Tag Archives: Biocomposites Market Demand

Biocomposites Market Competition, Concentration Rate, Production Status and Outlook Forecast to 2023

Global biocomposites market is projected to reach $8,473.4 million by 2023. The market growth is driven by growing demand for bio-based composites from construction and furniture industries.  Additionally, increasing demand for biodegradable, non-toxic, and moisture as well as thermal resistant materials in the building and construction is anticipated to drive the market in this region.

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.

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