Dublin, March 14, 2022 (GLOBE NEWSWIRE) -- The "Biocomposites Market by Fiber Type (Wood Fiber and Non-wood Fiber), Polymer Type (Synthetic and Natural), Product (Hybrid and Green), End-use Industries (Building & Construction, Transportation, and Consumer Goods) and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global biocomposites market size is projected to grow from USD 24.4 billion in 2021 to USD 51.2 billion by 2026, at a CAGR of 16.0% between 2021 and 2026.
Wood fiber composites are the fastest-growing fiber type of biocomposites market in terms of value.
Wood fiber composites is the fastest-growing fiber type, in terms of both volume and value during forecasted years. These biocomposites are produced in the form of decking, railings, balusters, fences, and others. Wood fiber composites are less expensive than non-wood fiber composites. These are used in applications, such as residential, commercial establishments, pool-side area, observatory deck, and jetties. These are some of the factors driving the demand for wood fiber composites during the forecast period.
Natural-polymer based biocomposites is the fastest-growing polymer type of biocomposites, in terms of value.
Natural polymers are obtained from a variety of sources, including plants and recycled plastics. They are an emerging product, which is expected to decrease the dependency on petroleum polymers. Natural polymers have the potential to increase their penetration in different end-use industries due to their favorable properties. Increasing government focus on increasing the use of environmentally-friendly products instead of petroleum-based products is a major driver for natural polymer based composites.
Hybrid biocomposites is the fastest-growing product type of biocomposites, in terms of value.
The hybrid composites product segment is the fastest-growing product segment in the global biocomposites market in terms of value during the forecasted period, backed by the strong demand for biocomposites across the globe. This high market share is attributed to their good fiber-polymer adhesion that results in low moisture absorption, high strength, and dimensional stability.
Transportation is the fastest-growing end-use industry of biocomposites, in terms of value.
The transportation end-use industry is estimated to account for the largest CAGR of the global biocomposites market. The demand for lightweight, naturally sourced products is resulting in increased fuel efficiency; it is expected to drive the biocomposites market growth. An increase in the penetration of biocomposites is expected during the forecast period as automobile manufacturers have to meet stringent emission norms, such as CAFE, EU Norms, and BS-IV. The global biocomposites market is, therefore, projected to register the highest CAGR in the transportation end-use industry between 2021 and 2026 compared to other end-use industries, such as building & construction and consumer goods. The production of biocomposite parts across various industries was halted due to COVID-19, in 2020
Asia Pacific is the fastest-growing biocomposites market.
Asia Pacific is projected to register the highest CAGR in terms of value in the global biocomposites market during the forecast period. Asia Pacific dominated the biocomposites industry in 2020. The biocomposites manufacturing companies have ample opportunities in the Asia Pacific market in comparison to the European and North American counterparts owing to low-cost labor and raw materials.
Due to COVID-19, composites producers and numerous companies have halted their production sites across various countries that has led to reduced demand for biocomposites, Asia Pacific countries. The recovery in the end-use industries with restoration in the supply chain would drive the biocomposites demand during the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Biocomposites Market
4.2 Biocomposites Market, by End-Use Industry and Region, 2020
4.3 Biocomposites Market, by Fiber Type, 2020
4.4 Biocomposites Market, by Polymer Type, 2020
4.5 Biocomposites Market, by Product, 2020
4.6 Biocomposites Market Growth: Key Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Government Regulations Regarding Use of Environmentally- Friendly Products
5.2.1.2 Safer Compared to Glass Fibers
5.2.1.3 Recyclability
5.2.1.4 Government Stimulus Packages to Drive Biocomposites Market
5.2.2 Restraints
5.2.2.1 Relatively Low Strength as Compared to Glass Fibers
5.2.2.2 Fluctuating Cost, Availability, and Quality of Raw Materials
5.2.2.3 Lower Demand, Low-Capacity Utilization, and Liquidity Crunch Due to COVID-19
5.2.3 Opportunities
5.2.3.1 Possibility of Price Reduction with Economies of Scale
5.2.3.2 Increasing Market Penetration in Automotive Interior Segment Driven by Government Regulations
5.2.3.3 Opportunities in Packaging Industry
