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Bio composites Market By Fiber (Wood Fiber and Non-Wood Fiber), By Polymer (Natural and Synthetic), By Product (Green and Hybrid), By End-Use (Consumer Goods, Building & Construction and Transportation) & By Region (Latin America, North America, Asia Pacific, Europe, Middle East and Africa) - Industry Analysis, Size, Share, Growth, Trends, and Forecast (2022–2027)

Published: January, 2022
ID: 8207
Pages: 175
Formats: report pdf report excel report power bi report ppt

Biocomposites Market Size, Share & Trends (2022 - 2027)

Global Biocomposites Market is valued at USD 19.6 billion in 2021 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 16.2 % during the forecast period to become a USD 38.07 billion market in 2026.

Biocomposites are materials made with the combination of natural fibers with a polymer. The fibers are embedded in the polymer, and the compound structure is lightweight and very strong. For Biocomposites, the polymer used can be natural or artificial.

BIOCOMPOSITES MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2021

Forecast Period

2022 - 2027

CAGR

16.2%

Segments Covered

By Type, By the kind, By the End-use Industry, On the basis of region 

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

FlexForm Technologies (US), Trex Company, Inc. (the US), Fiberon LLC (US), Green Bay Decking (US), Universal Forest Products, Inc. (the US), Meshlin Composites ZRT (Hungary), Tecnaro GmbH (Germany), UPM (Finland), Jelu-Werk J. Ehrler GmbH & Co. KG (Germany), Nanjing Jufeng Advanced Materials Co., Ltd (China).

Biocomposites Market segmentation

By Type:

On the basis of the type of fiber used in the making of the composite, the market can be segregated into a block of wood and nonwood fibers. Wood, when broken down into little chips and chemically digested to remove the lignin, gives rise to fine cellulose fibers. These can be added to the polymer to make a composite. Non-wood fibers include flax, jute, coconut coir, etc. These are processed to make them suitable for further usage. Wood fiber composites can be used in construction while the non-wood fiber composites can be used in packing, automobiles, etc. Between the years 2018-2023, the non-wood fiber Biocomposites are expected to lead the market.

By kind:

By the kind of Polymer used the market is classified into natural and synthetic. Many plant and tree species generate latex and rubber, but most of this is not viable for commercial usage. Most of the commercially used natural rubber is tapped from the trees with the scientific name Hevea brasiliensis. Malaysia and Indonesia are the leading producers of natural rubber. Most synthetic polymers are made from petroleum-derived products and hence are not carbon neutral.

The natural polymer segment is increasingly becoming popular among consumers and the trend is expected to remain unchanged during the forecast period. By the composite, the market is segmented into green and hybrid. Green is fully natural Biocomposites while hybrid is the composites with synthetic polymers. Both the markets are projected to grow and manufacturers seem to have an increasing number of applications for each of them.

By the End-use Industry:

By end-use, the market is divided into Consumer Goods, Building & Construction, and Transportation. The construction sector uses these composites instead of the traditional wood for roofs and decks, while the transportation sector uses them to create the interior of vehicles. The transportation sector is anticipated to lead the market during the analysis period of 2020-2025.

On the basis of Region:

  • North America
  • Europe 
  • Asia Pacific 
  • Latin America 
  • The Middle East and Africa 

Biocomposites Market key players:

  1. FlexForm Technologies (US)
  2. Trex Company, Inc. (the US)
  3. Fiberon LLC (US)
  4. Green Bay Decking (US)
  5. Universal Forest Products, Inc. (the US)
  6. Meshlin Composites ZRT (Hungary)
  7. Tecnaro GmbH (Germany)
  8. UPM (Finland)
  9. Jelu-Werk J. Ehrler GmbH & Co. KG (Germany)
  10. Nanjing Jufeng Advanced Materials Co., Ltd (China)

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