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Bio-based Composite Material Market

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    Report

  • 132 Pages
  • August 2024
  • Region: Global
  • BCC Research
  • ID: 5645243
Description Jump to:

The Bio-based Composite Materials Market was valued at USD 5.9 Billion in 2024, and is expected to reach USD 9 Billion by 2029, rising at a CAGR of 7.4%.

Bio-based composite materials offer an eco-friendly alternative to traditional composites. The growing use of sustainable fiber in end-use industries such as transportation, building and construction, packaging, agriculture, medical and consumer goods further drives demand for bio-based composite materials in the global economy. For instance, bio-based composite materials are used by automotive manufacturers in door panels, dashboard trims, seat backs, thermoacoustic insulation, engine covers, battery casings and headliners.

To combat the rise in carbon emissions, governments are enacting strict regulations against traditional composites, polymer production and consumption. This has led producers of traditional composites such as the Azek Co. Inc., Trex Co. Inc., UFP Industries Inc., Universal Plastic Mold Inc. (UPM) and Norske Skog ASA to enter the bio-based composite materials market. Such support from government policies and growing consumer acceptance of bio-based composite materials will drive the market for bio-based composite materials during the forecast period.

Report Scope

This report covers the composite types, resin types and fiber types of bio-based composite materials and associated end-use industries. Estimated values are based on manufacturers’ total revenues. Projected revenue values are in constant U.S. dollars, unadjusted for inflation. The report also contains comprehensive information regarding bio-based composite materials and their users.

In this report, the global market for bio-based composite materials is divided into five segments:

  • Type (wood fiber and non-wood fiber).
  • Fiber type (wood fiber, hemp, flax and others).
  • Resin type (polyethylene, polypropylene, polyvinyl chloride and others).
  • End use (building and construction, transportation, industrial, consumer goods and others).
  • Region (North America, Europe, Asia-Pacific and RoW).

The Report Includes

  • 109 data tables and 55 additional tables
  • An overview of the global market for bio-based composite materials
  • Analyses of global market trends, with market revenue data from 2023, estimates for 2024, forecast for 2028, and projected CAGRs through 2029
  • Estimates of the market size and revenue forecast, and a market share analysis by type, fiber type, resin type, end-use industry and region
  • Facts and figures pertaining to market dynamics and technological trends
  • A look at products in the pipeline
  • Description of advanced manufacturing methods for nanocellulose materials and production process for thermomechanical pulp
  • Discussion of sustainability trends, including consumer attitudes, companies' ESG rankings, case studies and the ESG practices of leading companies
  • Analysis of the industry structure, including company market shares, recent M&A activity and venture funding
  • Competitive intelligence on the leading companies' products, business strategies and financials
  • Company profiles of major players within the industry, including UPM, UFP Industries Inc., Norske Skog, The Trex Co. Inc., and The Azek Co. Inc.

