Biocomposites or green composites are formed by a biopolymer matrix and reinforcement of natural fibres. Some are degradable materials, but this is rare. Increasing concerns for the environment is a major driver of the biocomposite market. The need for green composites is driven by depleting natural resources like crude oil (crude oil is a major component of non-bio composites), which focus on reducing environmental pollution levels and utilization of agricultural waste. Natural fibres used in biocomposites include natural fibres like Jute, wood flour, sugarcane bagasse, oil palm fibre, rice husk etc.

Natural fibre reinforced polypropylene (PP) composites have gained popularity for commercial use in the automotive industry. The advantages of natural fibres over manmade glass fibre include reduced cost, low density, distinct mechanical properties, less energy consumption etc. Automakers are currently shifting towards biocomposites as natural fibres like hemp are tougher than steel and are also cost-effective in terms of production. Biocomposites are also used in the construction and marine sectors as it is easily mouldable and rigid in nature.

In terms of revenue, the global polymer market was estimated to be US$ 250 billion in 2013. Projections suggest that the market will reach US$450 billion by 2025. On the other hand, the global market of bio-based polymer is expected to grow at a CAGR of 10% – 11.5%. An increase in demand for biocomposites is expected from regions of Asia Pacific, due to increasing construction, manufacturing and automotive sectors. Asia-Pacific is also estimated to be the largest automotive composite market with a total share of around 43% globally. Asia-Pacific is turning into a hub for biocomposite manufactures and is expected to report a high demand for biocomposites over the coming years.

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The commercial and residential construction industry in APAC is flourishing and biocomposite is preferred for manufacturing are used industry is assured to play a major role in it due to increasing environmental concerns, stringent government regulations and social responsibility.

The key players in the market are divided into two groups which are biocomposite manufacturers and biocomposite suppliers. The main producers of natural fibre composites in the market are Flexform Technologies, Technaro GmbH, Procotex S.A. Corporation NV and Greengran B.V. The prominent suppliers of natural fibre composites are Stemergy, Bast Fibers, LLC and Trailer.

Many companies offering biocomposites are aggressively trying to enhance their product portfolio to meet customer requirements and explore untapped markets. The biocomposite market in APAC is highly fragmented and existing players try to develop partnership agreements amongst themselves and with smaller companies.

After a decade of extraordinary developments with regard to artificial fibres, biocomposites have garnered high interest from the automotive sector, especially for the interior and exteriors of automobiles. Social concerns, depleting carbon resources and ecological regulations have initiated the search for new products and processes that are environmentally friendly. The combination of natural fibres and composites can reduce dependence on petroleum-based composite material. Biocomposites could ultimately replace petroleum-based composite material in various applications areas such as automotive and construction. This could also offer new manufacturing and environmental benefits. Increasing the use of biocomposites can help maintain CO2 balance in Earth’s atmosphere. Awareness with regard to the environment and new government regulations like CAFÉ (Corporate Average Fuel Economy), new national and state emission standards will catalyze increased research for eco-friendly products in the application industry. As biocomposites are produced from renewable sources such as wood pulp, jute fibers, cellulose fiber, etc., it is imperative that the cost of raw materials will be stable in the coming years. In addition to this high volume production of biocomposites will also minimize the production cost, thus market prices of biocomposites.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology.

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