Product Code: TIPRE00003222
The biocomposites market is expected to grow from US$ 19,268.62 million in 2022 to US$ 46,851.39 million by 2028; it is estimated to grow at a CAGR of 16% from 2022 to 2028.
Biocomposites are composite materials made from natural fibers, including wood fiber, flax, jute, and help, and are reinforced in a polymeric resin matrix. The matrix helps in providing the shape of the composite and protects the fibers from mechanical damage and environmental degradation.
Based on the end-use industry, the global biocomposites market is segmented into building and construction, automotive, consumer goods, and others. In 2021, the building & construction segment led the market. The market for the automotive segment is expected to grow at the fastest pace during the forecast period. Biocomposites are used in the interior and nonstructural components of vehicles. Also, they are generally lightweight materials, so they help in reducing vehicle consumption of fuel and greenhouse gas emissions. Compared to the composites of nonrenewable origin, biocomposites have excellent acoustic and thermal properties, which makes them ideal for vehicle interior parts.
The biocomposites market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). In 2021, Asia Pacific dominated the global market. The economic growth and infrastructure development in the region are among the major factors driving the growth of the market across the region. Moreover, increasing automobile production and expanding the automotive industry in China, India, Japan, and South Korea are propelling the demand for biocomposites. According to the National Bureau of Statistics of China, the construction output value in the country grew from US$ 1.51 trillion in 2010 to US$ 4.18 trillion in 2020. Thus, the growing construction industry across the region is fueling the growth of the biocomposites market.
Many industries, including the chemicals & materials industry, faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw material and labor, the shutdown of factories, and other operational difficulties due to COVID-19 safety protocols adversely affected the biocomposites market. The lockdown severely impacted the supply and production of biocomposites, restraining the market growth. However, vaccination drives have led to a rise in business activities across the world. The economies are reviving their operations. Thus, the demand for biocomposites is expected to rise globally in the coming years. Key manufacturers have resumed their operations, thereby restoring the production capacity of biocomposites.
TTS, Lingrove, Bcomp Ltd., UPM, Flexform Technologies, Tecnaro Gmbh, Green Bay Decking, Fiberon LLC, Arkema, and Procotex are among the leading players in the biocomposites market. These companies are adopting strategies, such as mergers and acquisitions and product launches, to expand their geographic presence and consumer bases.
The overall global biocomposites market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global biocomposites market.
Reasons to Buy:
Highlights key business priorities to assist companies realign their business strategies.
Features key findings and crucial progressive industry trends in the global biocomposites market, thereby allowing players to develop effective long-term strategies.
Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
Scrutinizes in-depth market trends as well as key market drivers and restraints.
Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Table Of Contents
1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
- 1.3.1 Global Biocomposites Market, by Fiber
- 1.3.2 Global Biocomposites Market, by Product
- 1.3.3 Global Biocomposites Market, by End-Use Industry
2. Key Takeaways
3. Research Methodology
- 3.1 Scope of the Study
- 3.2 Research Methodology
- 3.2.1 Data Collection:
- 3.2.2 Primary Interviews:
- 3.2.3 Hypothesis formulation:
- 3.2.4 Macro-economic factor analysis:
- 3.2.5 Developing base number:
- 3.2.6 Data Triangulation:
- 3.2.7 Country level data:
4. Global Biocomposites Market Landscape
- 4.1 Market Overview
- 4.2 Porter's Five Forces Analysis
- 4.3 Ecosystem Analysis
- 4.4 Expert Opinion