Table of Contents

Chapter 1: Executive Summary
  • Market Outlook
  • Scope of Report
  • Market Summary
Chapter 2: Market Overview
  • Market Definition
  • Importance of Bio-based Composite Materials
Chapter 3: Market Dynamics
  • Market Dynamics Snapshot
  • Market Drivers
    • Greenfield Projects and Investment in Infrastructure
    • Technological Advances in Bio-based Composite Materials
    • Growing End-use Applications
  • Market Restraints
    • Lower Strength than Traditional Composites
    • Lack of Awareness in Certain Economies
  • Market Opportunities
    • Transportation Industry
    • Supportive Government Policies
  • Market Challenges
    • Processing and Manufacturing Challenges for Customized Grade
Chapter 4: Regulatory Landscape
  • Regulatory Bodies
Chapter 5: Emerging Technologies and Developments
  • New and Emerging Technologies
  • Thermomechanical Pulp
  • Advanced Manufacturing Methods for Nanocellulose Materials
Chapter 6: Supply Chain Analysis
  • Analysis of Supply Chain for Bio-based Composite Materials
Chapter 7: Market Segmentation Analysis
  • Market Analysis by Type
    • Wood Fiber
    • Non-wood Fiber
  • Market Analysis by Resin Type
    • Polyethylene (PE)
    • Polypropylene (PP)
    • Polyvinyl-Chloride (PVC)
    • Other Resin Types
  • Market Analysis by Fiber Type
    • Wood Fiber
    • Hemp
    • Flax
    • Other Fiber Types
  • Market Analysis by End-Use Industries
    • Building and Construction
    • Transportation
    • Industrial
    • Consumer Goods
    • Other Industries
  • Market Analysis by Region
    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World
Chapter 8: Competitive Intelligence
  • Market Ranking Analysis
  • Strategic Analysis
Chapter 9: Sustainability in the Global Bio-based Composite Material Market: ESG Perspective
  • ESG in the Bio-based Composite Materials Industry
  • ESG Ratings and Metrics: Understanding the Data
  • ESG Practices in the Bio-based Composite Material Market
  • Current Status of ESG in the Bio-based Composite Material Market
  • Risk Scale, Exposure Scale and Management Scale
  • Future of ESG: Emerging Trends and Opportunities
  • Concluding Remarks from BCC Research
Chapter 10: Appendix
  • Methodology
  • Information Sources
  • References
  • Abbreviations
Company Profiles
  • Fiberon
  • FlexForm Technologies
  • Green Dot Bioplastics
  • Huangshan Huasu New Material Science & Technology Co. Ltd.
  • JELU-WERK J. Ehrler GmbH & Co. KG
  • Meshlin Composites ZRT.
  • Norske Skog
  • Procotex
  • Tecnaro GmbH
  • The Azek Co. Inc.
  • Trex Co. Inc.
  • TTS
  • UFP Industries Inc.
Lis
t of Tables
Summary Table: Global Market for Bio-based Composite Materials, by Region, Through 2029
Table 1: Factors Affecting the Selection of Bio-based Composite Materials
Table 2: Leading Exporters of Wood Fiberboard, by Country, 2022
Table 3: New Car Registrations, by Region, 2022 and 2023
Table 4: Number of Greenfield Projects, by Region, 2021 and 2022
Table 5: Leading Hemp Fiber Producing Countries, by Volume, 2021
Table 6: Regulatory Bodies Overseeing the Production of Bio-based Composite Materials
Table 7: Properties of Natural Fibers
Table 8: Global Market for Bio-based Composite Materials, by Type, Through 2029
Table 9: U.S. Data for Forest and Wood Products, 2021 and 2022
Table 10: Global Market for Wood Fiber Bio-based Composite Materials, by Region, Through 2029
Table 11: Hemp Seed Production Volume, by Country, in 2022
Table 12: Global Market for Non-wood Fiber Bio-based Composite Materials, by Region, Through 2029
Table 13: Uses for Bio-based Composite Materials in Transportation
Table 14: Global Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 15: Global Market for PE Fiber Bio-based Composite Material, by Region, Through 2029
Table 16: Global Market for PP Bio-based Composite Materials, by Region, Through 2029
Table 17: Global Market for PVC Fiber Bio-based Composite Materials, by Region, Through 2029
Table 18: Global Market for Other Resin Types of Bio-based Composite Materials, by Region, Through 2029
Table 19: Chemical Treatment of Natural Fibers
Table 20: Global Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 21: Global Market for Wood Fiber Bio-based Composite Materials, by Region, Through 2029
Table 22: Leading Exporters of Hemp Fibers, by Country, 2022
Table 23: Global Market for Hemp Fiber Bio-based Composite Materials, by Region, Through 2029
Table 24: Leading Countries in Exports of Flax Fiber, 2022
Table 25: Global Market for Flax Fiber Bio-based Composite Materials, by Region, Through 2029
Table 26: Global Market for Other Fiber Types Bio-based Composite Materials, by Region, Through 2029
Table 27: FDI Inflows, by Country, 2021 and 2022
Table 28: Global Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 29: Investments in Building and Construction, by Country, 2022-2023
Table 30: Global Market for Bio-based Composite Materials in the Building and Construction Industry, by Region, Through 2029
Table 31: Leading Automobile Producing Countries in the EU, 2022 and 2023
Table 32: Global Market for Bio-based Composite Materials in the Transportation Industry, by Region, Through 2029
Table 33: GDP Growth Forecasts for Asia-Pacific Countries, 2023 and 2024
Table 34: Global Market for Bio-based Composite Materials in the Industrial Sector, by Region, Through 2029
Table 35: Global Market for Bio-based Composite Materials in Consumer Goods, by Region, Through 2029
Table 36: Global Market for Bio-based Composite Materials in Other End-use Industries, by Region, Through 2029
Table 37: Global Market for Bio-based Composite Materials, by Region, Through 2029
Table 38: North American Market for Bio-based Composite Materials, by Country, Through 2029
Table 39: North American Market for Bio-based Composite Materials, by Type, Through 2029
Table 40: North American Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 41: North American Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 42: North American Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 43: U.S. Construction Market, Revenue by Type, 2021 and 2022
Table 44: U.S. Market for Bio-based Composite Materials, by Type, Through 2029
Table 45: U.S. Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 46: U.S. Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 47: U.S. Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 48: Canadian Construction Market, Revenue by Type, 2021 and 2022
Table 49: Canadian Market for Bio-based Composite Materials, by Type, Through 2029
Table 50: Canadian Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 51: Canadian Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 52: Canadian Market for Bio-based Composite Material, by End-Use Industry, Through 2029
Table 53: Mexican Market for Bio-based Composite Materials, by Type, Through 2029
Table 54: Mexican Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 55: Mexican Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 56: Mexican Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 57: Motor Vehicle Production, by European Country, 2022 and 2023
