Biocomposite Market Key Highlights:
- Market Size (2024): USD 31.81 Billion
- Projected Market Size (2034): USD 135.56 Billion
- CAGR (2023-2034): 15.6%
Pricing Analysis:
- Price Growth
- Regional Variations
Volume Analysis:
Import-Export Data
- Major Importers
- Major Exporters
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Price by Manufacturer
- Examination of pricing strategies adopted by various manufacturers.
Biocomposite Market Definition
The materials that are manufactured by combination of natural fibers and a matrix derived from renewable sources, typically eco-friendly or biodegradable, is known as biocomposites. The key components of biocomposites are animal-based fibers, plant-based fibers, natural fibers and mineral-based fibers. There are different types of biocomposites namely wood-plastic composites (WPCs), biodegradable composites, and natural fiber-reinforced polymers (NFRPs). Due to rising global warming the costumers are becoming more environment friendly and shifting towards eco-friendly materials including those made with biocomposites, is rising. This consists of products in sectors such as electronics, packaging and automotive among others.
In March 2024, BioPowder company, biomass-processing industry, announced that the company is replacing the synthetic components with bio-composites. BioPowder is proceeding the composites sector toward natural resources including plant-based polymers and functional fillers. BioPowder works with producers to develop truly sustainable products by lowering environmental impacts and improving functional qualities. By converting olive oil by-products into superior powders with distinctive properties, they are ideal for use as natural fillers and reinforcing fires in composite materials.
The processing of biocomposite and manufacturing complexity for biocomposite restricts growth of the biocomposites market. Increasing research and development to develop biocomposite fiber is estimated to create lucrative opportunity for the growth of the biocomposites market over the forecast period. A biocomposite is a composite material that substitutes traceable and renewable elements, including wood fiber, for plastic in products to lower their plastic content. Metsä Fibre wants to build a resource-efficient circular economy and offer value through bio-based goods. The company's most recent invention is a cellulose fiber pellet product made from pulp that is used to make biocomposite materials. The pulp-based product serves as a substitute for traditional goods derived from fossil fuels. Additionally, it adds additional qualities to the materials, states the Katja Salmenkivi, Metsä Fibre company's sales director. The North America region dominates the biocomposites market due to the presence of strong consumer’s preference for the sustainable products and technology advancement for development of biocomposites.
Biocomposite Market Segmentation:
By Fiber Type
- Wood Fiber Composites
- Non-wood Fiber Composites
By Polymer Type
- Natural Polymer Composites
- Synthetic Polymer Composites
By Product
- Hybrid Biocomposites
- Green Biocomposites
By End-Use Industry
- Building & Construction
- Transportation
- Consumer Goods
- Others
Biocomposite Market Companies:
- Stora Enso
- UPM
- Universal Forest Products, Inc.
- Trex Company
- Fiberon LLC
- FlexForm Technologies
- Tecnaro GmbH
- Meshlin Composites ZRT
- Nanjing Jufeng Advanced Materials Co., Ltd.
- Bcomp Ltd.
- BioComposites Group
- Lingrove Inc
- Green Dot Bioplastics Inc.
- EP Biocomposites Ltd.
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