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Biocomposites Market

Biocomposites Market By Fiber Type: (Wood Fiber Composites, Non-wood Fiber Composites) By Polymer Type: (Natural Polymer Composites, Synthetic Polymer Composites) By Product: ( Hybrid Biocomposites, Green Biocomposites) By End-use Industries: (Building & Construction, Transportation, Consumer Goods, Others), by Regions and Global Forecast 2022-2028

Report Id: SNS/C&M/1799 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Biocomposites Market Size was valued at USD1.5 billion in 2021, and expected to reach USD 2.13 billion by 2028, and grow at a CAGR of 4.5 % over the forecast period 2022-2028.  Biocomposites are composite materials made from ordinary fibres such as wood and non-wood fibres, as well as polymer resin. Because of its environmentally favourable properties, their use in various areas is growing. They're being used as a replacement for plastic composites with great success. Environmental rules that are stricter are also favouring their use. Because of the increased usage of forests for commercial purposes, biocomposites made from wood fibre are becoming more popular. Wood fibres are used to make wood plastic composites. Due to the growing demand for 120 percent biodegradable products, the use of distinctive polymer is also increasing. Biodegradable things have a lot of appeal in developed countries like North America and Europe. The low weight and high strength of these composites are the key reasons for their selection, since they allow for reduced fuel consumption and increased acceleration in transportation. Biocomposites are also thermal insulators, making them useful in situations where fire and blast protection are required.

Biocomposites Market

Market Dynamics:

Drivers:

  • Government Regulations Governing the Use of Eco-Friendly Products

  • When compared to glass fibres, this is a safer option.

  • Recyclability

  • Government Stimulus Packages to Drive Biocomposites Market

Restraints:

  • In comparison to glass fibres, it has a low strength.

  • Raw material costs, availability, and quality are all subject to change.

  • COVID-19 has resulted in lower demand, lower capacity utilisation, and a liquidity crunch.

Opportunity:

  • Economies of Scale and Price Reduction Possibilities

  • Government Regulations Drive Increased Market Penetration in the Automotive Interior Segment

  • Packaging Industry Opportunities

Challenge:

  • Maintaining Mechanical Performance and Manufacturing Process Consistency

  • Glass Fiber and Carbon Fiber Predominance in the Composites Industry

  • Overcoming Supply Chain Bottlenecks Caused by the COVID-19 Pandemic

Impact of Covid-19:

The worldwide Biocomposites market was negatively affected by Covid-19. During the pandemic, demand from major end-user industries such as packaging, construction, and automotive decreased, causing the growth rate to slow. Restrictions aimed at preventing viral transmission slowed production and affected the supply chain. However, with the global removal of regulations, the market is catching up to its earlier growth rate.

Key players:

Lingrove, LLC (U.S.), Green Dot Holding LLC (U.S.), Yixing, MCG Biocomposites, LLC (U.S.), Bcomp Ltd.(Switzerland),Hualong New Material Lumber Co. Ltd. (China), Anhui Guofeng Wood-Plastic Composite Co., Ltd. (China),B.COMPOSITES PVT.LTD. (India), Advanced Environmental Recycling Technologies, Inc.(U.S.),  Nanjing Xuha Sundi New Building Materials, Ltd. (China)

Market Segmentation:

By Fiber Type:

  • Wood Fiber Composites

  • Non-wood Fiber Composites

By Polymer Type:

  • Natural Polymer Composites

  • Synthetic Polymer Composites

By Product:

  • Hybrid Biocomposites

  • Green Biocomposites

By End-Use Industries:

  • Building & Construction

  • Transportation

  • Consumer Goods

  • Others

Bio-composites Market

Regional Analysis:

Asia-Pacific is the worldwide Biocomposites industry's fastest-growing regional market. The main growth drivers in this region are rapid economic growth and infrastructure development. Furthermore, rising car sales and the expansion of the automotive industry in China, India, Japan, and South Korea are driving up demand for Biocomposites. Increased awareness of Biocomposites' environmental benefits, combined with rising literacy rates, will propel market expansion.

