Increasing Lightweight Vehicle Adoption Augmenting Biocomposite Production

Biocomposites Market

According to the 2022 World Population Review, the world military expenditure stood at $1.917 trillion in 2019. As per this report, governments of the U.S., China, Saudi Arabia, India, the U.K., Germany, Japan, Russia, South Korea, and France spent $750 billion, $237 billion, $67.6 billion, $61 billion, $55.1 billion, $50 billion, $49 billion, $48 billion, $44 billion, and $41.5 billion, respectively, on their defense sectors. Governments around the world are increasing their military expenditure to address geopolitical tensions and ensure national security.

In an attempt to ensure security, countries are focusing on creating sturdy military aircraft, which can be made from biocomposites. Thus, the surging need for new and advanced military aircraft will help the biocomposites market prosper in the foreseeable future. Aircraft manufacturers use wood-plastic composites in military aircraft, due to their high thermal, chemical, and mechanical strength. Owing to such advantages, these composite materials have become an essential part of the airframe structure of a military aircraft.

Additionally, the surging need for lightweight materials in the automobile industry to develop fuel-efficient vehicles that adhere to the vehicle safety standards of governments will also increase the consumption of biocomposites worldwide. Nowadays, automobile OEMs are increasingly using natural fiber composites in doors, windows, dashboards, and driver cabins to reduce overall vehicle weight. In addition, automakers use wood-plastic composites in rear shelves and trims for trunks, headliners, spare wheels, interior trim for doors, and seat bases.

Apart from the automotive and aerospace industries, the construction, medical, packaging, and consumer goods sectors also use biocomposites to reduce environmental degradation. In comparison to synthetic composites, natural composites have higher fiber content, lower environmental impacts, and lower cost, owing to which end users are shifting from plastic composites to biocomposites. Natural composites help mitigate air pollution and solve landfill issues, owing to which researchers and scientists are actively working toward deriving composites from natural sources.

In the years gone by, end users have preferred structural biocomposites over non-structural variants, due to the superior load-bearing property of the former. Structural biocomposites are used in the construction of stairs, furniture, roof systems, and framing components. Biocomposites used in these application areas are produced by Meshlin Composites ZRT, Jelu-Werk J. Ehrler GmbH & Co. Kg, Tecnaro GmbH, Alpas SRL, Green Bay Decking LLC, MCG Bio Composites LLC, Universal Forest Products Inc., and Flexform Technologies.

According to P&S Intelligence, the APAC region led the biocomposites market in the last few years, owing to the rapid industrialization in regional countries. Additionally, the burgeoning use of lightweight materials in the automotive and aerospace industries will also encourage the use of biocomposites in the region. Besides, the rising need for non-toxic, moisture and thermal resistant, and biodegradable materials in the construction sector will also propel the use of such composites in APAC countries.

Thus, the increasing demand for military aircraft and the surging use of lightweight materials in the automobile sector will facilitate the consumption of biocomposites, worldwide.

Chapter 1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.3.1 Market Segmentation by Type

1.3.2 Market Segmentation by Fiber Type

1.3.3 Market Segmentation by Application

1.3.4 Market Segmentation by Geography

1.3.5 Analysis Period

1.3.6 Market Data Reporting Unit

1.3.6.1 Value

1.3.6.2 Volume

1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.2.1 Breakdown of Primary Research Respondents

