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GLOBAL WOOD PLASTIC COMPOSITES MARKET FORECAST 2020-2028

The global wood-plastic composites market is estimated to reach $13470.41 million by 2028, growing at a CAGR of 11.87% in terms of revenue during the forecast period. In terms of volume, the global wood plastic composites market is expected to reach 16503.63 kilotons by 2028, growing at a CAGR of 10.43% during the forecast period. The base year considered for the study is 2019, and the estimated period is between 2020 & 2028. The rising demand from the building and construction applications is one of the important factors driving growth in the wood-plastic composites market. Building and construction applications hold the largest share in the wood-plastic composites market as traditional wood is one of the most widely used components in this sector

GLOBAL WOOD PLASTIC COMPOSITES MARKET FORECAST 2020-2028

Global Wood Plastic Composites Market by Type (Polyethylene (Pe), Polyvinylchloride (Pvc), Polypropylene (Pp), Other Types) by Application (Building & Construction Products, Automotive Components, Industrial & Consumer Goods, Other Applications) by Geography.

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The global wood-plastic composites market is estimated to reach $13470.41 million by 2028, growing at a CAGR of 11.87% in terms of revenue during the forecast period. In terms of volume, the global wood plastic composites market is expected to reach 16503.63 kilotons by 2028, growing at a CAGR of 10.43% during the forecast period. The base year considered for the study is 2019, and the estimated period is between 2020 & 2028.

Primary factors propelling the growth of the global wood plastic composites market are:

  • Rising demands from building and construction applications
  • Prohibition on the use of arsenic toxins, chromium and toxins copper
  • Growing demands for recyclable materials in the automotive industry
  • Rising demands for PVC-capped decking products
  • Concerns regarding Environment

Wood Plastic Composites MarketTo know more about this report, request a free sample copy.

The rising demand from the building and construction applications is one of the important factors driving growth in the wood-plastic composites market. Building and construction applications hold the largest share in the wood-plastic composites market as traditional wood is one of the most widely used components in this sector. Wood plastic composites consist of thermoplastic, wood fiber, and other materials, namely lubricants, pigments, foaming agents, and blowing agents, which are used in fewer quantities. Wood-plastic composites are known for their high durability and long shelf life than raw wood. They are also considered to be eco-friendly because they are mostly prepared using sawmill by-products and recycled plastic.

However, the lack of rigidity and impact of heavy load, lack of well-defined quality standards, product limitations in certain applications, weight reduction of WPC products, and low preference for recycled products, are profoundly restricting the wood plastic composites market growth globally.

In 2019, around 55.46% of the revenue share was captured by the Polyethylene (PE) wood plastic composites. PE wood plastic composites are useful in making exterior products for rough applications and high performance. Polyethylene wood plastic composites are utilized in manufacturing molding strips, lumber, wall cladding, furniture materials, flooring, hollow boards, hollow filler sections, and profiles.

The report on the global wood plastic composites market includes segmentation on the basis of type and application.

Market by type:

  • Polypropylene (PP)
  • Polyvinylchloride (PVC)
  • Polyethylene (PE)
  • Other Types

Market by application:

  • Industrial & Consumer Goods
  • Automotive Components
  • Building & Construction Products
  • Other Applications

Geographically, the global wood plastic composites market has been segmented on the basis of four major regions, which includes:

  • North America: the United States and Canada
  • Europe: the United Kingdom, Germany, France, Italy, Russia, Poland, Belgium, and the Rest of Europe
  • Asia Pacific: China, India, Japan, South Korea Australia & New Zealand, ASEAN, and the Rest of Asia Pacific
  • Rest of World: Latin America, the Middle East & Africa

In terms of geography, North America dominated the wood plastic composites market with a revenue share of 46.46% in 2019. The key countries in the region include the U.S. and Canada. Large and widening population base with increasing consumption, rapid urbanization, and shift of customer preference towards wood plastic composites products are the factors driving the growth of the North American wood plastic composites market.

Though the adoption of wood plastic composites in the Asia Pacific as compared to North America is low at present, the outlook for the market in the region is positive. The Asia Pacific regional market majorly covers the market development of China, Japan, India, and the countries from the Rest of Asia Pacific. China held the largest share in terms of revenue of about 61.87% of the Asia Pacific wood plastic composites market in 2019. A large and dominant manufacturing sector in China has resulted in wood plastic composite materials being used to increase the durability and shelf life of the products. Also, the rising demand from countries, namely India and Japan, due to its increasing application in outdoor applications and demand from the building & construction industry, is driving the overall Asia Pacific wood plastic composites market.

The prominent players making an impact in the global wood plastic composites market are:

  • TimberTech
  • Universal Forest Products, Inc.
  • Trex Company, Inc.
  • CertainTeed
  • Fiberon, Llc.

