North American Report

Biocomposites Market is projected to reach USD 51.32 billion by 2027; Rise in Trend of Globalization and the Awareness for the Environment | Reports and Data

 Breaking News
  • No posts were found

Biocomposites Market is projected to reach USD 51.32 billion by 2027; Rise in Trend of Globalization and the Awareness for the Environment | Reports and Data

March 03
19:34 2021
Biocomposites Market is projected to reach USD 51.32 billion by 2027; Rise in Trend of Globalization and the Awareness for the Environment | Reports and Data

Biocomposites Market
Biocomposites Market Size – USD 22.43 million in 2019, Market Growth – CAGR of 10.8%, Market Trends – Rise in trend of globalization and the awareness for the environment.

The growing incidence of awareness of the environment and the stringent government regulations regarding the use of products that are environmentally friendly is driving the demand for the market.

Market Size – USD 22.43 million in 2019, Market Growth – CAGR of 10.8%, Market Trends – Rise in trend of globalization and the awareness for the environment.

The Global Biocomposites Market is projected to reach USD 51.32 billion by 2027. The sector is estimated to be powered by the increasing use of biocomposites in end-use sectors such as automotive, building and construction, electrical and electronics, and consumer goods. Also, a change in customer preference from plastic composites to environmentally friendly biocomposites is expected to fuel demand growth over the forecast period.

Biocomposites are composite materials, together with polymer resin, made from natural fibers such as wood or nonwood fiber. Due to its eco-friendly characteristics, their use in different sectors is growing. They are effectively used as a replacement for plastic composites. Strict laws on the environment favor their purpose, too.


Ask for Sample Report at @ https://www.reportsanddata.com/sample-enquiry-form/3263

Key Participants Include –

  • Huntsman Corporation
  • Mitsubishi Plastics
  • Fiberon LLC
  • FlexForm Technologies
  • LLC
  • Universal Forest Products
  • Bioworks
  • Stemergy
  • Procotex
  • ALPAS Srl
  • NewTechWood
  • Green Bay Decking
  • Arkema
  • Procotex
  • Tecnaro GmbH
  • Bast Fibers LLC
  • Others

Globally, the handling of plastic waste is a severe issue because plastic goods do not quickly decompose. Several governments have banned plastic goods from addressing this issue, and are encouraging the use of biocomposites as a replacement for plastic composites. Besides, they are used in automotive non-structural parts as a replacement for metal and alloys, like parcel shelves and interior panels. The use of biocomposites in the automotive industry is likely to help decrease a vehicle’s total weight and thus reduce passenger injuries in accident cases. Similarly, rising demand is expected to drive the market in the electrical and consumer sustainable sectors

The COVID-19 impact:
The COVID-19 pandemic is expected to interfere somewhat with the growth of the industry. The leading actors in the industry are skeptical of the market’s future and try to redesign their strategies to support the challenge. The pandemic had a serious impact on the chemical production units and most major fabricators were forced to stop both production and other operations. There is a shortage of resources in different parts of the world as a result of regular lockdowns. COVID-19 has influenced foreign commerce, exports and imports, and has also contributed to a major decrease in demand in the industry. The big companies operating on the market try to clear their stock and concentrate on keeping their cash balances. It is likely that people’s average disposable income is reduced and producers are trying to develop innovative solutions, which can meet customer requirements at much lower cost.

Further key findings from the report suggest

  • The demand for biocomposites is influenced by stringent government regulations on the use of environmentally friendly materials and the safety & sustainability of biocomposites compared to composites of glass and carbon fiber.
  • Wood fiber composites are anticipated to develop most significantly during the forecast period.
  • Transportation emerged as a leading end-use segment on the market and accompanied by construction.
  • Advances in technology in the mass manufacturing of biocomposites are among the factors driving the global market for biocomposites.
  • A variety of major competitors in the sector are investing in eco-friendly and high strength goods for research and development. Several companies have also consolidated their activities around the value chain to improve productivity and improve customer experience.
  • In January 2019, Web Industries acquired Omega Systemes Atlantique and Aquitaine. This acquisition brought premier Europe and U.S. producers of advanced materials for aerospace.


Inquire for Discount @
https://www.reportsanddata.com/discount-enquiry-form/3263

For the purpose of this report, Reports and Data have segmented into the global Biocomposites Market on the basis of fiber type, polymer type, product type, manufacturing process, and region:

Fiber Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Straw
  • Bast
  • Hemp
  • Flax
  • Jute
  • Kenaf
  • Soft & Hardwood
  • Others

Polymer Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Natural
  • Synthetic

Product Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Green
  • Hybrid

Manufacturing Process Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Compression Molding
  • Injection Molding
  • RTM
  • Others

Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Construction
  • Transportation
  • Consumer Goods
  • Electronics & Electrical
  • Others

Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • U.K
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of APAC
  • MEA
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of LATAM


Browse the Full Report @
https://www.reportsanddata.com/report-detail/biocomposites-market

Table of contents

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique

Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2019-2027

Chapter 3. Indicative Metrics

Chapter 4. Biocomposites Market Segmentation & Impact Analysis
    4.1. Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                   4.2.2.1. Stringent government regulations regarding use of environment friendly products
                   4.2.2.2. Recyclability of the material
                   4.2.2.3. Increased technological advancements
         4.2.3. Market restraints analysis
                   4.2.3.1. Low strength performance
                   4.2.3.2. High cost of raw materials
                   4.2.3.3. Labor restrictions due to COVID-19
    4.3. Technological Insights
    4.4. Regulatory Framework
    4.5. ETOP Analysis
    4.6. Porter’s Five Forces Analysis
    4.7. Competitive Metric Space Analysis
    4.8. Price trend Analysis
    4.9. Customer Mapping

Chapter 5. Biocomposites By Fiber Type Insights & Trends
    5.1. Fiber Type Dynamics & Market Share, 2019 & 2027
    5.2. Straw
          5.2.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
          5.2.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
    5.3. Bast
          5.3.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
          5.3.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
    5.4. Hemp
           5.4.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
           5.4.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
    5.5. Flax
           5.5.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
           5.5.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
    5.6. Jute
           5.6.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
           5.6.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
    5.7. Kenaf
           5.7.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
           5.7.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
    5.8. Soft & Hardwood
           5.8.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
           5.8.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
    5.9. Others
           5.9.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
           5.9.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)

Chapter 6. Biocomposites By Polymer Type Insights & Trends

Continued…..

Request customization of the report @ https://www.reportsanddata.com/request-customization-form/3263

Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs.  

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Media Contact
Company Name: Reports and Data
Contact Person: John Watson
Email: Send Email
Phone: +1-212-710-1370
Address:40 Wall St. 28th floor
City: New York City
State: NY 10005
Country: United States
Website: https://www.reportsanddata.com/press-release/global-biocomposites-market