Biocomposites Market Definition and Overview
Biocomposites are biocompatible and/or environmentally friendly composite materials produced by the reinforcement of natural fibers with a polymer resin. Natural and manufactured polymers, polysaccharides, proteins, sugars, ceramics, metals, and nanocarbons are among the organic and inorganic components found in these. Films, membranes, moldings, coatings, particles, fibers, and foams are examples of Biocomposites in various forms. Several research efforts have been conducted by companies to produce eco-friendly composite and/or biomedical materials for application in the disciplines of sensors, tissue engineering, implants, and scaffolds, in addition to studies aiming at enhancing fundamental mechanical characteristics and functions of the materials.
Bio-based polymers, plastics, and Biocomposites can provide more environmentally friendly products with a smaller carbon footprint. They can also help the environment by reducing or eliminating microplastic emissions if a biodegradable plastic matrix is used. Biocomposites can also provide unique features such as increased stiffness and strength. Fully bio-based and biodegradable solutions are available when biodegradable polymers are used.
North America Biocomposites Market Outlook, Drivers and Challenges
Over the next five years, the Biocomposites market in North America is forecasted to grow at least 12% CAGR, owing to the stable long-term usage among end-user industries and government efforts for use of more eco-friendly products especially in developed countries such as U.S.
Consumer products such as music instruments, casings and cases, furniture, tables, toys, combs, and trays are made from wood and natural fiber plastic granulates. Customer preferences for these products due to their distinct appearance and feel, great quality and value will help the Biocomposites market to grow. The Biocomposites market is also expected to grow because of the consistent growth in traditional industries such as construction and automotive. The increased adoption as well as robust growth in newer industries such as consumer products & packaging, aerospace & defense, and wind energy is going to contribute to the market’s growth in the future.
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Extruded Biocomposites have traditionally been used for decking, fence, and cladding. Wood plastic composites (WPC) and natural fiber composites (NFC) are currently gaining significant interest for a variety of applications because of recent improvements in injection molding and 3D printing.
Inconsistency in material performance and higher cost of the Biocomposites as compared to glass fibers are some restraints for the market. Also, the current dominance of glass fiber and carbon fiber in the composite industry is a challenge for the industry. Biocomposites are largely dependent on the availability and quality of the natural fibers acquired and hence maintaining uniformity in the production process and improving mechanical performance are challenges for the core end user industries such as building and construction.
North America Biocomposites Market Value Chain Analysis
The North America Biocomposites market value chain consists of natural raw material providers which provide the fibers such as jute, hemp, kenaf, flax, etc. The Bio-plastic pellet producers process and refine these raw materials with synthetic composites to provide their goods as bio-plastic pellets. The Biocomposites product manufacturers make the shape of the package and define its properties for further usage by utilizing various technologies. The product manufacturers then supply these products to the distributors / retailers which make it available to the end user industries.
North America Biocomposites Market Segmentation
The North America Biocomposites market can be segmented into two categories based on the Fiber type such as Wood Fiber Composites and Non-wood Fiber Composites. Based on the Polymer type, the North America Biocomposites market can be segmented into two categories namely Natural Polymer Composites and Synthetic Polymer Composites. By Product, the market can be categorized as Hybrid Biocomposites and Green Biocomposites. From the demand side, the market can be segmented based on end-user industries such as Automobile & Transportation, Building & Construction, Consumer Goods, Electrical & Electronics and Aerospace & Defense. Geographically, the major countries in the North America are U.S., Canada and Mexico.
North America Biocomposites Market Competitive Landscape of Major Players
Some key players in the North America Biocomposites Market include TTS, Lingrove, MCG Biocomposites, FlexForm Technologies, Green Bay Decking, Fiberon, and Trex Company, Inc.
Impact of Covid-19 on North America Biocomposites Market
The Biocomposites market suffered a lot during the Covid-19 pandemic because of huge decrease in demand from the end user industries. A slowdown in construction and building operations, the major industry contributing to the use of Biocomposites, affected the market negatively. The unavailability of construction workers also had a negative impact because biofibers and biocomposites mostly find applications in building physical structures. The manufacturing activities were also halted as raw ingredients from far-flung sources could not be made available due to lack of transportation facilities and that affected the industry very badly.
Key Segments Covered in North America Biocomposites Market
North America Biocomposites Market By Fiber Type
Wood Fiber Composites
Non-wood Fiber Composites
North America Biocomposites Market By Polymer Type
Natural Polymer Composites
Synthetic Polymer Composites
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North America Biocomposites Market By Product Type
Hybrid Biocomposites
Green Biocomposites
North America Biocomposites Market By Type of End User Industry
Automobile & Transportation
Building & Construction
Consumer Goods
Electrical & Electronics
Aerospace & Defense
North America Biocomposites Market By Geography and Major Countries
U.S.
Canada
Mexico
Key Competitors in North America Biocomposites Market:-
TTS
Lingrove
MCG Biocomposites
FlexForm Technologies
Green Bay Decking
Fiberon
Trex Company, Inc.
Time Period Captured in the Report:-
Historical Period: 2017-2021
Forecast Period: 2022-2027
Key Target Audience:
Biocomposites Manufacturers
Bio-pellet Manufacturers
Composites Manufacturers
Plastics Manufacturers
Chemicals Manufacturers
Petrochemicals & Resins Manufacturers
Primary Biocomposites Fiber Farming Organizations
Automobile Component Manufacturing Companies
Building & Construction Materials and Products Manufacturing Companies
Electrical & Electronics Components Manufacturers
Military Defense Components Manufacturers
Aerospace Components manufacturer
Potential Investors in Biocomposites Industry
Allied/Auxiliary Industries in Biocomposites Market
Biocomposites Wholesalers and Distributors
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