Biocomposites Industry 2022-2026

The global biocomposites market size is projected to grow from USD 24.4 billion in 2021 to USD 51.2 billion by 2021, at a CAGR of 16.0% between 2021 and 2026.

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The report provides a comprehensive analysis of company profiles listed below:
• UPM (Finland),
• Trex Company (US),
• Fiberon LLC (US),
• FlexForm Technologies (US),
• Universal Forest Products, Inc. (US),
• Nanjing Jufeng Advanced Materials Co., Ltd (China),
• Meshlin Composites ZRT (Hungary),
• Tecnaro GmbH (Germany)

"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 CAFÉ, EU Norms, and BS-IV.

"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.

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Competitive Landscape of Biocomposites Market:
1 Introduction
2 Market Share Analysis
3 Market Ranking
4 Market Evaluation Framework
5 Revenue Analysis Of Top Market Players
6 Company Evaluation Matrix
6.1 Star
6.2 Pervasive
6.3 Participants
6.4 Emerging Leaders
6.5 Strength Of Product Portfolio
6.6 Business Strategy Excellence
7 Small And Medium-Sized Enterprises (Sme) Evaluation Matrix
8 Start-Up/ Small And Medium-Sized Enterprises (Sme) Evaluation Matrix
8.1 Progressive Companies
8.2 Responsive Companies
8.3 Dynamic Companies
8.4 Starting Blocks

Research Coverage:
This report covers the global biocomposites market and forecasts the market size until 2026. The report includes the market segmentation - Fiber Type (Wood Fiber Composites, Non-wood Fiber Composites), Polymer Type( Natural Polymer composites, Synthetic polymer composites), Product (LayHybrid composites, Green composites), End-use Industry (Building & Construction, Transportation, Consumer goods, and Others) and Region (Europe, North America, Asia Pacific, Latin America, and Middle East & Africa). Porter's Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, are discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global biocomposites market.

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