Report Scope & Overview:
The Biocomposites Market Size was valued at USD 1.56 billion in 2022, and expected to reach USD 2.22 billion by 2030, and grow at a CAGR of 4.5% over the forecast period 2023-2030. 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.
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
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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
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 1.56 Billion |
| Market Size by 2030 | US$ 2.22 Billion |
| CAGR | CAGR of 4.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| 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. |
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
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
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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