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Biocomposites Market to Benefit

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The vendor landscape for the global market for biocomposites has witnessed a significant rise in the number of manufacturers, leading to intense competition, states Transparency Market Research in a recent report. As the market witnesses the entry o
Biocomposites Market to Benefit from
Increased Demand in Construction
Industry, to Exhibit 9.46% CAGR
The vendor landscape for the global market for biocomposites has witnessed a
significant rise in the number of manufacturers, leading to intense competition, states
Transparency Market Research in a recent report. As the market witnesses the entry of
numerous well-established manufacturers of popular composites such as glass fiber
and cotton fiber, the market is expected to become more competitive in the near future.
Despite this, the market features a vast set of untapped growth opportunities in new
applications across industries such as construction and automotive.
Tapping these growth opportunities may require strategic collaborations with companies
in emerging economies and expansion of manufacturing capabilities to effectively serve
the rising demand. Some of the leading companies operating in the global
biocomposites market are Tecnaro GmbH, UPM, FlexForm Technologies, Green Bay
Decking LLC, Universal Forest Products, Inc., and JELU-WERK J. Ehrler GmbH & Co.
KG.
According to the report, the global biocomposites market will exhibit an impressive
9.46% CAGR over the period between 2017 and 2025, rising from a valuation of
US$4,730.4 mn in 2016 to US$10,549.4 mn by 2025.
Wood Continues to Remain Most Popular Raw Material
Of the key materials used to manufacture biocomposites, wood presently accounts for a
dominant share in the overall market, thanks to its excellent binding properties and easy
availability. The segment of flax is expected to expand at the fastest pace over the
forecast period, accounting for a notable share in the overall market by the end of the
report’s forecast.
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From the geographical standpoint, the market in Asia Pacific is presently the leading
contributor of revenue to the global biocomposites market, thanks to the rapid pace of
industrialization in emerging economies. The region is also a key market for
biocomposites owing to the massive demand across industries such as consumer
goods, construction, and automotive.
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Increased Focus of Governments on Raising Awareness to Drive Market
The key factors working in favor of the global biocomposites market include stringent
government regulations advocating the increased use of environment-friendly products
with the view of reducing the negative impacts of rising pollution on the health of
environment and global warming. The recyclable nature of biocomposites, coupled with
their much higher safety quotient as compared to materials such as glass fibers and
carbon fiber when it comes to a number of applications, could also spell growth for the
market.
The easy availability of most raw materials required for the production of a variety of
biocomposites across the globe is also a key factors expected to work well for the
expansion of the global biocomposites market over the next few years. However, certain
limitations concerning pure biocomposites in aspects such as mechanical strength,
coupled with their unstable costs and fluctuating availability of raw materials could cost
the market negatively to a certain degree over the forecast period.
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The report is titled “Biocomposites Market (Material Type - Wood, Flax, hemp, Coir,
Kenaf, Polyethylene, Polyvinyl Chloride, and Polypropylene; Product Type - Wood
Plastic Composites (WPC) and Natural Fiber Composites (NFC); Application Automotive, Construction, Electronics & Electricals, Furniture, and Consumer goods) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025.”
About Us
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single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection
methods along with ability to track more than one million high growth niche products are
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require specific but comprehensive information we offer customized solutions through adhoc
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research is the key to help enterprises reach right decision.
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Transparency Market Research
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