Green Composites Market 2019: Potential Growth, Attractive Valuations Make It as

Posted by Mangesh Mahajan on January 6th, 2020

Market Overview

Green Composites are highly adopted by automotive industry as well as construction industry, due to properties including physical and chemical properties associated with these composites. Extensive research is going on these composites, as they are reasonable recyclable, and biodegradable in order to increase its utilization. Over the years, major concern of decreasing natural resources like crude oil led to increase in adoption of Green Composites Materials, which is expected to drive the market growth in coming years. On the other hand, shifting trend of automakers from petro based composites to Green Composites, which has surged massive demand for these composites.

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Regional Analysis

In terms of value and volume Asia Pacific emerged as dominating region as of 2016, with majority global market shares of 43%. Asian market growth is highly attributed to massive growth in automotive industry, and construction industry, and strict environment regulations directed by governments. The region estimated to emerge as manufacturing hub for these composites, as major producers such as China and India are from this region. Moreover, China and India collectively produces more than half of the green composite, which is overall produced in the global market. Japan and South Korea are the other important markets in Asia Pacific region. Furthermore, green composites are being gradually favorable in healthcare applications, which has made this industry to contribute in the regional growth, up to some extent. Automotive industry is on peek in this region and automakers are shifting their trends from petro based composites to green composites. Due to which Asia Pacific will be dominating global market throughout the forecast period of 2017 to 2023.

North America is the second largest market for green composites and accounted for slightly below one third of global market shares. U.S. and Canada are the key markets driving regional growth for these composites. Especially, Canada augmented slightly higher demand for green composites as it has couple of big suppliers in this country. Moreover, stringent environmental regulation in this region likely to have positive impact on the regional growth in the years to come. Furthermore, dominating aerospace industry in this region led to increase in application of green composites in this industry by marching towards overall regional growth. On the other hand, Europe green composite market predicted to have increased numbers of regional shares over the forthcoming years. This is due huge investment in construction industry coupled with increasing spending on residential and non- residential as well as commercial constructional projects by government. 

Key Players:

• Flex Form Technologies
• TECNARO GMBH
• Procotex SA Corporation NV

Segmentation Analysis

The Global Green Composites Market is majorly segmented on the basis of fiber type, application, and regions. Market segmentation based on type of fibers include wood and non-wood fibers. Non-wood fiber further sub-segmented into jute, hemp, kenaf, sisal, coir, and others. Wood fibers into polyethylene, polypropylene, polyvinyl chloride, and others. Based on the application global market has been segmented into automobile, railway coach, aerospace, healthcare, military, construction, packaging and others. Geographically global market has been segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.

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