Sep 20, 2022   SOURCE: BusinessWire

The Worldwide Wood Plastic Composites Industry is Projected to Reach $12.6 Billion by 2030 - ResearchAndMarkets.com

The "Wood Plastic Composites Market By Application, By Type: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

The global wood plastic composites market was valued at $5.4 billion in 2020, and is projected to reach $12.6 billion by 2030, growing at a CAGR of 8.9% from 2021 to 2030.

Wood plastic composite is a composite material made from sawdust and plastic as a polymer like PE-based composites, recycled plastics, polyvinyl chloride (PVC)-based, and polypropylene (PP), which provides bonding sustainability, longevity, and cost savings in various applications, such as car interiors, home furniture, and kitchen accessories.

Wood-plastic composites offer high durability, bending strength, shear strength, low moisture content, and low water absorption compared to traditional wood products. These properties make them suitable for use in railings, windows, doors, exterior trims, fences, flooring, and interior moldings. Thus, owing to aforementioned factors there is increase in demand for wood plastic composites in the automotive and construction industries.

There is increase in need for wood plastics in construction industry, which is a key market driver for the growth. Wood plastics are used in the majority of consortium markets, owing to their unique characteristics. There is increase in use of cosmopolites made of wood polymers. This increase in adoption drives the market growth market. Wood plastics overpower all other composites in terms of aesthetics and physical properties. The fusion of wood and plastic composites offers more benefits for construction projects all across the globe.

However, lack of awareness among people regarding use of wood plastic composites hinders the market growth. Furthermore, eco-friendly green composites are cost-efficient as well as safe for the environment. The use of plant fibers and plant-based materials are used in their composites that make them efficient. The emergence of green composites is expected to provide lucrative growth opportunities for the wood plastic composites market.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wood plastic composites market analysis from 2020 to 2030 to identify the prevailing wood plastic composites market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the wood plastic composites market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global wood plastic composites market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Application

  • Building and Construction
  • Automotive Components
  • Industrial and Consumer Products
  • Others

By Type

  • Polyvinylchloride
  • Polypropylene
  • Others
  • Polyethylene

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • South Africa,
  • Saudi Arabia
  • Rest of LAMEA

Key Market Players

  • TIMBERTECH LTD.
  • TREX COMPANY, INC.
  • BEOLOGIC N.V.
  • FKUR KUNSTSTOFF GMBH
  • AIMPLAS
  • Dow
  • Fortune Brands Inc.
  • JELU-WERK J. Ehrler GmbH & Co. KG
  • Renolit SE
  • Universal Forest Products, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/qqro5f