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Based on type, the biocomposites market is categorized into structural and non-structural . Structural was the larger category in the market, contributing more than 50.0% revenue share in 2017. The larger share of the type is ascribed to wide range of application of structural bio-based composites in housing industry owing to their exceptional load bearing property.
On the basis of fiber type, the biocomposites market is categorized into wood-plastic composites (WPC) and natural fiber composites (NFC). WPC was the larger type in the market, accounting for more than 50.0% volume sales in 2017. The large-scale consumption of wood composites in furniture and consumer goods applications, is fuelling the market growth.
The biocomposites market in Asia-Pacific (APAC) is expected to register a CAGR of 13.7% during the forecast period, in terms of value. Rapid industrialization is the key factors attributable to the overall expansion of the APAC market.
Traditionally, the demand for bio-based composites in military aviation was limited to the replacement of the metal parts of aircraft. However, due to their high mechanical, thermal, and chemical strength, composites materials now constitute a majority of airframe structure of a military aircraft.
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Some of the major players operating in the global biocomposites market are Meshlin Composites ZRT, Alpas SRL, MCG Bio Composites LLC, Trex Company Inc., Flexform Technologies, Jelu-Werk J. Ehrler GmbH & Co. Kg, Green Bay Decking LLC, Universal Forest Products Inc., Fiberon LLC, and Tecnaro GmbH.
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