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.
Germany wood plastic composite market revenue, by application, 2013 - 2024 (USD Million) |
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:
www.grandviewresearch.com/industry-analysis/wood-plastic-composites-market
Further key
findings from the study 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: 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: 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.
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