Important strategies adopted by some of these companies are:

In April, 2019, CertainTeed Corporation acquired Norton Industries’ wood ceilings business. Norton is known to provide a wide portfolio of wall designs and wood ceiling, which are an important part of many prominent projects, particularly in North America.

Key findings of the global wood plastic composites market are:

  • There is a rising demand for wood plastic composites in emerging economies of Asia Pacific, Latin America, and Africa.
  • The injection molding is the new method used for the production of a wood plastic composite in the global market.
  • There is an increase in the use of recyclable raw materials, which is boosting the wood plastic composites market.
  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • PARENT MARKET ANALYSIS: WOOD PRODUCTS MANUFACTURING MARKET
    • MARKET DEFINITION
    • KEY DRIVERS
      • GROWING DEMAND FROM BUILDING AND CONSTRUCTION APPLICATIONS
      • BAN ON THE USE OF ARSENIC TOXINS, CHROMIUM AND TOXINS COPPER
      • INCREASING DEMAND FOR RECYCLABLE MATERIALS IN AUTOMOTIVE INDUSTRY
      • INCREASING DEMAND FOR PVC-CAPPED DECKING PRODUCTS
      • ENVIRONMENTAL CONCERN
    • KEY RESTRAINTS
      • LACK OF RIGIDITY AND IMPACT OF HEAVY LOAD
      • PRODUCT LIMITATIONS IN CERTAIN APPLICATIONS
      • LACK OF WELL-DEFINED QUALITY STANDARDS
      • REDUCING THE WEIGHT OF WPC PRODUCTS
      • LOW PREFERENCE FOR RECYCLATES IN PRODUCTS
  1. KEY ANALYTICS
    • KEY INVESTMENT INSIGHTS
    • PORTER’S FIVE FORCE ANALYSIS
      • BUYER POWER
      • SUPPLIER POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • SUPPLY CHAIN ANALYSIS
  2. MARKET BY TYPE
    • POLYETHYLENE (PE)
    • POLYVINYLCHLORIDE (PVC)
    • POLYPROPYLENE (PP)
    • OTHER TYPES
  3. MARKET BY APPLICATION
    • BUILDING & CONSTRUCTION PRODUCTS
    • AUTOMOTIVE COMPONENTS
    • INDUSTRIAL & CONSUMER GOODS
    • OTHER APPLICATIONS
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • RUSSIA
      • BELGIUM
      • POLAND
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • ASEAN
      • AUSTRALIA & NEW ZEALAND
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • MOSITURESHIELD (FORMERLY ADVANCED ENVIRONMENTAL RECYCLING TECHNOLOGIES, INC. (AERT)) (ACQUIRED BY OLDCASTLE ARCHITECTURAL)
    • AXION INTERNATIONAL, INC.
    • BEOLOGIC N.V.
    • CERTAINTEED CORPORATION
    • FIBERON, LLC (ACQUIRED BY FORTUNE BRANDS HOME & SECURITY INC.)
    • FKUR KUNSTSTOFF GMBH
    • JELU-WERK JOSEF EHRLER GMBH & CO. KG
    • POLYPLANK AB
    • TAMKO BUILDING PRODUCTS, INC.
    • TIMBERTECH LIMITED
    • TREX COMPANY, INC.
    • UNIVERSAL FOREST PRODUCTS, INC.

LIST OF TABLE

TABLE 1: MARKET SNAPSHOT – WOOD PLASTIC COMPOSITES

TABLE 2: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BY TYPE, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 3: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BY TYPE, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 4: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BY TYPE, HISTORICAL YEARS, 2016-2019 (IN KILOTONS)

TABLE 5: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BY TYPE, FORECAST YEARS, 2020-2028 (IN KILOTONS)

TABLE 6: GLOBAL POLYETHYLENE (PE) MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 7: GLOBAL POLYETHYLENE (PE) MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 8: GLOBAL POLYVINYLCHLORIDE (PVC) MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 9: GLOBAL POLYVINYLCHLORIDE (PVC) MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 10: GLOBAL POLYPROPYLENE (PP) MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 11: GLOBAL POLYPROPYLENE (PP) MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 12: GLOBAL OTHER TYPES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 13: GLOBAL OTHER TYPES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 14: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 15: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BY APPLICATION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 16: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2019 (IN KILOTONS)

TABLE 17: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BY APPLICATION, FORECAST YEARS, 2020-2028 (IN KILOTONS)

TABLE 18: GLOBAL BUILDING & CONSTRUCTION PRODUCTS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 19: GLOBAL BUILDING & CONSTRUCTION PRODUCTS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 20: GLOBAL AUTOMOTIVE COMPONENTS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 21: GLOBAL AUTOMOTIVE COMPONENTS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 22: GLOBAL INDUSTRIAL & CONSUMER GOODS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 23: GLOBAL INDUSTRIAL & CONSUMER GOODS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 24: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 25: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 26: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 27: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BY GEOGRAPHY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 28: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN KILOTONS)

