LONDON, Feb. 11, 2022 /PRNewswire/ -- According to Brandessence Market Research, Wood Plastic Composite Market size reached USD 5920.3 Million in 2021. The Wood Plastic Composite Market is growing at robust CAGR of 12.4%, and is expected to reach size of USD 13418.6 Million by end of Forecast 2028.
Increasing Requirement For Durable And Lightweight Goods In The Construction And Automotive Sectors Is Predicted To Power Market Growth, Wood Plastic Composite Market Size, Share & Trends Analysis Report By Application Type (Building And Construction Products, Automotive Components, Industrial & Consumer Goods), By Type (Polyethylene, Polyvinylchloride, Polypropylene), Based On Region, And Segment Forecasts, 2022 - 2028
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Scope of The Wood Plastic Composite Market Report:
WPC (wood-plastic composites) are compounds having wood wastes and recycled plastic with helpful features such as lowered melting temperature leading to lower energy prices for producers and further lowering the environmental impact of the product. These composites are increasing at the highest speed amongst the plastic additives. Innovative employments for wood-based composites are accomplished constantly. These hybrid materials offer longevity, sustainability, and cost savings in a wide series of applications such as interiors, car speakers, kitchen accessories, and home furniture.
The automotive components section added up a major share of the global market in terms of revenue. The automotive components section is the most lucrative section for investment owing to the high requirement for dimensionally stable, recyclable, and lightweight materials for interior automotive elements during the later years. Hence, this section is predicted to show a high development rate together with a significant return on investment for the stakeholders, due to its notable income contribution.
Wood Plastic Composite Companies Focusing In this Report:
- CPG International LLC.
- Crane Plastics
- Guangzhou Kindwood Co. Ltd.
- Findock International Inc.
- North Wood Plastics Inc.
- Josef Ehrler GmbH & Co. Kg
- Polyplank AB
- Universal Forest Products, Inc.
- Plygem Holdings Inc.
- OnSpec Composites Inc.
Global Wood Plastic Composite Market Segmentation:
By Application Type:
- Building and Construction Products
- Automotive Components
- Industrial & Consumer Goods
- Others
By Type:
- Polyethylene
- Polyvinylchloride
- Polypropylene
- Other
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Regional Analysis:
North America Is The Biggest Market For Wood Plastic Composites, Adding Up For A Major Share Of The Total Revenue
North America is the biggest market for wood-plastic composites, adding up for a major share of the total revenue. This can be credited to high product penetration in the construction and building sector. Increasing user requirements for bio-compatible products in applications such as automotive interior parts and consumer goods is predicted to have a positive effect on the market.
Europe has reached a level of maturity as far as the WPC sector is concerned and is thus predicted to clock a slow revenue-based development speed over the coming period. On the other hand, the development of the automotive sector in the region is predicted to power demand over the coming years. The auto sector employs WPC to manufacture exterior and interior trims in vehicles.
On Special Requirement Wood Plastic Composite Market Report is also available for below region:
North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Sweden
- Netherland
- Turkey
- Switzerland
- Belgium
- Rest of Europe
Asia-Pacific
- South Korea
- Japan
- China
- India
- Australia
- Philippines
- Singapore
- Malaysia
- Thailand
- Indonesia
- Rest Of APAC
Latin America
- Mexico
- Colombia
- Brazil
- Argentina
- Peru
- Rest of South America
Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest Of MEA
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