Biocomposites Market growth 2023: Global Industry Future, Demand-Supply and Regional Growth Analysis to 2030
Biocomposites Market growth Synopsis Biocomposites Market is projected to be worth USD 60.61 billion by 2030, registering a CAGR of 14.20% during the forecast period (2022–2030). Biocomposites are developed from natural fibers like flax, jute, wood paper industry waste, hemp, etc. in the polymer matrix. These composites have vital applications in numerous industries, such as construction, packaging, and automobiles. The escalating need for eco-friendly, sustainable building materials and alternatives for plastic composites will be extremely favorable for the biocomposites market in the long run. The demand is especially high in emerging countries, given the rising number of smart cities and the surge in infrastructural advancements. Report Scope: Report AttributeDetails 2030 Market Size2030: USD 60.61 BillionCAGR14.20% (2022–2030)Base Year2021Forecast Period2022–2030Historical Data2020Forecast UnitsValue (USD Billion)Report CoverageRevenue Forecast, Competitive Landscape, Growth