Global Biocomposites Market to Reach USD 36.76 Bn by 2022, Forecasts M&M in Its In-Demand Report Available at MarketPublishers.com
09 Oct 2017 • by Natalie Aster
LONDON – The world’s biocomposites market is gaining traction fueled by favourable government regulations pertaining to the usage of eco-friendly products and such advantages of these composites as safety and recyclability versus carbon fibre and glass fibre composites. The value of the biocomposites market is poised to stand at USD 36.76 billion by 2022, registering a 14.44% CAGR during the forecast period.
Meantime, the lower strength of biocomposites as against synthetic fibre composites and the volatile prices, availability, and quality of raw materials are hindering the biocomposites market growth.
The building & construction sector grabbed the lion’s share of the biocomposites market as of 2016. However, the transportation end-use sector is set to record the highest CAGR till 2022.
APAC is forecast to be the most rapidly growing biocomposites market globally over the coming years. The key factors fueling this growth include the rising demand for biocomposites from the region’s end-use industries, especially from the building & construction sector.
In-demand research study “Biocomposites Market- Global Forecast to 2022” drawn up by M&M provides a clear overview of the market status globally, describes the actual scenario across the key regions, casts light on the market dynamics and key factors shaping the sector’s growth. The report provides a macroeconomic overview and identifies the major trends. It provides market segmentation based on fiber, polymer, product, end-use sector, and region. The research provides market size figures and forecasts until 2022. Porter’s five forces analysis is included, too. Furthermore, the report includes relevant info on the competitive landscape including market ranking of the 5 leading players, as well as profiles the 13 major companies covering their business overview, product offerings, strength of product portfolio, business strategies, etc.
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