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. The growth of environmental concerns and the high cost of synthetic fibers propel the usage of natural fiber as reinforcement in polymeric composites. Biocomposites are materials formed by a matrix and reinforcement of natural fibers. In 2021, Asia Pacific dominated the global biocomposites market. The region is also expected to retain its dominance during the forecast period. According to the Fitch Solutions Infrastructure Report, China is the world’s largest construction market and is expected to grow at an annual average of 8.6% between 2022 and 2030. The rising environmental concerns have led to an increased demand for sustainable materials to be used in the building & construction industry.
Biocomposites Market to Get a New Boost
Biocomposites Market Global Analysis and
Forecast to 2028
Published Date : June 2022
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Report Studies
Biocomposites Market Forecast to 2028 - COVID-19 Impact and Global Analysis By
Fiber (Wood Fiber Composite and Non-Wood Fiber Composite), Product (Hybrid
Composite and Green Composite), and End-Use Industry (Building & Construction,
Automotive, Consumer Goods, and Others)
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Biocomposites Market
Overview
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.
The growth of environmental concerns and the high cost of synthetic fibers propel the usage
of natural fiber as reinforcement in polymeric composites. Biocomposites are materials
formed by a matrix and reinforcement of natural fibers.
According to the Fitch Solutions Infrastructure Report, China is the world’s largest
construction market and is expected to grow at an annual average of 8.6% between 2022
and 2030.
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Key Segment Market
Segment By Type:-
By Fiber (Wood Fiber Composite and Non-Wood Fiber Composite)
Product (Hybrid Composite and Green Composite)
End-Use Industry (Building & Construction, Automotive, Consumer Goods, and Others)
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Biocomposites
$50,000
Market
Value $40,000
$30,000
CAGR of 16%
$20,000
(2022 - 2028)
$10,000
$0
20XX 20XX 20XX 20XX 20XX
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Company Profiles
TTS
Lingrove
Bcomp Ltd
UPM
Flexform Technologies
Tecnaro GMBH
Green Bay Decking
Fiberon LLC
Arkema
Procotex
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By Geography
North America (the US, Canada, and Mexico)
Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe)
Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific)
Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East &
Africa)
South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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