Market Research Report
Global Wood Plastic Composites Market Forecast 2019-2027
|Published by||Inkwood Research||Product code||408522|
|Published||Content info||184 Pages
Delivery time: 2-3 business days
|Global Wood Plastic Composites Market Forecast 2019-2027|
|Published: April 8, 2019||Content info: 184 Pages||
The global wood-plastic composites market was calculated to be worth $XX million in 2018. Driven by the rising demand for recyclable materials from the automotive sector and growing number of applications in the construction sector, the global wood plastic composites market is anticipated to get $10,678 million by 2027, exhibiting a CAGR of 11.51% during the forecast periods of 2019-2027. In terms of volume, it is expected to grow with a CAGR of 10.02%.
The global wood plastic composite market is being driven primarily by the growing demand from building and construction applications and increasing demand for recyclable materials in the automotive industry. The lack of rigidity and the impact of heavy load coupled with the nonexistent well-defined quality standards are the major factors hindering the global wood plastic composites market advancement. The competition in the market is very high as the market is highly consolidated with the presence of a large number of manufacturers and suppliers. The market has high entry barriers.
Regional segmentation of the wood plastic composite market is carried over the North America, Europe, Asia-Pacific and the Rest of World. Asia-Pacific is expected to showcase the fastest growth over the forecast period for this market. The market is propelled by booming construction industry and rising number of outdoor applications. However, the North American market is expected to continue its dominance in the global market on account of the high demand for wood-plastic composites from the marine industry in countries such as the U.S and Canada.
Major companies like Polyplank AB, Josef Ehrler GmbH & Co. KG, CertainTeed, Fiberon, LLC, Axion International, Inc., Universal Forest Products, Inc., Advanced Environmental Recycling Technologies, Inc. (AERT), TimberTech, Trex Company, Inc., Beologic N.V., FKUR Kunststoff GmbH, Polymera, Inc., Advanced Environmental Recycling Technologies, Inc. (AERT), and Tamko Building Products, Inc. are competing in the global wood-plastic composites market.