What Is the Size of North America Biocomposites Industry?
North America Biocomposites market is growing at a CAGR of ~% in 2017-2021P and is expected to reach ~USD Bn by 2027F. The growth of Biocomposites market in North America is driven owing to the rise in environmental concerns supported by the increasing need for lowering emission levels.
Furthermore, the rising prevalence of biocomposites over the next few years is expected to propel the growth of market due 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 USA.
Rise in demand of Eco Friendly and Durable Manufacturing Materials. Handling plastic composites has become a serious issue and glass fiber also has health drawbacks, thus biocomposites have emerged as a popular replacement. Hence, stricter environmental legislation and increased awareness about the use of sustainable building materials will drive growth in the market for biocomposites.
Wood plastic composites (WPC) and natural fiber composites (NFC) square measure presently gaining important interest for a range of applications owing to recent enhancements in injection molding and 3D printing.
North America Biocomposites Market by Fiber Type
The Wood Fiber Composites segment in North America Biocomposites market is growing at a CAGR of ~% in 2017-2021 and is expected to reach ~USD Bn by 2027F. It is used extensively in the construction and automotive industries since they are more durable and need less maintenance.
Following the Wood Fiber segment, the Non-wood Fiber Composites will experience the fastest growth during the forecasted period. This gain is majorly due to the thermoplastic (PP) which dominates the other varieties due to its better mechanical strength. This group includes polypropylene as well, which has grown quickly in recent years due to its inexpensive hydrolysis resistance qualities.
North America Biocomposites Market by Polymer Type
The North America Synthetic Polymer Composites market is growing at a fastest CAGR of ~% in 2017-2021 and is expected to reach ~USD Bn by 2027F. This is mainly due to that Synthetic Polymer have better dimensional stability and are highly resistant to physical impacts.
Natural fiber is being used more frequently as a support or filler element in the construction of composites as a result of the growing understanding of the necessity to use legal resources to replace those produced by traditional materials. Natural Polymer owns the increasing environmental awareness and various attractive benefits offered by natural fiber composites.
North America Biocomposites market by Product Type
The Green Biocomposites segment in the North America Biocomposites market is growing at the highest CAGR of ~% in 2017-2021 and is expected to reach ~USD Bn by 2027F. This growth is mainly due to the increased shift of customers to Services due to excellent fiber-polymer adhesion, which results in minimal moisture absorption, high strength, and dimensional stability, composite systems with high performance, strength, and adaptability, and their full degradability and composability make them relatively appealing.
Hybrid composite materials are progressively used in many engineering applications as they offer many advanced properties and various advantages over conventional composite materials. It has distinctive characteristics that can be used in various structures and/or structural components without compromising their structural performance and robustness.
Key Segments Covered in North America Biocomposites Market:-
North America Biocomposites Market By Product Type
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
North America Biocomposites Market By Type of End User Industry
Automobile & Transportation
Building & Construction
Electrical & Electronics
Aerospace & Defense
North America Biocomposites Market By Geography and Major Countries
Key Target Audience:-
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
Time Period Captured in the Report:-
Historical Period: 2017-2021
Forecast Period: 2022-2027F
Key Competitors in North America Biocomposites Market
Tekle Technical Services Inc.
The AZEK Company
Universal Forest Products Inc.
Emerging Biocomposites Companies in North America
Bast Fibre Technologies
Natural Fibre Technologies
Safran Aero Composites
Key Topics Covered in the Report:-
Snapshot of North America Biocomposites Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of North America Biocomposites Market
Historic Growth of Overall North America Biocomposites Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of North America Biocomposites Industry
Overview, Product Offerings, and SWOT Analysis of All the Key Competitors
Covid 19 Impact on the Overall North America Biocomposites Market
Future Market Forecast and Growth Rates of the Total North America Biocomposites Market and by Segments
Market Size of End User Industries with Historical CAGR and Future Forecasts
Analysis of North America Biocomposites Market in Major North American Countries
Major Production / Consumption Hubs in the Major Countries
Major Production/Supply and Consumption/Demand Hubs in Each Major Country
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging North America Biocomposites Companies within Each Major Country
TTS Biocomposites Market
Lingrove Biocomposites Market
MCG BioComposite Market
FlexForm Technologies Biocomposites Market
Owens Corning Biocomposites Market
Primitives Biocomposites Market
RWDC Industries Biocomposites Market
NovolBio Biocomposites Market
Anomera Biocomposites Market
USA Biocomposites Market Major Players
Covid-19 Impact USA Biocomposites Market
Canada Biocomposites Industry Research Report
Biocomposites Market In Canada
Mexico Biocomposites Market Research Report
For more information on the research report, refer to below link:-
Ankur Gupta, Head Marketing & Communications
Frequently Asked Questions:-
What is the Study Period of this Market Report?
The North America Biocomposites Market is covered from 2017 – 2027 in this report, which includes a forecast for the period 2022-2027.
What is the Future Growth Rate of North America Biocomposites Market?
The North America Biocomposites Market is expected to witness a CAGR of above 12% over the next 5 years.
What are the Key Factors Driving the North America Biocomposites Market?
Rising number of millennial parents who are increasingly health conscious and adopting natural, minimally processed food is expected to be the primary driver of this market.
Which is the Fastest Growing Product Segment within the North America Biocomposites Market?
Natural Polymer Composites is the fastest growing product segment within the North America Biocomposites Market.
Who are the Key Players in North America Biocomposites Market?
Lingrove, MCG BioComposites, Trex, FlexForm Technologies, Tekle Technical Services Inc., DuxxBak, BioComposites Group, The AZEK Company, Universal Forest Products Inc., NewTechWood, and Owens Corning are the major companies operating in North America Biocomposites Market.