Reports and Data estimates the global Biocomposites competitive landscape is highly fragmented with numerous players operating on a global and regional scale. The key companies in the market are engaged in mergers and acquisitions, joint ventures, collaborations, and product launches to gain a robust revenue growth over the forecast period. The report considers 2020-2021 as historic years, 2020 as the base year, and 2022-2027 as the forecast period. The report offers CAGR and market size for the global Biocomposites during the forecast period.
The report also offers key insights about the top companies operating in the market and their market share and global position along with product portfolio and advancements. The top companies in the market include Huntsman Corporation, Mitsubishi Plastics, Inc., Fiberon LLC, FlexForm Technologies, LLC, Universal Forest Products Inc., Bioworks, Inc., Stemergy, Procotex, Fiberon LLC, ALPAS Srl, NewTechWood, Green Bay Decking, Arkema, Procotex, Tecnaro GmbH, and Bast Fibers LLC, among others
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Biocomposites Overview :-
The Global Biocomposites Market is projected to grow at a CAGR of 10.8% from USD 22.43 billion in 2019 to USD 51.32 billion in 2027. The industry is driven by critical factors such as increasing consciousness among people about eco-friendly products, and government policies to substitute plastics with biodegradable and environmentally-friendly alternatives are major market growth trends. Biocomposites are one of the prime materials used in the automotive industry, as they provide properties for weight reduction, anti-damping, and impact absorption. The increasing demand for lightweight vehicles, combined with rising demand for electric cars worldwide, is expected further to boost the global biocomposites market in the forecast period.
Biocomposites provide the atmosphere and businesses with greater health and safety. It helps to reduce the emission of volatile organic compounds, reducing manufacturing energy consumption, and toxicity. Biocomposites are also used in basic research because of their increased renewability, affordability, recyclability, and, most importantly, their biodegradability.
The significant benefits offered by biocomposites are lightweight and biodegradable, which are also key reasons behind their recent success among producers and consumers. Plastic waste is a vexing problem that plagues most parts of the world. Plastic is something that is not degradable and does not decompose for centuries. Governments worldwide are imposing stringent rules on plastic use and promoting environmentally friendly alternatives to tackle this problem. That will certainly help the market significantly over the forecast period.
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For the purpose of this report Reports and Data has segmented global Biocomposites market on the basis of type, application, and region:
Product Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Green
- Hybrid
Manufacturing Process Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Compression Molding
- Injection Molding
- RTM
- Others
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Construction
- Transportation
- Consumer Goods
- Electronics Electrical
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
- What is the expected year-on-year growth of the Biocomposites during the forecast period?
- What key trends are expected influence revenue growth of the market going ahead?
- Which region is expected to account for largest revenue share over the forecast period?
- Which key companies are profiled in the report?
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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