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Bamboos Market Overview
The bamboos market
size is forecast to reach US$92.3 billion by 2027 after growing at a CAGR of 5.2%
during 2022-2027. Bamboos are herbaceous or woody grass found under diverse
climatic conditions, ranging from cold
mountains to hot tropical regions. The demand for bamboo catapulted in a wide
range of industries owing to its excellent durability and eco-friendly
properties. Bamboos are implemented extensively in the construction of houses, scaffoldings,
floors, roofs, bridges, roads, and many other structures. The construction
sector is booming globally and this will contribute to the market’s growth in
the forecast market. For instance, according to the January 2021 stats by India Brand Equity
Foundation, demand for residential properties has increased owing to increased
urbanization. Furthermore, bamboos are an integral part of the production of
several furniture products such as chairs, tables, mat boards, plywood, among others.
The furniture industry is expanding globally and this will contribute to the
growth of the market in the forecast period. For instance, as per the CEIC Data
report, furniture data was reported 372.218 in February 2021 which was an increase
compared to the number of 371.172 in January 2021. Other industries such as pulp & paper, and
agriculture will drive the growth of the market significantly in the forecast
period. The high operation cost associated with bamboo might affect the growth
of the market in the forecast period.
COVID-19 Impact
The bamboos market was impacted deeply due to the COVID-19 pandemic. Challenges in the form of disruption in the supply chain and idling of factories surfaced amid the pandemic, making the business movements critical. Market players came up with modified working patterns to maintain a standard business operation during the pandemic. However, the business in the bamboo market was still affected owing to the severity of the pandemic. As per the March 2020 report by Swicofil AG, the company faced difficulty in providing services to its business partner and customers. The market witnessed decent growth towards the end of 2020 with the increase in the demand for bamboo in several end-use industries. Going forward, the market is projected to witness significant demand in the forecast period owing to expansion in end-use industries such as construction, furniture, paper, among others.
Report Coverage
The report: “Bamboos Market Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Bamboos Industry.
By End Use Industry: Food and Beverage, Construction, Bridges, Houses, Scaffolding, Falls, Floors, Roofs, Roads, Textile, Musical Instrument, Flutes, Rattles, Drums, Pulp & Paper, Healthcare, Jewellery, Furniture, Beds, Chairs, Tables, Lamps, Mat Boards, Plywood, Fishing, Sports and Recreation, Electronics, Personal Care and Cosmetics, Agriculture, Others
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa).
Key Takeaways:
- The construction sector will contribute to the market’s growth in the forecast. For instance, according to the November 2021 report by Council on Foreign Relations (CFR), the US Congress approved an investment amounting to $1 trillion for the up-gradation of physical infrastructures such as bridges and roads.
- The furniture sector will contribute to the growth of the market in the forecast period. For instance, as per the December 2021 data by UK’s Department for International Trade, furniture goods accounted for USD 19.96, making it the highest segment in the top five goods imported to the UK from Belarus in 2021.
- The Asia-Pacific region will witness the highest demand for bamboos in the forecast period owing to the booming construction sector in the region. For instance, according to the report by India Brand Equity Foundation, FDI received in construction (infrastructure) activities amounted to US$ 25.38 billion between April 2000 and June 2021.
Figure: Asia Pacific Bamboos Market Revenue, 2021-2027 (US$ Billion)
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Bamboos Market - By End Use Industry
The construction industry dominated the bamboos market in 2021 and is growing at a CAGR of 5.2% in the forecast period. Owing to its flexibility and combined strength, bamboo is used massively in the construction of several structures that includes roads, bridges, floors, scaffoldings, etc. The construction industry is booming globally with increasing constructional activities and this will contribute to the growth of the market in the forecast period. For instance, as per the 2021 Statistical Report by European Construction Industry Federation, in 2020, Germany witnessed a growth of 1.5% in real terms in total investment in construction. Similarly, according to the August 2021 report by Eurostat, the building construction sector in the European Union and Euro Area increased by 3.8% and 3.1% respectively in June 2021. Such a massive boost in the global construction industry will stimulate the higher implementation of bamboos in the construction of various structures which in turn will drive the growth of the market in the forecast period. The furniture industry is projected to drive the growth of the market robustly in the forecast period. Other end-use industries such as pulp & paper, and agriculture will drive the growth of the market significantly in the forecast period.
