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This reflects that the Green Composites industry is currently experiencing significant trends characterized by changes in the material science & engineering landscape. These materials made from natural fibers such as hemp or kenaf stalks combined with bio-degradable resins or soybean proteins can partially replace synthetic thermosetting composites used today; these are known as "green composites" or "bio-composites". One key trend is the increasing adoption of green composites in the automotive industry. Again, there has been a growing demand for green composites from construction and building materials companies operating worldwide. The usage of eco-friendly decking solutions made from renewable wood fibers instead of chemically treated 2-by-6 lumber could help prevent further deforestation, especially in tropical rainforests where most logging operations result in permanent land degradation due to typically high levels of rainfall throughout the year. The commitment within the construction industry towards green buildings and environment-friendly building materials drives demand for green composites over traditional construction materials having higher carbon footprints.
Additionally, there have been advancements in formulations aiming at improving performance characteristics and widening application areas within this sector (Green Composites). Manufacturers are now investing more in research & development to develop green composites with enhanced mechanical properties such as tensile strength, fire resistance attributes, and durability. The motivation behind this trend stems from biomaterials that can match up to composites in terms of performance but have sustainability benefits. On the regulatory front, there is an increasing focus on sustainability and environmental impact issues in the manufacturing industry, which encompasses composites. Manufacturers are modifying their formulations to meet recycling requirements, biodegradability specifications, and overall ecological safety. This is a reflection of the sector's commitment to sustainable practices as well as the stringency of regulations governing material usage.
Moreover, demand for green composites has been increasing across diverse markets triggered by geographic expansion tendencies, especially within emerging economies. Rapid industrialization and urbanization in areas like Asia-Pacific are driving demand for green composites across several applications, including automotive, construction, and consumer goods sectors. Such regions provide a growing market for manufacturers to position themselves well and address escalating demands from different industries. In terms of technological advancements, the Green Composites market is experiencing innovations in manufacturing processes to enhance efficiency and reduce environmental impact. This involves the deployment of advanced processing methods, the use of natural fibers obtained from sustainable sources, and the development of improved life-cycle assessment (LCA) based composite materials. The trend reflects a broader industry push towards green chemistry and sustainable practices in material manufacturing.
Green Composites Market Highlights:
Green Composites Market Overview
Green composites market is growing with a massive growth rate over the years, and it is anticipated to same growth in the years to come. Green composites, often referred to as bio composites, are made from bipolar matrix and reinforcement of natural fibers. Natural fibers used in green composites includes jute, wood flour, sugarcane bagasse, oil palm fiber, and rice husk. The matrix used in green composites is essential to protect the fibers from environmental degradation, mechanical damage, to hold together and to transfer the loads on it. More importantly, green composites are highly biodegradable, reasonable and recyclable as compared to petroleum based composites.
These composites are applicable in various industries including automotive, construction, aerospace, packaging, healthcare and others. Major market driver for green composites market is increasing concern for environment including reducing pollution level and producing eco-friendly products. This has led to increasing adoption of these composites in various industries by contributing significantly in global market growth. Reducing natural resources like crude oil, focus on reducing environmental pollution, and utilization of agricultural waste have created need for green composites by generating strong demand. Automakers are currently shifting towards green composites as natural fibers are tougher than steel and also cost-effective in terms of production. This has made green composites highly preferable in automotive industry and has contributed to global market growth. Apart from this, green composites are easily moldable and rigid in nature due to which they are highly adopted by construction and marine industry. Consequently, growing construction and marine industry have registered significant demand for these composites. Nevertheless, combination of natural fibers and composites can reduce dependence on petroleum based composites material. This in turn will uncover massive growth opportunities for global green composites market throughout the forecast period.
Recent Development
JinkoSolar Holding Co., Ltd., one of the world's largest and most innovative solar module producers, today announced the release of Neo Green panels in 2024. These N-type TOPCon Tiger Neo panels are manufactured at factories that have received the "Zero Carbon Factory" certification from TÜV Rheinland for meeting the certification's criteria and standards.
In 2023, IRT Jules Verne, a research institute in Bouguenais, France, launched SUSPENS, a €4.9 million ($5.3 million) 3.5-year European project. SUSPENS, in collaboration with 13 partners (listed below), will address the challenge of decreasing the environmental footprint of sandwich composite and hollow structure manufacturing for the automobile, marine leisure, and aeronautics industries.
Key Players:
Key players of the global green composites are Flex Form Technologies (U.S.), TECNARO GMBH (Germany), Procotex SA Corporation NV (Belgium), GreenGran BN (The Netherlands), UPM Biocomposites (Germany), MCG Biocomposites LLC. (U.S.) and ALPAS srl (Italy) and others.
Regional Analysis:
As of 2016, Asia Pacific is one of the largest and dominant markets for green composites and accounts for 43% of global market shares. The region expected to emerge as manufacturing hub for green composites in near future, due to India and China being one of the leading manufacturers of these composites. As green composites are largely used in automotive industry owing to its high biodegradability and recyclability, the flourishing automotive industry in this region has generated robust demand for these composites. Construction activities in Asia Pacific is anticipated to drive regional growth on account of huge investment by government in constructional projects. North America stands second in the global green composites market followed by Europe region. Stringent environmental regulation in both of these regions have driven strong demand for green composites. Construction Industry in Europe is anticipated to have enhanced gains in terms of regional growth, due to rising residential and non-residential projects directed by European government. On the other hand, Latin America has shown surprising growth over the past few years. This is due to favorable government policies, growth in construction industry and economic development in country like Brazil.
Segmentation:
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. Wood fiber further sub-segmented into jute, hemp, kenaf, sisal, coir, and others. Non-wood fibers into polyethylene, polypropylene, polyvinyl chloride, and others. Based on the application, global market has been segmented into automotive & transportation, aerospace, healthcare, military, construction, packaging and others. Geographically, the global market has been segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
Intended Audience:
- Green Composites manufacturers
- Traders and distributors of Green Composites
- Production Process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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