15-Dec-2021 | Zion Market Research
As per study of Zion Market Research, Wood Plastic Composites industry amassed proceeds worth nearly US$ 5.9 billion in 2020 and is anticipated to accrue returns of approximately US$ 13.9 billion by 2028. Moreover, Wood Plastic Composites market is prognosis to record CAGR of almost 12.4% in 2021-2028. Moreover, growth of wood plastic composites market over forecast timespan is subject to its ability in enhancing durability as well as moisture resistance of indoor & outdoor applications. In addition to this, surge in use of recycled plastics in various sectors is projected to prompt expansion of wood plastic composites industry over assessment period. Beneficial product features has helped it in massive utilization in window frames, flooring materials, railings, and interior molding. Apparently, increase in use of wood plastic composites in car speakers, home furniture, and kitchen components owing to its beneficial characteristics such as cost savings & sustainability will promulgate scope of market growth in near future. Increase in construction activities and massive utility of wood plastic composites in these activities will spur business sphere.
Polyethylene Segment To Dominate Product Landscape Over 2021-2028
Expansion of the product segment over projected timeline can be due to its beneficial features such as mechanical property, versatility, and processability. Moreover, the product can be mold & shaped as per business requirements of different firms and sectors. Furthermore, polyethylene finds plethora of applications in doors & windows for not only improving aesthetic value of rooms but also enhancing visual appeal of households.
Building & Construction Segment To Contribute Majorly Towards Market Size By 2028
Segmental growth over forecast timespan can be credited to rise in use of Polypropylene and Polyvinyl chloride-based wood plastic composites in building & construction industry. In addition to this, growing demand for green constructions will contribute notably towards segmental growth owing to use of wood plastic composites in building & construction sector.
Asia Pacific Market To Register Highest CAGR Over Forecast Period
Growth of Asia Pacific wood plastic composites market over forecast timespan is owing to rise in construction activities in region in countries such as Japan, India, and China. Rapid industrialization in region has made construction industry flourish in sub-continent, thereby increasing use of wood plastic composites in building & construction. This has resulted in humungous growth of wood plastic composites market in Asia Pacific zone.
Some of the mammoth players of industry have strongly influenced market size and they are Trex Company, Inc., Strandex Corporation, Beologic N.V., Perth Wood Plastic Composite Co, Ltd., Louisiana Pacific Corporation, WPC-Wood Plastic A.S., CertaiTeed Corporation, Advanced Environmental Recycling Technologies (AERT), Inc., TimberTech Limited, Fiberon LLC., Solvay S.A., and JELU-WERK J. Ehrler GmbH & Co. KG.
Browse the full “Wood Plastic Composites Market- By Product (Hospitals & Clinics, Polypropylene, And Polyvinyl Chloride), By Application (Building & Construction, Electrical, And Automotive), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/wood-plastic-composites-market
The global Wood Plastic Composites Market is segmented as follows:
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