According to IMARC Group’s latest research report, titled “Wood-Plastic Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global wood-plastic composites market size reached US$ 4.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.5 Billion by 2027, exhibiting a growth rate (CAGR) of 11.6% during 2022-2027.
Wood-plastic composites (WPCs) are manufactured by blending natural wood products, including pulp, bamboo, and bark, with polymers or thermoplastics. They are also created from recycled, renewable, and biodegradable plastic materials that can be easily drilled and planed. They can be shaped in any form as they are durable, rot-resistant, versatile and possess qualities of both wood and plastic. Also, they are suitable for high-temperature zones, which makes them ideal for locations where normal wood materials cannot be used. Consequently, they are extensively used in the field of transportation, building construction, landscape, and municipal engineering.
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Wood-Plastic Composites Industry Demand Analysis:
The growing demand for sustainable construction materials majorly drives the global market. This can be attributed to the increasing concerns regarding deforestation and the shifting preference for recycled raw materials. Since they act as an ideal substitute for hardwood, and their manufacturing process does not involve the usage of toxic chemicals that are harmful for the environment, this is providing a thrust to the market growth. Along with this, the rising number of renovation and repair activities, including the construction of staircases, pillars, and balconies, are significantly supporting the demand for wood plastic composites. Some other factors driving the market further include rapid urbanization and continual advancements in the processing of wood-plastic composites.
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Key Market Segmentation:
Top Manufacturers in Wood Plastic Composite Industry Worldwide:
The competitive landscape has also been examined in the market report with some of the key players being 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., TimberTech and Universal Forest Product.
Breakup by Type:
- Polyethylene
- Polyvinylchloride
- Polypropylene
- Others
Breakup by Application:
- Building and Construction
- Automotive
- Industrial and Consumer Goods
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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