Opportunities for the bio-composites market to reach $8.2 billion by 2024


   September 23, 2019
According to a new market report published by Lucintel, the future of the bio-composites market looks promising with opportunities in building and construction, automotive, industrial & consumer goods industries. The global bio-composites market is expected to reach an estimated $8.2 billion by 2024 and is forecast to grow at a CAGR of 7.5% from 2019 to 2024. Some of the products made with bio-composites are decking, railing fencing, cladding, door panels, and dashboard. The market for end Products made with bio-composites is expected to reach an estimated $12.2 billion by 2023. The major growth drivers for this market are increasing demand for Wood Plastic Composites (WPC) in the construction industry due to its wood finish like appearance and durability, and growing use of Natural Fiber Composites (NFC) in automotive interiors due to its aesthetics and growing concern for passenger safety.

Browse 128 market data tables and 138 figures spread through 212 pages and in-depth TOC on “Bio-Composites Market"

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In this market, building and construction, automotive, and consumer & industrial goods are the major end use industries. Lucintel forecasts that the largest end use industry will be building and construction, and it is also expected to witness the highest growth during the forecast period. Increasing demand for moisture resistance, low maintenance, non-toxic, and durable products are the major requirements driving growth for this segment over the forecast period.

By process type, extrusion, compression, and injection molding processes are used to produce bio-composites end products such as deck, fencing, railing, etc. The extrusion process is expected to remain the largest segment and witness the highest growth in the forecast period because it offers high volume production at low-cost with efficient melting of resin in the process.

By resin type, polyethylene resin based bio-composites is expected to remain the largest segment and witness the highest growth in the forecast period because of durability, near-zero moisture absorption, excellent chemical inertness, and ease of processing.  

By fiber type, wood flour based bio-composites is expected to remain the largest segment by value and volume over the forecast period. The increasing demand for WPC decking, fencing, and railing in building and construction industry will drive demand over the forecast period.

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North America is expected to remain the largest market by value and volume. Asia-Pacific is expected to witness the highest growth over the forecast period because of increasing demand for WPC decking, fencing, and railing in the building and construction industries of China, India, and Japan.

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Emerging trends, which have a direct impact on the dynamics of the industry, include the emergence of new applications, and government support to innovate and commercialize the use of bio-based composites. Trex, Azek Building Products, Fiberon LLC, AERT, UFP, Tamko Building Products, FlexForm Technologies, Technaro GmbH, Procotex Corporation, GreenGran BV, and FiberGran GmbH are among the major suppliers for the global bio-composites market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global bio-composites resin market by end use industry, process, resin, fiber and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Bio-Composites Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global bio-composites market by end use industry, process, resin, fiber, and region as follows:

Bio-Composites Market by End Use Industry [Volume (M lbs) and $M shipment analysis for 2013–2024]:



  • Building and Construction


  • Automotive


  • Industrial and Consumer Goods


  • Others


Wood Plastic Composites Market by End Use Industry [Volume (M lbs) and $M shipment analysis for 2013–2024]:



  • Building and Construction


  • Automotive


  • Industrial and Consumer Goods


  • Others


Wood Plastic Composites Market by Building & Construction Application [Volume (M lbs) and $M shipment analysis for 2013–2024]:



  • Decking


  • Fencing


  • Railing


  • Others


Natural Fiber Composites Market by End Use Industry [Volume (M lbs) and $M shipment analysis for 2013–2024]:



  • Automotive


  • Building and Construction


  • Others


Bio-Composites Market by Process Type [Volume (M lbs) and $M shipment analysis for 2013–2024]:



  • Extrusion


  • Compression Molding


  • Injection Molding


  • Others


Bio-Composites Market by Resin Type [Volume (M lbs) and $M shipment analysis for 2013–2024]:



  • Polyethylene


  • Polypropylene


  • Polyvinyl chloride


  • Polylactide Acid


  • Others


Bio-Composites Market by Fiber Type [Volume (M lbs) and $M shipment analysis for 2013–2024]:



  •  Wood Flour


  • Flax


  • Kenaf


  • Hemp


  • Jute


  • Others


Bio-Composites Market by Region [Volume (M lbs) and $M shipment analysis for 2013–2024]:



  • North America


  • US


  • Europe


  • Germany


  • United Kingdom


  • France


  • Russia


  • Asia Pacific


  • China


  • India


  • Japan


  • Rest of the World


  • Brazil


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This 212-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/bio-composites-market.aspx or helpdesk@lucintel.com.

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