The global wood plastic composites market is projected to reach more than 7 million tons by 2025. Wood plastic composites (WPC) are compounds comprising recycled plastic and wood wastes with beneficial features such as reduced melting temperature resulting in lower energy costs for producers and further reducing the product’s environmental impact. However, higher costs for raw materials and mechanical strength and/or weight problems hamper their ability for various structural applications. On the other hand, the increased use of biodegradable raw materials in the global WPC industry is expected to generate opportunities.
Based on type, the global WPC market is segmented into Polyethylene, Polyvinylchloride, Polypropylene, others. Among this, Polyethylene is projected to dominate the market owing to its better properties. Moreover, the rising demand for polyethylene composites in the automotive industry owing to its low cost, high stiffness, and biodegradability is expected to further propel market growth over the coming years.
The procedure requires complex equipment and qualified workers hence increasing the overall cost of the product. In addition, a growing market for environmentally friendly low maintenance and high-performance products is anticipated in the next five years to raise global demand for wood-plastic composites. In terms of application, the global market is divided into Automotive, Building and Construction, Industrial and Consumer Goods, Others.
The global market of wood plastic composites is also segmented into various geographies such as North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America. North America accounted for a major market revenue share. Due to the growing application reach of the wood plastic composite, demand is expected to rise considerably over the next six years in the US. Market players have adopted merger as their key strategy to widen their brand portfolios and expand their market reach.
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
Key segments across Wood plastic composite market
- Type Overview, 2018-2025, (USD Billion) (Million Tons)
- Applications Overview, 2018-2025, (USD Billion) (Million Tons)
- Building and Construction
- Industrial and Consumer Goods
- Regional Overview, 2018-2025, (USD Billion) (Million Tons)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Central & South America
- Rest of Central & South America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East
- North America