Research on Wood Plastic Composites Market, Growth & Development

Global Wood Plastic Composites (WPC) Market was valued at $2,551 million in 2016, and is expected to reach at $6,584 million by 2023, registering a CAGR of 12.6% from 2017 to 2023. Asia-Pacific is expected to dominate the market, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.

WPCs are composed of wood or wood flour, plastics, and additives. The source of the materials can be either virgin or recycled material. The demand for materials based on renewable raw materials has risen steadily in the recent years. Furthermore, increase in interest from governments about climate protection and sustainability results in expansion of market size of natural-based materials such as wood plastic composites (WPC).
WPC provides a challenge to solid wood/polymer products as alternative construction materials and is expected to increase on a large scale in the near future due to development of more recycled products. Furthermore, reliable and consistent recyclable material supply chains are required for strong market growth, though high demand from automotive sector is expected to augment the market growth.
The building & construction segment accounted for more than three-fourths share of the global market in 2016, in terms of volume, and is expected to maintain its dominance during the forecast period, owing to its improved performance and appearance characteristics. However, automotive components are also expected to grow with a high rate due to rise in demand for recyclable and lightweight materials.

Key Findings of the Wood Plastic Composites Market:
  • In terms of value, the building & construction segment is expected to grow at a CAGR of 12.6% during the forecast period.
  • In Asia-Pacific, China is estimated to grow at the highest CAGR of 12.9%, in terms of value.
  • PVC-based composites occupied around one-eighth of the global market share in 2016, in terms of volume.
  • U.S. accounted for over one-fifth of the global market in 2016, and is expected to grow at a significant CAGR of 8.8%, in terms of volume.
The major companies profiled in the report include, Advanced Environmental Recycling Technologies, Inc., Axion International, Inc., Beologic N.V., Certainteed Corporation, Fiberon, LLC., Fkur Kunststoff GmbH, Polymera, Inc., Tamko Building Products, Inc., Timbertech Ltd., and Trex Company, Inc.



Popular posts from this blog

Reinforced honeycomb sandwich material market

Technology Trends Drives The Capsule Endoscopy System In 2015

Contactless Payments Market Expected to Reach $25,565 Million by 2023