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Wood Plastic Composites Market - Global Industry Analysis

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

Published Date: 15-Dec-2021 Category: Chemical & Materials Report Format : PDF Pages: 188 Report Code: ZMR-939 Status : Published

The global Wood Plastic Composites Market accrued earnings worth approximately 5.9 (USD Billion) in 2020 and is predicted to gain revenue of about 13.9 (USD Billion) by 2028, is set to record a CAGR of nearly 12.4% over the period from 2021 to 2028.

Description

The global Wood Plastic Composites Market accrued earnings worth approximately 5.9 (USD Billion) in 2020 and is predicted to gain revenue of about 13.9 (USD Billion) by 2028, is set to record a CAGR of nearly 12.4% over the period from 2021 to 2028. The report offers assessment and analysis of the Wood Plastic Composites Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

Wood Plastic Composites Market: Overview

Wood plastic composites are integration of natural wood such as wood shavings and plastic fibers. It possesses high strength, low moisture content, and low water absorption in comparison to traditional wood plastic products. Moreover, these beneficial features have made its applications prominent in railings, fencing, interior molding, windows, doors, landscape materials, flooring, and exterior siding. These products have low melting point as compared to various other conventional wood items and this helps in reducing energy costs for consumers along with minimizing hazardous effect of product on environment. It enhances material durability & moisture resistance, thereby enhancing its acceptance.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Wood Plastic Composites Market: Growth Factors

Large-scale use of wood plastic composites in building & construction activities will steer expansion of wood plastic composites market over forecasting timespan.  Apparently, wood plastic composites have huge potential & are green sustainable items that enable product in achieving strength without massive use of toxic chemicals, thereby creating huge demand for these products. In addition to this, rise in use of wood plastic composites in automotive production owing to its low costs, biodegradability, reduced density, and ability to provide mechanical strength will drive market trends. Apart from this, use of wood plastic composites improves mechanical strength of product, acoustic performance, and reduces material mass along with minimizing manufacturing costs & fuel consumption. Nonetheless, huge initial price of wood plastic composites will impede business growth.

Furthermore, flexibility and resistance to extreme climatic conditions can optimize utilization of wood plastic composites in various constructions & building structures, thereby steering industry growth.

Regional Landscape

North America To Make Lucrative Contributions Towards Regional Market Share By 2028

Expansion of wood plastic composites market in North America over assessment period is due to large-scale demand for product in the countries such as the U.S. Additionally, surge in use of product in dock production, porch manufacturing, and window frame production will culminate into humungous expansion of wood plastic composites industry in North America. Apart from this, escalating popularity & use of bio-based plastics in landscaping as well as street construction will sketch a profitable growth curve for wood plastic composites market in region. Massive demand for eco-friendly products in sub-continent will open new facets of growth for market in North American zone.

Competitive Landscape

Key players impacting market growth and profiled in study are  Beologic N.V., Perth Wood Plastic Composite Co, Ltd., Louisiana Pacific Corporation, Advanced Environmental Recycling Technologies (AERT), Inc., Trex Company, Inc., TimberTech Limited, WPC-Wood Plastic A.S., Strandex Corporation, Fiberon LLC., Solvay S.A., CertaiTeed Corporation, and JELU-WERK J. Ehrler GmbH & Co. KG.  

The global Wood Plastic Composites Market is segmented as follows:

