The global biocomposites market size reached USD 24.40 Billion in 2021 and is expected to register a revenue CAGR of 15.7% during the forecast period, according to latest analysis by Emergen Research. Global shift toward bio-based circular economy is a key factor driving market revenue growth.
The latest report is updated with the impact analysis of the current COVID-19 pandemic on the market. The rapidly changing dynamics of the market and current and future growth potential of the market are covered in the report. The report offers crucial information about the initial and future assessment of the impact of the COVID-19 crisis on the overall market.
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The report covers historical revenue and sales volume, and the data is further validated to provide a forecast market estimation of the market size and sales numbers for key regions along with types and end-user applications. Moreover, the report also includes macroeconomic factors and regulatory policies pertaining to the Biocomposites industry for evaluation and predictive analysis.
Rising demand for biocomposites from the healthcare industry is another major contributor to market revenue growth. Increasing demand is primarily due to the diversity of polymers and the use of biocomposites in bone tissue engineering. Biocomposites are versatile and have various material properties. The materials are usually formed by combination of two or more distinct constituent materials and result in a new material with improved performance. Biocomposites are designed to mimic the hybrid architecture of native bone while also facilitating mechanically compatible and osteoinductive scaffolds for bone tissue engineering applications.
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with the product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share.
The major companies studied in the report include:
UPM, Trex Company, Fiberon, FlexForm Technologies, Nanjing Jufeng Advanced Materials Co., Ltd., Meshlin Composites Zrt, Tecnaro GmbH, HempFlax Group B.V., Trifilon, Fasal Wood GmbH, Addiplast Group, and Transmare Compounding.
Some Key Highlights From the Report
The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Regional Segmentation:
Based on the geographical spread, the Biocomposites industry is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis of the Biocomposites market provides an insight into the regions expected to hold the largest share in the market. Additionally, the report provides valuable data about distribution, production, consumption patterns, export/import, and demand and supply ratio.
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Along with these details, the report also covers the segmentation of the market based on types, applications, end-user industry, and others. Analysis of each market segment, along with projections up to 2027, is offered in the report. The report includes profitability, gross margins, global demand, sales volume, and growth prospects of each market segment.
Based on Type, the market is segmented into:
Based on Applications, the market is segmented into:
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