Wood Plastic Composites Market Growth, COVID Impact, Trends Analysis Report Forecast to 2032
The wood plastic composites market is forecasted to flourish at a CAGR of 11.3% and reach a valuation of USD 16.06 Bn by 2032, while it holds a revenue of USD 6.38 Bn in 2022.
Growing construction and repairing activities in the areas with dilapidated buildings are fueling the sales of wood-plastic composites, though the covid-19 has damaged the supply chain and distribution channel, limiting the growth of wood plastic composites market.
Wood plastic composite with its lower melting temperature, unlike the other conventional wood products is expected to grow at a decent rate over the forecast period. Its lower cost and energy-efficient structure attracts a lot of end-users, fueling the sales of wood plastic composites.
Expanding wood-plastic composites market size can be attributed to its nature-friendly feature because of which it is used in planned cities to keep the environment healthy and the habitat more natural. This not only increases the sales of wood plastic composites but creates positive future prospects for the market.
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Global Wood Plastic Composites Market Key Players
Advanced Environmental Recycling Technologies, Inc. (AERT)
Axion Structural Innovations LLC
Beologic N.V.
CertainTeed Corporation
Fiberon, LLC
Fkur Kunststoff GmbH
Guangzhou Kindwood Co. Ltd.
Jelu-Werk Josef Ehrler GmbH & Co. KG
Woodm****
PolyPlank AB
Renolit
TAMKO Building Products, Inc.
TimberTech
Trex Company, Inc.
Universal Forest Product
Competitive Landscape
The Wood plastic composites market is composed of enterprises that are focusing on expanding their supply chain and the sales channel. The key competitors understand and focus on experimenting with the product while making it nature-friendly and industry-specific for the end users. This makes the competitive landscape more dynamic and versatile, thereby leading to the expansion of wood plastic composites market.
Wood Plastic Composites Market By Segmentation
By Product Type:
Polyethylene
Polypropylene
Polyvinylchloride
By Application Outlook:
Building and Construction
Decking
Molding & siding
Fencing
Automotive Components
Industrial and Consumer Goods
“The usage of the wood plastic composites has increased in the recent times owing its lower cost and energy-efficient manufacturing processes, and increased scope of usage. Additionally, an important aspect ****ociated with wood plastic composites are that these are eco-friendly, which contribute to the cause of sustainable development.” says a Future Market Insights ****yst.
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