The report "Biocomposites Market by Fiber (Wood Fiber and Non-Wood Fiber), Polymer (Synthetic and Natural), Product (Hybrid and Green), End-Use Industry (Transportation, Building & Construction and Consumer Goods), and Region - Global Forecast to 2022", The global biocomposites market was valued at USD 16.46 Billion in 2016 and is projected to reach USD 36.76 Billion by 2022, at a CAGR of 14.44% from 2017 to 2022.
The biocomposites market is driven by government regulations regarding the use of environmentally friendly products and the safety & recyclability of biocomposites as compared to glass and carbon fiber composites. Also, technological advancement in the mass production of biocomposites is one of the factors driving the biocomposites market globally.
