According to the recent study the bio-composites market is projected to reach an estimated $9.5 billion by 2027 from $7.7 billion in 2021, at a CAGR of 3.4% from 2021 to 2027. Growth in this market is primarily driven by increasing demand for wood plastic composites (WPC) in the construction industry due to its wood finish like appearance and durability, and growing use of natural fiber composites (NFC) in automotive interiors due to its aesthetics and growing concern for passenger safety.
Browse 121 figures / charts and 118 tables in this 212 -page report to understand trends, opportunities and forecast in bio-composites market by end use (building and construction, automotive, industrial and consumer goods, and others), process (extrusion, compression molding, injection molding, and others), resin (polyethylene, polypropylene, polyvinyl chloride, polylactide acid and others), fiber (wood flour, flax, kenaf, hemp, jute and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Building and construction market is
expected to remain the largest segment during the forecast period.”
Based on end use, the bio-composites market is segmented into building and construction, automotive, industrial and consumer goods, and others. Lucintel forecasts that the building and construction market is expected to remain the largest segment due to increasing demand for moisture resistance, low maintenance, non-toxic, and durable products.
“Within the bio-composites market, the polyethylene segment is expected to remain the largest resin.”
Based on resin the polyethylene segment is expected to witness the highest growth over the forecast period due to durability, near-zero moisture absorption, excellent chemical inertness, and ease of processing.
“Asia pacific will dominate the bio-composites market in near future.”
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing demand for WPC decking, fencing, and railing in the building and construction industries of China, India, and Japan.
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Major players of bio-composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. FlexForm Technologies, Tecnaro GmbH, Trex Company Inc., Azek Building Products, Procotex Corporation SA, Fiberon LLC, GreenGran BV, FiberGran GmbH & Co. KG, Universal Forest Products, Inc., Tamko Building Products, Advanced Environmental Recycling Tech. are among the major bio-composites providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/bio-composites-market.aspx or helpdesk@lucintel.com
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