[Research Report] 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.
MARKET ANALYSIS
Biocomposites are materials formed by reinforcement of natural fibers and matrix (resin). The interest in biocomposites is rapidly growing among end use industries as applications in fundamental research, packaging, construction, military applications, aerospace, railway coaches, and automobiles due to many potential benefits such as ease in availability, high specific strength, light weight, biodegradability, recyclability, cheaper in cost, and renewability. The biocomposites are being highly used in the automotive industry for the manufacturing of interior panels. As biocomposites are eco-friendly, they are replacing polymer composites in various applications at a high price.
GROWTH DRIVERS AND CHALLENGES
The increasing use of sustainable building materials has aided the biocomposites market growth. The construction industry is one of the firmest emergent sectors in rapid urbanization owing to the growing population in urban areas. This urbanization makes the industry the most astonishing consumer of materials, most of them from non-renewable resources. According to the report from the Global Alliance for Building and Construction, the construction sector is one of the most harmful to the environment. According to the study, the construction sector is responsible for 39% of the carbon dioxide emissions dispersed in the environment, for 36% of consumption global energy and for 50% of the extraction of raw materials. Emissions are mainly responsible for climate change and increases the earth’s temperature. Conventional construction materials are highly resource and energy-intensive. Hence, there is a rising concern and awareness about hazards from conventional building materials that have both social and environmental impact. In order to address these issues, new materials and technologies are being developed in the construction industry. Biocomposites are sustainable building materials help eliminate non-renewable waste, reduce raw material usage, and cut fossil-fuel consumption. Interest in using biocomposites in the construction industry is increasing globally, as these materials are made from renewable, recyclable, biodegradable sources and have a wide range of uses as structural and non-structural building elements. However, there are few disadvantages of natural fiber composites such as poor fiber-matrix interfacial bonding, poor wettability, and water absorption. These challenges affect the strength and performance of end products. The hydrophilic nature of biocomposites tend to absorb water from the immediate environment which causes the composite to swell. All these factors are expected to hinder the biocomposites market growth during the forecast period.
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Biocomposites Market: Strategic Insights
Market Size Value in US$ 19,268.62 million in 2022 Market Size Value by US$ 46,851.39 million by 2028 Growth rate CAGR of 16% from 2022 to 2028. Forecast Period 2022-2028 Base Year 2022
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Biocomposites Market: Strategic Insights
| Market Size Value in | US$ 19,268.62 million in 2022 |
| Market Size Value by | US$ 46,851.39 million by 2028 |
| Growth rate | CAGR of 16% from 2022 to 2028. |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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REPORT SEGMENTATION AND SCOPE
The "Global Biocomposites Market Analysis to 2028" is a specialized and in-depth study with a major focus on the global biocomposites market trends and growth opportunities. The report aims to provide an overview of the global biocomposites market with detailed market segmentation by fiber, product, end use, and geography. The global biocomposites market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of biocomposites worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the biocomposites market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the biocomposites market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative biocomposites market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global biocomposites market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global biocomposites market is segmented based on fiber, product, end use. Based on fiber, the biocomposites market is bifurcated as wood fiber composite and non-wood fiber composite. Based on product, the market is classified as hybrid biocomposite and green biocomposite. On the basis of end use the market is segregated as building and construction, automotive, consumer goods, and others.
Based on fiber, the wood fiber composite segment accounted for a significant biocomposites market share. The main disadvantage of wood fiber composites is their moisture sensitivity however, with increasing research and development manufacturers are producing wood fiber components with higher moisture resistance, greater rigidity and a lower coefficient of thermal expansion. On the basis of product hybrid composite led the biocomposites market with a largest market share. Based on end use building and construction segment is dominating the biocomposite market. Biocomposites in the building are used for framing, walls and wallboard, window frames, doors, flooring, decorative paneling, cubicle walls, and ceiling panels. The use of biocomposites for temporary and adjustable building components reduces landfill waste when interior designs within the structure are modified.
