The global wood and plastic composites market is expected to grow from USD 5.1 Billion in 2018 to USD 7.8 Billion by 2028, at a CAGR of 5.2% during the forecast period (2018-2028). The major factors contributing to this growth are the increase in demand for sustainable building materials, the increasing use of plastics in automobiles, and the increased focus on recycling technologies.
Wood and plastic composites are a composite material that is a mixture of wood fibers with plastics. These materials have been used in various applications, such as building products (e.g., windows), furniture components (e.g., chairs) and flooring substrates; automotive components such as dashboards, door trim panels, audio speakers, and instrument panels; and consumer goods such as pens, furniture handles, and luggage. These materials can also be used as insulation, lightweight structural panels, high-performance building components for walls and roofs, furniture frames, or in the production of packaging materials such as cardboard.
On the basis of type, the global wood, and plastic composites market is segmented into polyethylene, polyvinylchloride (PVC), polypropylene, others.
Polyethylene wood and plastic composites, also known as poly-wood or PE+WPC, are a type of WPC that incorporates both the properties of plastics (high strength) and wood (natural look). Polyethylene composite boards are composed mainly of HDPE particles in different percentages which vary according to the product’s density. These boards are made from HDPE particles combined with natural wood flakes and strands, which are then compressed into a planar board to form the final product.
Polyethylene composites can be used in building applications such as weather-resistant panels for outdoor walls or roofing materials; they are also applicable in automotive components that require a lightweight material that can provide good stiffness.
Polyvinylchloride (PVC) wood and plastic composites are a type of WPC made by combining PVC particles with natural or synthetic fibers, such as polyester, rayon, acrylic fiber, etc., for insulation purposes. It is similar to other types of wood-plastic composite in terms of appearance, but it is more expensive because the PVC particles are mixed with other materials.
Polypropylene composites are manufactured using natural or synthetic fibers to create a three-dimensional product that can be used for industrial and consumer goods such as packaging films/bags, furniture panels, interior moldings, building coverings, etc.; these products offer good mechanical properties such as stiffness and toughness.
On the basis of application, the global wood, and plastic composites market is segmented into building and construction products, automotive components, industrial & consumer goods.
Building and construction products: Wood and plastic composites are widely used in the building & construction industry as an alternative to wood. The increasing demand for lightweight, strong and durable materials is also driving the growth of the wood & plastic composites market. These products offer good mechanical properties such as stiffness and toughness that allow them to perform well in a variety of applications, ranging from building beams to exterior trims.
Wood and plastic composites are used in automotive components such as bumper beams, header panels, door pillars. The application in automotive components includes door panels, dashboards, and trim pieces. Wood has the advantage of being lightweight which is why it is often chosen for this type of use; however, plastics can also be lightweight with polypropylene typically preferred because it does not become brittle over time as other plastics do. Automotive manufacturers may choose to incorporate wood or composite materials into their designs for any number of reasons including cost savings since they're a cheaper option than metal; aesthetics: some people prefer the look of wood grain rather than the smooth appearance that comes from manufactured woods or composites; and ease of manufacturing: wood or composite materials can be cut into shapes to create more complex features which would be difficult for metal. The use of plastics in the automotive industry is increasing as it provides designers with a lightweight material that's easy to work with, and less expensive than other options like steel.
Industrial & consumer goods: In addition, these plastics composite materials can be processed into various shapes such as sheets or films which can be used for packaging, food products like meat and fish. These films offer good barrier properties against moisture and gases because of the low water vapor transmission rate (WVTR) and low gas permeability.
On the basis of region, the global wood, and plastic composites market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. The North American regional market accounted for the largest share of the wood and plastic composites market in 2017.
North America: The U.S., Canada, and Mexico accounted for a major share of the North American wood plastics composites market in 2017. The US-led the region with an estimated global revenue of USD XX million owing to its large domestic production capacity for construction products and building components that required composite materials such as plywood and oriented strand board (OSB).
Latin America: Latin America is home to several developing economies which are experiencing rapid economic growth. This leads to increased demand from consumers through new housing developments powered by commercial activity across various industries including industrial goods, food & beverages, apparel among others. The region recorded strong performance during 2017.
Europe: Europe has witnessed significant progress towards increasing sustainable practices over time due to changing lifestyles and consumption patterns. This has led to investments in renewable energy, as well as the adoption of more environmentally friendly practices among households.
Asia Pacific: Asia-Pacific is one of the fastest-growing regions in terms of economic performance with China leading its growth at a pace significantly higher than that seen globally. The region also represents an economically attractive trade partner for developed countries owing to its fast-paced industrialization trend powered by increasing consumerism across various sectors such as food & beverages, construction materials, etc., which are all potential end-users for composite wood products.
Middle East: Middle Eastern economies enjoy high standards of living due to investment in infrastructure projects coupled with strong oil reserves and foreign direct investments from US multinationals over time. The region is expected to grow at a pace that will surpass global growth rates, albeit much slower than before.
Africa: Africa consists of 54 countries, with the majority of them being oil producers. The region is also home to nine out of ten fastest-growing economies in terms of GDP growth rate owing to increasing investment and trade opportunities.
There are several factors driving the growth of this market. The growing population, increasing urbanization, and rising disposable income of people is leading to an increased demand for construction materials. This in turn has led to a hike in demand for composite wood products which have become popular due to their versatility and ability to be used in both residential as well as commercial buildings. In addition, environmental concerns with respect to raw material supplies are also stimulating the use of composites made from renewable sources such as plastic polymers from recycled content or biodegradable plastics that can degrade naturally without harming the environment when discarded after usage. These factors are expected to drive the global composite wood and plastic composites market during 2018-2028 (in terms of value).
Up Market Research published a new report titled “Wood and Plastic Composites Market research report which is segmented by Types (Polyethylene, Polyvinylchloride, Polypropylene, Other), By Applications (Building and Construction Products, Automotive Components, Industrial & Consumer Goods), By Players/Companies Trex Company, Advanced Environmental Recycling Technologies, Fiberon, Timbertech, Tamko Building Products, Axion International, Beologic, Certainteed, Fkur Kunststoff, Josef Ehrler, Polymera, Polyplank, Universal Forest Products, Sentai Wpc, New Tech Wood, Anhui Guofeng, Jufeng, GEM”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Wood and Plastic Composites Market Research Report|
|By Type||Polyethylene, Polyvinylchloride, Polypropylene, Other|
|By Application||Building and Construction Products, Automotive Components, Industrial & Consumer Goods|
|By Companies||Trex Company, Advanced Environmental Recycling Technologies, Fiberon, Timbertech, Tamko Building Products, Axion International, Beologic, Certainteed, Fkur Kunststoff, Josef Ehrler, Polymera, Polyplank, Universal Forest Products, Sentai Wpc, New Tech Wood, Anhui Guofeng, Jufeng, GEM|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||201|
|Number of Tables & Figures||141|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Polyethylene, Polyvinylchloride, Polypropylene, Other and By Application Building and Construction Products, Automotive Components, Industrial & Consumer Goods.
Some of the companies that are profiled in this report are:
Wood and Plastic Composites Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Wood and Plastic Composites Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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