5. Global Biocomposites Market - Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Increasing Use of Sustainable Building Materials
- 5.1.2 High Demand for Biocomposites from Automotive Industry
- 5.2 Market Restraints
- 5.2.1 High Hydrophilicity, Poor Fiber-Matrix Adhesion, and Variations in Mechanical Properties of Biocomposites
- 5.3 Market Opportunities
- 5.3.1 New Product Launches
- 5.4 Future Trends
- 5.4.1 Growing Application Areas of Biocomposites
- 5.5 Impact Analysis Of Drivers And Restraints
6. Global Biocomposites - Market Analysis
- 6.1 Global Biocomposites Market Overview
- 6.2 Global Biocomposites Market -Revenue and Forecast to 2028 (USD Million)
- 6.3 Market Positioning - Global Biocomposites Market Players
7. Biocomposites Market Analysis - By Fiber
- 7.1 Overview
- 7.2 Biocomposites Market Breakdown, by Fiber, (2021 and 2028)
- 7.3 Wood Fiber Composite
- 7.3.1 Overview
- 7.3.2 Wood Fiber Composite: Biocomposites Market - Revenue and Forecast to 2028 (US$ Million)
- 7.4 Non-wood Fiber Composite
- 7.4.1 Overview
- 7.4.2 Non-wood Fiber Composite: Biocomposites Market - Revenue and Forecast to 2028 (US$ Million)
8. Biocomposites Market Analysis - By Product
- 8.1 Overview
- 8.2 Biocomposites Market Breakdown, by Product, (2021 and 2028)
- 8.3 Hybrid Biocomposite
- 8.3.1 Overview
- 8.3.2 Hybrid Biocomposite: Biocomposites Market - Revenue and Forecast to 2028 (US$ Million)
- 8.4 Green Biocomposite
- 8.4.1 Overview
- 8.4.2 Green Biocomposite: Biocomposites Market - Revenue and Forecast to 2028 (US$ Million)
9. Biocomposites Market Analysis - By End-Use Industry
- 9.1 Overview
- 9.2 Biocomposites Market Breakdown, by End-Use Industry, (2021 and 2028)
- 9.3 Building and Construction
- 9.3.1 Overview
- 9.3.2 Building and Construction: Biocomposites Market - Revenue and Forecast to 2028 (US$ Million)
- 9.4 Automotive
- 9.4.1 Overview
- 9.4.2 Automotive: Biocomposites Market - Revenue and Forecast to 2028 (US$ Million)
- 9.5 Consumer Goods
- 9.5.1 Overview
- 9.5.2 Consumer Goods: Biocomposites Market - Revenue and Forecast to 2028 (US$ Million)
- 9.6 Others
- 9.6.1 Overview
- 9.6.2 Others: Biocomposites Market - Revenue and Forecast to 2028 (US$ Million)
10. Biocomposites Market - Geographic Analysis
- 10.1 North America: Biocomposites Market
- 10.1.1 North America: Biocomposites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.1.2 North America: Biocomposites Market, by Fiber
- 10.1.3 North America: Biocomposites Market, by Product
- 10.1.4 North America: Biocomposites Market, by End-Use Industry
- 10.1.5 North America: Biocomposites Market, by Key Country
- 10.1.5.1 US: Biocomposites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.1.5.1.1 US: Biocomposites Market , by Fiber
- 10.1.5.1.2 US: Biocomposites Market , by Product
- 10.1.5.1.3 US: Biocomposites Market , by End-Use Industry
- 10.1.5.2 Canada: Biocomposites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.1.5.2.1 Canada: Biocomposites Market, by Fiber
- 10.1.5.2.2 Canada: Biocomposites Market, by Product
- 10.1.5.2.3 Canada: Biocomposites Market, by End-Use Industry
- 10.1.5.3 Mexico: Biocomposites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.1.5.3.1 Mexico: Biocomposites Market, by Fiber
- 10.1.5.3.2 Mexico: Biocomposites Market, by Product
- 10.1.5.3.3 Mexico: Biocomposites Market, by End-Use Industry
- 10.2 Europe: Biocomposites Market
- 10.2.1 Europe: Biocomposites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.2.2 Europe: Biocomposites Market, by Fiber
- 10.2.3 Europe: Biocomposites Market, by Product
- 10.2.4 Europe: Biocomposites Market, by End-Use Industry
- 10.2.5 Europe: Biocomposites Market, by Key Country
- 10.2.5.1 Germany: Biocomposites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.2.5.1.1 Germany: Biocomposites Market, by Fiber
- 10.2.5.1.2 Germany: Biocomposites Market, by Product
- 10.2.5.1.3 Germany: Biocomposites Market, by End-Use Industry
- 10.2.5.2 France: Biocomposites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.2.5.2.1 France: Biocomposites Market, by Fiber
- 10.2.5.2.2 France: Biocomposites Market, by Product
- 10.2.5.2.3 France: Biocomposites Market, by End-Use Industry
- 10.2.5.3 Italy: Biocomposites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.2.5.3.1 Italy: Biocomposites Market, by Fiber