REGIONAL ANALYSIS
The report provides a detailed overview of the global biocomposites market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia Pacific accounted for a significant share of the market and is valued at more than US$ 9,300 million in 2022. Asia Pacific comprises several developing and developed economies such as China, India, Japan, South Korea, and Australia. The critical factor contributing to its growth is the increasing demand from building & construction and transportation for end-use industries. The high demand for biocomposites is primarily observed in China, Japan, India, and South Korea. Also, the increase in foreign direct investment (FDI) in transportation and infrastructure sectors is expected to drive the demand for biocomposites during the next few years. Europe is also expected to witness considerable growth valued at approximately US$ 11,000 million in 2028, owing to the increasing government spending on infrastructure building. Furthermore, in North America, there has been a widespread usage of biocomposites in residential & commercial construction, consumer products and the automotive sector. This has created lucrative opportunities in biocomposites market. The biocomposites market in North America is augmented to grow at CAGR of 15.0% during the forecast period.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global biocomposites market.
- In May 2022, Arkema planned to launch its new solution for recyclable and ever more efficient composites.
- In Mar 2021, Fiberon announced the launch of wildwood composite cladding, providing the unrivaled beauty and warmth of wood combined with the durability of high-performance, low-maintenance materials.
Biocomposites Market Report Scope
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). The crisis disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the international travel bans imposed by various governments in Europe, Asia Pacific, and North America forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the chemicals & materials industry in 2020 and early 2021, thereby restraining the growth of various markets related to this industry, including the biocomposites market.
Before the COVID-19 outbreak, the biocomposites market was mainly driven by the rising demand from automotive and building & construction industries. However, in 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic disrupted the supply chain of key raw materials and disturbed manufacturing processes due to restrictions imposed by government authorities in various countries. However, the economies revived their operations. The previously postponed construction projects were resumed, further providing an opportunity for the biocomposite market players to regain normalcy.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the biocomposites market include TTS; Lingrove; Bcomp Ltd; UPM; Flexform Technologies; Tecnaro GmbH; Fiberon; Arkema; Trex Company, Inc.; and HempFlax Group B.V. among others.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Fiber, Product, and End-Use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, UAE, UK, US
Frequently Asked Questions
The green biocomposite is expected to be the fastest-growing segment during the forecast period. Green biocomposites are typically made by combining a biodegradable polymeric matrix with eco-friendly and renewable fibers. Increasing concern for the environment is driving the growth of green biocomposites during the forecast period.
During the forecast period, the automotive segment is expected to be the fastest-growing segment. Many automotive applications use biocomposites to achieve objectives, including light vehicle weight, fuel economy, low battery weight, low CO2 emissions, and high accident safety. Increasing demand for lightweight and fuel-efficient vehicles is propelling the demand for biocomposites during the forecast period.
The key driver fueling the biocomposites market's expansion is the population's increased awareness of the necessity for eco-friendly materials to protect the environment from degradation. Another aspect driving the biocomposites market's expansion is the growing use of biocomposites to lighten vehicles and increase safety. Other reasons that contributed to the market's growth include the introduction of strict government restrictions and safer usage of biocomposites than glass fiber.
In 2021, Asia-Pacific accounted for the largest share of the global biocomposites market. Due to growing environmental concerns, strict government restrictions, and a sense of social responsibility, the commercial and residential construction sector in the Asia Pacific is booming. Increased use of biocomposites in the building and construction sector led to the dominance of the Asia Pacific region in the global biocomposites market.
In 2021, the wood fiber composite segment held the largest market share. Composites made of wood fiber cost less than non-wood composites. These are used in a variety of applications, including residential, commercial, swimming pool, observation decks, and jetties. These are a few of the factors that led to the dominance of wood fiber composites in 2021.
