Global Wood Plastic Composite Market by Type (PE, PP, PVC), by Application (Industrial, Building & Construction,Automotive Components, Consumer Goods) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

The market for wood plastic composites in the world was valued at USD 5.3 million in 2019. It is forecast to grow by 11.4% during the forecast period. This market is driven by a rising demand for sustainable building materials and an increase in renovation and repair activities in residential sectors around the world.

As compared to traditional wood products, wood plastic composite is more durable, stronger than conventional wood products, has low moisture content and water absorption. This makes it suitable for use in exterior siding, fencing and flooring as well as interior moldings and landscaping materials. End-users increasingly prefer wood plastic composite products to traditional wood products.

In the United States, single-family rental housing is on the rise. Builders are working to redesign the models in order to increase product demand over coming years. Infill housing was also a major driver in large urban areas. This is reflected in the fact that over 70% of these regions saw an increase in 2018's infill development. Over the forecast period, infill development will increase and create opportunities for wood-plastic composite manufacturers.

Wood plastic composites melt at a lower temperature than traditional wood products. This lowers energy costs for end-users, and reduces the product's environmental impact. The same tools that are used to make wood plastic composite can also be used for their construction. This eliminates the need for manufacturers to make large investments and the risk of not recouping them.

The world's largest tech companies, such as Cisco, Microsoft and IBM, are investing in megaprojects that will create smart, sustainable cities. In the next two decades, these investments are expected to exceed USD 135 trillion. These megaprojects, as well as international megaprojects like Hudson Yards or Masdar City, have provided opportunities for interior construction companies. This has resulted in a surge in wood plastic composite demand over coming years.

Wood flour is hygroscopic and should be properly wetted with the proper use of thermoplastic matrix. Otherwise, it can absorb moisture, which can lead to weak mechanical properties, undesirable odors and microbial attack. This requires skilled laborers and complex machine setups, which can increase the cost of the finished product. This can lead to a decrease in the market for wood-plastic composite products over the next eight year.

Product Insights

The market can be divided into three segments: polyethylene, propylene, or polyvinylchloride. Due to its high use in niche segments like wood units that can be controlled at high temperatures and furniture with water resistance coatings, the polypropylene market is expected to experience a boom over the forecast period.

The market for wood plastic composite is likely to see a rise in demand for polyvinylchloride thermoplastics over the forecast period. This is due to its exceptional insulation properties.

Because of its high demand for furniture manufacturing, polyethylene is one of the fastest-growing product segments. Market growth will be further accelerated by the increasing demand for polyethylene composites within the automotive industry due to their low cost, high stiffness and biodegradability.

Market growth is expected to be accelerated by the rising demand for polystyrene/acrylonitrile-butadiene styrene styrene combinations in a wide variety of applications, including kitchen furniture, shower receptors and bathtubs.

Application Insights

The wood plastic composite market can be divided into four categories: building and construction, automotive parts, industrial and consumer goods and others. The future growth of the wood plastic composite market is expected to be driven by the removal of foreign investment barriers and a shift in consumer focus to green buildings.

Infrastructural development activities have increased in emerging economies like Brazil, China, India, Thailand and Thailand. This has fueled a rise in demand for wood plastic composites in the construction industry.

The molding and siding segment is likely to see a rise in demand for exterior building products with high resistance to moisture. Market growth will be further stimulated by rising demand for composites that prevent mold growth and premature decay in the decking segment.

Over the forecast period, there will be an increase in demand for wood plastic composite to make noise barriers for street construction and sheet pilings for landscaping. Market growth will also be driven by rising demand for wood-plastic composite in the manufacture of consumer goods such as toys and showpieces.

Regional Insights

Due to the increasing use of wood plastic composite for manufacturing docks, porches and window frames, the U.S. market is expected to see a significant increase in wood plastic composite demand over the next eight year. Market growth will also be driven by the growing use of bio-based plastics for landscaping and street construction.

Asia Pacific will be the fastest-growing market in wood plastic composite due to its increased per capita income and rapid industrialization. Over the forecast period, wood plastic composite producers will have opportunities due to shifting consumer behavior in China, increasing local competition, fragmented distribution and rising dual income households.