- 10.2.5.3.2 Italy: Biocomposites Market, by Product
- 10.2.5.3.3 Italy: Biocomposites Market, by End-Use Industry
- 10.2.5.4 United Kingdom: Biocomposites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.2.5.4.1 United Kingdom: Biocomposites Market, by Fiber
- 10.2.5.4.2 United Kingdom: Biocomposites Market, by Product
- 10.2.5.4.3 United Kingdom: Biocomposites Market, by End-Use Industry
- 10.2.5.5 Russia: Biocomposites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.2.5.5.1 Russia: Biocomposites Market, by Fiber
- 10.2.5.5.2 Russia: Biocomposites Market, by Product
- 10.2.5.5.3 Russia: Biocomposites Market, by End-Use Industry
- 10.2.5.6 Rest of Europe: Biocomposites Market -Revenue and Forecast to 2028 (US$ Million)
- 10.2.5.6.1 Rest of Europe: Biocomposites Market, by Fiber
- 10.2.5.6.2 Rest of Europe: Biocomposites Market, by Product
- 10.2.5.6.3 Rest of Europe: Biocomposites Market, by End-Use Industry
- 10.3 Asia-Pacific Biocomposites Market Revenue and Forecasts to 2028
- 10.3.1 Asia-Pacific Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.3.2 Asia-Pacific Biocomposites Market Breakdown by Fiber
- 10.3.3 Asia-Pacific Biocomposites Market Breakdown by Product
- 10.3.4 Asia-Pacific Biocomposites Market Breakdown by End-Use Industry
- 10.3.5 Asia-Pacific Biocomposites Market Breakdown, by Key Countries
- 10.3.5.1 Australia Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.3.5.1.1 Australia Biocomposites Market Breakdown by Fiber
- 10.3.5.1.2 Australia Biocomposites Market Breakdown by Product
- 10.3.5.1.3 Australia Biocomposites Market Breakdown by End-Use Industry
- 10.3.5.2 China Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.3.5.2.1 China Biocomposites Market Breakdown by Fiber
- 10.3.5.2.2 China Biocomposites Market Breakdown by Product
- 10.3.5.2.3 China Biocomposites Market Breakdown by End-Use Industry
- 10.3.5.3 India Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.3.5.3.1 India Biocomposites Market Breakdown by Fiber
- 10.3.5.3.2 India Biocomposites Market Breakdown by Product
- 10.3.5.3.3 India Biocomposites Market Breakdown by End-Use Industry
- 10.3.5.4 Japan Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.3.5.4.1 Japan Biocomposites Market Breakdown by Fiber
- 10.3.5.4.2 Japan Biocomposites Market Breakdown by Product
- 10.3.5.4.3 Japan Biocomposites Market Breakdown by End-Use Industry
- 10.3.5.5 South Korea Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.3.5.5.1 South Korea Biocomposites Market Breakdown by Fiber
- 10.3.5.5.2 South Korea Biocomposites Market Breakdown by Product
- 10.3.5.5.3 South Korea Biocomposites Market Breakdown by End-Use Industry
- 10.3.5.6 Rest of Asia-Pacific Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.3.5.6.1 Rest of Asia-Pacific Biocomposites Market Breakdown by Fiber
- 10.3.5.6.2 Rest of Asia-Pacific Biocomposites Market Breakdown by Product
- 10.3.5.6.3 Rest of Asia-Pacific Biocomposites Market Breakdown by End-Use Industry
- 10.4 Middle East and Africa Biocomposites Market Revenue and Forecasts to 2028
- 10.4.1 Middle East and Africa Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.4.2 Middle East and Africa Biocomposites Market Breakdown by Fiber
- 10.4.3 Middle East and Africa Biocomposites Market Breakdown by Product
- 10.4.4 Middle East and Africa Biocomposites Market Breakdown by End-Use
- 10.4.5 Middle East and Africa Biocomposites Market Breakdown, by Key Countries
- 10.4.5.1 South Africa Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.4.5.1.1 South Africa Biocomposites Market Breakdown by Fiber
- 10.4.5.1.2 South Africa Biocomposites Market Breakdown by Product
- 10.4.5.1.3 South Africa Biocomposites Market Breakdown by End-Use Industry
- 10.4.5.2 Saudi Arabia Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.4.5.2.1 Saudi Arabia Biocomposites Market Breakdown by Fiber
- 10.4.5.2.2 Saudi Arabia Biocomposites Market Breakdown by Product
- 10.4.5.2.3 Saudi Arabia Biocomposites Market Breakdown by End-Use Industry
- 10.4.5.3 UAE Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.4.5.3.1 UAE Biocomposites Market Breakdown by Fiber
- 10.4.5.3.2 UAE Biocomposites Market Breakdown by Product