The major players operating in the biocomposites market are TTS, Lingrove, Bcomp Ltd., UPM, Flexform Technologies, Tecnaro GMBH, Green Bay Decking, Fiberon LLC, Arkema, and Procotex.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Biocomposites Market, by Fiber
1.3.2 Global Biocomposites Market, by Product
1.3.3 Global Biocomposites Market, by End-Use Industry
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Global Biocomposites Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Global Biocomposites Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Use of Sustainable Building Materials
5.1.2 High Demand for Biocomposites from Automotive Industry
5.2 Market Restraints
5.2.1 High Hydrophilicity, Poor Fiber–Matrix Adhesion, and Variations in Mechanical Properties of Biocomposites
5.3 Market Opportunities
5.3.1 New Product Launches
5.4 Future Trends
5.4.1 Growing Application Areas of Biocomposites
5.5 Impact Analysis Of Drivers And Restraints
6. Global Biocomposites – Market Analysis
6.1 Global Biocomposites Market Overview
6.2 Global Biocomposites Market –Revenue and Forecast to 2028 (USD Million)
6.3 Market Positioning – Global Biocomposites Market Players
7. Biocomposites Market Analysis – By Fiber
7.1 Overview
7.2 Biocomposites Market Breakdown, by Fiber, (2021 and 2028)
7.3 Wood Fiber Composite
7.3.1 Overview
7.3.2 Wood Fiber Composite: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Non-wood Fiber Composite
7.4.1 Overview
7.4.2 Non-wood Fiber Composite: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
8. Biocomposites Market Analysis – By Product
8.1 Overview
8.2 Biocomposites Market Breakdown, by Product, (2021 and 2028)
8.3 Hybrid Biocomposite
8.3.1 Overview
8.3.2 Hybrid Biocomposite: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Green Biocomposite
8.4.1 Overview
8.4.2 Green Biocomposite: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
9. Biocomposites Market Analysis – By End-Use Industry
9.1 Overview
9.2 Biocomposites Market Breakdown, by End-Use Industry, (2021 and 2028)
9.3 Building and Construction
9.3.1 Overview
9.3.2 Building and Construction: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Automotive
9.4.1 Overview
9.4.2 Automotive: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Consumer Goods
9.5.1 Overview
9.5.2 Consumer Goods: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
10. Biocomposites Market – Geographic Analysis
10.1 North America: Biocomposites Market
10.1.1 North America: Biocomposites Market –Revenue and Forecast to 2028 (US$ Million)
10.1.2 North America: Biocomposites Market, by Fiber
10.1.3 North America: Biocomposites Market, by Product
10.1.4 North America: Biocomposites Market, by End-Use Industry
10.1.5 North America: Biocomposites Market, by Key Country
10.1.5.1 US: Biocomposites Market –Revenue and Forecast to 2028 (US$ Million)
10.1.5.1.1 US: Biocomposites Market , by Fiber
10.1.5.1.2 US: Biocomposites Market , by Product
10.1.5.1.3 US: Biocomposites Market , by End-Use Industry
10.1.5.2 Canada: Biocomposites Market –Revenue and Forecast to 2028 (US$ Million)
10.1.5.2.1 Canada: Biocomposites Market, by Fiber
10.1.5.2.2 Canada: Biocomposites Market, by Product
10.1.5.2.3 Canada: Biocomposites Market, by End-Use Industry
10.1.5.3 Mexico: Biocomposites Market –Revenue and Forecast to 2028 (US$ Million)
10.1.5.3.1 Mexico: Biocomposites Market, by Fiber
10.1.5.3.2 Mexico: Biocomposites Market, by Product
10.1.5.3.3 Mexico: Biocomposites Market, by End-Use Industry
10.2 Europe: Biocomposites Market
10.2.1 Europe: Biocomposites Market –Revenue and Forecast to 2028 (US$ Million)
10.2.2 Europe: Biocomposites Market, by Fiber
10.2.3 Europe: Biocomposites Market, by Product
10.2.4 Europe: Biocomposites Market, by End-Use Industry