TABLE 29: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BY GEOGRAPHY, FORECAST YEARS, 2020-2028 (KILOTONS)

TABLE 30: NORTH AMERICA WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 31: NORTH AMERICA WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 32: NORTH AMERICA WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN KILOTONS)

TABLE 33: NORTH AMERICA WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN KILOTONS)

TABLE 34: EUROPE WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 35: EUROPE WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 36: EUROPE WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN KILOTONS)

TABLE 37: EUROPE WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN KILOTONS)

TABLE 38: ASIA PACIFIC WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 39: ASIA PACIFIC WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 40: ASIA PACIFIC WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN KILOTONS)

TABLE 41: ASIA PACIFIC WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN KILOTONS)

TABLE 42: REST OF WORLD WOOD PLASTIC COMPOSITES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 43: REST OF WORLD WOOD PLASTIC COMPOSITES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 44: REST OF WORLD WOOD PLASTIC COMPOSITES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN KILOTONS)

TABLE 45: REST OF WORLD WOOD PLASTIC COMPOSITES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN KILOTONS)

 

LIST OF FIGURES

FIGURE 1: KEY INVESTMENT INSIGHTS

FIGURE 2: PORTER’S FIVE FORCE ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: GLOBAL WOOD PLASTIC COMPOSITES MARKET, GROWTH POTENTIAL, BY TYPE, IN 2019

FIGURE 6: GLOBAL WOOD PLASTIC COMPOSITES MARKET, POLYETHYLENE (PE), 2020-2028 (IN $ MILLION)

FIGURE 7: GLOBAL WOOD PLASTIC COMPOSITES MARKET, POLYVINYLCHLORIDE (PVC), 2020-2028 (IN $ MILLION)

FIGURE 8: GLOBAL WOOD PLASTIC COMPOSITES MARKET, POLYPROPYLENE (PP), 2020-2028 (IN $ MILLION)

FIGURE 9: GLOBAL WOOD PLASTIC COMPOSITES MARKET, OTHER TYPES, 2020-2028 (IN $ MILLION)

FIGURE 10: GLOBAL WOOD PLASTIC COMPOSITES MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2019

FIGURE 11: GLOBAL WOOD PLASTIC COMPOSITES MARKET, BUILDING & CONSTRUCTION PRODUCTS, 2020-2028 (IN $ MILLION)

FIGURE 12: GLOBAL WOOD PLASTIC COMPOSITES MARKET, AUTOMOTIVE COMPONENTS, 2020-2028 (IN $ MILLION)

FIGURE 13: GLOBAL WOOD PLASTIC COMPOSITES MARKET, INDUSTRIAL & CONSUMER GOODS, 2020-2028 (IN $ MILLION)

FIGURE 14: GLOBAL WOOD PLASTIC COMPOSITES MARKET, OTHER APPLICATIONS, 2020-2028 (IN $ MILLION)

FIGURE 15: NORTH AMERICA WOOD PLASTIC COMPOSITES MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 16: UNITED STATES WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 17: CANADA WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 18: EUROPE WOOD PLASTIC COMPOSITES MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 19: UNITED KINGDOM WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 20: GERMANY WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 21: FRANCE WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 22: ITALY WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 23: RUSSIA WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 24: BELGIUM WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 25: POLAND WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 26: REST OF EUROPE WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 27: ASIA PACIFIC WOOD PLASTIC COMPOSITES MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 28: CHINA WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 29: JAPAN WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 30: INDIA WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 31: SOUTH KOREA WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 32: ASEAN WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 33: AUSTRALIA & NEW ZEALAND WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 34: REST OF ASIA PACIFIC WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 35: REST OF WORLD WOOD PLASTIC COMPOSITES MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 36: LATIN AMERICA WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

FIGURE 37: MIDDLE EAST & AFRICA WOOD PLASTIC COMPOSITES MARKET, 2020-2028 (IN $ MILLION)

  1. MARKET BY TYPE
    • POLYETHYLENE (PE)
    • POLYVINYLCHLORIDE (PVC)
    • POLYPROPYLENE (PP)
    • OTHER TYPES
  2. MARKET BY APPLICATION
    • BUILDING & CONSTRUCTION PRODUCTS
    • AUTOMOTIVE COMPONENTS
    • INDUSTRIAL & CONSUMER GOODS
    • OTHER APPLICATIONS
  3. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • RUSSIA
      • BELGIUM
      • POLAND
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • ASEAN
      • AUSTRALIA & NEW ZEALAND
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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