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, and industrial & consumer goods industries. The global bio-composites market is expected to reach an estimated $9.5 billion by 2027 with a CAGR of 3.4% from 2021 to 2027. 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.
In this market, polyethylene resin will remain the largest end use segment over the forecast period due to durability, near-zero moisture absorption, excellent chemical inertness, and ease of processing. Polylactic acid is also expected to witness the highest growth over the forecast period
Within the bio-composites market, building and construction, automotive, industrial and consumer goods are the major type end use of bio-composites. Lucintel forecasts that building and construction will remain the largest segment over the forecast period due to increasing demand for moisture resistance, low maintenance, non-toxic, and durable products. Industrial & consumer goods is expected to witness the highest growth over the forecast period
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing demand for WPC decking, fencing, and railing in the building and construction industries of China, India, and Japan.
Emerging trends, which have a direct impact on the dynamics of the bio-composites industry, include the emergence of new applications, and government support to innovate and commercialize the use of bio-based composites. FlexForm Technologies LLC, Technaro GmbH, Trex Company Inc., Azek Building Products, Procotex Corporation SA are the major manufacturers of bio composites.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global bio-composites market by end use, process, resin, fiber, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Bio-Composites Market 2022-2027: 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, process, resin, fiber, and region as follow:
By End Use [Value ($B) and Volume (Million Pounds) and shipment analysis for 2016 – 2027]:
Automotive
Building and construction
Industrial and Consumer Goods
Others
By Process [Value ($B) and Volume (Million Pounds) shipment analysis for 2016 – 2027]:
Extrusion
Compression Molding
Injection Molding
Others
By Resin [Value ($B) and Volume (Million Pounds) shipment analysis for 2016 – 2027]:
Polyethylene
Polypropylene
Polyvinyl Chloride
Polylactic acid
Others
By Fiber Type [Value ($B) and Volume (Million Pounds) shipment analysis for 2016 – 2027]:
Wood Flour
Flax
Kenaf
Hemp
Jute
Others
By Region [Value ($B) and Volume (Million Pounds) shipment analysis for 2016 – 2027]:
North America
Europe
Asia Pacific
The Rest of the World
This 241-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 www.lucintel.com/bio-composites-market.aspx helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the bio-composites market by end use (building & construction, automotive, industrial & consumer goods, and others), process (extrusion, compression molding, injection molding, and others), resin (polyethylene, polypropylene, polyvinyl chloride, polylactide acid and others), fiber (wood flour, flax, kenaf, hemp, jute and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?