Global Wood Plastic Composite (WPC) Market By Product Type (Pe-Based Composites, Pvc-Based Composites, Pp-Based Composites & Other Types), By Application (Building And Construction, Outdoor Decking & Fencing, Other Applications), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2031

Market.us announces the publication of its most recently generated research report titled, “Global Wood Plastic Composite (WPC) Market by Product Type (PE-based Composites, PVC-based Composites, PP-based Composites & Other Types), By Application (Building and Construction, Outdoor Decking & Fencing, Automotive Components, Industrial, Consumer Products & Other Applications), and by Region – Global Forecast to 2029.”, which offers a holistic view of the global wood-plastic composite (WPC) market through systematic segmentation that covers every aspect of the target market.

The global wood-plastic composite (WPC) market is projected to be US$ 4,033.5 Mn in 2019 to reach US$ 9,953.8 Mn by 2029 at a CAGR of 9.5%.

WPCs commonly known as Wood-plastic composites are composites manufactured from wood flour filler and thermoplastic resins, though thermoset resins and naturally derived resin systems may also be used. WPCs have been developed over the last 40 years, and their application areas have expanded to both structural and non-structural applications. Wood-Plastic Composites production is now considered as one of the fast-growing and most dynamic sectors of the wood industry. The trend in the production of WPC is positive and rising. In the automobile sector, Wood-Plastic Composites are predominantly used. It is used in automobiles for shelves for spare tires, trims in trunks, interior door trims, etc. Moreover, they are often used to replace fiberglass or metal components in automotive components. There are three different types of manufacturing processes: the extrusion process, the Composite molding process, and the injection molding process. The extrusion process is anticipated to be the dominant process type in the wood plastic composite market in the coming years. Building & Construction industry is substantially dependent on the extrusion process for their critical applications, such as siding, fencing, and decking. The injection molding process is likely to exhibit the fastest growth for the same period driven by the automotive and consumer goods segments. Wood-plastic composite is increasingly used to produce furniture, consumer goods, and household electronics using the injection molding process. Wood-plastic composite granulates for injection molding are now provided by global players and are becoming more attractive for clients that manufacture consumer goods, automotive, and other parts.

Request Covid - 19 Impact

The use of wood-plastic composites (WPC) in automobiles is growing, due to the increasing awareness among customers about the various applications and benefits which in turn is anticipated to bolster the demand for wood-plastic composite products. This is expected to drive the target market.

Global Wood Plastic Composite (WPC) Market Revenue (US$ Mn), 2019–2029

However, assessing future demand is a major challenge for the wood-plastic composites market, due to the economic slowdown in various parts of the world in the past decade. Many economies in North America and the European region have still not recovered completely, which has affected the demand for wood-plastic composites from major end-use industries in both areas., which is cumulatively dampening the market growth. Nonetheless, easy processing of wood plastics composites and High usage of recyclable raw materials in turn will increase the use of wood plastic composite (WPC) in multiple industries which in turn is expected to enhance the market in coming years.

The Global Wood Plastic Composite (WPC) market is segmented on the basis of product type, application, and region. On the basis of product type, the market is segmented into PE-based Composites, PVC-based Composites, PP-based Composites & Other Types. The PE-based Composites segment accounts for the majority share and is expected to register the highest growth over the forecast period, followed by the PP-based Composites segment. On the basis of application, the market is segmented into Building and Construction, Outdoor Decking & Fencing, Automotive Components, Industrial, Consumer Products & Other Applications. The Outdoor Decking & Fencing segment accounts for a majority share in the global Wood Plastic Composite (WPC) market.

Global Wood Plastic Composite (WPC) Market by Product Type, 2019

On the basis of region, the market is segmented into North America, Europe, APAC, South America, and Middle East Africa. North America accounts for the majority share in the global Wood Plastic Composite (WPC) market, owing to increasing usage in the automobile sector. APAC is expected to register the highest growth rate over the forecast period. Regions such as Europe, South America, and MEA are expected to register stable growth over the forecast period.

The research report on the global Wood Plastic Composite (WPC) market includes profiles of some of the major companies such as Trex Company, Inc. (TCI), AZEK Building Products, Andersen Corp (Andersen), Ply Gem Industries, Inc., Silvadec, Komdeck, and Vann Plastic, TherraWood UK Ltd., Tecnodeck, Biologic NV, RENOLIT, NFP Europe Limited, TECNARO GmbH.

Key Market Segments:

Type

• PE-based Composites
• PVC-based Composites
• PP-based Composites & Other Types

Application

• Building and Construction
• Outdoor Decking & Fencing
• Automotive Components
• Industrial
• Consumer Products & Other Applications

Key Market Players included in the report:

• Trex Company Inc. (TCI)
• AZEK Building Products
• Andersen Corp (Andersen)
• Ply Gem Industries Inc.
• Silvadec
• Komdeck and Vann Plastic
• TherraWood UK Ltd.
• Tecnodeck
• Beologic NV
• RENOLIT
• NFP Europe Limited
• TECNARO GmbH

For the Wood Plastic Composite (WPC) Market research study, the following years have been considered to estimate the market size: