Biocomposite is a material in which at least one of the raw materials used (fiber or polymer) is obtained from natural sources. Biocomposites are characterized by the fact that the petrochemical polymer is replaced by a polymer of vegetable origin and that the reinforcement is a natural fiber, such as flax, hemp, kenaf, jute and sisal.
New York, March 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Biocomposites Market by Fiber Type, Polymer Type, Product, End-Use Industries and Region – Global Forecast to 2026” – https://www.reportlinker.com/p05124689/?utm_source=GNW
Biocomposites are biodegradable and resistant to impact, moisture, mold and dimensional stability resulting in low maintenance cost and long product life cycle. These properties of biocomposites make them suitable for use in different end-use industries, such as transportation, sporting and leisure goods, medical, building and construction, consumer goods, electrical and power. ‘electronic.
However, the global COVID-19 pandemic forced manufacturers of automobiles, building and building materials, and consumer goods to shut down their operations, resulting in lower demand for biocomposites in 2020.
Wood fiber composites are the fastest growing type of biocomposite fiber in terms of value.
Wood fiber composites are the fastest growing fiber type, in terms of volume and value over the forecast years. These biocomposites are produced in the form of decking, railings, balusters, fences and others.
Wood fiber composites are less expensive than non-wood fiber composites. These are used in applications such as residential and commercial establishments, pool surrounds, observatory deck and piers.
These are some of the factors that are driving the demand for wood fiber composites over the forecast period.
Biocomposites based on natural polymers are the fastest growing type of polymer biocomposites, in terms of value.
Natural polymers are obtained from a variety of sources, including plants and recycled plastics. This is an emerging product, which should reduce dependence on petroleum polymers.
Natural polymers have the potential to increase their penetration in different end-use industries due to their favorable properties. The growing government focus on increasing the use of environmentally friendly products instead of petroleum-based products is a major driver for natural polymer-based composites.
Hybrid biocomposites are the fastest growing type of biocomposite product, in terms of value.
Hybrid composites product segment is the fastest growing product segment in the global biocomposites market in terms of value during the forecast period, supported by the strong demand for biocomposites across the globe. This high market share is attributed to their good fibre-polymer adhesion which results in low moisture absorption, high strength and dimensional stability.
Transportation is the fastest growing end-use industry for biocomposites, in terms of value.
The transportation end-use industry is estimated to account for the largest CAGR of the global biocomposites market. The demand for light and natural products translates into increased energy efficiency; it is expected to drive the growth of the biocomposites market.
An increase in the penetration of biocomposites is expected over the forecast period, as car manufacturers have to meet strict emission standards, such as CAFE, European standards and BS-IV. The global biocomposites market is therefore expected to register the highest CAGR in the transportation end-use industry between 2021 and 2026 compared to other end-use industries, such as building & construction and consumer goods. consumption. Production of biocomposite parts in various industries was halted due to COVID-19, in 2020
Asia-Pacific is the fastest growing market for biocomposites.
Asia-Pacific is expected to register the highest CAGR in terms of value in the global biocomposites market during the forecast period. Asia-Pacific dominated the biocomposites industry in 2020.
Biocomposite manufacturing companies have many opportunities in the Asia-Pacific market compared to their European and North American counterparts due to low cost labor and raw materials.
Due to COVID-19, composites producers and many companies have shut down their production sites in various countries, which has led to reduced demand for biocomposites, Asia-Pacific countries. Recovery in end-use industries with restoration of the supply chain would drive the demand for biocomposites over the forecast period.
This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories:
• By type of business: level 1: 40%, level 2: 33% and level 3: 27%
• By Designation – C Level – 50%, Director Level – 20% and Others – 30%
• By region: North America: 15%, Europe: 50%, Asia-Pacific (APAC): 20%, Latin America: 5%, Middle East and Africa (MEA): 10%,
The report provides a comprehensive analysis of the company profiles listed below:
• UPM (Finland),
• Trex Company (United States),
• Fiberon LLC (USA),
• FlexForm Technologies (United States),
• Universal Forest Products, Inc. (United States),
• Nanjing Jufeng Advanced Materials Co., Ltd (China),
• Meshlin Composites ZRT (Hungary),
• Tecnaro GmbH (Germany),
This report covers Global Biocomposites Market and forecasts Market Size till 2026, LayHybrid Composites, Green Composites), End-Use Industry (Building & Construction, Transportation, Consumer Goods and Others) and Region (Europe, Americas North, Asia-Pacific, Latin America, Middle East and Africa).
Porter’s five forces analysis along with drivers, restraints, opportunities and challenges are discussed in the report. It also provides company profiles and competitive strategies adopted by leading players in the global biocomposites market.
Key Benefits of Purchasing the Report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global biocomposites market comprehensively and provides the closest approximations to the overall market revenue and sub-segments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the Biocomposites market and provides them with insights on key market drivers, restraints, challenges, and opportunities.
3. This report will help the stakeholders to better understand the competitors and gain more information to improve their position in their businesses. The competitive landscape section includes competitor ecosystem, new product development, deal, and acquisitions.
Reasons to buy the report:
The report will assist market leaders/new entrants in this market by providing the closest approximations to the revenue of the overall Biocomposites market and sub-segments. This report will help stakeholders understand the competitive landscape, better understand and better position their businesses and market strategies. The report will also help stakeholders understand the pulse of the market and provide them with insights into key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05124689/?utm_source=GNW
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