A biocomposite is a material made up of two or more unique constituent materials combined to produce a new material that outperforms the individual constituent elements. Due to their biocompatibility, excellent mechanical characteristics, and biodegradability, their blends of diverse materials are employed for various tissue engineering and therapeutic applications. According to BlueQuark Research & Consulting, the global Biocomposites market is expected to witness a significant growth rate during the forecasted period. Factors like the increasing use of Biocomposites in the automotive industry, as biocomposites are often lightweight materials, help to cut down on commuting time and greenhouse gas emissions, are expected to drive the global market. Further, in the building & construction industry, Biocomposites are used in ceiling tiles, furniture, windows, and doors due to lower weight and lower manufacturing cost projected to drive the global market. Furthermore, in the electronic industry, in LEDs, biocomposite materials have brought a lot of appealing features to the overall performance and characteristics of display systems, driving the global market. However, due to their fluctuating cost and low strength compared to glass fiber and its processing temperature restrictions, poor fire resistance, high hydrophilicity, and low heat resistance are some disadvantages of the product and are expected to hinder the global market growth.

Biocomposite's qualities make it ideal for making wood trim, seat fillings, seat backs, headliners, interior panels, dashboards, and thermoacoustic insulation, among other automobile components. Structural biocomposites include load-bearing walls, staircases, roof systems, and subflooring in the building & construction sector. It is used in manufacturing sensors, optics, photovoltaics, electromagnetic shielding, fuel cells, flexible displays, and microwave absorbers in the electronic industry. It is used in aircraft motors and in the medical industry, the osteoconductive characteristics of beta-tricalcium phosphate are used in biocomposite implants which gives 18 months of continuous bone growth. It is also used in food packaging.

The Automotive Industry is the most vital consumer of Biocomposites and is projected to drive the Global Market. Biocomposites provide a wide selection range of uses in the automobile industry. They are perfect for interior car elements due to their outstanding acoustic and thermal properties, making the Global Biocomposites bound to rise. Lightweight vehicle sales in the United States fell to their lowest level since early 2010, with 717,578 units sold in April 2020. This is down from more than 418,000 units sold at the start of 2020 and more than 921,000 units sold in August when 1.6 million automobiles were sold. With 994,707 units sold in March 2020, sales began to drop, but April was the first whole month of significant factory shutdowns due to stay-at-home orders and the closure of non-essential enterprises. Vehicle sales surged to 1 million units sold in November 2021, with the resumption of production and businesses. As new fuel economy performance regulations are imposed, the automobile industry has developed a strong interest in lightweight. Parts consolidation, design optimization, and material replacement are the strategies used, with sustainable biocomposite polymers playing a pivotal role in lowering vehicle weight, which is expected to grow and drive the overall market in the future. Therefore the mentioned use of Biocomposites in the Automotive Industry is expected to grow and drive the overall market.

The North American region is expected to be the leader in producing and consuming Biocomposites, with most consumption in countries like the U.S. and Canada. The demand for the automotive industry is increasing due to the increasing demand for vehicles worldwide. Biocomposite materials can provide a solution to many problems in the automobile sector, thus driving the global Biocomposites market. Due to high growth in the building & construction industry, Biocomposites are used in decking, fencing, doors, and windows as they are environmentally friendly and helps to reduce increasing costs, which drives the need for Biocomposites in the Global Market. In the electronic industry, Biocomposite materials are used in the fabrication of light-emitting displays to the biobased organic light-emitting diodes due to their transparent nature, driving the global Biocomposites market. In the aerospace industry, Biocomposite panels are used in aircraft motors, which helps reduce the cost of production and will be manufactured by a fast, high quality, and highly efficient industrial process, driving the global market. In the medical industry, due to their improved physical, biological, and mechanical properties, biocomposites with calcium orthophosphates incorporated as a filler or a coating and either into or onto a biodegradable polymer matrix in the form of particles or fibers are increasingly being considered for use as bone tissue engineering scaffolds, expected to drive the global Biocomposites market. In the packaging industry, nano-biocomposites are used in food packaging materials with an improved mechanical, barrier, antioxidants, and antimicrobial properties. The mentioned factors have made North America an important region for growth in the Biocomposites Market.

Some of the market's key players are UPM-Kymmene Oyj, Arkema S.A., Trex Company, Inc., Technaro GmbH, Mitsubishi Plastics, Inc., among others.

In March 2020, UPM created a new world-class biocomposite material that satisfies the most stringent sustainability criteria. The new UPM Formi EcoAce material combines certified wood and cellulose fibers and certified renewable P.P. polymers from SABIC's TRUCIRCLETM solutions, which are created with wood-based feedstock from UPM Biofuels manufacturing.

The Global Biocomposites Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Biocomposites market by segmenting based on the By Type (Natural, Synthetic, Others), By Property (Biocompatible, Biodegradable, Bioactive, Others), By Fibers (Non-wood Natural Fibres, Wood Fibers, Others), By Application (Automotive, Building & Construction, Electronics, Aerospace, Medical, Packaging, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.