Biocomposites Market Scope And Analysis

Report Code : TIPRE00003222
Category : Chemicals and Materials

Status : Published
No. of Pages : 150

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Biocomposites Market Analysis, Trends, and Scope 2023 to 2028

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Biocomposites Market Report Scope

Report Attribute	Details
Market size in 2022	US$ 19.27 Billion
Market Size by 2028	US$ 46.85 Billion
Global CAGR (2022 - 2028)	16%
Historical Data	2020-2021
Forecast period	2023-2028
Segments Covered	By Fiber Wood Fiber Composite Non-Wood Fiber Composite By Product Hybrid Biocomposite Green Biocomposite By End Use Building and Construction Automotive Consumer Goods
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	TTS Lingrove Bcomp Ltd UPM Flexform Technologies Tecnaro GMBH Green Bay Decking Fiberon LLC Arkema

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.