By Product

  • Polyethylene
  • Polypropylene
  • Polyvinyl chloride

By Application

  • Building & Construction
  • Automotive
  • Electrical   

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodulogy
      • 1.3.1. Market Research Type
      • 1.3.2. Market Research Methodulogy
  • Chapter 2. Executive Summary
    • 2.1. Wood Plastic Composites Market, 2018–2028(USD Billion)
    • 2.2. Wood Plastic Composites Market: Snapshot
  • Chapter 3. Global Wood Plastic Composites Market– Industry Analysis
    • 3.1. Wood Plastic Composites Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. Humungous use of wood plastic composites in building & construction industry will embellish expansion of wood plastic composites market over forecasting period.
      • 3.2.2. Wood plastic composites have huge potential & are green sustainable items that help product acquire durability, thereby driving business trends.
    • 3.3. Porter’s Five Forces Analysis
    • 3.4. Market Attractiveness Analysis
      • 3.4.1. Market attractiveness analysis By Product
      • 3.4.2. Market attractiveness analysis By Application
  • Chapter 4. Global Wood Plastic Composites Market– Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global Wood Plastic Composites Market: company market share, 2019
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Product launches
      • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global Wood Plastic Composites Market– Product Analysis
    • 5.1. Global Wood Plastic Composites Market overview: By Product
      • 5.1.1. Global Wood Plastic Composites Market share, By Product, 2020 and 2028
    • 5.2. Pulyethylene
      • 5.2.1. Global Wood Plastic Composites Market by Pulyethylene, 2018–2028(USD Billion)
    • 5.3. Pulypropylene
      • 5.3.1. Global Wood Plastic Composites Market by Pulypropylene, 2018–2028(USD Billion)
    • 5.4. Pulyvinyl chloride
      • 5.4.1. Global Wood Plastic Composites Market by Pulyvinyl chloride, 2018–2028(USD Billion)
  • Chapter 6. Global Wood Plastic Composites Market– Application Analysis
    • 6.1. Global Wood Plastic Composites Market overview: By Application
      • 6.1.1. Global Wood Plastic Composites Market share, By Application , 2020 and 2028
    • 6.2. Building & Construction
      • 6.2.1. Global Wood Plastic Composites Market by Building & Construction , 2018–2028(USD Billion)
    • 6.3. Automotive
      • 6.3.1. Global Wood Plastic Composites Market by Automotive , 2018–2028(USD Billion)
    • 6.4. Electrical
      • 6.4.1. Global Wood Plastic Composites Market by Electrical , 2018–2028(USD Billion)
  • Chapter 7. Company Profiles
    • 7.1. Beulogic N.V.
      • 7.1.1. Overview
      • 7.1.2. Financials
      • 7.1.3. Product Portfulio
      • 7.1.4. Business Strategy
      • 7.1.5. Recent Developments
    • 7.2. Perth Wood Plastic Composite Co, Ltd.
      • 7.2.1. Overview
      • 7.2.2. Financials
      • 7.2.3. Product Portfulio
      • 7.2.4. Business Strategy
      • 7.2.5. Recent Developments
    • 7.3. Louisiana Pacific Corporation
      • 7.3.1. Overview
      • 7.3.2. Financials
      • 7.3.3. Product Portfulio
      • 7.3.4. Business Strategy
      • 7.3.5. Recent Development
    • 7.4. Advanced Environmental Recycling Technulogies (AERT), Inc.
      • 7.4.1. Overview
      • 7.4.2. Financials
      • 7.4.3. Product Portfulio
      • 7.4.4. Business Strategy
      • 7.4.5. Recent Development
    • 7.5. Trex Company, Inc.
      • 7.5.1. Overview
      • 7.5.2. Financials
      • 7.5.3. Product Portfulio
      • 7.5.4. Business Strategy
      • 7.5.5. Recent Development
    • 7.6. TimberTech Limited
      • 7.6.1. Overview
      • 7.6.2. Financials
      • 7.6.3. Product Portfulio
      • 7.6.4. Business Strategy
      • 7.6.5. Recent Development
    • 7.7. WPC-Wood Plastic A.S.
      • 7.7.1. Overview
      • 7.7.2. Financials
      • 7.7.3. Product Portfulio
      • 7.7.4. Business Strategy
      • 7.7.5. Recent Development
    • 7.8. Strandex Corporation
      • 7.8.1. Overview
      • 7.8.2. Financials
      • 7.8.3. Product Portfulio
      • 7.8.4. Business Strategy
      • 7.8.5. Recent Development
    • 7.9. Fiberon LLC
      • 7.9.1. Overview
      • 7.9.2. Financials
      • 7.9.3. Product Portfulio
      • 7.9.4. Business Strategy
      • 7.9.5. Recent Development
    • 7.10. Sulvay S.A.
      • 7.10.1. Overview
      • 7.10.2. