Biocomposites Market Size, Share, Growth Analysis, By Polymer type(Synthetic Polymers and Natural Polymers), By Product(Hybrid and Green), By Fiber Type(Wood Fiber, and Non-wood Fiber), By End User(Building and Construction, Transportation, and Consumer Goods), By Region - Industry Forecast 2024-2031

Global Biocomposites Market size was valued at USD 28.55 billion in 2022 and is expected to rise from USD 33.15 billion in 2023 to reach USD 109.42 billion by 2031, at a CAGR of 16.10% over a forecast period (2024-2031).

Biocomposites are polymer-encased natural fibres such as hemp, wood and paper industry waste, jute, and flax. From construction to packing to autos, these composites have a wide range of uses. Due to its high specific strength, low density, low cost, good mechanical qualities, biodegradability, eco-friendliness, and non-abrasiveness for the predicted period, "non-wood fibre" is the fibre type sector with the quickest growth. Sustainable building materials and alternatives to plastic composites are in greater demand. As a result, environmentally friendly biocomposites have become well-liked building materials. Furthermore, according to the forecast for 2023–2030, tight environmental regulations are anticipated to encourage the growth of the biocomposite market.

The market for biocomposites is anticipated to increase in the upcoming years because they are environmentally beneficial. Because they have superior mechanical and physical features and a wide range of advantages, the market is anticipated to expand strongly in the upcoming years.

US Biocomposites Market is poised to grow at a sustainable CAGR for the next forecast year.