Skip to main content

Market Overview

Wood Plastic Composite Market to Worth USD 9.03 Billion by 2027 | Says Fortune Business Insights™

Share:

Pune, India, Sept. 14, 2021 (GLOBE NEWSWIRE) -- The global wood plastic composite market is likely to gain impetus from their increasing application in kitchen accessories, home furniture, vehicle interiors, and car speakers. They are considered to be the highest growing plastic additives at present, this information is given by Fortune Business Insights™ in a recently published report. The report further mentions that the wood plastic composite market size was USD 4.77 billion in 2019 and is projected to reach USD 9.03 billion by 2027, exhibiting a CAGR of 8.57% during the forecast period.


List of Top Manufacturers Profiled in Wood Plastic Composite Market:

  • Seven Trust (China)
  • Meghmani Group (India)
  • Beologic (Belgium)
  • Trex Company, Inc. (U.S.)
  • UFP Industries, Inc. (U.S.)
  • Fiberon LLC (U.S.)
  • Axion International, Inc. (U.S.)
  • Josef Ehrler GmbH & Co KG (Germany)
  • Croda International Plc (UK)
  • CertainTeed (U.S.) 
  • Others


Get a Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/wood-plastic-composite-market-102821


Drivers & Restraints-

Increasing Usage of Sustainable Fibers to Boost Growth

Wood Plastic Composite are green materials that have high potential in bringing about sustainability. They don't contain excessive chemicals that may pose toxic for the environment and are durable in nature. Plant-based fibers are mainly used in reinforced plastics, instead of fibrous materials as they are cost effective, robust, highly stiff, and annually renewable. Such fibers also emit less carbon dioxide, have low density, and possess biodegradability properties.

Numerous automakers worldwide are aiming to develop biodegradable or recyclable parts of vehicles by using sustainable Wood Plastic Composite. They would aid in lowering fuel consumption and production cost, offering shatterproof performance under harsh weather conditions, enhance passenger safety, lower weight of the material, and improve acoustic performance. However, Wood Plastic Composite require higher initial cost spending. It may obstruct growth.


Segmentation:

Decking Segment to Grow Rapidly Owing to High Demand from Construction Sector  

Based on application, the decking segment held 55.55% Wood Plastic Composite market share in 2019. This growth is attributable to their increasing demand from the construction industry. The process of decking requires the usage of such composites as they possess several benefits that help in refining the quality of the material of concrete. They are also used to improve strength and durability.


Browse Detailed Insights of this Research Report with TOC:

https://www.fortunebusinessinsights.com/wood-plastic-composite-market-102821


Regional Analysis:

Rapid Industrialization in China & India to Favor Growth in Asia Pacific

In terms of region, North America procured USD 2.24 billion revenue in 2019 stocked by the rising demand for environmentally-friendly solutions and products in this region. In addition to this, the rising application of Wood Plastic Composite in decking would drive growth. In Asia Pacific, developing countries, such as China and India are experiencing rapid industrialization. Coupled with this, the improvements and modernizations in buildings and road construction activities would accelerate growth in this region. The Middle East and Africa and Latin America are set to exhibit steady growth fueled by the surging number of construction activities in both regions.


Competitive Landscape:

Key Companies Follow Acquisition Strategy to Gain Competitive Edge  

The market is fragmented with the presence of more than 100 organizations accounting for the total revenue across the globe. They are constantly investing huge sums in research and development activities to innovate their in-house Wood Plastic Composite. Some of them are also adopting the strategy of mergers and acquisitions to enhance their product offerings.


Below are a couple of the latest industry developments:

  • August 2018: Alvic Plastics Limited was acquired by BSW Group. This new deal would aid BSW in broadening its product portfolio and production capacity. It would also enable the company to bring in diversification to increase its range of products.
  • November 2015: Vannplastic Limited, a prominent manufacturer of the wood plastic composite was acquired by the Boral Epwin Group for an initial consideration of approximately USD 5.67 million. It would aid Boral in widening its line of low-maintenance building materials.


Quick Buy – Chemicals Wood Plastic Composite Market Research Report:

https://www.fortunebusinessinsights.com/checkout-page/102821


Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Key Developments: Mergers, Acquisition, Partnership, etc.
    • Latest Technological Advancement
    • Insights on Regulatory Scenario
    • Porters Five Forces Analysis
  • Global Wood Plastic Composite Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Material
      • Polyethylene
      • Polypropylene
      • Polyvinyl chloride
      • Others
    • Market Analysis, Insights and Forecast – By Application
      • Decking
      • Automotive
      • Sliding & fencing
      • Technical Application
      • Furniture
      • Consumer Goods
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia pacific
      • Latin America
      • Middle East & Africa

TOC Continued…!


Get your Customized Research Report:

https://www.fortunebusinessinsights.com/enquiry/customization/wood-plastic-composite-market-102821


Have a Look at Related Research Insights:

Rainscreen Cladding Market Size, Share & Industry Analysis, By Material (Composite Material, Metal, Terracotta, Fiber Cement, High-Pressure Laminate, and Others), By End-Use (Commercial, Residential, Institutional, and Industrial), and Regional Forecast, 2020-2027

Wax Market Size, Share & Industry Analysis, By Product Type (Petroleum, Synthetic, Mineral and Animal & Plant), By Application (Candles, Packaging, Coating & Polishes, Hot-melt Adhesives, Cosmetic & Toiletries, Plastic & Rubber and Others) and Regional Forecast, 2019-2027

Aluminum Curtain Wall Market Size, Share & Industry Analysis, By Product Type (Stick-built, Unitized and Others), By Application (Commercial Buildings and Residential Buildings) and Regional Forecast, 2019-2027

Permanent Magnet Market Size, Share & Industry Analysis, By Type (Neodymium Iron Boron (NdFeB), Ferrite, Samarium Cobalt (SmCo), Aluminum Nickel Cobalt (Alnico), and Others), By Application (Consumer Electronics, Automotive, General Industrial, Medical Devices, Energy, and Others), and Regional Forecast, 2019-2026


About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

Fortune Business Insights™

Linkedin | Twitter | Blogs


Primary Logo

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com