Global Biocomposites Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026

MarketResearch.biz delivers in-depth insights on the global biocomposites market in its upcoming report titled, “Global Biocomposites Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global biocomposites market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global biocomposites market report has been segmented on the basis of fiber type, polymer type, product type, end-use industry, and region.

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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Biocomposites are eco-friendly biocompatible materials produced using reinforced natural fibers and biopolymer matrix.  The natural fiber is obtained from plants and cellulose. Bio-based materials are light weight, offer damping and impact absorption, and some health benefits owing to presence of natural fibers.  Jute, hemp, and flax are common natural fibers that are reinforced in biocomposites.

Biocomposites have lower environmental impact as compared to glass fiber which is a key factor driving growth of the global biocomposites market. In addition, low energy consumption while production, reduced CO₂ emission, and recyclability are properties of biocomposites, which is another factor further boosting demand for biocomposites across the globe. Moreover, government regulations towards use of eco-friendly and recyclable products across the globe is another factor expected to further drive growth of the global market to a significant extent over the forecast period.

Despite various advantages over glass fiber, natural fiber has low strength, which is a key factor restraining growth of the global biocomposites market. In addition, fluctuating raw material costs is another factor hampering growth of the global market. The current trend observed in the market is increasing adoption of biocomposite materials from automotive, construction, and consumer electronics sector.

The North America market accounts for significant revenue share in the global biocomposites market. The Europe biocomposites market is expected to witness considerable growth and is expected to register a CAGR of X.X%. Government initiatives in countries in Europe towards banning non-recyclable plastic is a factor that is supporting growth of the Europe biocomposites market. The Asia Pacific biocomposites market is expected to witness highest growth and is projected to register a CAGR of XX.X% over the next 10 years. This growth can be attributed to increasing adoption of biocomposite material from construction sector coupled with increasing construction projects in countries such as India, China, South Korea in this region.

Global biocomposites market segmentation:

Segmentation on the basis of fiber type:

• Wood Fiber Composite
• Non-wood Fiber Composite

Segmentation on the basis of polymer type:

• Natural Polymer
• Synthetic Polymer

Segmentation on the basis of product type:

• Green Biocomposites
• Hybrid Biocomposites

Segmentation on the basis of end-use industry:

• Transportation
• Building and construction
• Consumer goods
• Electrical & electronics
• Others

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa