Research on Wood Plastic Composites Market, Growth & Development
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.
- 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.