Biocomposites Market Size, Share, Industry Trends Report, 2018-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Biocomposites Market


The global biocomposites market size was estimated at USD 15.99 billion in 2016 and is expected to register a CAGR of 12.5% by 2025. Rising awareness among people regarding eco-friendly materials and government efforts to replace plastics with biodegradable and environmentally favorable alternatives are major trends responsible for market growth. Additionally, rising demand in the automotive sector to increase safety of passengers and reduce the weight of a vehicle is expected spur market demand.  
 
Lightweight and biodegradable are the major advantages offered by biocomposites, which are also key reasons behind their popularity among producers and consumers. Plastic waste is an alarming problem plaguing majority parts of the world. Plastic is non-degradable material and will not decompose for centuries to come. To tackle this problem, governments around the world are imposing strict restrictions on the usage of plastics and promoting eco-friendly alternatives. This is sure to significantly benefit the market over the forecast period.
Despite various advantages, the market is likely to meet with certain hurdles. High cost of biocomposites is one of the key factors expected to restrict market demand. Since these materials are made from natural fibers such as wood, flax, and cotton, they are more expensive than plastics. Moreover, there is a requirement of skilled labor as these products are fairly new to the market. Players are looking to overcome these challenges to retain their position in the market through 2025.

Market Segmentation, Outlook & Viewpoint: Global Biocomposites Market


Fiber Type Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)

Wood Fiber Composites

Non-Wood Fiber Composites


Polymer Type Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)

Natural Polymer

Synthetic Polymer


Product Type Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)

Green Biocomposites

Hybrid Biocomposites


End-use Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)

Transportation

Building and Construction

Consumer Goods

Electrical and Electronics

Others


Key Players, Recent Developments & Regional Insights: Global Biocomposites Market


On the basis of type, the biocomposites market is bifurcated into green and hybrid variants. Green biocomposites are 100% biodegradable and do not have any harmful effect on the environment. Demand for these green materials is high in developed regions such as North America and Europe.
The hybrid types are made from synthetic resins and hence are not 100% biodegradable. However, these variants also present high demand from consumers due to their high strength and light weight.
End-use Insights
Transportation is one of the fastest growing end-use segments due to increasing use of biocomposites in automobiles such as cars and trucks. They are used in cars for nonstructural components such as interior panels. They help manufactures achieve cost reduction as well as weight reduction in vehicles. Additionally, use of these materials instead of metals or alloys reduces the possibility of injury to passengers in case of an accident.  
 
Biocomposites are replacing wood in outdoor constructions such as decking and railing. The material gives the product longer life. Some deck manufacturers are offering 25 years warranty period on their products. Similarly, demand in end-use segments such as electrical and electronics and consumer goods is expected to increase over the forecast period.

Regional Insights 
Asia Pacific is expected to be the largest regional market from 2017 to 2025. Increasing population and rising disposable income are some of the key factors driving the growth of the regional market. A large middle-class population, especially in India and China, is driving demand for automotive and affordable houses, which is, in turn, fueling product demand.
Developed countries in North America and Europe have been presenting high demand as well. The European Union’ s ban on non-recyclable plastic is expected to drive the market in the region. Central and South America is also expected to observe a surge in demand and availability of raw material in the region is projected to benefit this market.
Biocomposites Market Share Insights 
The market is competitive in nature with the presence of both global and local players. There is high initial investment needed for setting up a manufacturing facility. Moreover, raw material required for biocomposites is expensive. Major players have invested in research and development activities in order to introduce new and improved products. Some of the key players in the industry are UPM; Universal Forest Products, Inc.; and Flexform Technologies.

Key Insights Covered: Global Biocomposites Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Biocomposites industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Biocomposites industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Biocomposites industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Biocomposites industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Biocomposites industry.

Research Methodology: Global Biocomposites Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other