Table 58: European Market for Bio-based Composite Materials, by Country, Through 2029
Table 59: European Market for Bio-based Composite Materials, by Type, Through 2029
Table 60: European Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 61: European Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 62: European Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 63: German Market for Bio-based Composite Materials, by Type, Through 2029
Table 64: German Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 65: German Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 66: German Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 67: French Market for Bio-based Composite Materials, by Type, Through 2029
Table 68: French Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 69: French Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 70: French Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 71: U.K. Market for Bio-based Composite Materials, by Type, Through 2029
Table 72: U.K. Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 73: U.K. Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 74: U.K. Market for Bio-based Composite Materials by End-Use Industry, Through 2029
Table 75: Rest of European Market for Bio-based Composite Materials, by Type, Through 2029
Table 76: Rest of European Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 77: Rest of European Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 78: Rest of European Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 79: Asia-Pacific Market for Bio-based Composite Materials, by Country, Through 2029
Table 80: Asia-Pacific Market for Bio-based Composite Materials, by Type, Through 2029
Table 81: Asia-Pacific Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 82: Asia-Pacific Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 83: Asia-Pacific Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 84: China’s Timber Production Volume, by Province, 2020 and 2021
Table 85: Chinese Market for Bio-based Composite Materials, by Type, Through 2029
Table 86: Chinese Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 87: Chinese Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 88: Chinese Market for Bio-based Composite Material, by End-Use Industry, Through 2029
Table 89: Japanese Market for Bio-based Composite Materials, by Type, Through 2029
Table 90: Japanese Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 91: Japanese Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 92: Japanese Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 93: Indian Market for Bio-based Composite Materials, by Type, Through 2029
Table 94: Indian Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 95: Indian Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 96: Indian Market for Bio-based Composite Material, by End-Use Industry, Through 2029
Table 97: Motor Vehicle Production in the Rest of Asia-Pacific, by Country, 2021 and 2022
Table 98: Rest of Asia-Pacific Market for Bio-based Composite Materials, by Type, Through 2029
Table 99: Rest of Asia-Pacific Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 100: Rest of Asia-Pacific Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 101: Rest of Asia-Pacific Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 102: Motor Vehicle Production in RoW, by Country, 2021 and 2022
Table 103: RoW Market for Bio-based Composite Materials, by Country, Through 2029
Table 104: RoW Market for Bio-based Composite Materials, by Type, Through 2029
Table 105: RoW Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 106: RoW Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 107: RoW Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 108: Brazilian Market for Bio-based Composite Materials, by Type, Through 2029
Table 109: Brazilian Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 110: Brazilian Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 111: Brazilian Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 112: Argentinian Market for Bio-based Composite Materials, by Type, Through 2029
Table 113: Argentinian Market for Bio-based Composite Materials, by Resin Type, Through 2029
Table 114: Argentinian Market for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 115: Argentinian Market for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 116: Scorecard for Environmental Sustainability, by Country, 2023
Table 117: Other RoW Countries Markets for Bio-based Composite Materials, by Type, Through 2029
Table 118: Other RoW Countries Markets for Bio-based Composite Materials, by Resin Type, Through 2029
Table 119: Other RoW Countries Markets for Bio-based Composite Materials, by Fiber Type, Through 2029
Table 120: Other RoW Countries Markets for Bio-based Composite Materials, by End-Use Industry, Through 2029
Table 121: Leading Companies in the Market for Bio-based Composite Materials, 2023
Table 122: ESG Ratings and Metrics
Table 123: ESG Circular Economy Issue Analysis
Table 124: Labor Welfare Issue Analysis
Table 125: Governance Issue Analysis
Table 126: ESG Scorecard for Four Companies
Table 127: Risk, Exposure and Management Scales
Table 128: Abbreviations Used in this Report
Table 129: Fiberon: Company Snapshot
Table 130: Fiberon: Product Portfolio
Table 131: FlexForm Technologies: Company Snapshot
Table 132: FlexForm Technologies: Product Portfolio
Table 133: Green Dot Bioplastics: Company Snapshot
Table 134: Green Dot Bioplastics: Product Portfolio
Table 135: Green Dot Bioplastics: News/Key Developments, 2021
Table 136: Huangshan Huasu New Material Science & Technology Co. Ltd.: Company Snapshot
Table 137: Huangshan Huasu New Material Science & Technology Co. Ltd.: Product Portfolio
Table 138: JELU-WERK J. Ehrler GmbH & Co. KG: Company Snapshot
Table 139: JELU-WERK J. Ehrler GmbH & Co. KG: Product Portfolio
Table 140: Meshlin Composites Zrt.: Company Snapshot
Table 141: Meshlin Composites Zrt.: Product Portfolio
Table 142: Norske Skog: Company Snapshot
Table 143: Norske Skog: Financial Performance, FY 2022 and 2023
Table 144: Norske Skog: Product Portfolio
Table 145: Norske Skog: News/Key Developments, 2022
Table 146: Procotex: Company Snapshot
Table 147: Procotex: Product Portfolio
Table 148: Tecnaro GmbH: Company Snapshot
Table 149: Tecnaro GmbH: Product Portfolio
Table 150: The AZEK Co. Inc.: Company Snapshot
Table 151: The AZEK Co. Inc.: Financial Performance, FY 2022 and 2023
Table 152: The AZEK Co. Inc.: Product Portfolio
Table 153: Trex Co. Inc.: Company Snapshot
Table 154: Trex Co. Inc.: Financial Performance, FY 2022 and 2023
Table 155: Trex Co. Inc.: Product Portfolio
Table 156: TTS: Company Snapshot
Table 157: TTS: Product Portfolio
Table 158: UFP Industries Inc.: Company Snapshot
Table 159: UFP Industries Inc.: Financial Performance, FY 2022 and 2023
Table 160: UFP Industries Inc.: Product Portfolio
Table 161: UPM: Company Snapshot
Table 162: UPM: Financial Performance, FY 2022 and 2023
Table 163: UPM: Product Portfolio

