North America Biocomposites Market News
Impact of COVID on North America Biocomposites Market: The Biocomposites market suffered a lot during the Covid-19 pandemic because of huge decrease in demand from the end user industries. A slowdown in construction and building operations, the major industry contributing to the use of Biocomposites, affected the market negatively. The unavailability of construction workers also had a negative impact because biofibers and biocomposites mostly find applications in building physical structures. The manufacturing activities were also halted as raw ingredients from far-flung sources could not be made available due to lack of transportation facilities and that affected the industry very badly.
Rising Prevalence of Biocomposites: Over the next few years, the Biocomposites market in North America is growing due to the stable long-term usage among end-user industries and government efforts for use of more eco-friendly products, especially in developed countries such as the US. Consumer products such as music instruments, furniture, tables, combs, and trays are made from wood and natural fiber plastic granulates.
Surging Demand for Hybrid Biocomposites: Hybrid composites products segment is the fastest growing product segment in the global biocomposites market. The high market share is attributed to their good fiber-polymer adhesion resulting in low moisture absorption, high strength and dimensional stability.
Analysts at Ken Research in their latest publication “North America Biocomposites Market Outlook and Forecast to 2027 – Driven by Rise in Demand for Eco Friendly and Durable Manufacturing Materials” believe that the Biocomposites Market is expected to grow owing to the rising awareness among people regarding eco-friendly materials and government efforts to replace plastics with biodegradable and environmentally favorable alternatives.
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
Major Biocomposites Product Companies in North America Mentioned in the Report:-
Tekle Technical Services Inc.
The AZEK Company
Universal Forest Products Inc.
Notable Emerging Biocomposites Product Companies in North America Mentioned in the Report:-
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
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.