DUBLIN, Jan 16, 2019 /PRNewswire/ --
The "Biocomposites Market by Type - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
Global biocomposites market is projected to reach $8,473.4 million by 2023, the market growth is driven by growing demand for bio-based composites from construction and furniture industries.
Based on type, the biocomposites market is categorized into structural and non-structural . Structural was the larger category in the market, contributing more than 50.0% revenue share in 2017. The larger share of the type is ascribed to wide range of application of structural bio-based composites in housing industry owing to their exceptional load bearing property.
On the basis of fiber type, the biocomposites market is categorized into wood-plastic composites (WPC) and natural fiber composites (NFC). WPC was the larger type in the market, accounting for more than 50.0% volume sales in 2017. The large-scale consumption of wood composites in furniture and consumer goods applications, is fuelling the market growth.
In terms of application, the biocomposites market is categorized into construction, automotive, consumer goods, aerospace, packaging, medical, and others. Others include marine and transportation. In terms of volume, biocomposites is expected to witness fastest growth in aerospace application area, advancing at a CAGR of 13.6% during the forecast period. The production of aircraft is increasing owing to the increase in air travel and tourism across the world. This is driving the use of bio-based composites for aerospace application.
The biocomposites market in Asia-Pacific (APAC) is expected to register a CAGR of 13.7% during the forecast period, in terms of value. Rapid industrialization is the key factors attributable to the overall expansion of the APAC market.
Other key factors that are expected to fuel the overall growth of the biocomposites market in the region are the increasing demand for bio-based composites from the region's automotive, construction, and consumer goods end-use industries. Additionally, increasing demand for biodegradable, non-toxic, and moisture as well as thermal resistant materials in the building and construction is anticipated to drive the market in this region.
India's construction biocomposites consumption in wind power has surpassed that of China's. Furthermore, composites are increasingly being employed in the market for applications ranging from fabricating cooling tower units to resisting corrosion due to moisture. Hence, APAC is predicted to witness fastest growth in the biocomposite market during the forecast period.
Traditionally, the demand for bio-based composites in military aviation was limited to the replacement of the metal parts of aircraft. However, due to their high mechanical, thermal, and chemical strength, composites materials now constitute a majority of airframe structure of a military aircraft. WPC are the majorly used materials in military aircraft.
In order to ensure national security and address geo-political tensions, majority of nations across the world are broadening their military spending. According to Stockholm International Peace Research Institute, the global military spending stood at 1.69 trillion in 2016. The rising military spending will encourage the development and acquisition of aircraft. Hence, the development of new and advanced military aircraft is anticipated to provide lucrative growth opportunities to the biocomposites market.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
3.1 Voice of Industry Experts/KOLs
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Type
4.1.2 By Fiber Type
4.1.3 By Application
184.108.40.206 Consumer goods
4.2 Value Chain Analysis
4.3 Patent Analysis
4.4 Technology Dynamics Analysis
4.5 Market Dynamics
220.127.116.11 Changing consumer preference from plastic composites to eco-friendly biocomposites
18.104.22.168 Increasing demand for green composites from automotive industry
22.214.171.124 Growing demand for biocomposites from construction and furniture industries
126.96.36.199 Lower environmental impacts of natural composites
188.8.131.52 Impact analysis of drivers on market forecast
184.108.40.206 Availability of alternatives
220.127.116.11 Impact analysis of restraints on market forecast
18.104.22.168 Growing application of composites in military aviation
Chapter 5. Raw Material, Supply Chain, and Pricing Analysis
5.1 Raw Material Analysis
5.2 Raw Material Price Analysis
5.3 Raw Material Sourcing, Geographic Hotspot
5.4 Domestic Price Analysis, by Region
Chapter 6. Global Market Size and Forecast
6.1 By Type
6.2 By Fiber Type
6.3 By Application
6.4 By Region
Chapter 7. Global Market Size and Forecast, By Type
7.1 Structural Market by Region
7.2 Non-Structural Market by Region
Chapter 8. Global Market Size and Forecast, By Fiber Type
8.1 WPC-Based Biocomposites Market by Region
8.2 NFC-based Biocomposites Market by Region
Chapter 9. Global Market Size and Forecast, By Application
9.1 Global Biocomposites Market for Construction Application by Region
9.2 Global Biocomposites Market for Automotive Application by Region
9.3 Global Biocomposites Market for Consumer Goods Application by Region
9.4 Global Biocomposites Market for Aerospace Application by Region
9.5 Global Biocomposites Market for Packaging Application by Region
9.6 Global Biocomposites Market for Medical Application by Region
9.7 Global Biocomposites Market for Others Application by Region
Chapter 10. North America Market Size and Forecast
Chapter 11. Europe Market Size and Forecast
Chapter 12. APAC Market Size and Forecast
Chapter 13. RoW Market Size and Forecast
Chapter 14. Competitive Landscape
14.1 Market Share Analysis of Key Players
14.2 Global Strategic Developments of Key Players
Chapter 15. Company Profiles
- Meshlin Composites Zrt.
- AL.P.A.S. s.r.l.
- MCG BioComposites LLC
- Jelu-Werk J. Ehrler GmbH & Co. Kg
- FlexForm Technologies
- Green Bay Decking LLC
- Universal Forest Products Inc.
- Trex Company Inc.
- Tecnaro GmbH
- Fiberon LLC
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