10.2.5 Europe: Biocomposites Market, by Key Country
10.2.5.1 Germany: Biocomposites Market –Revenue and Forecast to 2028 (US$ Million)
10.2.5.1.1 Germany: Biocomposites Market, by Fiber
10.2.5.1.2 Germany: Biocomposites Market, by Product
10.2.5.1.3 Germany: Biocomposites Market, by End-Use Industry
10.2.5.2 France: Biocomposites Market –Revenue and Forecast to 2028 (US$ Million)
10.2.5.2.1 France: Biocomposites Market, by Fiber
10.2.5.2.2 France: Biocomposites Market, by Product
10.2.5.2.3 France: Biocomposites Market, by End-Use Industry
10.2.5.3 Italy: Biocomposites Market –Revenue and Forecast to 2028 (US$ Million)
10.2.5.3.1 Italy: Biocomposites Market, by Fiber
10.2.5.3.2 Italy: Biocomposites Market, by Product
10.2.5.3.3 Italy: Biocomposites Market, by End-Use Industry
10.2.5.4 United Kingdom: Biocomposites Market –Revenue and Forecast to 2028 (US$ Million)
10.2.5.4.1 United Kingdom: Biocomposites Market, by Fiber
10.2.5.4.2 United Kingdom: Biocomposites Market, by Product
10.2.5.4.3 United Kingdom: Biocomposites Market, by End-Use Industry
10.2.5.5 Russia: Biocomposites Market –Revenue and Forecast to 2028 (US$ Million)
10.2.5.5.1 Russia: Biocomposites Market, by Fiber
10.2.5.5.2 Russia: Biocomposites Market, by Product
10.2.5.5.3 Russia: Biocomposites Market, by End-Use Industry
10.2.5.6 Rest of Europe: Biocomposites Market –Revenue and Forecast to 2028 (US$ Million)
10.2.5.6.1 Rest of Europe: Biocomposites Market, by Fiber
10.2.5.6.2 Rest of Europe: Biocomposites Market, by Product
10.2.5.6.3 Rest of Europe: Biocomposites Market, by End-Use Industry
10.3 Asia-Pacific Biocomposites Market Revenue and Forecasts to 2028
10.3.1 Asia-Pacific Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.3.2 Asia-Pacific Biocomposites Market Breakdown by Fiber
10.3.3 Asia-Pacific Biocomposites Market Breakdown by Product
10.3.4 Asia-Pacific Biocomposites Market Breakdown by End-Use Industry
10.3.5 Asia-Pacific Biocomposites Market Breakdown, by Key Countries
10.3.5.1 Australia Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.3.5.1.1 Australia Biocomposites Market Breakdown by Fiber
10.3.5.1.2 Australia Biocomposites Market Breakdown by Product
10.3.5.1.3 Australia Biocomposites Market Breakdown by End-Use Industry
10.3.5.2 China Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.3.5.2.1 China Biocomposites Market Breakdown by Fiber
10.3.5.2.2 China Biocomposites Market Breakdown by Product
10.3.5.2.3 China Biocomposites Market Breakdown by End-Use Industry
10.3.5.3 India Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.3.5.3.1 India Biocomposites Market Breakdown by Fiber
10.3.5.3.2 India Biocomposites Market Breakdown by Product
10.3.5.3.3 India Biocomposites Market Breakdown by End-Use Industry
10.3.5.4 Japan Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.3.5.4.1 Japan Biocomposites Market Breakdown by Fiber
10.3.5.4.2 Japan Biocomposites Market Breakdown by Product
10.3.5.4.3 Japan Biocomposites Market Breakdown by End-Use Industry
10.3.5.5 South Korea Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.3.5.5.1 South Korea Biocomposites Market Breakdown by Fiber
10.3.5.5.2 South Korea Biocomposites Market Breakdown by Product
10.3.5.5.3 South Korea Biocomposites Market Breakdown by End-Use Industry
10.3.5.6 Rest of Asia-Pacific Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.3.5.6.1 Rest of Asia-Pacific Biocomposites Market Breakdown by Fiber
10.3.5.6.2 Rest of Asia-Pacific Biocomposites Market Breakdown by Product
10.3.5.6.3 Rest of Asia-Pacific Biocomposites Market Breakdown by End-Use Industry
10.4 Middle East and Africa Biocomposites Market Revenue and Forecasts to 2028
10.4.1 Middle East and Africa Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.4.2 Middle East and Africa Biocomposites Market Breakdown by Fiber
