Wood Plastic Composite Market: Summary
The Global Wood Plastic Composite Market is projected to reach a value of over USD 11.8 Billion by 2027 at a CAGR of around 11.5%.
Woodplastic composite is a material that comprises waste wood and recycled plastic. It has beneficiary features such as reduced melting temperature resulting in lower energy costs for producers and further reducing the products environmental impact. Resistance to rot, dimensional stability, excellent thermal properties, low moisture absorption, good stiffness, and impact resistance are some of the excellent properties of wood plastic composite. These properties make it suitable for a wide array of applications such as interiors, home furniture’s, speakers, kitchen accessories and many others.
Wood Plastic Composite Market: Drivers & Challenges
- Increasing Demand from Construction Industry
Increasing demand for woodplastic composite from the construction industry has expected to drive the product market growth during the forecasted period due to its unique physical, aesthetic, and practical qualities of both wood and plastic. Woodplastic composite is a material which has superlative properties of plastic and similar look like wood due to which it is gaining popularity in the building and construction industry. Moreover, the wide availability of wood plastic composite in unique quantities and is used in various building structures such as underwater structures, temporary installations, roof, paths, and others.According to U.S. Census Bureau, in June 2020 new 36,52,000 residential buildings were constructed.
- Higher Initial Investment Cost
Higher initial investment cost associated with these composite is anticipated to hinder the growth of the woodplastic composite market. For instance, the purchase costs of wood plastic composites decking higher than that of plastics and wood. Plastic decking and wood decking are cheaper than that of composite decking. Some countries such as India, China, and Brazil are rich in wood production and prefer wood over wood plastic composites. Moreover, the composites are mixtureof plastics and wood fibers and not 100% real.Therefore,it has a good thermal expansion of the material and shrinkage of plastic which may cause the floor to curve. Thus, higher initial investment cost has anticipated ti hinder the growth of wood plastic composite market.
Wood Plastic Composite Market: Key Segments
- Segmentation based ontype: Polyethylene (PE), Polystyrene (PS), Polypropylene (PP),Polyvinyl chloride (PVC),andOthers.
- Segmentation based on application: Building & Construction, Automotive Components, Consumer Goods, Industrial, Furniture,and Others.
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America with individual country-level analysis.
Wood Plastic Composite Market: Report Scope
The report on the wood plastic compositemarket covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million), Volume (Kiloton)
Type, Application, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- BSW Timber Ltd(Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Fortune Brands Home & Security, Inc.
- Trex Company, Inc.
- UFP Industries, Inc.
- FkurKunststoff GmbH
- Croda International Plc
- Beologic N.V.
- RENOLIT SE
- The AZEK Company LLC
- Axion Structural Innovations
- Resysta International
- Shanghai Seven Trust Industry Co.,ltd
- Meghmani Group
- JELU-WERK J. Ehrler GmbH & Co. KG
- Other Key Companies
Wood Plastic Composite Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Wood Plastic Composite Market, by Type
- Polyethylene (PE)
- Polystyrene (PS)
- Polypropylene (PP)
- Polyvinyl chloride (PVC)
Wood Plastic Composite Market, by Application
- Building & Construction
- Automotive Components
- Consumer Goods
Wood Plastic Composite Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Wood Plastic Composite Market Providers
- Wood Plastic Composite Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Wood Plastic Composite Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE WOOD PLASTIC COMPOSITE MARKET STUDY