According to the recent study the Bio-Composites Market is projected to reach an estimated $7.0 billion by 2025 from $5.4 billion in 2019, at a CAGR of 4.4% from 2020 to 2025. Growth in this market is primarily driven by 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.
Browse 138 figures / charts and 128 tables in this 212 -page report to understand trends, opportunities and forecast in bio-composites market by end use industry (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).
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“Building and construction market is expected to remain the largest segment during the forecast period.”
Based on end use industry, the bio-composites market is segmented into building and construction, automotive, industrial and consumer goods. Lucintel forecasts that the building and construction market is expected to remain the largest segment and it is also expected to witness the highest growth during the forecast period due to the increasing demand for moisture resistance, low maintenance, non-toxic, and durable products are the major requirements driving growth for this segment over the forecast period.
“Within the bio-composites market, the polyethylene segment is expected to remain the largest resin type”
Based on resin type the polyethylene segment is expected to remain the largest segment with the highest growth over the forecast period due to durability, near-zero moisture absorption, excellent chemical inertness, and ease of processing.
“North America will dominate the bio-composites market in near future”
North America is expected to remain the largest market by value and volume. Asia-Pacific is expected to witness the highest growth over the forecast period because of increasing demand for WPC decking, fencing, and railing in the building and construction industries of China, India, and Japan.
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Major players of bio-composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Trex, Azek Building Products, Fiberon LLC, AERT, UFP, Tamko Building Products, FlexForm Technologies, Technaro GmbH, Procotex Corporation, GreenGran BV, and FiberGran GmbH are among the major bio-composites providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/bio-composites-market.aspx or [email protected]
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