10.4.3 Middle East and Africa Biocomposites Market Breakdown by Product
10.4.4 Middle East and Africa Biocomposites Market Breakdown by End-Use
10.4.5 Middle East and Africa Biocomposites Market Breakdown, by Key Countries
10.4.5.1 South Africa Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.4.5.1.1 South Africa Biocomposites Market Breakdown by Fiber
10.4.5.1.2 South Africa Biocomposites Market Breakdown by Product
10.4.5.1.3 South Africa Biocomposites Market Breakdown by End-Use Industry
10.4.5.2 Saudi Arabia Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.4.5.2.1 Saudi Arabia Biocomposites Market Breakdown by Fiber
10.4.5.2.2 Saudi Arabia Biocomposites Market Breakdown by Product
10.4.5.2.3 Saudi Arabia Biocomposites Market Breakdown by End-Use Industry
10.4.5.3 UAE Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.4.5.3.1 UAE Biocomposites Market Breakdown by Fiber
10.4.5.3.2 UAE Biocomposites Market Breakdown by Product
10.4.5.3.3 UAE Biocomposites Market Breakdown by End-Use Industry
10.4.5.4 Rest of Middle East and Africa Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.4.5.4.1 Rest of Middle East & Africa Biocomposites Market Breakdown by Fiber
10.4.5.4.2 Rest of Middle East & Africa Biocomposites Market Breakdown by Product
10.4.5.4.3 Rest of Middle East & Africa Biocomposites Market Breakdown by End-Use Industry
10.5 South and Central America Biocomposites Market Revenue and Forecasts to 2028
10.5.1 South and Central America Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.5.2 South and Central America Biocomposites Market Breakdown by Fiber
10.5.3 South and Central America Biocomposites Market Breakdown by Product
10.5.4 South and Central America Biocomposites Market Breakdown by End-Use Industry
10.5.5 South and Central America Biocomposites Market Breakdown, by Key Countries
10.5.5.1 Brazil Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.5.5.1.1 Brazil Biocomposites Market Breakdown by Fiber
10.5.5.1.2 Brazil Biocomposites Market Breakdown by Product
10.5.5.1.3 Brazil Biocomposites Market Breakdown by End-Use Industry
10.5.5.2 Argentina Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.5.5.2.1 Argentina Biocomposites Market Breakdown by Fiber
10.5.5.2.2 Argentina Biocomposites Market Breakdown by Product
10.5.5.2.3 Argentina Biocomposites Market Breakdown by End-Use Industry
10.5.5.3 Rest of South and Central America Biocomposites Market Revenue Forecasts to 2028 (US$ Million)
10.5.5.3.1 Rest of South and Central America Biocomposites Market Breakdown by Fiber
10.5.5.3.2 Rest of South and Central America Biocomposites Market Breakdown by Product
10.5.5.3.3 Rest of South and Central America Biocomposites Market Breakdown by End-Use Industry
11. Impact of COVID-19 Pandemic on Biocomposites Market
11.1 Impact of COVID-19 on Biocomposites Market
11.2 North America: Impact Assessment of COVID-19 Pandemic
11.3 Europe: Impact Assessment of COVID-19 Pandemic
11.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11.5 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.6 South and Central America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger & Acquisition
13. Company Profiles
13.1 TTS
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. LINGROVE
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. BCOMP LTD
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. UPM
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. FLEXFORM TECHNOLOGIES
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. TECNARO GMBH
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. FIBERON
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. ARKEMA
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. TREX COMPANY, INC.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. HEMPFLAX GROUP B.V.
