DUBLIN, Feb. 11, 2023 /PRNewswire/ — The “Bio-Composites Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Fiber Type (Wood, Non-Wood), By Polymer Type (Natural, Synthetic), By Product (Hybrid, Green), By End User, By Region and Competition” report has been added to ResearchAndMarkets.com’s offering.
By 2028, the global market for Bio-Composites is expected to grow impressively due to increasing demand from the building & construction industry. In 2021, Biocomposite production in Europe stood at roughly 436 thousand metric tonnes.
Biocomposites are made of natural fibers such as hemp, wood, paper industry waste, jute, and flax in the polymer matrix. Because of the greater use of natural fiber as reinforcement and the high cost of synthetic fibers, the market for bio-composites is expected to grow over the next several years. Additionally, rising demand in the automotive sector to increase the safety of passengers and reduce the weight of a vehicle is expected to increase the market demand.
Furthermore, In January 2022, the U.S. Department of Energy (DOE) announced that it would invest USD 13.4 million in next-generation plastic materials technologies to decrease single-use plastics’ energy use and carbon emission levels and according to the E.U. Commission, annually, the European automotive industry uses 80,000 tonnes of fibers rather than substitute synthetic fibers to reinforce composite items; therefore the global bio-composites market is expected to rise in the forecast period.
Growing Demand from Building & Construction
In the building sector, biocomposites are increasingly employed for wall sheathing, roofing, and flooring. For the same price, these composites provide goods with more excellent durability than conventional wood or steel ones. Biocomposites may be produced with varying degrees of fire resistance in addition to their physical characteristics, making it feasible to utilize them as exterior cladding…