The biocomposites global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Biocomposites Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The biocomposites market size has grown rapidly in recent years. It will grow from $28.91 billion in 2023 to $34.12 billion in 2024 at a compound annual growth rate (CAGR) of 18.0%. The growth in the historic period can be attributed to environmental concerns, regulatory initiatives, reduced carbon footprint, consumer preferences, waste reduction.
The biocomposites market size is expected to see rapid growth in the next few years. It will grow to $64.1 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to sustainable supply chains, government incentives, eco-friendly packaging, emerging market applications, biodegradable biocomposites. Major trends in the forecast period include technological advancements, sustainable raw materials, advanced manufacturing techniques, high-performance biocomposites, green building materials.
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Scope Of Biocomposites Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Biocomposites Market Overview
Market Drivers –
Growing environmental concerns are expected to propel the growth of the biocomposites market going forward. Environmental concerns refer to environmental issues that affect human activity in the biophysical environment, which causes harmful environmental degradation. Biocomposites have fewer environmental footprints, and they are safer for humans and other living habitats. Also, most biocomposites are recyclable and reusable. For instance, according to Mastercard, a US-based financial services company, in 2021, a survey was conducted in 24 countries with a sample size of 25,519 adults to know the consumer’s passion for the environment. In this survey, 83% of adults stated that they are taking personal action on environmental and sustainability issues. Also, in generation Z, 36% are two times more aware of environmental and sustainable issues. 58% of the adult respondents were more conscious of their impact on the environment. As a result, growing environmental concerns are driving the the biocomposites market growth.
Market Trends –
Technological innovations are the key trend gaining popularity in the agricultural textiles market. Major companies operating in the market are in traducing new technologies such as fully biocomposite material Tepex which is manufactured by using continuous fiber-reinforced thermoplastic composites. For instance, in October 2021, Lanxess, a German specialty chemicals company, introduced a new fully biocomposite material in its Tapex range. That acts as the matrix, for a material that is 100% recyclable. By using continuous fiber-reinforced thermoplastic composites. That helps to give lighter weight than glass fibers and make it flexible with lower density and it also offers mechanical performances to Tepex. This material can also be used in the manufacture of interior parts for cars or electronics to produce housing components.
The biocomposites market covered in this report is segmented –
1) By Product: Hybrid Biocomposites, Green Biocomposites
2) By Polymer: Natural Polymer Composites, Synthetic Polymer Composites
3) By Fiber Type: Wood Fiber Composites, Non-Wood Fiber Composites
4) By End-Use Industries: Building And Construction, Transportation, Consumer Goods, Others End-Use Industries
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Regional Insights –
Asia-Pacific was the largest region in the biocomposites market in 2023. North America was the second-largest region in the biocomposites market share. The regions covered in the biocomposites market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the biocomposites market include UPM, Trex Company Inc, Fiberon LLC, FlexForm Technologies, Universal Forest Products Inc, JELU-WERK J. Ehrler GmbH & Co. KG, Tecnaro GmbH, Newtechwood, Meshlin Composites ZRT, Green Bay Decking LLC, AlPAS Srl, Nanjing Jufeng Advanced Materials Co, Arakawa Chemical Industries, Zeller+Gmelin Corporation, Hydrite Chemical Co., Rahn AG, Aal Chem, SICPA Holding SA, Fuzion Technologies Inc., Rütgers Organics GmbH, Eternal Materials Co. Ltd., Imerys, Technovinyl Polymers India Ltd., Aapico Hitech Public Company Limited, Amorim, BioLogic, Advanced Compounding, Stora Enso, Sappi Ltd., GreenCore Composites
Table of Contents
1. Executive Summary
2. Biocomposites Market Report Structure
3. Biocomposites Market Trends And Strategies
4. Biocomposites Market – Macro Economic Scenario
5. Biocomposites Market Size And Growth
…..
27. Biocomposites Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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