Bio-Composites Market Set for Rapid Growth During 2022-2027
The Bio-Composites Market is Segmented by End-Use Type (Building and Construction, Automotive, Industrial and Consumer Goods, and Others), by Process Type (Extrusion, Compression Molding, Injection Molding, and Others), by Resin Type (Polyethylene, Polypropylene, Polyvinyl Chloride, Polylactic Acid, and Others), by Fiber Type (Wood Flour, Flax, Kenaf, Hemp, Jute, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
What is a Bio-Composites Market?
Bio-composite is basically a composite material which is formed by a matrix and a reinforcement of natural fibers. In this material, either one of the matrix and reinforcement components or both are from bio-based origins. Environmental concerns and the high cost of synthetic fibers have resulted in an increased utilization of natural fiber as reinforcement, which is likely to drive the bio-composites market in the coming years.
Market Dynamics
Bio-composites find various applications, ranging from household articles to automobiles, eventually resulting in an increased product demand. Growing demand for wood plastic composites in the construction industry and increasing utilization of natural fiber composites in automotive interiors are some of the key factors expected to drive the market growth during the forecast period. Overall, the bio-composites market is likely to rebound at a healthy CAGR of 3.5% during the forecast period.
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Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Bio-Composites Market analysis report discusses the following heads in details:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- COVID-19 Impact Assessment.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players
- Key success factors.
Regional Analysis
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing region in the market for bio-composites during the forecast period with Japan, India and China being the growth engines of the region. Furthermore, growing demand for wood plastic composites decking, fencing, and railing in the building and construction industry is expected to accelerate the regional market growth over the forecast period.
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