Global Wood Plastic Composite Market By Product Type (PE-based Composites, PVC-based Composites, PP-based Composites), By Application (Building and Construction, Outdoor Decking & Fencing and Others) and By Region - Global Forecast 2030
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6442
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April 2023
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This report was compiled by Correspondence Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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“Global Wood Plastic Composite (WPC) Market” is the title of a recently published market report compiled by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global wood plastic composite market has been segmented on the basis of product type, application, as well as regions and countries.
The Global Wood Plastic Composite Market was valued at UЅD $4,389.5 Мn in 2020, and is projected to achieve a valuation of UЅD $9,953.8 Мn by 2030, at a САGR of 10.2%.
Overview:
Wood Plastic Composites (WPCs) are composite materials made of wood fiber/wood flour and thermoplastic(s) such as Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), or Polylactic Acid (PLA). In addition to wood fiber and plastic, WPCs can also contain other lignocellulosic and/or inorganic filler materials.
Dynamics:
The increasing usage of wood plastic composites in the automotive industry for various applications, and the steady expansion of the automotive industry, especially in recent times, is a major factor that is anticipated to continue to boost the revenue growth of the global wood plastic composite market over the next decade. Moreover, the raw materials used in the manufacture of composites used by the automotive industry possesses several favorable properties, offering enhanced biodegradability, as well as aids in the lowering of production costs, and helps improve passenger safety. These are factors that are slated to further compliment the market growth of this global industry in the years to come.
Furthermore, wood plastic composites offer increased durability and help improve the shelf life of various products, which is another reason why it is increasingly being used in the manufacturing sector. Several emerging economies are presently experiencing a significant boom in the manufacturing sector, and this factor is expected to fuel new opportunities for revenue growth of the global wood plastic composites market in the foreseeable future.
However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global wood plastic composites market is no different, and this factor is anticipated to have a significantly negative impact on the revenue growth of this industry. In addition, erratic fluctuations in the cost of raw materials needed for the manufacture of wood plastic composites is another factor that may restrain the revenue growth of the global wood plastic composite market in the near future.
Nevertheless, the high usage of recyclable materials in the manufacture of wood plastic composites as well as the easy processing nature of these products are some of the other factors that are expected to increase its adoption among various end-user industries, thereby surging opportunities for revenue growth of the global wood plastic composites market over the next 10 years.
Segmentation of the Global Wood Plastic Composite Market is as follows:
In terms of product type, the PE-based composites segment accounted for the maximum number of revenue shares of the global wood plastic composite market in 2020, and this segment is expected to continue doing so over the next decade. However, the PP-based composites segment is anticipated to index the highest CAGR over the forecast period.
On the basis of application, the outdoor decking & fencing segment accounted for the maximum number of revenue shares of the global wood plastic composite market in 2020, and this segment is slated to continue doing so over the next 10 years. The building & construction segment is also anticipated to register a high CAGR over the forecast period.
Regional Segmentation and Analysis:
North America accounted for the maximum number of revenue shares of the global wood plastic composites market in 2020, and is indicative of retaining its respective market position over the next decade. However, the markets in Asia Pacific region are anticipated to index the highest CAGR over the course of the forecast period.
Segmentation of the Global Wood Plastic Composite Market:
Segmentation by Product Type:
- PE-based Composites
- PVC-based Composites
- PP-based Composites
- Other Types
Segmentation by Application:
- Building and Construction
- Outdoor Decking & Fencing
- Automotive Components
- Industrial & Consumer Products
- Other Applications
Segmentation by Regions:
- North America
- Europe
- APAC
- South America
- MEA
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn -
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- TREX Company Inc.
- AZEK Building Products Inc. (TimberTech)
- ANDERSEN CORPORATION
- Ply Gem Industries Inc.
- Silvadec SA
- Komdeck
- Vann Plast Ltd. (Epwin Group PLC)
- TherraWood UK Ltd.
- Tecnodeck (Mitera Group)
- Beologic NV
- RENOLIT GOR S.p.A.
- NFP Europe Limited (NOVO-TECH GmbH & Co KG decking)
- TECNARO GMBH