Biocomposites Market Size Worth USD 90.89 Billion in 2030 | Leading Companies UPM, Fiberon, FlexForm Technologies etc.
The Global Biocomposites Market research report added by Emergen Research is an extensive study of the industry and includes a study of several factors that impact the growth of the market. The report is formulated by taking into consideration the government policies, market landscape, technologies, market risks, opportunities, and challenges faced by the market. The report further analyzes historical data, current and future market trends, recent technological developments, key competitors, and regional bifurcation. 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.
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.
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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.
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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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