- 10.4.5.3.3 UAE Biocomposites Market Breakdown by End-Use Industry
- 10.4.5.4 Rest of Middle East and Africa Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.4.5.4.1 Rest of Middle East & Africa Biocomposites Market Breakdown by Fiber
- 10.4.5.4.2 Rest of Middle East & Africa Biocomposites Market Breakdown by Product
- 10.4.5.4.3 Rest of Middle East & Africa Biocomposites Market Breakdown by End-Use Industry
- 10.5 South and Central America Biocomposites Market Revenue and Forecasts to 2028
- 10.5.1 South and Central America Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.5.2 South and Central America Biocomposites Market Breakdown by Fiber
- 10.5.3 South and Central America Biocomposites Market Breakdown by Product
- 10.5.4 South and Central America Biocomposites Market Breakdown by End-Use Industry
- 10.5.5 South and Central America Biocomposites Market Breakdown, by Key Countries
- 10.5.5.1 Brazil Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.5.5.1.1 Brazil Biocomposites Market Breakdown by Fiber
- 10.5.5.1.2 Brazil Biocomposites Market Breakdown by Product
- 10.5.5.1.3 Brazil Biocomposites Market Breakdown by End-Use Industry
- 10.5.5.2 Argentina Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.5.5.2.1 Argentina Biocomposites Market Breakdown by Fiber
- 10.5.5.2.2 Argentina Biocomposites Market Breakdown by Product
- 10.5.5.2.3 Argentina Biocomposites Market Breakdown by End-Use Industry
- 10.5.5.3 Rest of South and Central America Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
- 10.5.5.3.1 Rest of South and Central America Biocomposites Market Breakdown by Fiber
- 10.5.5.3.2 Rest of South and Central America Biocomposites Market Breakdown by Product
- 10.5.5.3.3 Rest of South and Central America Biocomposites Market Breakdown by End-Use Industry
11. Impact of COVID-19 Pandemic on Biocomposites Market
- 11.1 Impact of COVID-19 on Biocomposites Market
- 11.2 North America: Impact Assessment of COVID-19 Pandemic
- 11.3 Europe: Impact Assessment of COVID-19 Pandemic
- 11.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic
- 11.5 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
- 11.6 South and Central America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
- 12.1 Overview
- 12.2 Market Initiative
- 12.3 New Product Development
- 12.4 Merger & Acquisition
13. Company Profiles
- 13.1 TTS
- 13.1.1. Key Facts
- 13.1.2. Business Description
- 13.1.3. Products and Services
- 13.1.4. Financial Overview
- 13.1.5. SWOT Analysis
- 13.1.6. Key Developments
- 13.2. LINGROVE
- 13.2.1. Key Facts
- 13.2.2. Business Description
- 13.2.3. Products and Services
- 13.2.4. Financial Overview
- 13.2.5. SWOT Analysis
- 13.2.6. Key Developments
- 13.3. BCOMP LTD
- 13.3.1. Key Facts
- 13.3.2. Business Description
- 13.3.3. Products and Services
- 13.3.4. Financial Overview
- 13.3.5. SWOT Analysis
- 13.3.6. Key Developments
- 13.4. UPM
- 13.4.1. Key Facts
- 13.4.2. Business Description
- 13.4.3. Products and Services
- 13.4.4. Financial Overview
- 13.4.5. SWOT Analysis
- 13.4.6. Key Developments
- 13.5. FLEXFORM TECHNOLOGIES
- 13.5.1. Key Facts
- 13.5.2. Business Description
- 13.5.3. Products and Services
- 13.5.4. Financial Overview
- 13.5.5. SWOT Analysis
- 13.5.6. Key Developments
- 13.6. TECNARO GMBH
- 13.6.1. Key Facts
- 13.6.2. Business Description
- 13.6.3. Products and Services
- 13.6.4. Financial Overview
- 13.6.5. SWOT Analysis
- 13.6.6. Key Developments
- 13.7. FIBERON
- 13.7.1. Key Facts
- 13.7.2. Business Description
- 13.7.3. Products and Services
- 13.7.4. Financial Overview
- 13.7.5. SWOT Analysis
- 13.7.6. Key Developments
- 13.8. ARKEMA
- 13.8.1. Key Facts
- 13.8.2. Business Description
- 13.8.3. Products and Services
- 13.8.4. Financial Overview
- 13.8.5. SWOT Analysis
- 13.8.6. Key Developments
- 13.9. TREX COMPANY, INC.
- 13.9.1. Key Facts
- 13.9.2. Business Description
- 13.9.3. Products and Services
- 13.9.4. Financial Overview
- 13.9.5. SWOT Analysis
- 13.9.6. Key Developments
- 13.10. HEMPFLAX GROUP B.V.
- 13.10.1. Key Facts
- 13.10.2. Business Description
- 13.10.3. Products and Services
- 13.10.4. Financial Overview
- 13.10.5. SWOT Analysis
- 13.10.6. Key Developments
14. Appendix
- 14.1 About The Insight Partners
- 14.2 Word Index