Pune, Maharashtra -- (SBWIRE) -- 10/12/2022 -- To provide fuel or feedstock that is sustainable and degradable, biocomposites are structural materials manufactured from renewable resources that biodegrade in an anaerobic environment beyond their useful service life. The environment won't be harmed with the simple disposal of these composites. These are mostly utilized to extend the shelf-life of products due to their resilience. In applications ranging from automotive and building materials to clothing and recreational products, biocomposite materials made from natural fibers and/or bio-based resins are gaining ground.
As per the recent report by SNS Insider, the biocomposites market is expected to cross USD 2.13 billion by 2028, with a CAGR of 4.5% during the forecast period of 2022–2028.

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Drivers, Restraints, Opportunities, and Challenges
Growing demand from end-user industries like the automotive and construction sectors is one of the main development drivers for the global biocomposites market. Another significant aspect that will propel the global biocomposites market during the forecast period is the rising significance of renewable energy sources. Furthermore, increased usage of bio-based composites in a variety of applications is required by efficiency standards to lower the consumption of fossil fuels by buildings and automobiles. This trend offers producers the chance to capitalize on the enormous market for eco-friendly products, creating annual income prospects worth billions of dollars.

For the design and construction end-use industry, structural effectiveness is a significant obstacle; nevertheless, different natural fibers have unique characteristics, such as resilience, toughness, fiber length, and cross-sectional area, depending on the conditions under which they are created. The largest challenge is maintaining consistency throughout the production process because biocomposites are incredibly reliant on the availability and caliber of the natural fibers that are purchased.

Impact of the COVID-19 Pandemic
The COVID-19 pandemic has reached practically all of the world's nations. A drop in demand across several end-use industries has had a detrimental impact on the biocomposites market. The demand for biocomposites has been badly impacted by the prolonged lockdown because construction operations have been halted, even though biocomposites are primarily used in the building and construction industry.

Market Segmentation
By Fiber Type:
1.Wood Fiber Composites
2.Non-wood Fiber Composites

By Polymer Type:
1.Natural Polymer Composites
2.Synthetic Polymer Composites

By Product:
1.Hybrid Biocomposites
2.Green Biocomposites

By End-Use Industries:
1.Building & Construction
2.Transportation
3.Consumer Goods
4.Others

The wood fiber composite segment is anticipated to experience significant growth throughout the projection period, based on type. Among other items, these biocomposites are used to create floors, handrails, balusters, and fences. Composites made of non-wood fiber are less expensive than those made of the wood fiber.
The natural polymer composites segment is anticipated to experience faster growth over the course of the projection period in terms of polymer type. Since natural polymers have superior density, toughness, recyclability, tensile strength, and biodegradability to regularly used reinforcing fibers like glass fibers, their demand is increasing more quickly.
The building and construction industry makes up a significant portion of the global biocomposites market in terms of end-use industries. Due to the uses for biocomposites in the production of decking, balusters, railing, doors, windows, and other items, this market sector holds the lion's share.

Regional Analysis
Wood fiber composites have a wide range of uses in manufacturing and window frames, which is expected to significantly increase demand in the US throughout the projection period. The increasing demand for bio-based polymers in landscaping and street construction is also anticipated to fuel product demand. The Asia-Pacific region is experiencing the greatest growth in the global biocomposites market due to rising demand for residential and commercial construction due to rising per capita income and increased industrialization. Additionally, as biocomposites can substitute plastic, rising concern over plastic reduction is promoting the demand for these materials.

Competitive Landscape Outlook
Some of the prominent companies present in the biocomposites market are Advanced Environmental Recycling Technologies, Inc., MCG Biocomposites, LLC, Nanjing Xuha Sundi New Building Materials, Ltd., Green Dot Holding LLC, B.COMPOSITES PVT.LTD., Lingrove, LLC, and Anhui Guofeng Wood-Plastic Composite Co., Ltd., and other players.

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Table Of Content
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
 
2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact Of Ukraine-Russia War

5. Value Chain Analysis

6. Porter's 5 Forces Model

7. PEST Analysis

8.Biocomposites Market Segment, By Fiber Type:
8.1 Wood Fiber Composites
8.2 Non-Wood Fiber Composites

9.Biocomposites Market Segment, By Polymer Type:
9.1 Natural Polymer Composites
9.2 Synthetic Polymer Composites

10.Biocomposites Market Segment, By Product:
10.1 Hybrid Biocomposites
10.2 Green Biocomposites
 
11.Biocomposites Market Segment, By End-Use Industries:
11.1 Building & Construction
11.2 Transportation
11.3 Consumer Goods
11.4 Others

12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest Of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest Of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12. 6.1 Brazil
12.6.2 Argentina
12. 6.3 Rest Of Latin America
 
13. Company Profile
13.1  Lingrove, LLC (U.S.)
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS View
13.2 Green Dot Holding LLC (U.S.), Yixing
13.3 MCG Biocomposites, LLC (U.S.)
13.4 Bcomp Ltd.(Switzerland)
13.5 Hualong New Material Lumber Co. Ltd. (China)
13.6 Anhui Guofeng Wood-Plastic Composite Co., Ltd. (China)
13.7 Nanjing Xuha Sundi New Building Materials , Ltd. (China)
13.8 B.COMPOSITES PVT.LTD. (India)
13.9 Advanced Environmental Recycling Technologies, Inc.(U.S.)
 
14.Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
 
15. Conclusion