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Global Biocomposites Market –Revenue and Forecast to 2028 (USD Million)
Table 2. North America Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 3. North America Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 4. North America Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 5. US Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 6. US Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 7. US Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 8. Canada Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 9. Canada Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 10. Canada Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 11. Mexico Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 12. Mexico Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 13. Mexico Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 14. Europe Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 15. Europe Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 16. Europe Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 17. Germany Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 18. Germany Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 19. Germany Biocomposites Market, by End-Use Industry– Revenue and Forecast to 2028 (USD Million)
Table 20. France Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 21. France Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 22. France Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 23. Italy Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 24. Italy Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 25. Italy Biocomposites Market, by End-Use Industry– Revenue and Forecast to 2028 (USD Million)
Table 26. UK Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 27. UK Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 28. UK Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 29. Russia Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 30. Russia Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 31. Russia Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 32. Rest of Europe Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 33. Rest of Europe Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 34. Rest of Europe Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 35. Asia Pacific Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 36. Asia Pacific Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 37. Asia Pacific Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 38. Australia Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 39. Australia Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 40. Australia Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 41. China Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 42. China Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 43. China Biocomposites Market, by End-Use Industry– Revenue and Forecast to 2028 (USD Million)
Table 44. India Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 45. India Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 46. India Biocomposites Market, by End-Use Industry– Revenue and Forecast to 2028 (USD Million)
Table 47. Japan Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 48. Japan Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 49. Japan Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 50. South Korea Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 51. South Korea Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 52. South Korea Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 53. Rest of Asia Pacific Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 54. Rest of Asia Pacific Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 55. Rest of Asia Pacific Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 56. Middle East and Africa Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 57. Middle East and Africa Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 58. Middle East and Africa Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 59. South Africa Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 60. South Africa Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 61. South Africa Biocomposites Market, by End-Use Industry– Revenue and Forecast to 2028 (USD Million)
Table 62. Saudi Arabia Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 63. Saudi Arabia Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 64. Saudi Arabia Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 65. UAE Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 66. UAE Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 67. UAE Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 68. Rest of Middle East and Africa Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 69. Rest of Middle East and Africa Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 70. Rest of Middle East and Africa Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 71. South and Central America Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 72. South and Central America Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 73. South and Central America Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 74. Brazil Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 75. Brazil Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 76. Brazil Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 77. Argentina Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 78. Argentina Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 79. Argentina Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 80. Rest of South and Central America Biocomposites Market, by Fiber – Revenue and Forecast to 2028 (USD Million)
Table 81. Rest of South and Central America Biocomposites Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 82. Rest of South and Central America Biocomposites Market, by End-Use Industry – Revenue and Forecast to 2028 (USD Million)
