DUBLIN--(BUSINESS WIRE)--The "Growth Opportunities in the Global Bio-Composites Market" report has been added to ResearchAndMarkets.com's offering.
The global bio-composites market is expected to reach an estimated $7.6 billion by 2023 and is forecast to grow at a CAGR of 7.9% from 2018 to 2023. The market for end Products made with bio-composites is expected to reach an estimated $12.2 billion by 2023.
The major growth drivers for this market are increasing demand for Wood Plastic Composites (WPC) in the construction industry due to its wood finish like appearance and durability, and growing use of Natural Fiber Composites (NFC) in automotive interiors due to its aesthetics and growing concern for passenger safety.
Emerging trends, which have a direct impact on the dynamics of the bio-composites industry, include the emergence of new applications, and government support to innovate and commercialize the use of bio-based composites.
It is forecast that the largest end use industry will be building and construction, and it is also expected to witness the highest growth during the forecast period. Increasing demand for moisture resistance, low maintenance, non-toxic, and durable products are the major requirements driving growth for this segment over the forecast period.
By resin type, polyethylene resin based bio-composites is expected to remain the largest segment and witness the highest growth in the forecast period because of durability, near-zero moisture absorption, excellent chemical inertness, and ease of processing.
North America is expected to remain the largest market by value and volume. Asia-Pacific is expected to witness the highest growth over the forecast period because of increasing demand for WPC decking, fencing, and railing in the building and construction industries of China, India, and Japan.
Companies Mentioned
- Advanced Environmental Recyling Technologies
- Azek Building Products
- FiberGran GmbH & Co. KG
- Fiberon LLC
- FlexForm Technologies LLC
- GreenGran BV
- Procotex Corporation SA
- Tamko Building Products
- Tecnaro GmbH
- Trex Company Inc
- Universal Forest Products Inc
Key Topics Covered
1. Executive Summary
2. Market Background and Classifications
3. Market Trends and Forecast Analysis from 2012 to 2023
4. Market Trends and Forecast Analysis by Region
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
For more information about this report visit https://www.researchandmarkets.com/research/t4wqzz/growth?w=4
