Global wood plastic composite market accounted for a market volume of 4 million tons and is further projected to grow at a CAGR of more than 9%. The rising demand from the building and construction applications is one of the important factors driving growth in the wood-plastic composites market. Based on that conventional wood is one of the most commonly used in this field, construction applications hold a big share of the wood plastic composites industry. These are also considered environmentally friendly as they are often manufactured of by-products from the recycled plastic and saw-mill products.
WPC can work in high temperature areas where it is not feasible to use ordinary timber materials. The production of such products facilitates the reuse of wood waste that is sent elsewhere in sites of waste. The application of this product avoids deforestation by serving as an ideal replacement for hard wood.
The global Wood Plastic Composite market worth USD 17.56 billion by 2030, growing at a CAGR of 12.38%
Furthermore, no additives that can be hazardous or detrimental to the manufacturing process of wood plastic composites. These environmental concerns and rising awareness regarding them act as a primary factor which has been driving the growth of the market.
Wood Plastic Composite Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 17.56 billion|
|Growth Rate||CAGR of 12.38 % during 2022-2030|
|Segment Covered||By Application, By Type, Region|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Advanced Environmental Recycling Technologies, Inc. (AERT) (U.S.), AIMPLAS (Valencia), Axion Structural Innovations LLC (U.S.), Beologic N.V. (Belgium), CertainTeed Corporation (U.S.), Croda International Plc (UK), Dow (Michigan), Fiberon, LLC (U.S.), Fkur Kunststoff GmbH (Germany), Fortune Brands Inc. (U.S), HARDY SMITH (India), Jelu-Werk Josef Ehrler GmbH & Co. KG (Germany),Meghmani Group (India) Polymera, Inc. (U.S.), PolyPlank AB (Sweden)|
Key Segment Of The Wood Plastic Composite Market
By Application, 2022-2030 (USD Million)
o Building and Construction
• Molding & siding
o Automotive Components
o Industrial and Consumer Goods
By Type, 2022-2030 (USD Million)
Regional Overview, 2022-2030 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The most outstanding aspect is that this composite can be entirely produced using recycled materials. To top it off, used WPC can even be recycled to create brand new WPC, making WPC the ultimate recyclable commodity. WPC can be used as natural lumber for a number of building projects. Activities such as planing, drilling, and pilling can be easily done on WPC as easily as it could be with wood. In addition, when you are using a screw at the end of the boards, WPC is less likely to split or break, which may be a common issue in real wood. Timber Plastic Composites (WPC) blends polymer with timber fiber and creates a material with the inherent properties of wood and a range of other benefits.
In terms of type the global wood plastic composite market is categorized into Polyethylene, Polyvinylchloride, Polypropylene, Others. Polyethylene holds the major market revenue as well as volume share in the year 2019 and is projected to show similar trend over the forecast period. However, fluctuating raw material prices is the key factor hindering the growth of this market.
In terms of application, the global WPC market is segmented into Automotive, Building and Construction, Industrial and Consumer Goods, Others. Currently, building and construction holds the major market share across the global WPC market and is projected to show similar trend over the forecast period followed by automotive, industrial goods and others.
In terms of region the global Wood plastic composite market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East and Africa. The most demand growth for the projected period is anticipated in North America regions because of increased disposable income (specifically in U.S.), which drives WPC market. Asia Pacific is another lucrative region owing to huge population and growing construction activities across India.
In recent years, this area has also experienced growth due to investment by MNCs and growing industries. Key players include Trex Company, Inc., Axion Structural Innovations LLC, Beologic N.V., Oldcastle Architectural Inc., CertainTeed Corporation, Fiberon, LLC, Fkur Kunststoff GmbH, Guangzhou Kindwood Co. Ltd., Jelu-Werk Josef Ehrler GmbH & Co. KG, Woodmass, PolyPlank AB, Renolit, TAMKO Building Products, Inc