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Biocomposites Market Size is Anticipated To Boom USD 51.32 Billion at a CAGR of 10.8% 2027 | Reports and Data

Reports And Data

Reports And Data

The Rise in trend of globalization and the awareness for the environment is driving the demand for the market.

NEW YORK CITY, NEW YORK, UNITED STATES, August 8, 2022 /EINPresswire.com/ -- The Global biocomposites Market is projected to reach USD 51.32 billion by 2027. The sector is estimated to be powered by the increasing use of biocomposites in end-use sectors such as automotive, building and construction, electrical and electronics, and consumer goods. Also, a change in customer preference from plastic composites to environmentally friendly biocomposites is expected to fuel demand growth over the forecast period.

Biocomposites are composite materials, together with polymer resin, made from natural fibers such as wood or nonwood fiber. Due to its eco-friendly characteristics, their use in different sectors is growing. They are effectively used as a replacement for plastic composites. Strict laws on the environment favor their purpose, too.

Globally, the handling of plastic waste is a severe issue because plastic goods do not quickly decompose. Several governments have banned plastic goods from addressing this issue, and are encouraging the use of biocomposites as a replacement for plastic composites. Besides, they are used in automotive non-structural parts as a replacement for metal and alloys, like parcel shelves and interior panels. The use of biocomposites in the automotive industry is likely to help decrease a vehicle's total weight and thus reduce passenger injuries in accident cases. Similarly, rising demand is expected to drive the market in the electrical and consumer sustainable sectors

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Further key findings from the report suggest

The demand for biocomposites is influenced by stringent government regulations on the use of environmentally friendly materials and the safety & sustainability of biocomposites compared to composites of glass and carbon fiber.
Wood fiber composites are anticipated to develop most significantly during the forecast period.
Transportation emerged as a leading end-use segment on the market and accompanied by construction.
Advances in technology in the mass manufacturing of biocomposites are among the factors driving the global market for biocomposites.
A variety of major competitors in the sector are investing in eco-friendly and high strength goods for research and development. Several companies have also consolidated their activities around the value chain to improve productivity and improve customer experience.
In January 2019, Web Industries acquired Omega Systemes Atlantique and Aquitaine. This acquisition brought premier Europe and U.S. producers of advanced materials for aerospace.
Key participants include Huntsman Corporation, Mitsubishi Plastics, Inc., Fiberon LLC, FlexForm Technologies, LLC, Universal Forest Products Inc., Bioworks, Inc., Stemergy, For the purpose of this report, Reports and Data has segmented the anionic surfactants market on the basis of product type, chemical composition, end use, application and region

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For the purpose of this report Reports and Data has segmented global Melamine market market on the basis of type, application, and region:

Fiber Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

Straw
Bast
Hemp
Flax
Jute
Kenaf
Soft & Hardwood
Others

Polymer Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

Natural
Synthetic

Product Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

Green
Hybrid

Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

Construction
Transportation
Consumer Goods
Electronics & Electrical
Others

Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

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Key Questions answered by the Report:

What is the expected year-on-year growth of the Melamine market during the forecast period?
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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Nikhil Morankar
Reports and Data
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