According to the latest market research report by IMARC Group, titled “Wood-Plastic Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the market. The wood-plastic composites market research report also includes competitor and regional analysis, and contemporary advancements in the market. The global wood-plastic composites market size reached US$ 5.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.3 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.
Wood-Plastic Composites Market Overview:
Wood-plastic composites (WPCs) are materials made from a combination of wood fibers or sawdust and thermoplastic resins, typically polyethylene, polypropylene, or PVC. The resulting material is a durable, low-maintenance product resistant to rot, decay, and insects. WPCs are commonly used in outdoor decking, fencing, and furniture due to their resistance to moisture and environmental damage. The use of wood fibers also provides a natural appearance and texture that can be customized with various colors and finishes. WPCs are considered a more sustainable alternative to traditional wood products because they require less maintenance, produce less energy, and reduce the need to harvest natural wood resources.
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Global Wood-Plastic Composites Market Trends:
The global market is majorly driven by the increasing focus on sustainable and environmentally friendly materials. In line with this, the growing demand for low-maintenance building products is significantly contributing to the market. Furthermore, WPCs’ excellent durability and versatility are positively influencing the market. Apart from this, the escalating construction and infrastructure development activities worldwide are accelerating product demand. Moreover, the increasing demand for durable building materials and the ability of WPCs to resist moisture, rot, and decay are strengthening the market.
Besides, the technological advancements in WPCs production and processing and rising awareness of the benefits of WPCs over traditional wood products are offering numerous opportunities for the market. Additionally, the growing demand for customized WPCs products with various colors and finishes and favorable regulatory support for the use of WPCs in building and construction applications are providing a boost to the market.
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Key Market Segmentation:
Top Wood-Plastic Composites Manufacturers Worldwide:
- Trex Company, Inc.
- Axion Structural Innovations LLC
- Beologic N.V.
- Oldcastle Architectural Inc.
- CertainTeed Corporation
- Fiberon, LLC
- Fkur Kunststoff GmbH
- Guangzhou Kindwood Co. Ltd.
- Jelu-Werk Josef Ehrler GmbH Co. KG
- Woodmass
- PolyPlank AB
- Renolit
- TAMKO Building Products, Inc.
- TimberTech
- Universal Forest Product
Breakup by Type:
- Polyethylene
- Polyvinylchloride
- Polypropylene
- Others
Breakup by Application:
- Building and Construction
- Automotive
- Industrial and Consumer Goods
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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