The North American Biocomposites market has the second greatest market share in the world. The biggest demand-generating industries are aircraft, construction, and automobiles. The rapidly expanding aircraft manufacturing business, as well as the electric vehicle industry, are driving up demand for Biocomposites in this region. Europe, which has a strong vehicle and aircraft manufacturing base, controls a large portion of the worldwide Biocomposites industry.In this area, stricter rules about the environment are making it easy for the Biocomposites market to grow.  The desire for exquisite high-end commodities in Latin America and the Middle East is also a booming market for Biocomposites.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Biocomposites Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 1.5 Billion
Market Size by 2028 US$ 2.13 Billion
CAGR CAGR of 4.5% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Fiber Type: (Wood Fiber Composites, Non-wood Fiber Composites)
• By Polymer Type: (Natural Polymer Composites, Synthetic Polymer Composites)
• By Product: ( Hybrid Biocomposites, Green Biocomposites)
• By End-use Industries: (Building & Construction, Transportation, Consumer Goods, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Lingrove, LLC (U.S.), Green Dot Holding LLC (U.S.), Yixing, MCG Biocomposites, LLC (U.S.), Bcomp Ltd.(Switzerland),Hualong New Material Lumber Co. Ltd. (China), Anhui Guofeng Wood-Plastic Composite Co., Ltd. (China),B.COMPOSITES PVT.LTD. (India), Advanced Environmental Recycling Technologies, Inc.(U.S.),  Nanjing Xuha Sundi New Building Materials, Ltd. (China)
DRIVERS • Government Regulations Governing the Use of Eco-Friendly Products
• When compared to glass fibres, this is a safer option.
• Recyclability
RESTRAINTS • In comparison to glass fibres, it has a low strength.
• Raw material costs, availability, and quality are all subject to change.
• COVID-19 has resulted in lower demand, lower capacity utilisation, and a liquidity crunch.


Frequently Asked Questions (FAQ) :

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

 

Ans: The worldwide Biocomposites market was negatively affected by Covid-19. During the pandemic, demand from major end-user industries such as packaging, construction, and automotive decreased, causing the growth rate to slow. Restrictions aimed at preventing viral transmission slowed production and affected the supply chain. However, with the global removal of regulations, the market is catching up to its earlier growth rate.

Ans: Maintaining Mechanical Performance and Manufacturing Process Consistency, Glass Fiber and Carbon Fiber Predominance in the Composites Industry and Overcoming Supply Chain Bottlenecks Caused by the COVID-19 Pandemic are the challenges faced by the Biocomposites Market.

Ans: Biocomposites are composite materials made from ordinary fibres such as wood and non-wood fibres, as well as polymer resin.

 

Ans: Biocomposites Market Size was valued at USD1.5 billion in 2021, and expected to reach USD 2.13 billion by 2028, and grow at a CAGR of 4.5 % over the forecast period 2022-2028.

 


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8.Biocomposites Market Segment, By Fiber Type:

8.1 Wood Fiber Composites

8.2 Non-wood Fiber Composites

 

9.Biocomposites Market Segment, By Polymer Type:

9.1 Natural Polymer Composites

9.2 Synthetic Polymer Composites

 

10.Biocomposites Market Segment, By Product:

10.1 Hybrid Biocomposites

10.2 Green Biocomposites

 

11.Biocomposites Market Segment, By End-use Industries:

11.1 Building & Construction

11.2 Transportation

11.3 Consumer Goods

11.4 Others

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12. 6.1 Brazil

12.6.2 Argentina

12. 6.3 Rest of Latin America

 

13. Company Profile

13.1  Lingrove, LLC (U.S.)

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Green Dot Holding LLC (U.S.), Yixing

13.3 MCG Biocomposites, LLC (U.S.)

13.4 Bcomp Ltd.(Switzerland)

13.5 Hualong New Material Lumber Co. Ltd. (China)

13.6 Anhui Guofeng Wood-Plastic Composite Co., Ltd. (China)

13.7 Nanjing Xuha Sundi New Building Materials , Ltd. (China)

13.8 B.COMPOSITES PVT.LTD. (India)

13.9 Advanced Environmental Recycling Technologies, Inc.(U.S.)

 

14.Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share analysis

14.3 Recent Developments

 

15. Conclusion

 

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Secondary Research

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