5.2.4 Challenges
5.2.4.1 Maintaining Consistency in Manufacturing Process and Mechanical Performance
5.2.4.2 Dominance of Glass Fiber and Carbon Fiber in Composites Industry
5.2.4.3 Overcoming Bottlenecks in Supply Chain Due to COVID-19 Pandemic
5.3 Industry Trends
5.4 Technology Analysis
5.5 Ecosystem: Biocomposites Market
5.6 Value Chain Analysis
5.6.1 Raw Materials
5.6.2 Intermediates
5.6.3 Molder
5.7 Supply Chain Analysis
5.8 Impact of COVID-19
5.8.1 Impact of COVID-19 on Automotive and Transportation Industries
5.8.2 Short-Term Strategies to Manage Cost Structure and Supply Chains
5.8.3 New Opportunities
5.9 Biocomposites Market: Optimistic, Pessimistic, and Realistic Scenarios
5.9.1 Optimistic Scenario
5.9.2 Pessimistic Scenario
5.9.3 Realistic Scenario
5.10 Pricing Analysis
5.11 Average Selling Price
5.12 Key Markets for Import/Export
5.13 Patent Analysis
5.14 Case Study Analysis
5.15 Tariff and Regulations
5.16 Trends and Disruptions Impacting Customers
6 Biocomposites Market, by Fiber Type
6.1 Introduction
6.2 Wood Fiber Composites
6.2.1 These Composites Are Used Mainly as Indoor and Outdoor Decking
6.2.2 Hardwood
6.2.3 Softwood
6.2.4 Wood Fiber Composites, by Region
6.3 Non-Wood Fiber Composites
6.3.1 Preferable Alternative to Glass, Carbon, and Synthetic Fiber Composites
6.3.2 Flax
6.3.3 Hemp
6.3.4 Jute
6.3.5 Others
6.3.6 Non-Wood Fiber Composites, by Region
7 Biocomposites Market, by Polymer Type
7.1 Introduction
7.2 Natural Polymer
7.2.1 Increasing Government Regulations Enabling Manufacturers to Adopt Natural Polymers for Various Applications
7.2.2 Polyhydroxyalkanoate (Pha)
7.2.3 Polylactic Acid (Pla)
7.2.4 Others
7.2.5 Natural Polymer-Based Biocomposites Market, by Region
7.3 Synthetic Polymer
7.3.1 Flame Retardant and Resistance to Moisture Properties Makes Them Favorable for Different End-Use Industries
7.3.2 Epoxy
7.3.3 Polypropylene (Pp)
7.3.4 Others
7.3.5 Synthetic Polymer-Based Biocomposites Market, by Region
8 Biocomposites Market, by Product
8.1 Introduction
8.2 Hybrid Biocomposites
8.2.1 New Additions in Industrial Manufacturing Driving Demand for Hybrid Biocomposites
8.2.2 Hybrid Biocomposites Market, by Region
8.3 Green Biocomposites
8.3.1 Growing Environmental Awareness Fuelling Adoption of Green Biocomposites
8.3.2 Green Biocomposites Market, by Region
9 Biocomposites Market, by End-Use Industry
9.1 Introduction
9.2 Transportation
9.2.1 Environmental Regulations Regarding Emission Standards Driving Demand for Biocomposites
9.2.2 Biocomposites Market Size in Transportation End-Use Industry, by Region
9.3 Building & Construction
9.3.1 Largest End-Use Industry of Biocomposites Market
9.3.2 Biocomposites Market Size in Building & Construction End-Use Industry, by Region
9.4 Consumer Goods
9.4.1 Increasing Adoption of Biocomposites to Manufacture Various Consumer Goods Driving Market
9.4.2 Biocomposites Market Size in Consumer Goods End-Use Industry, by Region
9.5 Others
9.5.1 Marine
9.5.2 Sports & Leisure Goods
9.5.3 Electrical & Electronics
9.5.4 Aerospace
9.5.5 Biocomposites Market Size in Other End-Use Industries, by Region
10 Biocomposites Market, by Region
11 Competitive Landscape
11.1 Introduction
11.2 Market Share Analysis
11.3 Market Ranking
11.4 Market Evaluation Framework
11.5 Revenue Analysis of Top Market Players
11.6 Company Evaluation Matrix
11.6.1 Star
11.6.2 Pervasive
11.6.3 Participants
11.6.4 Emerging Leaders
11.6.5 Strength of Product Portfolio
11.6.6 Business Strategy Excellence
11.7 Small and Medium-Sized Enterprises (Sme) Evaluation Matrix
11.8 Start-Up/ Small and Medium-Sized Enterprises (Sme) Evaluation Matrix
11.8.1 Progressive Companies
11.8.2 Responsive Companies
11.8.3 Dynamic Companies
11.8.4 Starting Blocks
12 Company Profiles
12.1 Key Companies
12.1.1 Trex Company, Inc.
12.1.2 Upm
12.1.3 Universal Forest Products, Inc.
12.1.4 Celanese Corporation
12.1.5 Daicel Corporation
12.1.6 Flexform Technologies
12.1.7 Sappi
12.1.8 Tecnaro Gmbh
12.1.9 Jelu-Werk J. Ehrler GmbH & Co. Kg
12.1.10 Green Bay Decking LLC
12.1.11 Eastman Chemical Company
12.1.12 Fiberon LLC
12.1.13 Meshlin Composites Zrt
12.1.14 Aztron Technologies
12.1.15 Huangshan Huasu New Material Science & Technology Co. Ltd.
12.1.16 Newtechwood Ltd.
12.1.17 Nanjing Jufeng Advanced Materials Co. Ltd.
12.2 Other Key Players
12.2.1 Advanced Environmental Recycling Technologies, Inc.
12.2.2 Mcg Biocomposites LLC
12.2.3 A B Composites Pvt. Ltd.
12.2.4 Bcomp Ltd.
12.2.5 Tts (Tekle Technical Services), Inc.
12.2.6 Green Dot Holding LLC
12.2.7 Lingrove
12.2.8 Polyvlies Franz Beyer GmbH & Co. Kg
12.2.9 Weyerhaeuser
12.2.10 Tamko Building Products Inc.
12.2.11 Winrigo
12.2.12 Yixing Hualong New Material Lumber Co. Ltd.
12.2.13 Anhui Huiyun Wood Plastic Composite Co. Ltd.
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/1i0x2z
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