Biocomposites Market Size Worth USD 90.89 Billion in 2030 | Emergen Study

June 21 23:11 2022
Biocomposites Market Size Worth USD 90.89 Billion in 2030 | Emergen Study
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Increasing forest and wood industries and rising demand for more eco-friendly materials are key factors driving biocomposites market revenue growth

 

The global biocomposites market size reached USD 24.40 Billion in 2021 and is expected to register a revenue CAGR of 15.7% during the forecast period, according to latest analysis by Emergen Research. Global shift toward bio-based circular economy is a key factor driving market revenue growth.

The latest report is updated with the impact analysis of the current COVID-19 pandemic on the market. The rapidly changing dynamics of the market and current and future growth potential of the market are covered in the report. The report offers crucial information about the initial and future assessment of the impact of the COVID-19 crisis on the overall market.

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The report covers historical revenue and sales volume, and the data is further validated to provide a forecast market estimation of the market size and sales numbers for key regions along with types and end-user applications. Moreover, the report also includes macroeconomic factors and regulatory policies pertaining to the Biocomposites industry for evaluation and predictive analysis.

Rising demand for biocomposites from the healthcare industry is another major contributor to market revenue growth. Increasing demand is primarily due to the diversity of polymers and the use of biocomposites in bone tissue engineering. Biocomposites are versatile and have various material properties. The materials are usually formed by combination of two or more distinct constituent materials and result in a new material with improved performance. Biocomposites are designed to mimic the hybrid architecture of native bone while also facilitating mechanically compatible and osteoinductive scaffolds for bone tissue engineering applications.

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with the product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share.

The major companies studied in the report include:

UPM, Trex Company, Fiberon, FlexForm Technologies, Nanjing Jufeng Advanced Materials Co., Ltd., Meshlin Composites Zrt, Tecnaro GmbH, HempFlax Group B.V., Trifilon, Fasal Wood GmbH, Addiplast Group, and Transmare Compounding.

Some Key Highlights From the Report

  • Roselle Fiber segment accounted for moderate revenue share in 2021. Increasing demand from the automotive industry and significant investments by major market players in expanding existing manufacturing capabilities are major factors driving this segment’s growth. In addition, increasing demand can also be attributed to their highly specific material properties. For instance, roselle fiber exhibits excellent thermo-mechanical properties and has a high strength-to-weight ratio. Its corrosion inhibiting properties play a major role in automotive and aerospace applications. Moreover, due to high compressive strength and hardness value, the materials are ideal for structural applications.
  • Polypropylene (PP) segment accounted for a significantly robust revenue share in 2021. Increasing demand from the packaging industry is a major factor driving revenue growth of the segment. PP is a lightweight material with a variety of superior properties. For instance, PP is resistant to a variety of chemical solvents and acids. This polymer material also has high tensile strength and low moisture resistance. As a result, major packaging companies are making significant investments in these materials and the materials are being incorporated in food and beverage packaging. Moreover, PP reduces the possibility of food deterioration and enhances shelf life.
  • Automotive segment accounted for a significantly large revenue share in 2021. Increasing focus on reducing greenhouse gas emissions and scarcity of petroleum are key factors driving demand for lightweight raw materials and products and is supporting revenue growth of the automotive segment. Biocomposites materials with properties such as high strength and low weight make these ideal for a variety of applications in the automotive industry. In addition, it enables automotive manufacturers to effectively address the aforementioned challenges. Biocomposite materials are primarily used in the production of non-structural interior components in vehicles such as wood trim, seat fillers, seat backs, headliners, interior panels, dashboards, and thermoacoustic insulation. Biocomposites used in automotive industry mainly constitute natural fibers extracted from flax, hemp, jute, and sisal. This is due to antimicrobial properties and extended durability.

The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

Regional Segmentation:

Based on the geographical spread, the Biocomposites industry is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis of the Biocomposites market provides an insight into the regions expected to hold the largest share in the market. Additionally, the report provides valuable data about distribution, production, consumption patterns, export/import, and demand and supply ratio.

To know more about the report, visit @ https://www.emergenresearch.com/industry-report/biocomposites-market

Along with these details, the report also covers the segmentation of the market based on types, applications, end-user industry, and others. Analysis of each market segment, along with projections up to 2027, is offered in the report. The report includes profitability, gross margins, global demand, sales volume, and growth prospects of each market segment.

Based on Type, the market is segmented into:

  • Fiber Type Outlook (Revenue, USD Billion; 2019-2030)
    • Roselle Fiber
    • Kenaf Fiber
    • Flax Fiber
    • Ramie Fiber
    • Others
  • Polymer Type Outlook (Revenue, USD Billion; 2019-2030)
    • PP
    • PE
    • PA
    • PLA
    • Others

Based on Applications, the market is segmented into:

  • End-Use Outlook (Revenue, USD Billion; 2019-2030)
    • Building & Construction
    • Automotive
    • Medical
    • Consumer Goods
    • Others

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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