax, jute, hemp, kenaf, sisal, or coir depending upon the application. Demand for non-wood fibers is high due to their physical and mechanical properties.
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In terms of product type, the biocomposites market can be divided into hybrid biocomposites and green composites. Based upon different types of fibers embedded into a single matrix, hybrid composites can be made out of synthetic or natural fibers and can be randomly combined. Green composites are formed through a combination of natural fibers with biodegradable resins. They can be easily disposed without affecting the environment cycle due to their degradable and sustainable properties.
Based on polymer type, the biocomposites market can be divided into natural polymers and synthetic polymers. Natural polymers include polyhydroxyalkanoate (PHA) and polylactic acid (PLA). These are utilized for applications in packaging, molded goods, paper coatings, non-woven fabrics, adhesives, and films and performance additives. Synthetic polymers comprise epoxy and polypropylene (PP), which are employed in aerospace and automobile industries.
Based on end-use industry, the biocomposites market can be segregated into transportation, building & construction, consumer goods, and others (marine, sports & leisure goods, electrical & electronics, and aerospace). The transportation segment accounts for significant share of the biocomposites market due to lightweight, impact resistance and non-toxic features of biocomposites. The building & construction segment has been expanding owing to the rise in demand for lightweight, moisture resistant, and low maintenance products. Bio composites are also widely used in construction and marine sectors owing to their rigid and molding capabilities.
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In terms of geography, the biocomposites market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is anticipated to be the fastest growing market for biocomposites, due to the rapid industrialization and rise in demand in end-use industries such as transportation and building & construction in the region. North America and Europe hold key share, while Latin America and Middle East & Africa are projected to be the emerging hubs of the biocomposites market.
Prominent players operating in the global biocomposites market include FlexForm Technologies, TECNARO GmbH, Trex Company, Inc., Fiberon, LLC, JELU-WERK Josef Ehrler GmbH & Co. KG, and Meshlin Composites Zrt.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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