Global Biocomposites Market Forecasted to Surge at a Notable CAGR of 9.46% during Forecast Period of 2017-2025


Published on : Mar 15, 2018

Albany, New York, March 15, 2018: An up-to-date research study, based on global demand for biocomposites has been broadcasted to the wide database of Market Research Hub (MRH). The study is titled as “Biocomposites Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025”, which accurately predicts the future of the market and also gives an overview of the present market situation. Additionally, Porter’s Five Forces model for the biocomposites market has also been included to help understand the competitive landscape in the market.

Key Insights and Geographical Expansion

Bio composites are composite materials formed by a biopolymer matrix and reinforcement of natural fibers. They are most suitable materials profound in nature for their use in various fields due to their eco-friendly advantages. In this study, the research presents precise market overview covering biocomposites introduction and key market indicators. According to the research key findings, the global biocomposites market was valued at US$4,730.4 mn in 2016 and is projected to reach US$10,549.4 mn by 2025, exhibiting a CAGR of 9.46% from 2017 to 2025.

Further, it also offers holistic insights on the growth of the global biocomposites market. The key driving factors have been analyzed in detail, and the restraints, opportunities, and threats have also been discussed. It has been analyzed that the global market for biocomposites has expanded at a promising pace in the past few years and continues to embark upon a healthy growth path, owing to the increased level of awareness among consumers regarding the need to choose bio-based materials instead of the environmentally harmful, non-recyclable synthetic materials.

Geographically, the report covers the global biocomposites market across regions such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The report has found that easy availability of natural fibers required for the production of biocomposites. From a geographical point of view, Asia Pacific held the dominant share of the global biocomposites market in 2016. The regional market is likely to exhibit a steady pace of expansion in the coming years also, due to the increasing demand for biocomposites from the region's construction, automotive, and consumer goods end-use industries.

Moving further, the report offers segment-wise analysis and forecast, segmenting the market on the basis of product type and applications. By type, the biocomposites market can be classified on the basis of material type, which includes wood, flax, hemp, coir, kenaf, polyethylene, polyvinyl chloride, polypropylene and others segments. On the basis of application, steady expansion of key end-use industries such as automotive and construction is also expected to work well in favor of the global biocomposites market in coming years.

As the report concludes, readers are offered information about the competitive landscape, which details about the various players active in the market. Key market players in the global biocomposites market include Tecnaro GmbH, UPM, Huangshan Huasu New Material Science & Technology Co., Ltd., Green Bay Decking LLC, Newtechwood, Meshlin Composites ZRT, FlexForm Technologies, JELU-WERK J. Ehrler GmbH & Co. KG, Universal Forest Products, Inc., Fiberon, LLC, Al.P.A.S. Srl, Nanjing Jufeng Advanced Materials Co., Ltd among others. LLC,

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