Biocomposites Market Research Insights 2022, Size, Share, Trends, Competitive Landscape, and COVID-19 Impact Forecast tiPosted by chris on January 11th, 2023 Growing Demand for Biocomposites from Automotive Industry to Escalate Biocomposites Market Growth During 2022–2028 According to our latest market study on "Biocomposites Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Fiber (Wood Fiber Composite and Non-Wood Fiber Composite), Product (Hybrid Composite and Green Composite), and End-Use Industry (Building & Construction, Automotive, Consumer Goods, and Others),” the market is expected to grow from US$ 19,268.62 million in 2022 to US$ 46,851.39 million by 2028; it is estimated to grow at a CAGR of 16% from 2022 to 2028. The report highlights key factors driving the market growth and prominent players with their progress in the market. Biocomposite is a material formed by a matrix and a reinforcement of natural fibers, including wood, hemp, flax, jute, and sisal. The matrix material present in biocomposites can be biodegradable, nonbiodegradable, or synthetic. Synthetic matrix materials, along with natural fibers, are used to form hybrid biocomposites. The increased demand for sustainable building materials is driving the demand for biocomposites across the world. Along with this, increased demand for lightweight vehicles across the world has led to an increased demand for biocomposites, which is having a positive impact on the biocomposite market. Get Sample Copy of this Report at – https://www.theinsightpartners.com/sample/TIPRE00003222/ Major key players covered in this report: TTS, Lingrove, Bcomp Ltd., UPM, Flexform Technologies, Tecnaro Gmbh, Green Bay Decking, Fiberon LLC, Arkema, and Procotex are among the well-established players constituting the majority of the biocomposites market share. In recent years, there has been a growing demand for lightweight materials from the automotive industry to meet the required performance standards for fuel economy. Biocomposites are increasingly used in the industry as it reduces vehicle weight, which helps in improving vehicle performance and lowering CO2 emissions. According to the European Union (EU) Commission, on a yearly basis, the European automotive industry consumes 80,000 metric ton of plant and wood fibers to reinforce composite products instead of other synthetic fibers. The European Union (EU) has also emphasized using recyclable and biodegradable parts for automotive interior components. Biocomposites have better acoustic and thermal properties than the composites of nonrenewable origin, making them an ideal material to be used for manufacturing interior parts of a vehicle. Various properties of biocomposites make them suitable for the manufacture of nonstructural interior components, including seat fillers, seat backs, headliners, interior panels, and dashboards. Impact of COVID-19 Pandemic on Biocomposites Market Directly Purchase Premium Copy of Biocomposites Market Growth Report – https://www.theinsightpartners.com/buy/TIPRE00003222/ The market is segmented on the basis of fiber, product, end-use industry, and geography. Based on fiber, the market is bifurcated into wood fiber composites and non-wood fiber composites. In terms of product, the market is segmented into hybrid biocomposites and green biocomposites. Based on the end-use industry, the market is segmented into building & construction, automotive, consumer goods, and others. Reason to Buy:
About Us: The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials. Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Sameer Joshi E-mail: sales@theinsightpartners.com Phone: +1-646-491-9876 Like it? Share it!More by this author |