Published Date : Apr 04, 2018
ALBANY, New York, Apr 4, 2018 - The global biocomposites market has been envisaged in a report added by MarketResearchReports.biz to embark upon a significant growth journey due to a healthy inclination of consumers toward the use of bio-based materials. Titled “Biocomposites Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025,” the report has classified the market as per region, application, type of product, and type of material. Furthermore, the report offers a broad account of critical growth factors and market restraints followed a study of leading trends and opportunities. As per seasoned analysts, increasing awareness regarding the toxic effects of the use of non-recyclable synthetic materials on the environment could augur well for the market.
Biocomposites require natural fibers for production. With easy availability of these fibers in most parts of the world, the world biocomposites market has been foreseen to attain growth in the foreseeable future. However, the market could be hindered due to low quality and unstable cost of raw materials. The demand for biocomposites could be discouraged by their lower strength when compared to synthetic fiber composites. Nonetheless, the market has been foretold to create ample of prospects on the back of rising research and development activities conducted across the industry.
By application, the world biocomposites market has been segregated into consumer goods, furniture, electronics and electrical, construction, and automotive. Between 2017 and 2025, the market could witness the rise of the construction segment because of the improved application of biocomposites in emerging regions. However, the automotive market has been anticipated to expand at a higher growth rate due to the increasing usage of biocomposites owing to their better safety compared to traditional materials including carbon fiber and glass composites. Moreover, biocomposites do not lead to the formation of sharp-edged fractures in case of a crash.
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On the basis of type of product, the world biocomposites market has been predicted to be divided into natural fiber composites (NFCs) and wood plastic composites (WPCs). NFC could be made from kenaf, coir, hemp, flax, and wood, whereas WPC could be a combination of wood and polypropylene, polyvinyl chloride, and polyethylene. In terms of type, the market could witness the rise of wood as a segment with higher growth and flax as a faster-growing segment until the end of the forecast tenure. Excellent binding properties and easy of availability of wood could help the segment to showcase a leading growth in the market.
By region, the international biocomposites market has been envisioned to find Asia Pacific taking hold of a lion’s share by the completion of 2025. Furthermore, this region could register a higher growth rate during the course of the forecast period. Some of the factors helping the region to dominate the market could be rapid industrialization and rising population. The regional market is also projected to take advantage of the swelling demand for biocomposites in end-use industries such as consumer goods, automotive, and construction. The automotive industry in Europe could also push the growth of the developed region in the coming years.
The strong presence of manufacturers in North America could prove to be important for the growth of the region in the international biocomposites market. The report has also studied other regions such as Latin America and the Middle East and Africa. Players such as FlexForm Technologies, Green Bay Decking LLC, and UPM could make their presence known in the market.
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