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Biocomposites Market Growing at Healthy CAGR over Forecast 2019 to 2030 | UPM, Trex Company, FlexForm Technologies

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Market Size – USD 24.40 Billion in 2021, Market Growth – at a CAGR of 15.7%, Market Trends – Significant investments in research & development activities

Increasing forest and wood industries and rising demand for more eco-friendly materials are key factors driving biocomposites market revenue growth

— Emergen Research

VANCOUVER, BC, CANADA, June 2, 2022 /EINPresswire.com/ — The global biocomposites market size reached USD 24.40 Billion in 2021 and is expected to register a revenue CAGR of 15.7% during the forecast period, according to latest analysis by Emergen Research. Global shift toward bio-based circular economy is a key factor driving market revenue growth. Rising demand for biocomposites from the healthcare industry is another major contributor to market revenue growth. Increasing demand is primarily due to the diversity of polymers and the use of biocomposites in bone tissue engineering. Biocomposites are versatile and have various material properties. The materials are usually formed by combination of two or more distinct constituent materials and result in a new material with improved performance. Biocomposites are designed to mimic the hybrid architecture of native bone while also facilitating mechanically compatible and osteoinductive scaffolds for bone tissue engineering applications. Increasing application in bone tissue engineering is mainly due to major players in the industry entering into long-term agreements and collaborating with medical device companies to develop systems that reduce the time required to prepare biocomposite materials and improve their performance in bone healing. For example, on 4 April 2022, Biocomposites, which is a leading manufacturer of medical products based in the U.K., signed an agreement with Zimmer Biomet, which is a leading manufacturer of medical technologies based in the U.S., to maximize mobility and improve patient health.

The latest and updated research report on the Global Biocomposites Market Market covers a comprehensive overview of the Biocomposites Market market, future economic condition, competitive landscape mapping, supply and demand trends, and production and consumption analysis. The report also covers the influence of the COVID-19 pandemic on the Biocomposites Market market. The pandemic has dynamically affected all aspects of life on a global scale along with drastic changes in the economy and market conditions. The report covers the currently fluctuating market scenario along with present and future assessment of the COVID-19 impact. The report encompasses the historical data, company overview, financial standing, and necessary information about the new and key players of the market.

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Some Key Highlights From the Report
Roselle Fiber segment accounted for moderate revenue share in 2021. Increasing demand from the automotive industry and significant investments by major market players in expanding existing manufacturing capabilities are major factors driving this segment’s growth. In addition, increasing demand can also be attributed to their highly specific material properties. For instance, roselle fiber exhibits excellent thermo-mechanical properties and has a high strength-to-weight ratio. Its corrosion inhibiting properties play a major role in automotive and aerospace applications. Moreover, due to high compressive strength and hardness value, the materials are ideal for structural applications.

Polypropylene (PP) segment accounted for a significantly robust revenue share in 2021. Increasing demand from the packaging industry is a major factor driving revenue growth of the segment. PP is a lightweight material with a variety of superior properties. For instance, PP is resistant to a variety of chemical solvents and acids. This polymer material also has high tensile strength and low moisture resistance. As a result, major packaging companies are making significant investments in these materials and the materials are being incorporated in food and beverage packaging. Moreover, PP reduces the possibility of food deterioration and enhances shelf life.

Automotive segment accounted for a significantly large revenue share in 2021. Increasing focus on reducing greenhouse gas emissions and scarcity of petroleum are key factors driving demand for lightweight raw materials and products and is supporting revenue growth of the automotive segment. Biocomposites materials with properties such as high strength and low weight make these ideal for a variety of applications in the automotive industry. In addition, it enables automotive manufacturers to effectively address the aforementioned challenges. Biocomposite materials are primarily used in the production of non-structural interior components in vehicles such as wood trim, seat fillers, seat backs, headliners, interior panels, dashboards, and thermoacoustic insulation. Biocomposites used in automotive industry mainly constitute natural fibers extracted from flax, hemp, jute, and sisal. This is due to antimicrobial properties and extended durability.

The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.

Prominent Players Analyzed in the Report:

UPM, Trex Company, Fiberon, FlexForm Technologies, Nanjing Jufeng Advanced Materials Co., Ltd., Meshlin Composites Zrt, Tecnaro GmbH, HempFlax Group B.V., Trifilon, Fasal Wood GmbH, Addiplast Group, and Transmare Compounding.

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Furthermore, the report divides the Biocomposites Market market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.

Emergen Research has segmented global biocomposites market on the basis of fiber type, polymer type, end-use, and region:

Fiber Type Outlook (Revenue, USD Billion; 2019-2030)
Roselle Fiber

Kenaf Fiber

Flax Fiber

Ramie Fiber

Others

Polymer Type Outlook (Revenue, USD Billion; 2019-2030)
PP

PE

PA

PLA

Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)
Building & Construction

Automotive

Medical

Consumer Goods

Others

The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2020-2027. According to the regional analysis, the market is primarily spread over key geographical regions as follows:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.

Overview of the Biocomposites Market Market Report:

Introduction, Product Scope, Market Overview, and Opportunities

Analysis of the Manufacturers with sales, revenue, and price analysis

Comprehensive analysis of the competitive landscape

Extensive profiling of the key competitors along with their business strategies and market size

Regional analysis of the market along with sales, revenue, market share, and global position

Country-wise analysis of the market along with types, applications, and manufacturing

Strategic recommendations to established players as well as new entrants

In-depth analysis of the risks, restraints, and limitations in the Biocomposites Market industry

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Biocomposites Market Growing at Healthy CAGR over Forecast 2019 to 2030 | UPM, Trex Company, FlexForm Technologies 1