Due to increasing income levels and shifting consumer preference for green buildings, construction activities in Central and South American countries have increased substantially. The market for wood plastic composite is expected to grow over the next eight year due to the expansion of commercial construction and government initiatives to increase awareness about green building.

The rising concerns about the global economy because of the continued deceleration in the Eurozone and China, US-China trade discussions, political situation between China and Hong Kong, and uncertainty over Brexit are expected to impact the global investments, trade, upcoming and ongoing residential/commercial projects and equity markets across the globe. This will in turn lead to a decrease in market activity over the next few years.

Wood Plastic Composite Market Share insights

Market participants are using a variety of strategies to maintain their competitive edge and sustain industry competition. Saint Gobain's subsidiary, CertainTeed Corporation is a key player in the market with a wide range of wood-plastic composite products. To gain a strong position in the wood plastic composite market, CertainTeed Corporation is involved in mergers and acquisitions as well as capacity expansion strategies.

In an effort to increase market share in a specific region, companies may resort to multiple acquisitions and mergers. Sometimes, companies form technological partnerships to produce a superior product that has better performance characteristics. This can increase company revenues.

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends in each sub-segment from 2016 to 2027. Grand View Research has divided the global wood plastic composite market by product, region, and application.

• Product Outlook (Volume of Kilotons; Revenues, USD Millions, 2016-2027)

  • Polyethylene

  • Polypropylene

  • Polyvinylchloride

  • Other

• Outlook for Application (Volume of Kilotons; Revenue USD Millions, 2016-2027)

  • Construction and Building

    • Decking

    • Molding and siding

    • Fencing

  • Automotive Components

  • Both industrial and consumer goods

  • Other

• Regional Outlook (Volume of Kilotons; Revenue USD Millions, 2016-2027)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • The U.K.

    • France

    • Spain

    • Italy

    • Russia

    • Netherlands

    • Switzerland

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

    • Thailand

    • Indonesia

    • Singapore

    • New Zealand

    • Philippines

  • Central & South America

    • Brazil

    • Argentina

    • Chile

  • Middle East & Africa

    • Saudi Arabia

    • South Africa

    • United Arab Emirates (UAE).

    • Egypt

    • Iran

These are the most frequently asked questions about this report

b. The market for wood plastic composites in the world was valued at USD 5.26 billion in 2019, and is forecast to grow to USD 5.85 billion by 2020.

b. The global wood plastic composite market will grow at a compound annual rate of 11.4% between 2020 and 2027, to reach USD 12.51 million by 2027.

b. North America was the dominant market for wood plastic composites in 2019, with 52.6% of the total market. This can be attributed to the increasing demand for the product in the construction of fences and decks.

b. Among the key players in the wood plastic composite market are Advanced Environmental Recycling Technologies, Inc., Axion Structural Insights LLC, Beologic N.V., CertainTeed Corporation, Fiberon, LLC, Fkur Kunststoff GmbH, Renolit.

b. The market growth is being driven by rising demand for sustainable building materials and an increase in renovation and repair activities in residential sectors around the world.

Up Market Research published a new report titled “Wood Plastic Composite Market research report which is segmented by Type (PE, PP, PVC), by Application (Industrial, Building & Construction,Automotive Components, Consumer Goods), By Players/Companies Axion Structural Innovations LLC, Beologic NV, Fkur Kunststoff GmbH, Fiberon, LLC, Advanced Environmental Recycling Technologies, CertainTeed Corporation, Renolit, Inc (AERT)”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

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.

Global Wood Plastic Composite Market Report Segments:

The market is segmented by Type (PE, PP, PVC), by Application (Industrial, Building & Construction,Automotive Components, Consumer Goods).

Wood Plastic Composite 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.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Wood Plastic Composite Market

Overview of the regional outlook of the Wood Plastic Composite Market:

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.

Highlights of The Wood Plastic Composite Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Wood Plastic Composite Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. PE

                2. PP

                3. PVC

                1. Industrial

                2. Building & Construction,Automotive Components

                3. Consumer Goods

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Wood Plastic Composite 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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Reasons to Purchase the Wood Plastic Composite Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.