BusinessMarket UpdatesNewsTechnology

Wood Plastic Composites Market Share, Industry Growth at a Booming CAGR by 2028

Global Wood Plastic Composites Market to Grow at a CAGR of 11.5% during the forecast period

Wood Plastic Composites Market is projected to reach USD 10.19 billion by 2028 at a CAGR of 11.5% during the forecast period. Wood plastic composites (WPC) are compounds which consist of wood wastes with beneficial features such as reduced melting temperature resulting in lower energy costs for producers and further reducing the product’s environmental impact. These composites are growing at the highest rate among the plastic additives. Innovative uses for wood-based composites are constantly accomplished. These hybrid materials offer longevity, sustainability, and cost savings in a extensive range of applications such as interiors, car speakers, kitchen accessories, and home furniture.

Click here to get sample of the premium report: https://www.quincemarketinsights.com/request-sample-31366?utm_source=hp&utm_medium=mw&utm_campaign=hp

Key Takeaways of the Wood Plastic Composites Market

  1. The growth of this market is propelled by the rise in construction & building segment, especially in the regions of North America and Europe.
  2. The polypropylene segment is anticipated to see a boom, over the forecast period, owing to its heavy use in the niche application segments such as water resistant coatings on furniture and high temperature controllable wooden units.
  3. Eradication of barriers to promote foreign investments coupled with changing consumer focus towards green buildings is projected to boost the demand for wood plastic composite in the construction industry over the coming years.

Notable Development Trends to Open up New Horizons of Growth for Wood Plastic Composites Market

With the on-going trends in the market, government support initiatives for businesses, companies are announcing numerous collaborations that are likely to have a synergistic effect on market. These efforts and initiative have led to partnerships and increasing market competition.

  1. In February 2016, Trex Company Inc. acquired Amerhart Limited. Amerhart Limited is one of the largest building materials distributor, which acquired Lumberyard Supply Co. to strengthen distribution network in Illinois, Wisconsin, Minnesota, Missouri, and Michigan.
  2. In January 2015, Fiberon and BlueLinx added 14 new distribution locations for composite decking and railing products. These new distribution centers are located in Denver, Colorado, Jacksonville and Tampa, Florida, Chicago, Illinois, Detroit and Grand Rapids, Michigan, among other cities. This strategy is helps Fiberon to address the market demand for wood-plastic composites.
  3. In March 2016, CertainTeed expanded the distribution of NorthGate SBS-Modified Asphalt Roofing Shinglein into new areas of South Dakota, North Dakota, Kansas, Iowa, Missouri, Minnesota, Wisconsin, Illinois, Alberta, Manitoba, and Saskatchewan as well as select areas of Michigan, Nebraska, and Ontario.

Major points covered in the report:

  1. An overview of the market, including background and evolution
  2. Macroeconomic factors affecting the market and its potential
  3. Market dynamics, such as drivers, challenges, and trends
  4. Detailed value chain analysis of the market
  5. The cost structure of the products and segments covered in the study
  6. In-depth pricing analysis, by key product segments, regions and by major market participants
  7. Scrutiny of demand and supply, such as top consuming geographies with leading producers, overall trade with imports/exports scenario
  8. Analysis of the market structure, including a tier-wise categorization of key market participants
  9. Competitive landscape of the market, including detailed profiles of the top players in this market

The report consists of expert opinions with extensive market study, which is classified in segments such as application, product type, and region. All the segments of the market are comprehensively analyzed based on their growth scenarios, market share, and CAGR.

Companies operating in the market are Fiberon LLC., Fkur Kunststoff GmbH, Universal Forest Products Inc., TimberTech, CPG International, Advanced Environmental Recycling Technologies, Trex Company Inc., Perth Wood Plastic Composite Co. Ltd., and Renolit.

Market Segmentation:

By Resin Type:

  • Polyethylene
  • Polypropylene
  • Poly Vinyl Chloride (PVC)
  • Others

By Manufacturing Process:

  • Extrusion
  • Compression Molding
  • Injection Molding
  • Others         

By Application:

  • Building & Construction
  • Automotive Components
  • Furniture
  • Consumer Goods
  • Electrical
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Resin Type
    • By Manufacturing Process
    • By Application
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Resin Type
    • By Manufacturing Process
    • By Application
  • Western Europe
    • By Country (Germany, UK, France, Spain, Rest of Western Europe)
    • By Resin Type
    • By Manufacturing Process
    • By Application
  • Middle East
    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
    • By Resin Type
    • By Manufacturing Process
    • By Application
  • Asia Pacific
    • By Country (China, Japan, India, Rest of Asia Pacific)
    • By Resin Type
    • By Manufacturing Process
    • By Application
  • Rest of the World
    • By Region (South America, Africa)
    • By Resin Type
    • By Manufacturing Process
    • By Application

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

ABOUT US:

QMI has the most comprehensive collection of market research products and services available on the web. We deliver reports from virtually all major publications and refresh our list regularly to provide you with immediate online access to the world’s most extensive and up-to-date archive of professional insights into global markets, companies, goods, and patterns.

 

Contact:

Quince Market Insights

Office No- A109

Pune, Maharashtra 411028

Phone: APAC +91 706 672 4848 / US +1 208 405 2835 / UK +44 121 364 6144

Email: [email protected]

Web: www.quincemarketinsights.com

Tags

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close