Biocomposites are materials of many phases, where at least one phase is made from biological or renewable resources. Usually, these materials consist of a matrix or binder phase and reinforcing fibers or particles derived from natural sources. The matrix phase is typically derived from sustainable sources, such as plant polymers, including starch, cellulose, or soy-based resins. The reinforcing process may include the integration of natural fibers, like flax, hemp, jute, or kenaf, as well as particles derived from resources like wood, bamboo, or other agricultural waste.
Over the past few years, there has been a significant increase in public awareness of environmental issues and a corresponding sense of urgency to reduce greenhouse gas emissions. Statista reports that worldwide greenhouse gas (GHG) emissions increased by 1.7 percent in 2022, reaching an unprecedented level of 53.8 billion metric tons of carbon dioxide equivalent (GtCO₂e). Since 1990, there has been a 60 percent increase in global greenhouse gas (GHG) emissions. Carbon dioxide (CO₂) accounts for over 75% of greenhouse gas emissions and is the major driver of climate change. Consequently, there is an anticipation of a rise in the market for biocomposites made up of renewable and biodegradable materials.
The biocomposites market has witnessed a substantial surge in research and development initiatives due to the potential to improve their properties and functionality. For instance, in 2022, Zaheeruddin Mohammed, a Department of Materials Science & Engineering graduate at Tuskegee University in Alabama, United States, teamed with colleagues to showcase progress in sustainable methods for improving biocomposite reinforcement. The research clearly describes a method for creating biochar, a top-notch carbon material derived from organic sources, that enhances the durability of polymers in 3D printing applications.
Furthermore, in December 2022, SeaBioComp, a collaborative effort, successfully developed and produced cutting-edge bio-based composite materials as substitutes for conventional oil-based products in the maritime sector. The flax-based thermoplastic biocomposites were exhibited using several production methods, creating multiple demonstration items tailored for use in the marine environment. Such improvements in research and development will provide opportunities for market expansion.
Asia-Pacific is the most significant global biocomposites market shareholder and is expected to expand substantially during the forecast period. The region has seen swift industrialization and urbanization, resulting in a substantial demand for biocomposites across several industries. As a result, it has emerged as the most rapidly expanding market for biocomposites. This rapid urbanization and industrialization are responsible for the rise in detrimental greenhouse gas emissions. For instance, in 2021, China's carbon dioxide (CO2) emissions surpassed 11.9 billion tons, accounting for 33% of global emissions, as reported by the IEA. As a result, there has been a substantial rise in the need for renewable resources, specifically biocomposites, in this region.
Moreover, the region's ample natural fibers and cost-effective workforce give it a competitive edge in the biocomposites market. China, India, and Japan are the predominant nations in the region owing to their sizable populations and rapidly growing economies, which greatly contribute to the need for biocomposites.
The key global biocomposites market players are Bcomp Limited, Flex Form Technologies, Fortune Brands Home, Mitsubishi (Japan), Meshling Composites, Nanjing Jufeng New Materials Limited, Tecnaro GmbH, Trex Company, SAPPI, UFP Industries, UPM, and others.
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