Green Composites Market Summary
According to the new market research report “Global Green Composites Market Report 2024-2030”, published by QYResearch, the global Green Composites market size is projected to reach USD 20.15 billion by 2030, at a CAGR of 8.3% during the forecast period.
- Global Green Composites MarketSize(US$ Million), 2019-2030
Above data is based on report from QYResearch: Global Green Composites Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
- Global Green Composites Top14Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)
Above data is based on report from QYResearch: Global Green Composites Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
According to QYResearch Top Players Research Center, the global key manufacturers of Green Composites include The AZEK Company, Trex Company, Fiberon, Oldcastle Architectural, Avient, UPM Biocomposites, Anhui Sentai WPC Group, TTS Inc, FlexForm Technologies, Tecnaro GmbH, etc. In 2023, the global top five players had a share approximately 23.0% in terms of revenue.
- Green Composites,Global Market Size, Split by Product Segment
Based on or includes research from QYResearch: Global Green Composites Market Report 2024-2030.
In terms of product type, currently Wood Fibers is the largest segment, hold a share of 67.1%.
- Green Composites,Global Market Size, Split by ApplicationSegment
Based on or includes research from QYResearch: Global Green Composites Market Report 2024-2030.
In terms of product application, currently Building and Construction is the largest segment, hold a share of 54.0%.
- Green Composites,Global Market Size, Split by Region
Based on or includes research from QYResearch: Global Green Composites Market Report 2024-2030.
Market Drivers:
D1: Governments around the world are introducing regulations to reduce carbon emissions and encourage the use of environmentally friendly materials. These regulations and initiatives consist of tax benefits, subsidies, and incentives for industry players to adopt eco-friendly sustainable solutions such as green composites. For instance, the European Union has set a goal of reducing greenhouse gas emissions by 55% by 2030, and using eco-friendly composite materials can help achieve these goals.
D2: Consumers are becoming increasingly aware of the environmental impact of the products they use. Therefore, nowadays consumers are highly watchful of what they are purchasing and consuming. As a result, there is a growing demand for sustainable and environmentally friendly products, including eco-friendly composite materials.
D3: Growing demand for lightweight materials. Industries such as automotive and aerospace are increasingly focused on reducing the weight of their products to improve fuel efficiency and performance. Green composites, with their high strength-to-weight ratio, are ideal for such applications.
Restraint:
R1: High production costs: The production of green composites can be more expensive compared to traditional composites due to the cost of raw materials and the manufacturing process. This cost factor can hinder the widespread adoption of green composites, particularly in price-sensitive industries.
composites.
R2: Limited availability of raw materials: The availability of natural fibers and bio- based resins may be limited in certain regions, which can pose challenges to the production and scalability of green composites.
R3: Performance limitations: Although green composites offer many benefits, they may have certain performance limitations compared to traditional composites. These limitations need to be addressed through ongoing research and development to expand the application scope of green composites.
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 17 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.