The Global Wood-Plastic Composites Market is projected to reach USD 10.19 billion by 2028, at a CAGR of 5.8% between 2018 and 2028. According to Quince Market Insights, the increasing demand for durable materials for manufacturing toys, automotive interiors, etc., is one of the major factors influencing the demand for wood-plastic composites market. The report provides a detailed analysis of emerging market trends, market size, and forecasting, detailed overview of major companies operating in the market, impact factors influencing the market, etc.
Wood-plastic composites are used in numerous industries for the manufacturing of toys, automotive, furniture, home décor items, etc. Wood-plastic composites are highly resistant to rot or decay, which is a major factor driving the market and fueling their demand. Moreover, these composites can be molded into any shape or structure, which is leading to its demand in various industries.
Increasing demand for wood-plastic composites
Countries in developing regions such as the Asia Pacific, the Middle East, and South America have witnessed economic growth in the past few decades. The rising demand for durable materials from many different industries for the production of their products is one of the key factors fueling the growth of the wood-plastic composites market. Based on resin type, the wood-plastic composites market has been segmented into polyethylene, polypropylene, polyvinyl chloride, others. Some of the major application areas of wood plastic composites are building & construction, automotive components, furniture, consumer goods, electrical, and others.
North America expected to witness high demand during the forecast period
North America is the fastest-growing market for wood-plastic composites, owing to the increasing infrastructural projects in the region. Moreover, the growing population is resulting in an increase in infrastructure or residential projects, which has propelled the demand for wood-plastic composites. This is driving the wood-plastic composites market.
Major companies manufacturing wood-plastic composites, such as Fiberon LLC., FkurKunststoff GmbH, Universal Forest Products Inc., TimberTech, CPG International, Advanced Environmental Recycling Technologies, Trex Company Inc., Perth Wood Plastic Composite Co. Ltd., and Renolitamong have been profiled in the study to provide a competitive view about the market.
By Resin Type
By Manufacturing Process
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