Wood Plastic Composites Market, By Resin Type (Polyethylene, Polypropylene, Poly Vinyl Chloride, Oth

Published Date: April 2019 | Report Code : MT1931366

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Wood Plastic Composites Market is projected to reach USD 10.19 billion by 2028 at a CAGR of 11.5% during the forecast period. Increasing demand from automotive components, furniture, and other applications is expected to boost this demand. Composites are materials made from two or more constituent materials that are different from each other in physical and chemical properties, which, when combined, produce a material with characteristics and properties different from each of the individual components. Each component will remain separate and distinct within the finished structure. The main components of composites are fibers, which are the reinforcing material (for instance, aramid, carbon, wood, etc.) and the matrix, which is the binder (for instance- bitumen, polyester, vinyl ester, etc.).

Wood Plastic Composites Market

In wood plastic composites, the matrix or binder is a plastic material such as polyethylene, polyvinyl chloride, etc. and the fiber or the reinforcing material is wood such as bamboo, peanut hulls, pine, oak, etc. Additives such as reinforcing agents, colorants, and lubricants can be added to achieve higher levels of specification according to the intended product use. One of the biggest advantages of wood plastic composites is that they do not corrode and are highly resistant to rot, decay, and marine borer attacks. Composites can be molded into almost any desired shape. The production of wood plastic composites does not require the use of any harmful chemicals such as arsenic toxins, chromium, etc., which have been banned by many governments due to their harmful effects.

Wood Plastic Composites Market

They are used in a variety of applications including building and construction, automobiles, in the manufacturing of goods such as toys, trays, musical instruments, etc. They are increasingly being used in interiors of cars, speakers, home furniture, and kitchen appliances, as they are durable, require low maintenance, rust-free, and can endure high temperatures.

North America is leading the market and accounts for more than 50% share of the total market. This is mainly due to the use of wood plastic composites for construction in the region.

Key Factors Impacting Market Growth:

  • Durable, low maintenance, rust-free, and can withstand high temperatures
  • Can be molded in almost any desired shape
  • Increasing demand from the automobile and construction industry
  • Harmful chemicals such as arsenic toxins, chromium, etc., are not required in the production

Key Developments:

  • In April 2018, a US-based company, Cali Bamboo added a decking line made of wood plastic composite (60% recycled wood fiber and 40% high-density plastics).
  • In May 2018, a bio-composite called DuraSense was launched by a partnership between companies Stora Enso and Orthex. It is a wood plastic composite made from spruce and pine. It can be used in a variety of consumer products and can potentially replace non-renewable materials.
  • In September 2017, CertainTeed Corporation launched a polyurethane composite siding called ICON which has superior moisture resistance.

What This Study Provides:

  • Global market and submarket forecast covering the period of 2016 to 2028, with accompanying analysis
  • Regional market and submarket forecast covering the period of 2016 to 2028, with accompanying analysis
  • National market and submarket forecast covering the period of 2016 to 2028, with accompanying analysis
  • Extensive details and analysis of contracts, projects, and program
  • Market dynamics scenario, along with growth opportunities of the market in the years to come
  • Analysis of game-changing technological trends and how these will shape the industry
  • Explanation or political, regulatory and technical factors to consider
  • Barriers to entry analysis for markets around the world
  • Profiles of leading companies operating within the sector with market share analysis
  • SWOT analysis of the market, together with the opportunities available and the key threats faced
  • Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • Market conclusions & recommendations

Market Segmentation:

By Resin Type:

  • Polyethylene
  • Polypropylene
  • Poly Vinyl Chloride (PVC)
  • Others

By Manufacturing Process:

  • Extrusion
  • Compression Molding
  • Injection Molding
  • Others         

By Application:

  • Building & Construction
  • Automotive Components
  • Furniture
  • Consumer Goods
  • Electrical
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Resin Type
    • By Manufacturing Process
    • By Application
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Resin Type
    • By Manufacturing Process
    • By Application
  • Western Europe
    • By Country (Germany, UK, France, Spain, Rest of Western Europe)
    • By Resin Type
    • By Manufacturing Process
    • By Application
  • Middle East
    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
    • By Resin Type
    • By Manufacturing Process
    • By Application
  • Asia Pacific
    • By Country (China, Japan, India, Rest of Asia Pacific)
    • By Resin Type
    • By Manufacturing Process
    • By Application
  • Rest of the World
    • By Region (South America, Africa)
    • By Resin Type
    • By Manufacturing Process
    • By Application

Companies Covered: Fiberon LLC., Fkur Kunststoff GmbH, Universal Forest Products Inc., TimberTech, CPG International, Advanced Environmental Recycling Technologies, Trex Company Inc., Perth Wood Plastic Composite Co. Ltd., and Renolit… 

Years Considered In The Study

 

Historic Year

2016, 2017

Base Year

2018

Forecast Period

2019-2028 

CAGR %(2019-2028)

11.5

 

Key Questions Answered By This Report:

  • How is the wood plastic composites market evolving?
  • What is driving and restraining wood plastic composite dynamics?
  • How will each wood plastic composite submarket segment grow over the forecast period and how much Sales will these submarkets account for in 2028?
  • How will market shares of each wood plastic composite submarket develop from 2019-2028?
  • Which wood plastic composites submarket will be the main driver of the overall market from 2019-2028?
  • How will political and regulatory factors influence regional wood plastic composites markets and submarkets?
  • Will leading national wood plastic composites broadly follow macroeconomic dynamics, or will individual country sectors outperform the rest of the economy?
  • How will market shares of the national markets change by 2028 and which nation will lead the market in 2028?
  • Who are the leading players and what are their prospects over the forecast period?
  • How will the sector evolve as alliances form during the period between 2019 and 2028?

Reasons To Buy This Report:

  • Market size estimation of wood plastic composites market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

For more information, contact: [email protected]

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