Overview and Scope
A biocomposite refers to a reinforced compound made from mixing a natural resin and a reinforcing compound. They are environmentally friendly and can be recycled easily. Biocomposites are used as an alternative to non-biodegradable polymers in various industries such as automotive, packaging, food and beverages.
Sizing and Forecast
The biocomposites market size has grown rapidly in recent years. It will grow from $28.91 billion in 2024 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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Segmentation & Regional Insights
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
Top 5 Major pLayers:
Asia-Pacific was the largest region in the biocomposites market in 2024. 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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The biocomposites market report table of contents includes:
1. Executive Summary
2. Biocomposites Market Characteristics
3. Biocomposites Market Trends And Strategies
4. Biocomposites Market – Macro Economic Scenario
5. Global Biocomposites Market Size and Growth
……
31. Global Biocomposites Market Competitive Benchmarking
32. Global Biocomposites Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Biocomposites Market
34. Biocomposites Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Biocomposites Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Biocomposites Market, Segmentation By Polymer, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Biocomposites Market, Segmentation By Fiber Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……
Table 75: UPM Financial Performance
Table 76: Trex Company Inc Financial Performance
Table 77: Fiberon LLC Financial Performance
Table 78: FlexForm Technologies Financial Performance
Table 79: Universal Forest Products Inc Financial Performance
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