Bio-Composites Market: Trends, Opportunities and Competitive Analysis [2024-2030]

Bio-Composites Market Trends and Forecast

The future of the global 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 $7 billion by 2030 with a CAGR of 2% from 2023 to 2030. 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.

Emerging Trends in the Bio-Composites Market

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.

A total of 121 figures / charts and 118 tables are provided in this 212-page report to help in your business decisions. A sample figure with insights is shown below.

Bio-Composites Market by Segment

The study includes a forecast for the global bio-composites market by end use, process, resin, fiber, and region as follows:

Bio-Composites Market by End Use [Value ($B) and Volume (Million Pounds) Shipment Analysis for 2018 – 2030]:

• Building and Construction
• Automotive
• Industrial and Consumer Goods
• Others

Bio-Composites Market by Process [Value ($B) and Volume (Million Pounds) Shipment Analysis for 2018 – 2030]:

• Extrusion
• Compression Molding
• Injection Molding
• Others

Bio-Composites Market by Resin [Value ($B) and Volume (Million Pounds) Shipment Analysis for 2018 – 2030]:

• Polyethylene
• Polypropylene
• Polyvinyl Chloride
• Polylactic Acid
• Others

Bio-Composites Market by Fiber [Value ($B) and Volume (Million Pounds) Shipment Analysis for 2018 – 2030]:

• Wood Flour
• Flax
• Kenaf
• Hemp
• Jute
• Others

Bio-Composites Market by Region [Value ($B) and Volume (Million Pounds) Shipment Analysis for 2018 – 2030]:

• North America
• US
• Europe
• German
• UK
• France
• Russia
• Asia Pacific
• China
• India
• Japan
• The Rest of the World
• Brazil

List of Bio-Composites Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies bio-composites companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the bio-composites companies profiled in this report includes.

• FlexForm Technologies
• Tecnaro GmbH
• Trex Company Inc.
• Azek Building Products
• Procotex Corporation SA
• Fiberon LLC
• GreenGran BV
• FiberGran GmbH & Co. KG
• Universal Forest Products, Inc.
• Tamko Building Products
• Advanced Environmental Recycling Technologies

Bio-Composites Market Insight

• 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.
• Polyethylene resin bio-composites will remain the largest resin type over the forecast period due to durability, near-zero moisture absorption, excellent chemical inertness, and ease of processing.
• 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

Features of Bio-Composites Market

• Market Size Estimates: Bio-composites market size estimation in terms of value ($B) and volume (M lbs)
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Market size by end use, process, resin, fiber and region
• Regional Analysis: Bio-composites market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different end use, process, resin, fiber and region for the bio-composites market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the bio-composites market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the bio-composites market size?

Answer: The global bio-composites market is expected to reach an estimated $7 billion by 2030.

Q2. What is the growth forecast for bio-composites market?

Answer: The bio-composites market is expected to grow at a CAGR of 2% from 2023 to 2030.

Q3. What are the major drivers influencing the growth of the bio-composites market?

Answer: 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.

Q4. What are the major applications or end use industries for thermoplastic resin in global automotive composites?

Answer: Building & construction and automotive are the major applications industries for global bio composites market.

Q5. What are the emerging trends in bio-composites market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, includes development of hybrid type auto parts, and integration of operational capabilities.

Q6. Who are the key bio-composites companies?

Answer: Some of the key bio-composites companies are as follows:

• FlexForm Technologies
• Tecnaro GmbH
• Trex Company Inc.
• Azek Building Products
• Procotex Corporation SA
• Fiberon LLC
• GreenGran BV
• FiberGran GmbH & Co. KG
• Universal Forest Products, Inc.
• Tamko Building Products
• Advanced Environmental Recycling Technologies

Q7.Which bio-composites material segment will be the largest in future?

Answer: 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.

Q8: In bio-composites market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to remain the largest region and witness the highest growth over next 5 years

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

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 and construction, automotive, industrial and 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?

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