Table 83. Glossary of Terms, Global Biocomposites Market
LIST OF FIGURES
Figure 1. Global Biocomposites Market Segmentation
Figure 2. Global Biocomposites Market Segmentation – By Geography
Figure 3. Global Biocomposites Market Overview
Figure 4. Global Biocomposites Market, By Fiber
Figure 5. Global Biocomposites Market, by Geography
Figure 6. Global Biocomposites Market, Key Market Players
Figure 7. Porter's Five Forces Analysis
Figure 8. Ecosystem: Global Biocomposites Market
Figure 9. Expert Opinion
Figure 10. Biocomposites Market Impact Analysis Of Driver And Restraints
Figure 11. Geographic Overview of Global Biocomposites Market
Figure 12. Global Biocomposites Market – Revenue and Forecast to 2028 (USD Million)
Figure 13. Global Biocomposites Market Breakdown, by Fiber, 2021 & 2028
Figure 14. Wood Fiber Composite: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Non-wood Fiber Composite: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Global Biocomposites Market Breakdown, by Product, 2021 & 2028
Figure 17. Hybrid Biocomposite: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Green Biocomposite: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Global Biocomposites Market Breakdown, by End-Use, Industry 2021 & 2028
Figure 20. Building and Construction: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Automotive: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Consumer Goods: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Others: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Global Biocomposites Market Revenue Share, By Region (2021 and 2028)
Figure 25. North America: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. North America: Biocomposites Market Revenue Share, by Fiber (2021 and 2028)
Figure 27. North America: Biocomposites Market Revenue Share, by Product (2021 and 2028)
Figure 28. North America: Biocomposites Market Revenue Share, by End-Use Industry (2021 and 2028)
Figure 29. North America: Biocomposites Market Revenue Share, by Key Country (2021 and 2028)
Figure 30. US: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Canada: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Mexico: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Europe: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Europe: Biocomposites Market Revenue Share, by Fiber (2021 and 2028)
Figure 35. Europe: Biocomposites Market Revenue Share, by Product (2021 and 2028)
Figure 36. Europe: Biocomposites Market Revenue Share, by End-Use Industry (2021 and 2028)
Figure 37. Europe: Biocomposites Market Revenue Share, by Key Country (2021 and 2028)
Figure 38. Germany: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 39. France: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 40. Italy: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 41. UK: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 42. Russia: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 43. Rest of Europe: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 44. Asia-Pacific: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 45. Asia-Pacific: Biocomposites Market Revenue Share, by Fiber (2021 and 2028)
Figure 46. Asia-Pacific: Biocomposites Market Revenue Share, by Product (2021 and 2028)
Figure 47. Asia-Pacific: Biocomposites Market Revenue Share, by End-Use Industry (2021 and 2028)
Figure 48. Asia-Pacific: Biocomposites Market Revenue Share, by Key Country (2021 and 2028)
Figure 49. Australia: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 50. China: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 51. India: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 52. Japan: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 53. South Korea: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 54. Rest of Asia-Pacific: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 55. Middle East and Africa: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 56. Middle East and Africa: Biocomposites Market Revenue Share, by Fiber (2021 and 2028)
Figure 57. Middle East and Africa: Biocomposites Market Revenue Share, by Product (2021 and 2028)
Figure 58. Middle East and Africa: Biocomposites Market Revenue Share, by End-Use Industry (2021 and 2028)
Figure 59. Middle East and Africa: Biocomposites Market Revenue Share, by Key Country (2021 and 2028)
Figure 60. South Africa: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 61. Saudi Arabia: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 62. UAE: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 63. Rest of Middle East and Africa: Biocomposites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 64. South and Central America Biocomposites Market Revenue and Forecast to 2028 (USD Million)
Figure 65. South and Central America: Biocomposites Market Revenue Share, by Fiber (2021 and 2028)
Figure 66. South and Central America: Biocomposites Market Revenue Share, by Product (2021 and 2028)
Figure 67. South and Central America: Biocomposites Market Revenue Share, by End-Use Industry (2021 and 2028)
Figure 68. South and Central America: Biocomposites Market, by Country, 2021 & 2028 (%)
Figure 69. Brazil: Biocomposites Market – Revenue and Forecast to 2028 (USD Million)
Figure 70. Argentina: Biocomposites Market – Revenue and Forecast to 2028 (USD Million)
Figure 71. Rest of South and Central America: Biocomposites Market – Revenue and Forecast to 2028 (USD Million)
Figure 71. Impact of COVID-19 Pandemic in North America
Figure 73. Impact of COVID-19 Pandemic in Europe
Figure 74. Impact of COVID-19 Pandemic in Asia Pacific
Figure 75. Impact of COVID-19 Pandemic in Middle East & Africa
Figure 76. Impact of COVID-19 Pandemic in South & Central America
The List of Companies - Biocomposites Market
- TTS
- Lingrove
- Bcomp Ltd
- UPM
- Flexform Technologies
- Tecnaro GMBH
- Green Bay Decking
- Fiberon LLC
- Arkema
- Procotex
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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