According to a market report by Lucintel, the future of the global biocomposite market looks promising with opportunities in the building & construction, transportation, and consumer good markets. The global biocomposite market is expected to reach an estimated $80 billion by 2030 with a CAGR of 15.4% from 2024 to 2030. The major drivers for this market are rising usage of bio-based products and growing environmental awareness.
In this market, hybrid
and green are the major segments of biocomposite market by product type.
Lucintel forecasts that
hybrid will remain the larger segment over the forecast period due to its
excellent fiber-polymer adhesion leading to high strength, dimensional
stability, and minimal moisture absorption.
Within this market,
building & construction will remain the largest segment over the forecast
period.
APAC is expected to
witness highest growth over the forecast period due to increasing demand for
lightweight automobile parts and presence of key players in the region.
TTS, Lingrove, CG
BioComposites, Bcomp, UPM, FlexForm Technologies, Tecnaro, Green Bay Decking,
Universal Forest Fiber, and Trex are the major suppliers in the biocomposite
market.
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 write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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