North America Biocomposites market by Type of End User Industry
The North America Consumer Goods Industry is expected to grow at positive CAGR of ~% in 2017-2021 and is expected to reach ~USD Bn by 2027F. Many companies are looking for more environmentally friendly materials to reduce environmental pollution and costs, which is likely to boost the growth of the market during the forecast period.
The building & construction segment accounted for the highest market share in 2021, as over the past few years, a movement promoting green building materials has acquired widespread notice. Recently, green buildings have been designed to be cost-effective, ecologically friendly, and healthy places to live and work.
The usage of biocomposites in the Automobile & Transportation segment is expected to gain traction as it has superior acoustic and thermal qualities when compared to composites made from non-renewable materials, which makes them perfect for use in automotive interior components.
Competition Scenario In North America Biocomposites Market
The Competition is Highly Competitive or Fragmented. There are a few big companies in North American biocomposites market that offer a diverse range of products, however they are facing stiff competition from other players who offer a limited range of specialized products. Companies are competing on various parameters such as Partnerships, New Products and offering comprehensive biocomposites solutions to all major end user industries.
What is the Expected Future Outlook for the Overall Biocomposites in North America?
The revenues generated by biocomposites market players in North America are projected to augment to ~ by 2027 from ~ during 2022, registering a robust CAGR of ~ during the same period. 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.
Furthermore, rising environmental concerns supported by the increasing need for lowering emission levels is expected to provide a strong thrust to the growth of the biocomposites market. Traditionally, plastic composites were heavily used in various end-use industries. However, because of the environmental impacts of these composites (carbon fiber and glass fiber), such as air pollution, greenhouse gas (GHG) emissions and landfill issues, researchers and scientists shifted towards composites derived from natural sources.
Natural composites have many advantages over synthetic composites such as low cost, low environmental impact and high fiber content resulting in less pollution. Hence, due to the cheap, recyclable and biodegradable nature, consumer preference is shifting from plastic composites to eco-friendly composites, thus becoming the dominant trend in the biocomposites market.
Bio-composites are used in many industries and now new applications emerging in various other industries. Plastic packaging is one of the latest application trends for bio-based polymers. In combination with natural fibers, they can offer excellent prospects for environmental marketing, particularly in bio-cosmetic cans or packaging for bio-based detergents.
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.