Scienza e Tecnologia
Government efforts to replace plastics with biodegradable and environmentally favorable alternatives will be the Future Catalyst for Biocomposites Market in North America: Ken Research
Natural composites have many advantages over synthetic composites such as low cost, low environmental impact, and high fiber content resulting in less pollution. Hence, due to the cheap, recyclable, and biodegradable nature, consumer preference is shifting from plastic composites to eco-friendly composites, thus becoming the dominant trend in the biocomposites market.
Natural fiber is made from plants and cellulose. Bio-based materials are low in weight, offer damping and impact absorption, and have certain health advantages due to the presence of natural fibers. There has been a noticeable increase in the variety of ingredients that are typically used in the biocomposites market including hemp, jute and flax are popular natural fibers used in biocomposites. The fact that biocomposites have a lower environmental effect than glass fiber is one of the primary factors propelling the worldwide biocomposites market ahead. The global need for high-performance engineered goods derived from natural resources is increasing.
Analysts at Ken Research in their latest publication believe that the Biocomposites market is expected to grow on the basis of rapid rise in adoption of these solutions due to their affordability & flexibility to meet varying needs of different industry users.
Globally the market for sustainable and eco-friendly adhesive is on rise. This factor has given a substantial thrust to the demand for bio-adhesives in the global market. The market for global bio-adhesives has registered a five year double digit CAGR during 2012-2017. It was mainly driven by demand for medical adhesives used in surgery and rising demand in packaging and engineered wood industry. Products are still in the development stage and market is expected to register significant growth in years to come.
India adhesives market showcased a stagnant growth rate in the last few years and recorded a CAGR of 7.5% during FY'15-FY'20. Surging demand for water based adhesives in India is contributing to the growth of the adhesives industry in India . Government initiatives such as Make in India and Smart Cities projects are contributing to adhesive market growth. There is significant demand from the Western Region of India . Fluctuating raw material prices (VAM), which move in tandem with crude oil prices, high setup costs and high R&D expenditure required in the adhesives market is posing as a challenge to the adhesives industry in India . Global companies are expanding their presence to target a larger target audience across India . The market witnessed a decline in the demand for adhesives during the Q2 of 2020 owing to COVID-19 situation.
Ken Research
Ankur Gupta , Head Marketing & Communications
+91-9015378249
The North America Biocomposites Market is covered from 2017 – 2027 in this report, which includes a forecast for the period 2022-2027.
The North America Biocomposites Market is expected to witness a CAGR of above 12% over the next 5 years.
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.
Natural Polymer Composites is the fastest growing product segment within the 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.
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