The global wood
plastic composite market is expected to reach USD 9.77 billion by
2024, according to a new report by Grand View Research, Inc. Increasing demand
for wood plastic composites in construction industry particularly in decking,
fencing, and molding & siding applications is expected to be the key driver
for the market growth. Superior mechanical strength, low maintenance and weight
reduction offered by these products are expected to propel demand in the
construction industry over the next eight years.
Rising automakers focus
towards making every automotive part biodegradable, and recyclable is expected
to open new avenues for the material over the next eight years. The product is
used in door panels, seat cushions, cabin linings, backrests, and dashboards.
The most commonly used wood species for commercial wood plastic composite
products include maple, oak, and pine. Product cost and regional availability
of raw material are expected to be a key factor for wood plastic composites
manufacturers over the projected period.
Rising application scope
for wood plastic composites for manufacturing various other products including
musical instruments, shoe soles, toys, and trays is expected to have a positive
impact on the market growth. Growing demand for bio-plastics in niche
applications such as household electronics and edge protection for packaging is
expected to propel demand over the projected period.
Browse full research
report on Wood Plastic Composite Market:
Further key findings
from the report suggest:
- North America was the largest
segment for the Wood Plastic Composite market in 2015 accounting over 45%
of the global volume. Growing construction sector in the region owing to
rising investments in new infrastructure projects is expected to augment
growth. Furthermore, increasing residential and commercial building
renovation activities in the region is expected to have a positive impact
on the growth.
- Polyethylene based wood plastic
composites dominated the industry accounting over 55% of the market share.
Excellent molecular bonding stability and structure offered by
polypropylene, which makes the product robust, is expected to be a key
factor for the product demand.
- Europe demand for wood plastic
composites in automotive applications was valued over USD 65 million in
2015. Automotive industry is the most crucial sector in the Europe and
accounts over 4% of European GDP. Germany dominated the premium car
production in 2015 accounting over 40% of the total market. Adoption of
new technologies, increasing use of bio-based products and high
investments in R&D are expected to open new avenues for the product
market.
- Key players in the industry
include Advanced Environmental Recycling Technologies, Inc., Axion
International, Inc., Fkur Kunststoff GmbH, Beologic N.V., Certainteed,
Fiberon, LLC, JELU-WERK J. Ehrler GmbH & Co. KG, Guangzhou Kindwood
Co. Ltd., Josef Ehrler GmbH & Co. Kg, Polymera, Inc., Renolit,
Polyplank AB, Tamko Building Products, Inc., Timbertech and Trex Company,
Inc.
Browse more reports of
this category by Grand View Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has
segmented the wood plastic composite market on the basis of product,
application and region:
Wood Plastic Composite
Market Product Outlook (Volume, KiloTons; Revenue, USD Million, 2013 - 2024)
- Polyethylene
- Polypropylene
- Polyvinylchloride
- Others
Wood Plastic Composite
Market Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 -
2024)
- Automotive components
- Building and construction
- Decking
- Molding & siding
- Fencing
- Industrial and consumer goods
- Others
Wood Plastic Composite
Market Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- New Zealand
- Latin America
- Brazil
- Middle East & Africa
Access Press Release By
Grand View Research: http://www.grandviewresearch.com/press-release/global-wood-plastic-composite-market
About Grand View
Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com
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