The global biocomposites market comprises a profound analysis of the fundamental parameters contributing to the global Biocomposites Market scenario. The research report provides the reader with an in-depth interpretation of the Biocomposites Market dynamics, including the crucial drivers, opportunities, threats, and challenges. The report also describes the key business strategies, demand and supply ratios, leading regions, and the renowned market players, in a nutshell, offering a futuristic outlook of the overall Biocomposites industry.
Increasing ongoing research on biocomposites plays a major role in driving market growth. On 9 May 2022 for instance, Eindhoven University of Technology in the Netherlands announced the successful completion of the Smart Circular Bridge project. The project demonstrates the potential of natural fiber by constructing three city bridges out of a biocomposite material made of flax and a bioresin for its light and highly stable properties.
The latest report is updated with the impact analysis of the current COVID-19 pandemic on the market. The rapidly changing dynamics of the market and current and future growth potential of the market are covered in the report. The report offers crucial information about the initial and future assessment of the impact of the COVID-19 crisis on the overall market.
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The report covers historical revenue and sales volume, and the data is further validated to provide a forecast market estimation of the market size and sales numbers for key regions along with types and end-user applications. Moreover, the report also includes macroeconomic factors and regulatory policies pertaining to the Biocomposites industry for evaluation and predictive analysis.
Key Benefits of the Report:
- Comprehensive analysis of the competitive scenario and its changing dynamics
- Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
- In-depth 8-year analysis of the Global Biocomposites Market
- Critical understanding of the key market segments
- Comprehensive analysis of the drivers, restraints, trends, and opportunities
- Detailed regional analysis and extensive company profiling
- Extensive assessment of current and emerging trends of the market
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with the product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share.
The major companies studied in the report include:
UPM, Trex Company, Fiberon, FlexForm Technologies, Nanjing Jufeng Advanced Materials Co., Ltd., Meshlin Composites Zrt, Tecnaro GmbH, HempFlax Group B.V., Trifilon, Fasal Wood GmbH, Addiplast Group, and Transmare Compounding.
Some Key Highlights From the Report
- Roselle Fiber segment accounted for moderate revenue share in 2021. Increasing demand from the automotive industry and significant investments by major market players in expanding existing manufacturing capabilities are major factors driving this segment’s growth. In addition, increasing demand can also be attributed to their highly specific material properties. For instance, roselle fiber exhibits excellent thermo-mechanical properties and has a high strength-to-weight ratio. Its corrosion inhibiting properties play a major role in automotive and aerospace applications. Moreover, due to high compressive strength and hardness value, the materials are ideal for structural applications.
- Polypropylene (PP) segment accounted for a significantly robust revenue share in 2021. Increasing demand from the packaging industry is a major factor driving revenue growth of the segment. PP is a lightweight material with a variety of superior properties. For instance, PP is resistant to a variety of chemical solvents and acids. This polymer material also has high tensile strength and low moisture resistance. As a result, major packaging companies are making significant investments in these materials and the materials are being incorporated in food and beverage packaging. Moreover, PP reduces the possibility of food deterioration and enhances shelf life.
- Automotive segment accounted for a significantly large revenue share in 2021. Increasing focus on reducing greenhouse gas emissions and scarcity of petroleum are key factors driving demand for lightweight raw materials and products and is supporting revenue growth of the automotive segment. Biocomposites materials with properties such as high strength and low weight make these ideal for a variety of applications in the automotive industry. In addition, it enables automotive manufacturers to effectively address the aforementioned challenges. Biocomposite materials are primarily used in the production of non-structural interior components in vehicles such as wood trim, seat fillers, seat backs, headliners, interior panels, dashboards, and thermoacoustic insulation. Biocomposites used in automotive industry mainly constitute natural fibers extracted from flax, hemp, jute, and sisal. This is due to antimicrobial properties and extended durability.
The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
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Regional Segmentation:
Based on the geographical spread, the Biocomposites industry is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The regional analysis of the Biocomposites market provides an insight into the regions expected to hold the largest share in the market. Additionally, the report provides valuable data about distribution, production, consumption patterns, export/import, and demand and supply ratio.
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Based on Type, the market is segmented into:
- Fiber Type Outlook (Revenue, USD Billion; 2019-2030)
- Roselle Fiber
- Kenaf Fiber
- Flax Fiber
- Ramie Fiber
- Others
- Polymer Type Outlook (Revenue, USD Billion; 2019-2030)
- PP
- PE
- PA
- PLA
- Others
Based on Applications, the market is segmented into:
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Building Construction
- Automotive
- Medical
- Consumer Goods
- Others
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