Wood Plastic Composite market is segmented by Type (Polyethylene, Polyvinylchloride, Polypropylene, Others), Application (Building & Construction Products, Automotive Components, Industrial & Consumer Goods, Others), and Region (North America, Europe, Asia-Pacific, Rest of World)
Wood Plastic Composite Market size was estimated at $5904.2 Million in 2019 and is expected to reach $12570.7 Million by 2027, growing at a CAGR of 11.4% during the forecast period of 2020 to 2027.
The wood plastic composite is made up of low water absorption, low moisture content, shear strength, bending strength, highly durable product mixes in comparison to the conventional wooden products. The durability and beneficial properties have made these composites to be widely used in landscape materials, interior moulding, flooring, fencing, exterior siding, doors, windows and railings. The construction material is exceptionally sustainable, thereby increasing the demands of its use in a wide range of repair and renovation activities of the residential and commercial sectors globally.
Wood Plastic Composite Market Growth Factors
The global demand for the wood-plastic corporate market which had closed at 5.3 billion USD in the previous year, 2019 is all set to register a massive growth rate of about 11.4 % over the next few years. Such growth has also been a direct result of the rising demand in rental homes for single families where most of the builders have centred on redesigning models with an expected efficiency to meet production demands for the coming years. While up until 2018 over 70% of urban regions witnessed a rise in such development projects, the direct result of enhancing opportunities towards the use of wood plastic composite is forecasted to be on a surge during the coming years. Corporate biggies, including Cisco, IBM and Microsoft, are also on investment spree with taking up mega projects for building smart and sustainable cities all around the world. This shows a promising rise in the curve with investments soaring up to 135 trillion USD over the next two years. Hence, it is easily forecasted that the wood plastic composite market is on a rising graph in the next few years through 2024.
Wood Plastic Composite Market Segmentation
Wood Plastic Composite Market Country Analysis
The value of the wood plastic composite market size is expected to reach $5.84 billion by 2021. The U.S. is currently dominating this market due to the extensive application of wood plastic composite in manufacturing window frames, porches, and docks. Emerging markets such as Asia-Pacific and Central and South America are projected to register massive growth. The growth in this region will be driven by the change in consumer habits in the Asia Pacific, increasing dual-income households, rising local competition, and substantial growth in construction projects in Central and South America. The key companies that are driving the growth of the wood plastic composite market include Trex Company, Inc., Tamko Building Products, Inc., Axion International, Inc., and Polyplank AB.
Wood Plastic Composite Market Share and Competition
Key companies operating in this industry are: Trex Company, Inc. (U.S.), Advanced Environmental Recycling Technologies, Inc. (U.S.), Universal Forest Products, Inc. (U.S.), Fiberon, LLC (U.S.), TAMKO Building Products, Inc. (U.S.), TimberTech (U.S.), Axion International, Inc. (U.S.), Beologic N.V. (Belgium), CertainTeed (U.S.), Fkur Kunststoff GmbH (Germany.), Josef Ehrler GmbH & Co. KG. (Germany), Polymera, Inc. (U.S.) and Polyplank AB (Sweden).
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2020 - 2027)
Application Analysis (Revenue, USD Million, 2020 - 2027)
• Building and Construction Products
• Automotive Components
• Industrial & Consumer Goods
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Wood Plastic Composite Market Companies
• Trex Company, Inc. (U.S.)
• Advanced Environmental Recycling Technologies, Inc. (U.S.)
• Universal Forest Products, Inc. (U.S.)
• Fiberon, LLC (U.S.)
• TAMKO Building Products, Inc. (U.S.)
• TimberTech (U.S.)
• Axion International, Inc. (U.S.)
• Beologic N.V. (Belgium)
• CertainTeed (U.S.)
• Fkur Kunststoff GmbH (Germany.)
• Josef Ehrler GmbH & Co. KG. (Germany)
• Polymera, Inc. (U.S.)
• Polyplank AB (Sweden).
United States Wood Plastic Composite Market Industry Research Report
Europe Wood Plastic Composite Market Industry Research Report
Asia Pacific Wood Plastic Composite Market Industry Research Report
Dow Chemical Company, an American Based multinational corporation, has launched a new product ‘Amplify Si PE 1000’, which is designed for decking of wood plastic composites, on its new SEPS platform in October 2019. The Silicone-Polyethylene Hybrid systems id said to be stronger for decking and other applications.
Moisture Shield, a line of moisture-resistant composite decking, has announced the launch of its new product ‘Elevate’ in November 2019. The new product is said to be a low-cost protection for composite decking. The demand of wood plastic composites is increasing in the construction community. The top leading companies that are trading the product globally, are TAMKO Building Products, Trex Company, Inc., Axion international Inc., TimberTech, and Fiberon LLC. All these multinational companies operate from U.S and have an impact on almost 90% of the wood plastic composite industry. These companies acquire a great amount of expertise in the field and have strong technical development skills which enables them to excel in the WPC industry globally.
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