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North America Wood Plastic Composites Market Report Provide Market Strategies Focuses on Industry Situation Along With Future Scenario around the Globe
North America Wood Plastic Composites Market
WPC consists of wood or wood flour, plastic and additives. The source of the material can be virgin or recycled. Demand for materials based on recently renewable raw materials is increasing. In addition, as government interest in climate protection and sustainability has increased, the market for natural materials such as wood plastic composites (WPC) has expanded.
Increased availability of unused plastic and wood waste, increased demand in construction and construction applications, and stringent regulations on the use of chemicals in building materials have greatly increased the growth of the North American wood plastic composites market. However, with the increase in raw materials and problems in relation to mechanical strength and / or weight, it inhibits market growth.
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The prominent players profiled in this report include
• Advanced Environmental Recycling Technologies Inc.
• Axion International Inc.
• Certainteed Corporation.
• Polymera Inc.
• Tamko Building Products Inc.
• TimberTech Ltd.
• Trex Company Inc.
• Green Matters Mexico
• Wellington Polymer Technology Inc.
• Shantex.
The building & construction segment accounted for more than three-fourths share of the North America market in 2016, in terms of volume, and is expected to maintain its dominance during the forecast period, owing to its improved performance and appearance characteristics. However, automotive components are expected to grow with a high rate due to rise in demand for recyclable and lightweight materials.
Based on country, the market is analyzed across U.S., Canada, and rest of North America. The U.S. generated the highest revenue in 2016, accounting for $517 million, owing to increased automotive production in the country.
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Key Findings of the North America Wood Plastic Composites Market:
• U.S. is expected to continue to lead the market throughout 2016 to 2023, followed by Canada.
• Canada is projected to register the highest growth rate from 2017 to 2023.
• The PE-based composites segment contributed approximately 70% share of the market revenue in 2016.
• The building & construction segment is projected to dominate the North America wood composites market.
• Automotive components segment is projected to register the highest growth rate from 2016 to 2023.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market
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