Bamboos Market - By Geography
The Asia-Pacific region held the largest market share in the bamboos market in 2021 with a market share of up to 32%. The high demand for bamboos in the region is attributed to the growing construction industry. Bamboos are massively used in the construction of scaffoldings, floors, and roofs in the region’s emerging economies such as China, India, and Japan. The construction sector is booming in the region with increasing construction activities and this will increase the higher implementation of bamboos in the forecast period. For instance, according to the stats by India Brand Equity Foundation, India is anticipated to become the third-largest construction market by 2022 globally. Similarly, as per the report by trade.gov, the construction industry revenue value in China is expected to reach US$ 1.1 trillion in 2021 which was US$ 968 billion in 2019. Such massive growth in the region’s construction sector will augment the higher uses of bamboos in the forecast period. The North American region will witness significant demand for bamboos owing to the expanding furniture sector in the region.
Bamboos Market Drivers
Booming construction industry will drive the market’s growth
Bamboo finds its massive uses in the construction of roads, scaffoldings, falls, among others. The construction industry is booming globally with the increasing construction activity and this will contribute to the growth of the market in the forecast period. For instance, as per the stats by European Construction Industry Federation, net investment in new construction works accounted for US$ 13.46 billion in 2020 which was 9.3% higher than 2019. Similarly, according to the data by India Brand Equity Foundation, the residential sector in India is projected to grow significantly as the central government announced to build 20 million affordable houses throughout the country by 2022. This massive growth in the construction industry globally will augment the demand for bamboos in various construction activities and, in turn, this will contribute to the growth of the market in the forecast period.
Expanding furniture industry will drive the growth of the market
Bamboos are widely utilized in the production of several furniture products that includes chairs, lamps, mat boards, plywood, among others. The furniture industry is expanding globally and this will drive the growth of the market in the forecast period. For instance, as per the 2020-2021 report by Crescendo Worldwide, the Indian furniture market is projected to garner US$ 61.09 billion by 2023. Similarly, as per the data by census.gov, imports of furniture in the US accounted for US$ 50,277 million in 2021 which was US$ 39,446 million in 2020. Such massive expansion in the global furniture industry will amplify the uses of bamboos in various furniture products and this will contribute to the growth of the market in the forecast period.
Bamboos Market Challenges
High operation cost associated with bamboos might affect the market’s growth
The operation cost of bamboo is relatively high which has been a major challenge in the market and this might affect the growth of the market in the forecast period. Bamboo is used in grid packing which involves bamboo slivers, polypropylene piping, and rods. The use of bamboo grid packing has increased in industrial use in the last few years. However, its expensive operation cost restricts it from reaching its full potential. For instance, as per the September 2021 data by International Network for Bamboo and Rattan (INBAR), the operation cost of bamboo grid packing is higher compared to PVC packing. Furthermore, the process for suppliers for proving a bamboo product’s legality is also costly. Such high operating costs associated with bamboos might hamper the growth of the market in the forecast period.
Bamboos Market Industry Outlook
Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the market. Bamboos top 10 companies include:
- MOSO International B.V.
- Bamboo Australia Pty. Ltd.
- EcoPlanet Bamboo
- Dasso Group
- Shanghai Tenbro
- Swicofil AG
- CFF GmbH & Co. KG
- Liahren
- Tengda Bamboo-Wood Co. Ltd.
- Smith & Fong Co Inc.
Recent Developments
In March 2020, Netherland-based MOSO International B.V. announced the acquisition of German bamboo manufacturing company Bambeau Becker. Such acquisitions will help in expanding the market’s growth in the forecast period.
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