PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1130983
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1130983
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Global Wood Plastic Composites Market to Reach $9.6 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Wood Plastic Composites estimated at US$4.7 Billion in the year 2020, is projected to reach a revised size of US$9.6 Billion by 2027, growing at a CAGR of 10.6% over the analysis period 2020-2027. Polyethylene, one of the segments analyzed in the report, is projected to record a 11.4% CAGR and reach US$6.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Polypropylene segment is readjusted to a revised 10.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 15.1% CAGR
The Wood Plastic Composites market in the U.S. is estimated at US$1.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2027 trailing a CAGR of 15.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.8% and 9.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.5 Billion by the year 2027.
Polyvinylchloride Segment to Record 9.3% CAGR
In the global Polyvinylchloride segment, USA, Canada, Japan, China and Europe will drive the 9.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$490.7 Million in the year 2020 will reach a projected size of US$873.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 11.3% CAGR through the analysis period.
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