Biocomposites Market Size, Share & Trends Report

Biocomposites Market Size, Share & Trends Analysis Report By Fiber Type (Wood, Non-wood), By Polymer Type (Natural, Synthetic), By Product Type (Green, Hybrid), By End Use, And Segment Forecasts, 2018 - 2025

  • Published Date: May, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-199-3
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2015
  • Number of Pages: 187

Industry Insights

The global biocomposites market size was estimated at USD 15.99 billion in 2016 and is expected to register a CAGR of 12.5% by 2025. Rising awareness among people regarding eco-friendly materials and government efforts to replace plastics with biodegradable and environmentally favorable alternatives are major trends responsible for market growth. Additionally, rising demand in the automotive sector to increase the safety of passengers and reduce the weight of a vehicle is expected to spur market demand.  

U.S. biocomposites market

Lightweight and biodegradable are the major advantages offered by biocomposites, which are also key reasons behind their popularity among producers and consumers. Plastic waste is an alarming problem plaguing the majority parts of the world. Plastic is non-degradable material and will not decompose for centuries to come. To tackle this problem, governments around the world are imposing strict restrictions on the usage of plastics and promoting eco-friendly alternatives. This is sure to significantly benefit the market over the forecast period.

Despite various advantages, the market is likely to meet with certain hurdles. High cost of biocomposites is one of the key factors expected to restrict market demand. Since these materials are made from natural fibers such as wood, flax, and cotton, they are more expensive than plastics. Moreover, there is a requirement of skilled labor as these products are fairly new to the market. Players are looking to overcome these challenges to retain their position in the market through 2025.

Fiber Type Insights

Wood and non-wood fibers such as cotton, jute, and flax are the two main types used in biocomposites. The wood fiber variants are rising in popularity due to their usage in outdoor constructions such as decking and railings. Non-wood fiber types are also increasingly being used as a substitute for plastic in many applications such as packaging.

Polymer Type Insights

Natural and synthetic are two kinds of polymers used in biocomposites. The use of natural polymers is increasing due to the rising demand for biodegradable products by consumers across end uses. Natural polymers such as wool, silk, rubber, cellulose, and proteins are used in a number of applications including automotive and consumer products.

Synthetic polymers include nylon, polyester, and polyethylene. Even though demand for artificial and synthetic materials are rapidly being replaced by natural and organic alternatives, this segment will continue to be a popular choice among consumers.

Product Type Insights

On the basis of type, the biocomposites market is bifurcated into green and hybrid variants. Green biocomposites are 100% biodegradable and do not have any harmful effects on the environment. The demand for these green materials is high in developed regions such as North America and Europe.

The hybrid types are made from synthetic resins and hence are not 100% biodegradable. However, these variants also present high demand from consumers due to their high strength and lightweight.

End-use Insights

Transportation is one of the fastest-growing end-use segments due to the increasing use of biocomposites in automobiles such as cars and trucks. They are used in cars for nonstructural components such as interior panels. They help manufactures achieve cost reduction as well as weight reduction in vehicles. Additionally, the use of these materials instead of metals or alloys reduces the possibility of injury to passengers in case of an accident.  

Global biocomposites market

Biocomposites are replacing wood in outdoor constructions such as decking and railing. The material gives the product a longer life. Some deck manufacturers are offering 25 years warranty period on their products. Similarly, demand in end-use segments such as electrical and electronics and consumer goods is expected to increase over the forecast period.

Regional Insights

Asia Pacific is expected to be the largest regional market from 2017 to 2025. Increasing population and rising disposable income are some of the key factors driving the growth of the regional market. A large middle-class population, especially in India and China, is driving demand for automotive and affordable houses, which is, in turn, fueling product demand.

Developed countries in North America and Europe have been presenting high demand as well. The European Union’ s ban on non-recyclable plastic is expected to drive the market in the region. Central and South America is also expected to observe a surge in demand and availability of raw material in the region is projected to benefit this market.

Biocomposites Market Share Insights

The market is competitive in nature with the presence of both global and local players. There is a high initial investment needed for setting up a manufacturing facility. Moreover, the raw material required for biocomposites is expensive. Major players have invested in research and development activities in order to introduce new and improved products. Some of the key players in the industry are UPM; Universal Forest Products, Inc.; and Flexform Technologies.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 and 2015

Forecast period

2017 - 2025

Market representation

Volume in Kilotons, Revenue in USD billion, and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, U.K., France, Italy, Sweden, Russia, China, India, Japan, South Korea, Australia, Brazil, Argentina, UAE, South Africa, and Saudi Arabia

Report coverage

Revenue forecast, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at a global, regional, and country level, and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global biocomposites market report on the basis of fiber type, polymer type, product type, end use, and region:

  • Fiber Type Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)

    • Wood Fiber Composites

    • Non-Wood Fiber Composites

  • Polymer Type Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)

    • Natural Polymer

    • Synthetic Polymer

  • Product Type Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)

    • Green Biocomposites

    • Hybrid Biocomposites

  • End-use Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)

    • Transportation

    • Building and Construction

    • Consumer Goods

    • Electrical and Electronics

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • The U.K.

      • France

      • Italy

      • Sweden

      • Russia

    • Asia Pacific

      • China

      • Japan

      • Indi

      • South Korea

      • Australia

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • UAE

      • South Africa

Pricing & Purchase Options

Service Guarantee

  • Quality assurance

    Insured Buying

    This report has a service guarantee. We stand by our report quality.

  • Information security

    Confidentiality

    We are in compliance with GDPR & CCPR norms. All interactions are confidential.

  • grand view research PCI DSS complaint grand view research gdpr verified
  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities