Biocomposites Market by Technology Growth, Insights, Trend, Demand & Forecast to 2023

The major growth drivers identified in the biocomposites market are the increasing need of environment friendly products and utilization of agricultural waste. Due to increasing environment concerns across the globe, the needs of green composites are increasing in the market. Traditionally, plastic or synthetic composites were highly used in various end-use industries

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Glass fiber and carbon fibers are the major substitutes available in the market, to these bio-based composites. Glass fiber, owing to its superior physical properties, such as easy availability, and durability, derives its demand in many industries such as aerospace, automobile, and telecommunication.

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, these materials now constitute a majority of airframe structure of a military aircraft. Wood-plastic composites are the majorly used materials in military aircraft.

APAC is expected to be the fastest growing region in the biocomposites market during the forecast period. This is attributed to the increasing demand from construction industries for the bio-based products in the region.

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Some of the major players operating in the global biocomposites market are Trex Company, Inc., Tecnaro GmbH, Universal Forest Products Inc., Fiberon LLC, Meshlin Composites ZRT, Alpas SRL, MCG Bio Composites LLC, Jelu-Werk J. Ehrler GmbH & Co. Kg, FlexForm Technologies, and Green Bay Decking LLC.

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