Biocomposites Market Projected to Grow at Steady Rate through 2025

Biocomposites are composite materials comprising resins and reinforced natural fibers. Reinforcing materials, which are in the form of fibers, sheets, or particles, are ingrained in the resin phase. The resins generated are derivatives of polymer, either renewable or non-renewable. They play an important role in protecting fibers from environmental degradation and mechanical damage. They also hold the fibers together and help transfer loads on it. Natural fibers derived from crops, waste paper, recycled wood, and regenerated cellulose or their byproducts are the primary components used for the generation of biocomposites. Biocomposites possess low density, resulting in higher tensile strength and stiffness with wide range of applications.

The biocomposites market is majorly driven by the increase in concerns about the environment. Depletion of natural resources such as crude oil and focus on reducing environmental pollution are other factors boosting the biocomposites market. Implementation of government regulations on the usage of environmentally-friendly products and safety & recyclable characteristics of biocomposites act as drivers of the market. Rise in demand for non-toxic and biodegradable materials also offers lucrative growth opportunities to the biocomposites market. Rise in usage of moisture & thermal resistant materials in the building & construction end-use industry is anticipated to propel the market for biocomposites. However, availability and quality of raw materials along with fluctuating in cost are likely to hamper market growth.

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Based on fiber type, the biocomposites market can be segmented into wood fiber composites and non-wood composites. Either recycled or non-recycled, wood fiber composites are made out of hard wood or soft wood usually in the form of newspapers and magazine fibers. Non-wood composites comprise flax, jute, hemp, kenaf, sisal, or coir depending upon the application. Demand for non-wood fibers is high due to their physical and mechanical properties.

In terms of product type, the biocomposites market can be divided into hybrid biocomposites and green composites. Based upon different types of fibers embedded into a single matrix, hybrid composites can be made out of synthetic or natural fibers and can be randomly combined. Green composites are formed through a combination of natural fibers with biodegradable resins. They can be easily disposed without affecting the environment cycle due to their degradable and sustainable properties.

Based on polymer type, the biocomposites market can be divided into natural polymers and synthetic polymers. Natural polymers include polyhydroxyalkanoate (PHA) and polylactic acid (PLA). These are utilized for applications in packaging, molded goods, paper coatings, non-woven fabrics, adhesives, and films and performance additives. Synthetic polymers comprise epoxy and polypropylene (PP), which are employed in aerospace and automobile industries.

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Based on end-use industry, the biocomposites market can be segregated into transportation, building & construction, consumer goods, and others (marine, sports & leisure goods, electrical & electronics, and aerospace). The transportation segment accounts for significant share of the biocomposites market due to lightweight, impact resistance and non-toxic features of biocomposites. The building & construction segment has been expanding owing to the rise in demand for lightweight, moisture resistant, and low maintenance products. Bio composites are also widely used in construction and marine sectors owing to their rigid and molding capabilities.

In terms of geography, the biocomposites market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is anticipated to be the fastest growing market for biocomposites, due to the rapid industrialization and rise in demand in end-use industries such as transportation and building & construction in the region. North America and Europe hold key share, while Latin America and Middle East & Africa are projected to be the emerging hubs of the biocomposites market.

Prominent players operating in the global biocomposites market include FlexForm Technologies, TECNARO GmbH, Trex Company, Inc., Fiberon, LLC, JELU-WERK Josef Ehrler GmbH & Co. KG, and Meshlin Composites Zrt.

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