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Wood Plastic Composites Market worth $18.25 billion by 2030, growing at a CAGR of 14.27% - Exclusive Report by 360iResearch
Wood Plastic Composites Market | 360iResearch
The Global Wood Plastic Composites Market to grow from USD 7.17 billion in 2023 to USD 18.25 billion by 2030, at a CAGR of 14.27%.
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Wood-plastic composites (WPC) are materials that integrate wood fibers or wood flour with thermoplastics, including polyethylene, polyvinyl chloride, polypropylene, or other plastics. They can contain additives such as colorants, coupling agents, stabilizers, blowing agents, reinforcing fibers, or foaming agents. The WPCs encompass various applications due to their advantageous properties, such as low maintenance requirements, durability, and resistance to rot, decay, and marine borer attacks. The rising demand for sustainable and low-maintenance building products, the expanding global construction sector, and technological advancements in composite manufacturing increase WPCs adoption. However, issues related to mechanical strength and the weight of WPC products for certain applications pose significant challenges. Nevertheless, the development of more eco-friendly resins and bio-based polymers, improvement in the material's strength-to-weight ratio, and advancements in composite processing methods are expected to create potential market growth opportunities.
In the Americas, the proliferation of WPCs is backed by high consumer awareness regarding the advantages of these composites, such as low maintenance and long service life, making them a favorable choice in decking and fencing applications, among others. Moreover, the WPC market is fueled by its sustainable forestry initiatives, governmental support for green construction practices, and the country's commitment to reducing carbon footprints. Investment trends in the Americas show a growing interest in capacity expansion and technological advancements in WPC production, with numerous initiatives promoting biobased materials. The EMEA region presents a diverse market for WPCs due to a strong focus on sustainable development and environmentally friendly materials. The Middle East and Africa WPC market is emerging with the increase in luxury construction projects and the demand for high-performance materials. The various initiatives in the Middle East, such as smart city projects, leverage the benefits of WPCs for durability and design flexibility. The EU's stringent environmental regulations and consumer preference for recyclable and non-toxic materials are propelling the growth of the WPC market. The Asia-Pacific region is showcasing significant growth in the WPC market, catalyzed by the expanding building and construction industry, increased consumer awareness about sustainable materials, and rising urbanization. Furthermore, the demand for WPC is surging owing to continuous infrastructural development across the world.
Market Segmentation & Coverage:
This research report categorizes the Wood Plastic Composites Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Polyethylene, Polypropylene, and Polyvinyl Chloride. The Polyethylene commanded largest market share of 32.96% in 2023, followed by Polyvinyl Chloride.
Based on Manufacturing Process, market is studied across Extrusion and Injection Molding. The Extrusion commanded largest market share of 62.82% in 2023, followed by Injection Molding.
Based on Application, market is studied across Automotive, Building & Construction, Furniture, and Logistics & Transportation. The Building & Construction is further studied across Decking, Fencing, and Molding & siding. The Building & Construction commanded largest market share of 28.94% in 2023, followed by Logistics & Transportation.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across Alabama, California, Florida, Illinois, Michigan, Minnesota, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 37.50% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Wood Plastic Composites Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Wood Plastic Composites Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Wood Plastic Composites Market, highlighting leading vendors and their innovative profiles. These include Anhui Guofeng Wood-Plastic Composite Co., Ltd, Anhui Hosung New Material Technology Co., Ltd., Baerlocher GmbH, Beologic, Coperion GmbH, Fiberon, LLC, FKuR Kunststoff GmbH, Green Dot Bioplastics Inc, Guangzhou Kindwood Co. Ltd., Huangshan Huasu New Material Science & Technology Co.,Ltd., Indiana International Corporation, Jelu-Werk Josef Ehrler GmbH & Co. KG, JKD Plastics, Modwood by AVC Holdings Pty Ltd., MoistureShield by Oldcastle APG, Inc., Nanjing Xuhua Sundi New Building Materials Co.,Ltd, NATURinFORM GmbH, NewTechWood Company Limited, NOVO-TECH Trading GmbH & Co. KG, Novowood by Iperwood Srl, PolyPlank AB, RENOLIT SE, Saudi Basic Industries Corporation, Shubh Wood, Sustainable Infrastructure Systems (Aust) Pty. Ltd., The AZEK Company Inc., The Dow Chemical Company, TREADWELL GROUP PTY. LTD., Trex Company, Inc., Tulou, TVL Engineers Pvt. Ltd., UFP Industries, Inc., Yixing Hualong Wood Plastics New Material Co., Ltd., and Zhejiang Kunhong New Material Co., Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Wood Plastic Composites Market, by Product
7. Wood Plastic Composites Market, by Manufacturing Process
8. Wood Plastic Composites Market, by Application
9. Americas Wood Plastic Composites Market
10. Asia-Pacific Wood Plastic Composites Market
11. Europe, Middle East & Africa Wood Plastic Composites Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Wood Plastic Composites Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Wood Plastic Composites Market?
3. What is the competitive strategic window for opportunities in the Wood Plastic Composites Market?
4. What are the technology trends and regulatory frameworks in the Wood Plastic Composites Market?
5. What is the market share of the leading vendors in the Wood Plastic Composites Market?
6. What modes and strategic moves are considered suitable for entering the Wood Plastic Composites Market?
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