Analysis of Biocomposites Market by 2023
A fresh report has been added to the wide database of
Business Industry Reports. The research study is titled
“Biocomposites Market” by Manufacturers, Countries, Type
and Application, Forecast to 2023 which provides important
data about the production, consumption, revenue and
company profiles for key industry participants.
Global Biocomposites Market Synopsis:
According to Market Analyst, The Global Biocomposites Market is expected to grow at an impressive
Compound Annual Growth Rate (CAGR) from 2019 to 2023.
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Biocomposites are increasingly used in building & construction, transportation, consumer goods end-use
industries as they are moisture resistant, low-cost, light-weight, and biodegradable. According to
Research, Rising awareness among people regarding eco-friendly materials and government efforts to
replace plastics with biodegradable and environmentally favorable alternatives are major trends
responsible for market growth.
Global Biocomposites Market has been segmented on the Basis of Fiber, Polymer, Product, End-Use
Industry and Region. In Fiber segment, Global Biocomposites Market can be sub segmented into Wood
Fiber Composites and Non-wood Fiber Composites. Based on Polymer, Market further sub segmented
into Synthetic Polymer and Natural Polymer. In term of Product, Biocomposites can be divided into
Hybrid Biocomposites, Green Biocomposites,
In the end user segment, Market segmented into Building & Construction, Transportation, Consumer
Goods, Others. The transportation segment is projected to be the fastest-growing end-use industry
segment of the market during the forecast period. Biocomposites are used in the automotive industry
owing to their lightweight, impact resistance, and non-toxic features.
Regionally, Asia Pacific is expected to be the fastest-growing market for biocomposites during Forecast
period due to the increasing demand from the region’s transportation and building & construction end-
use industries.