2.2.1.1 By region

2.2.1.2 By industry participant

2.2.1.3 By company type

2.3 Market Size Estimation

2.4 Data Triangulation

2.5 Assumptions for the Study

Chapter 3. Executive Summary

3.1 Voice of Industry Experts/KOLs

Chapter 4. Introduction

4.1 Definition of Market Segments

4.1.1 By Type

4.1.1.1 Structural

4.1.1.2 Non-structural

4.1.2 By Fiber Type

4.1.2.1 WPCs

4.1.2.2 NFCs

4.1.3 By Application

4.1.3.1 Packaging

4.1.3.2 Construction

4.1.3.3 Automotive

4.1.3.4 Consumer goods

4.1.3.5 Aerospace

4.1.3.6 Medical

4.1.3.7 Others

4.2 Value Chain Analysis

4.3 Patent Analysis

4.4 Technology Dynamics Analysis

4.5 Market Dynamics

4.5.1 Trends

4.5.1.1 Changing consumer preference from plastic composites to eco-friendly biocomposites

4.5.2 Drivers

4.5.2.1 Increasing demand for green composites from automotive industry

4.5.2.2 Growing demand for biocomposites from construction and furniture industries

4.5.2.3 Lower environmental impacts of natural composites

4.5.2.4 Impact analysis of drivers on market forecast

4.5.3 Restraints

4.5.3.1 Availability of alternatives

4.5.3.2 Impact analysis of restraints on market forecast

4.5.4 Opportunities

4.5.4.1 Growing application of composites in military aviation

Chapter 5. Raw Material, Supply Chain, and Pricing Analysis

5.1 Raw Material Analysis

5.2 Raw Material Price Analysis

5.2.1 North America

5.2.2 Europe

5.2.3 APAC

5.3 Raw Material Sourcing, Geographic Hotspot

5.4 Domestic Price Analysis, by Region

5.4.1 North America

5.4.2 Europe

5.4.3 APAC

5.4.4 RoW

Chapter 6. Global Market Size and Forecast

6.1 By Type

6.2 By Fiber Type

6.3 By Application

6.4 By Region

Chapter 7. Global Market Size and Forecast, By Type

7.1 Structural Market by Region

7.2 Non-Structural Market by Region

Chapter 8. Global Market Size and Forecast, By Fiber Type

8.1 WPC-Based Biocomposites Market by Region

8.2 NFC-based Biocomposites Market by Region

Chapter 9. Global Market Size and Forecast, By Application

9.1 Global Biocomposites Market for Construction Application by Region

9.2 Global Biocomposites Market for Automotive Application by Region

9.3 Global Biocomposites Market for Consumer Goods Application by Region

9.4 Global Biocomposites Market for Aerospace Application by Region

9.5 Global Biocomposites Market for Packaging Application by Region

9.6 Global Biocomposites Market for Medical Application by Region

9.7 Global Biocomposites Market for Others Application by Region

Chapter 10. North America Market Size and Forecast

10.1 By Type

10.2 By Fiber Type

10.3 By Application

10.4 By Country

10.4.1 U.S. Biocomposites Market

10.4.1.1 By type

10.4.1.2 By fiber type

10.4.1.3 By application

10.4.2 Canada Biocomposites Market

10.4.2.1 By type

10.4.2.2 By fiber type

10.4.2.3 By application

Chapter 11. Europe Market Size and Forecast

11.1 By Type

11.2 By Fiber Type

11.3 By Application

11.4 By Country

11.4.1 Germany Biocomposites Market

11.4.1.1 By type

11.4.1.2 By fiber type

11.4.1.3 By application

11.4.2 U.K. Biocomposites Market

11.4.2.1 By type

11.4.2.2 By fiber type

11.4.2.3 By application

11.4.3 Russia Biocomposites Market

11.4.3.1 By type

11.4.3.2 By fiber type

11.4.3.3 By application

11.4.4 France Biocomposites Market

11.4.4.1 By type

11.4.4.2 By fiber type

11.4.4.3 By application

11.4.5 Rest of Europe Biocomposites Market

11.4.5.1 By type

11.4.5.2 By fiber type

11.4.5.3 By application

Chapter 12. APAC Market Size and Forecast

12.1 By Type

12.2 By Fiber Type

12.3 By Application

12.4 By Country

12.4.1 China Biocomposites Market

12.4.1.1 By type

12.4.1.2 By fiber type

12.4.1.3 By application

12.4.2 India Biocomposites Market

12.4.2.1 By type

12.4.2.2 By fiber type

12.4.2.3 By application

12.4.3 Japan Biocomposites Market

12.4.3.1 By type

12.4.3.2 By fiber type

12.4.3.3 By application

12.4.4 Philippines Biocomposites Market

12.4.4.1 By type

12.4.4.2 By fiber type

12.4.4.3 By application

12.4.5 Rest of APAC Biocomposites Market

12.4.5.1 By type

12.4.5.2 By fiber type

12.4.5.3 By application

Chapter 13. RoW Market Size and Forecast

13.1 By Type

13.2 By Fiber Type

13.3 By Application

13.4 By Country

13.4.1 Brazil Biocomposites Market

13.4.1.1 By type

13.4.1.2 By fiber type

13.4.1.3 By application

13.4.2 South Africa Biocomposites Market

13.4.2.1 By type

13.4.2.2 By fiber type

13.4.2.3 By application

13.4.3 Saudi Arabia Biocomposites Market

13.4.3.1 By type

13.4.3.2 By fiber type

13.4.3.3 By application

13.4.4 Others Biocomposites Market

13.4.4.1 By type

13.4.4.2 By fiber type

13.4.4.3 By application

Chapter 14. Competitive Landscape

14.1 Market Share Analysis of Key Players

14.2 Global Strategic Developments of Key Players

Chapter 15. Company Profiles

15.1 Meshlin Composites Zrt.

15.1.1 Business Overview

15.1.2 Product and Service Offerings

15.2 AL.P.A.S. s.r.l.

15.2.1 Business Overview

15.2.2 Product and Service Offerings

15.3 MCG BioComposites LLC

15.3.1 Business Overview

15.3.2 Product and Service Offerings

15.4 Jelu-Werk J. Ehrler GmbH & Co. Kg

15.4.1 Business Overview

15.4.2 Product and Service Offerings

15.5 FlexForm Technologies

15.5.1 Business Overview

15.5.2 Product and Service Offerings

15.6 Green Bay Decking LLC

15.6.1 Business Overview

15.6.2 Product and Service Offerings

15.7 Universal Forest Products Inc.

15.7.1 Business Overview

15.7.2 Product and Service Offerings

15.7.3 Key Financial Summary

15.8 Trex Company Inc.

15.8.1 Business Overview

15.8.2 Product and Service Offerings

15.8.3 Key Financial Summary

15.9 Tecnaro GmbH

15.9.1 Business Overview

15.9.2 Product and Service Offerings

15.10 Fiberon LLC

15.10.1 Business Overview

15.10.2 Product and Service Offerings

Chapter 16. Appendix

16.1 Abbreviations

16.2 Sources and References

16.3 Related Reports

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