Market Overview

Biocomposites: World Market Forecast to 2026 - A $79.29 Billion Opportunity - ResearchAndMarkets.com

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The "Biocomposites
- Global Market Outlook (2017-2026)"
report has been added to ResearchAndMarkets.com's
offering.

According to the report, the market accounted for $20.14 billion in 2017
and expected to grow at a CAGR of 16.4% to reach $79.29 billion by 2026.

The increasing awareness among the customers to opt for the bio-based
materials rather than harmful synthetic material and the recyclable
property of the material are driving the market growth. However, the
fluctuating pricing and less availability of materials hamper the market
growth. The market also witness growth opportunities from the packaging
and automotive interiors segment.

Based on fiber type, wood fiber composites are gaining popularity due to
their applications in the outdoor construction activities such as
decking, balusters, fencing, railing and other activities. In addition
wood fibers are lightweight, resistant to moisture & mildew resulting in
their negligible maintenance and longer product shelf life. This
escalating requirement for lightweight, moisture resistant, and cost
economic products in the building & construction end-use industry is
expected to drive the wood fiber composites market.

By application, the transportation sector is growing at a great pace. In
transportation, the Biocomposites are used in automotive industry due to
its properties and special features such as lightweight, impact
resistance, and non-toxic features. In addition Biocomposites are
considered much safer when compared to other traditional & conventional
materials such as glass or carbon fiber composites owing to the fact
that no sharp-edged fractures are formed in case of a crash. As there is
an increase in demand for materials with such advantages in the
transportation industry and can drive the market growth for the
Biocomposites market and can create much better opportunities.

Companies Profiled

  • UPM
  • Universal Forest Products Inc.
  • Trex Company Inc.
  • Tecnaro GmbH
  • NewTechWood
  • Jelu - Werk J.Ehrler GmbH & Co. KG
  • Greengran BV
  • Green Bay Decking
  • FlexForm Technologies LLC
  • Advanced Environmental Recycling Technologies Inc.
  • Fiberon LLC
  • ALPAS Srl
  • Bcomp Ltd.
  • Meshlin Composites ZRT

For more information about this report visit https://www.researchandmarkets.com/research/c5sq5s/biocomposites?w=4

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