By 2028, the global Bio-Composites market is expected to grow impressively due to increasing demand from the building & construction industry. In 2021, Biocomposite production in Europe stood at roughly 436 thousand metric tonnes.
Biocomposites are made of natural fibers such as hemp, wood, paper industry waste, jute, and flax in the polymer matrix. Because of the greater use of natural fiber as reinforcement and the high cost of synthetic fibers, the market for bio-composites is expected to grow over the next several years. Additionally, rising demand in the automotive sector to increase the safety of passengers and reduce the weight of a vehicle is expected to increase the market demand.
Furthermore, In January 2022, the U.S. Department of Energy (DOE) announced that it would invest USD 13.4 million in next-generation plastic materials technologies to decrease single-use plastics’ energy use and carbon emission levels and according to the E.U. Commission, annually, the European automotive industry uses 80,000 tonnes of fibers rather than substitute synthetic fibers to reinforce composite items; therefore the global bio-composites market is expected to rise in the forecast period.
Growing Demand from Building & Construction
In the building sector, biocomposites are increasingly employed for wall sheathing, roofing, and flooring. For the same price, these composites provide goods with more excellent durability than conventional wood or steel ones. Biocomposites may be produced with varying degrees of fire resistance in addition to their physical characteristics, making it feasible to utilize them as exterior cladding on buildings or even roofs without harming safety. In addition, biocomposites are also used in the restoration and renovation of various structural parts. Due to excellent thermal & auditory properties, they are also used as insulating & soundproof materials. Thus, the demand for biocomposites will likely grow globally during the forecast period.
Furthermore, concerning government rules regarding sustainable building materials, biocomposites play a vital role because they help to eliminate nonrenewable waste, reduce raw material utilization, cut fossil fuel consumption, and replace synthetic fiber-reinforced composites; all these factors driving the biocomposites market growth.
High Demand from the Transportation Segment
Biocomposites are being used more often in cars and trucks. Automobiles are utilized for nonstructural parts like interior panels and exterior parts. They assist manufacturers in cutting costs and reducing the weight of cars. Using these materials rather than metals or alloys decreases the risk of harm to passengers in the event of an accident. In addition, biocomposites are utilized in various automotive applications, including creating environmentally friendly vehicles, using automotive pistons, and developing anti-roll bar brake friction materials for medium-duty and low-velocity impact applications; these are some significant factors that are anticipated to increase the growth of the biocomposites market.
Moreover, ongoing vehicle technological advancement and increasing focus on the use of more sustainable and environmentally friendly vehicles in the form of E-vehicles are raising the demand for bio-composites in the upcoming years.
Increasing Demand from Defence and Aerospace Sector
An unusual demand for bio-based products will result from the aerospace and defense industries’ need for biocomposites. Currently, the usage of biocomposites is increasing in the aerospace industry to produce aircraft equipment, which necessitates cutting-edge composites that can maintain the product; all these factors are expected to increase the growth of the biocomposites market in the projected period.
Recent Developments
- In April 2022, INCA Renewtech announced to manufacture of a 2,00,000-square-foot fibers processing & composites production facility in Vegreville, Alberta.
- The Tepex series of continuous-fiber-reinforced thermoplastic composites were introduced by LANXESS in October 2021. It combines textiles from natural flax fibers with bio-based polylactic acid as matrix materials. The only natural resources used in the development of this bio-composite.
- In October 2021, a broad selection of sustainable/natural bio-composites will be introduced by Retrac Group, a recognized composites expert in the UK.
- For the treatment of infections in the bones and soft tissues, Biocomposites, a global medical device firm, produces and manufacture industry-leading solutions in July 2021.
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Market Segmentation
Global Bio-Composites Market is segmented based on fiber type, polymer type, product, end user, and region. Based on the fiber type, the market is categorized into wood and Non-wood. Based on the polymer type, the market is segmented into Natural and Synthetic. Based on the product, the market is divided into Hybrid and Green. Based on the end user, the market is fragmented into transportation, building & construction, consumer goods, and others. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, Middle East & Africa.
Market Players
Stora Enso Oyj, UPM-Kymmene Corporation, Tecnaro GmbH, BioComposites Group, Green Dot Bioplastics Inc, Retrac Group Limited, A.B.Composites Pvt.Ltd., Winrigo (S) Pte Ltd, Anhui Guofeng Wood-Plastic Composite Co., Ltd., Meshlin Composites Zrt. are some of the key players of the Global Bio-Composites Market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Fiber Type· Polymer Type· Product· End User |
| Regional scope | North America, Europe, Asia Pacific, South America, Middle East & Africa |
| Country scope | United States, Mexico, Canada, France, Germany, United Kingdom, Italy, Russia, China, India, South Korea, Japan, Australia, Malaysia, Indonesia, Thailand, Brazil, Argentina, South Africa, Saudi Arabia, UAE |
| Key companies profiled | Stora Enso Oyj, UPM-Kymmene Corporation, Tecnaro GmbH, BioComposites Group, Green Dot Bioplastics Inc, Retrac Group Limited, A.B.Composites Pvt.Ltd., Winrigo (S) Pte Ltd, Anhui Guofeng Wood-Plastic Composite Co., Ltd., Meshlin Composites Zrt. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, the global bio composites market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
- Bio-Composites Market, By Fiber Type:
- Wood
- Non-Wood
- Bio-Composites Market, By Polymer Type:
- Natural
- Synthetic
- Bio-Composites Market, By Product:
- Hybrid
- Green
- Bio-Composites Market, By End User:
- Transportation
- Building & Construction
- Consumer Goods
- Others
- Bio-Composites Market, By Region:
- North America
- United States
- Mexico
- Canada
- Europe
- France
- Germany
- United Kingdom
- Italy
- Russia
- Asia-Pacific
- China
- India
- South Korea
- Japan
- Australia
- Malaysia
- Indonesia
- Thailand
- South America
- Brazil
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- North America
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in the global bio-composites market.