List of Figures
Summary Figure: Global Market for Bio-based Composite Materials, by Region, 2023 and 2029
Figure 1: Market Dynamics of Bio-based Composite Materials
Figure 2: Production of Light Commercial Vehicles, by Region, 2022-2023
Figure 3: Supply Chain Analysis: Bio-based Composite Materials
Figure 4: Global Market Shares of Bio-based Composite Materials, by Type, 2023
Figure 5: Global Market Shares of Bio-based Composite Materials, by Resin Type, 2023
Figure 6: Global Market Shares of Bio-based Composite Materials, by Fiber Type, 2023
Figure 7: Global Market Shares of Bio-based Composite Materials, by End-Use Industry, 2023
Figure 8: Global Production Capacity for Bioplastics, 2023-2028
Figure 9: Share of Green Private Investment in Infrastructure, by Region, 2022
Figure 10: Global Market Shares of Bio-based Composite Materials, by Region, 2023
Figure 11: Investment in Infrastructure in the Building and Construction Industry, by Region, 2018 and 2022
Figure 12: Production of Wood Pellets in Germany, 2021-2023
Figure 13: Production of Wood Pellets in Sweden and Portugal, 2021 and 2022
Figure 14: GDP Growth Rate in Asia-Pacific Economies, 2022 and 2023
Figure 15: Investments through Venture Capital in Indian Real Estate, 2022 and 2023
Figure 16: FDI Inflows in Brazil, 2020-2022
Figure 17: FDI Inflows in Argentina, 2020-2022
Figure 18: Overview of ESG Factors
Figure 19: Norske Skog: Revenue Share, by Business Unit, FY 2023
Figure 20: Norske Skog: Revenue Share, by Region, FY 2023
Figure 21: The AZEK Co. Inc.: Revenue Share, by Business Unit, FY 2023
Figure 22: UFP Industries Inc.: Revenue Share, by Business Unit, FY 2023
Figure 23: UFP Industries Inc.: Revenue Share, by Country/Region, FY 2023
Figure 24: UPM: Revenue Share, by Business Unit, FY 2023
Figure 25: UPM: Revenue Share, by Country/Region, FY 2023

Companies Mentioned

  • Fiberon
  • FlexForm Technologies
  • Green Dot Bioplastics
  • Huangshan Huasu New Material Science & Technology Co. Ltd.
  • JELU-WERK J. Ehrler GmbH & Co. KG
  • Meshlin Composites ZRT.
  • Norske Skog
  • Procotex
  • Tecnaro GmbH
  • The Azek Co. Inc.
  • Trex Co. Inc.
  • TTS
  • UFP Industries Inc.

Table Information

Report AttributeDetails
No. of Pages132
PublishedAugust 2024
Forecast Period2024 - 2029
Estimated Market Value ( USD ) in 2024 $ 5.9 Billion
Forecasted Market Value ( USD ) by 2029 $ 9 Billion
Compound Annual Growth Rate7.4%
Regions CoveredGlobal
No. of Companies Mentioned13

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