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Bamboos are used for a wide range of things around us, like building fences, fishing rods, boats, and other things. When compared to other types of wood, bamboo is both lightweight and robust. In addition, bamboos are very machine-friendly and are simple to mould into useful objects.
Bamboo is a versatile multi-purpose forest produce and plays a vital role in the world’s domestic and industrial economies. Bamboo and bamboo-based products are used for a wide range of indoor and outdoor applications, owing to its abundance and versatility.
Ascending demand from key end-use industries such as paper & pulp, building & construction, textile, and wood is projected to primarily drive demand for bamboos. The global bamboos market would progress at a high double-digit CAGR during 2022 – 2029, reaching a mark of US$ 12 Bn in 2029, as projected by a new Future Market Insights (FMI) study.
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Key Takeaways – Bamboos Market Study
The pulp & paper end-use industry segment in the global bamboos market is witnessing high growth, and is expected to follow the same trend over the forecast period owing to utilization of bamboo as a raw material in the production of paper & pulp.
Bamboo produces about 35% more oxygen as compared to other trees. Additionally, its biomass is an efficient and cheap fuel for power generating units. As a result of this, the power sector is focusing on bamboos as a source of fuel for power generation.
Asia Pacific (APAC) is expected to maintain its dominance in the global bamboos market throughout the forecast period in terms of volume as well as value. This can be mainly attributed to the growing construction industry in China and India, supported by surging infrastructural investments. APAC has more than half of the total bamboo species available in the world.
Thriving penetration of green building technologies is supporting the demand for bamboos due to utilization in construction of scaffolding. Moreover, there is a continuous demand for bamboo furniture, plywood, and outdoor decking in various countries.
Who Is Winning the Bamboos Landscape?
The global bamboos market is fairly fragmented, with small- and medium-scale enterprises accounting for major market share in the global market. Some of the key market players included in the report are Moso International B.V., Bamboo Village Company Limited, and Shanghai Tenbro Bamboo Textile Co. Ltd.
New product launches and developments are some of the key strategies adopted by market players to retain their position in the global bamboos market. The companies are engaged in continuously participating in different events, conferences, tradeshows and seminars to market their newly launched products across the globe.
High growth in construction, pulp & paper, and furniture industries is expected to be a key driving factor for bamboos market growth. China is a large exporter of processed bamboo products such as bamboo plaiting, bamboo shoots, bamboo panels, wood charcoal of bamboo, etc., whereas countries such as the U.S., Canada, and other European countries where very small bamboo resources are available import bamboo products requirement from other bamboo-rich countries.
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Know More About What the Report Covers
FMI, in its new research report offers an unbiased analysis of the global bamboos market, presenting historical demand data (2014-2021) and forecast statistics for the period 2022-2029. The study reveals insights on the bamboos market and covers market dynamics, market share analysis, pricing analysis, and channel partners involved in the bamboos market value chain.
Readers can also find key trends and market growth scenarios based on end-use industry and regions such as North America, Latin America, APAC, and Europe and Middle East & Africa (EMEA).
Explore FMI’s Extensive Coverage on Chemicals & Materials Domain
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post Bamboos Market to Record a CAGR of 10.8%, Valuation to Reach US$ 12,204.5 Mn by the end of 2029 appeared first on Future Market Insights.
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