Lucintel Forecasts the Global Bio-Composites Market to Reach $7 Billion by 2030
Lucintel Forecasts the Global Bio-Composites Market to Reach $7 Billion by 2030
Blog Article
According to the recent study the global bio-composites market is projected to reach an estimated $7 billion by 2030 from $6 billion in 2023 at a CAGR of 2% from 2023 to 2030. 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 121 figures/charts and 118 tables in this 212-page report to understand trends, opportunities and forecast in global bio-composites market by end use (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).
Lucintel forecasts that building and construction will remain the largest segment over the forecast period due to increasing demand for moisture resistance, low maintenance, non-toxic, and durable products.
Polyethylene resin bio-composites will remain the largest resin type over the forecast period due to durability, near-zero moisture absorption, excellent chemical inertness, and ease of processing.
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing demand for WPC decking, fencing, and railing in the building and construction industries of China, India, and Japan
FlexForm Technologies, Tecnaro GmbH, Trex Company Inc., Azek Building Products, Procotex Corporation SA, Fiberon LLC, GreenGran BV, FiberGran GmbH & Co. KG, Universal Forest Products, Inc., Tamko Building Products, Advanced Environmental Recycling Tech. are the major suppliers in the 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 write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056