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(IT-NEWSWIRE.COM, June 24, 2023 ) Wood Plastic Composite (WPC) is a composite material made from wood fibers and thermoplastics. It is used in various industries such as building and construction, automotive, furniture, packaging, consumer goods, and more. WPC offers benefits like durability, low maintenance, and improved aesthetics. Its applications range from decking and railing to interior components in cars, furniture, packaging materials, and consumer products. The WPC industry continues to expand with new applications being explored in different sectors. The report "Wood Plastic Composite Market by Type (Polyethylene, Polyvinylchloride, Polypropylene, Others), Application (Building & Construction Products, Automotive Components, Industrial & Consumer Goods, Others), Region (North America, Europe, Asia-Pacific, RoW) - Global Trends & Forecast to 2021", The wood-plastic composites market is projected to reach USD 5.84 Billion by 2021, at a CAGR of 12.4% for the forecast period of 2016 to 2021. This growth is driven by the increasing demand from the building & construction application and growing demand for recyclable material in automobile industry.
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Browse in-depth TOC on "Wood Plastic Composite Market”
117 - Market Data Tables
57 - Figures
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Building & construction application segment is expected to dominate the wood plastic composite market by 2021
Building & construction is the largest application of wood-plastic composites and constituted major share of the total wood-plastic composite market, by application in 2015. The growing demand for wood–plastics composites from the building & construction segment is anticipated to drive the demand in coming years due to the superior performance benefits, durability, and low maintenance cost of these composites as compared to that of conventional materials.
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Polyethylene wood plastic composites segment to have the highest share in the market till 2021
Polyethylene is largest wood-plastic composite type, capturing more than half of the total global wood-plastic composite market share in 2015 among type segments. It is anticipated to grow with a healthy CAGR for the forecast period. The superior molecular structure and stability makes polyethylene type wood-plastic composites a robust, high performing material for applications, thus creating a healthy market demand for the same.
North America region to dominate wood plastic composite market during the forecast period
North America accounted for the largest share of the wood plastic composite market in 2015, followed by Asia-Pacific and Europe. North America is one of the major producers of wood-plastic composites in the world. Increasing investment towards infrastructure projects, followed by replacement of old housing infrastructure with advanced materials, drives the wood-plastic composite market in North America.
The major companies that are operating in the global wood plastic composite market are Trex Company, Inc. (U.S.), Advanced Environmental Recycling Technologies, Inc. (U.S.), Universal Forest Products, Inc. (U.S.), Fiberon, LLC (U.S.), TAMKO Building Products, Inc. (U.S.), TimberTech (U.S.), Axion International, Inc. (U.S.), Beologic N.V. (Belgium), CertainTeed (U.S.), Fkur Kunststoff GmbH (Germany.), Josef Ehrler GmbH & Co. KG. (Germany), Polymera, Inc. (U.S.), and Polyplank AB (Sweden).
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Trex Company, Inc. is the one of the leading producers of wood-plastic composites globally. The company is focusing more on new product launches as well as business expansion strategies to strengthen its market position and consolidate its financial position in the global wood-plastic composites market. In February 2016, the company enhanced its brand footprint with the expansion of Amerhart Limited into Eastern Missouri. Amerhart Limited is one of the largest independently owned building materials distributors which acquired Lumberyard Supply Co. to strengthen its distribution network in the Midwest region that includes Wisconsin, Illinois, Minnesota, Michigan, and Missouri. In November 2015, Trex Company, Inc. introduced a product named Trex Pergola. Three new Trex Pergola shade structures were also introduced, namely, Air, Balance, and Vision with varied color finishes.
Fiberon LLC is another major player in the wood-plastic composites market. It provides standard quality decking and railing products mainly for building & construction application. The company has signed multiple agreements with various distributors in the North American region in order to expand its distribution network and increase its regional footprint. In January 2015, Fiberon LLC and BlueLinx added 14 new distribution locations for composite decking and railing products that helps the company to address the market demand for wood-plastic composites. In May 2014, Fiberon LLC partnered with BlueLinx Holdings, Inc. (U.S.) to enhance the distribution of composite decking and railing products in Georgia, U.S.
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