Acumen Research and Consulting recently released the report titled “Wood Plastic Composites Market Size, Share, Analysis Report and Regional Forecast 2022 – 2030”
Beijing, July 25, 2022 (GLOBE NEWSWIRE) — Global Wood Plastic Composites Market The scale reached $5.582 billion in 2021 and is expected to reach $13.244 billion by 2030, growing at a CAGR of 10.3% during the forecast period from 2022 to 2030.
Wood-plastic composite (WPC) is a synthetic polymer made from wood chips and plastic composites such as PE-based composites, polypropylene (PP), polyvinyl chloride (PVC), and recycled plastics that improve pairing and provide long-term Development, durability, and cost savings in a variety of applications such as home furniture, automotive interiors, and kitchen appliances. Wood-plastic composites outperform conventional wood production in terms of durability, moisture content, shear strength, flexural resilience, and water permeability. These properties have led to increased demand for its use in guardrails, doors, floors, siding, windows, fencing and interior molding, as well as in the building and construction industry. Growing construction and construction industry in emerging markets is expected to drive the wood plastic composites market over the forecast period.
WPC is a natural composite material made of wood and sawdust. Due to its strength and durability, it is an environmentally friendly material for residential and commercial applications. Across numerous industries, composite materials can be selected in a number of ways. Because of the variety of woods, consumers can mix and match forests in composites. In addition, plastics make up more than 40% of wood and wood components. Wood-plastic composites are gaining popularity worldwide and are the most widely used materials in the construction industry due to their excellent properties. Wood-plastic composites are made of recyclable plastic materials, with low environmental impact and low cost.
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| market | Wood Plastic Composites Market | |
| Market size in 2021 | $5.582 billion | |
| 2030 Market Forecast | $13.244 billion | |
| CAGR during 2022-2030 | 10.3% | |
| Analysis period | 2018-2030 | |
| base year | 2021 | |
| forecast data | 2022-2030 | |
| Market segments covered | By product, application and geography | |
| geographic range | North America, Europe, Asia Pacific, Latin America, Middle East and Africa | |
| Key Company Profile | Axion Structural Innovations LLC, Fiberon, LLC, Beologic NV, PolyPlank AB, FkurKunststoff GmbH, Trex Company, Inc., Jelu-Werk Josef Ehrler GmbH & Co. KG, Guangzhou Kindwood Co. Ltd., TAMKO Building Products, Inc., Advanced Environmental Recycling Technologies, Inc., CertainTeed Corporation and Universal Forest Product. | |
| Report Scope | Market Trends, Drivers, Restraining Factors, Competitive Analysis, Player Analysis, Regulatory Analysis | |
| Custom range | 10 hours Free customization Consult with an expert | |
Global Wood Plastic Composites Market Growth Aspects
Wood-plastic composites are gaining popularity in the automotive and construction industries because of their low cost and ease of use in non-structural areas such as stairs, balconies and columns. Furthermore, wood-plastic composites have many advantages in general industry compared to their alternatives. Because they are strong, low maintenance, rust-free, waterproof, and resistant to high temperatures, they are used in interior decoration, car interiors, home and household appliances. As a result, the global demand for wood-plastic composites has increased. Furthermore, urbanization and industrialization are driving the growth of the civil engineering and construction sectors in developing countries; the aforementioned factors are driving the growth of the global wood composites market.
On the other hand, rising R&D and raw material costs restrain the market growth. Wood is a material that requires ongoing investigation. This composite material can be used for a range of tasks and is made of high-quality, expensive wood. The wood components market is therefore affected. Additionally, the industry is expected to see new growth potential from early-stage composite varieties made from greenwood polymers. The durability of eco-friendly composites is gaining popularity. Therefore, there is a growing demand for environmentally friendly composite materials in a wide range of applications.
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Building and construction applications are expected to lead the global WPC market
Rising demand for biodegradable and compostable materials for the manufacture of components, coupled with the excellent mechanical strength, weight saving and engine efficiency properties of wood-plastic composites, is expected to drive the building and construction applications of these composites over the forecast period in demand. WPC cladding has a wide range of applications including garden landscaping, extension of living spaces, replacement of stone features and residential decks with kitchen, dining and furniture spaces. Furthermore, rapidly increasing infrastructure investments in emerging economies coupled with increasing demand for aesthetically pleasing floors and furniture are driving the growth of wood-plastic composites in the building and construction sector.
Regional Overview of Wood Plastic Composites Market
North America, Europe, Asia Pacific, Latin America, Middle East and Africa are the regional classifications of the global wood plastic composites market. Asia Pacific is expected to grow at the fastest pace in the market throughout the forecast period owing to industrial growth and increasing consumption power. In addition, shifting consumer dynamics in China and India towards a real-life appearance, increased market competition, fragmented distribution, and an increasing number of dual-income households have created lucrative positions for industry players. Government initiatives to boost manufacturing growth will aid the growth of the wood-plastic composites market in these countries. Rising construction and construction activities in Asia-Pacific countries such as India, China and Japan owing to economic reforms and rising per capita income of individuals are driving the demand for wood-plastic composites.
Wood Plastic Composites Market Segmentation
Acumen Research and Consulting has segmented the global wood-plastic composites market on the basis of product and application. On the basis of product, the market is segmented into polyethylene, polyvinyl chloride, polypropylene, and others. On the basis of application, the market is segmented into building and construction, industrial and consumer goods, auto parts, and others.
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Wood Plastic Composites Market Players
Global key players in the wood plastic composite industry include Axion Structural Innovations LLC, Fiberon, LLC, Beologic NV, PolyPlank AB, FkurKunststoff GmbH, Trex Company, Inc., Jelu-Werk Josef Ehrler GmbH & Co. KG, Guangzhou Kindwood Co. Ltd., TAMKO Building Products, Inc., Advanced Environmental Recycling Technologies, Inc., CertainTeed Corporation and Universal Forest Product.
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