Wood Plastic Composites Market Set for Rapid Growth by Key Players: Crane Plastics, CPG International, Findock International, Guangzhou Kindwood, Josef Ehrler and More
The major companies have adopted product development, expansion, and merger strategies to sustain the intense market competition. The key players profiled in the report include Advanced Environmental Recycling Technologies, Inc., Axion International, Inc., Beologic N.V., Certainteed Corporation, Fiberon, LLC., Fkur Kunststoff GmbH, Polymera, Inc., Tamko Building Products, Inc., Timbertech Ltd., and Trex Company, Inc.
The other market players (not profiled in report) in the value chain include Crane Plastics, CPG International LLC., Findock International Inc., Guangzhou Kindwood Co. Ltd., Josef Ehrler GmbH & Co. Kg, North Wood Plastics Inc., Universal Forest Products, Inc., Polyplank AB, OnSpec Composites Inc., and Plygem Holdings Inc.
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Innovative uses for wood-based composites are constantly accomplished. These hybrid materials provide sustainability, longevity, and cost savings in a wide array of applications such as car speakers, interiors, home furniture, and kitchen accessories.
The global wood plastic composites market is driven by high availability of non-utilized plastic and wood wastes, increase in demand from building & construction applications, and stringent regulations on the use of chemicals in building materials. However, rise in cost of raw materials and issues related to mechanical strength and/or weight hamper their potential for several structural applications. Conversely, increase in implementation of biodegradable raw materials is expected to create opportunities in the global WPC market. Market players have adopted merger as their key strategy to widen their brand portfolios and expand their market reach.
The global wood plastic composites market is segmented based on type, application, and geography. Based on type, it is categorized into PE-based composites, PVC-based composites, PP-based composites, and others. Based on application, it is divided into building & construction, automotive components, industrial & consumer products, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
In 2016, the automotive components segment, in terms of revenue, accounted for around one-seventh of the global market share.
The automotive components segment is the most lucrative segment for investment in the due to high demand for recyclable, dimensionally stable, and lightweight materials for interior automotive parts during the recent years. Thus, this segment is anticipated to show high growth rate along with significant return on investment for the stakeholders, owing to its notable revenue contribution.
Global Wood Plastic Composites Market Analysis
Asia-Pacific possesses maximum potential for growth in the global wood plastic composites market, on account of the high demand from the automotive & construction sector. The European countries, such as Germany, UK, and France, are expected to witness high demand for wood plastic composites, owing to stringent regulations in environmental compliance assessment (ECA) for automotive components.
• This report provides an extensive analysis of the current trends, emerging estimations, and dynamics in the global wood plastic composites market.
• In-depth analysis of the market is conducted, and estimations for key segments from 2014 to 2022 are provided.
• Comprehensive analysis of the factors that drive and restrain the market growth is provided.
• Industry analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
• Key market players are profiled and their strategies are analyzed thoroughly to provide a competitive outlook of the industry trends.
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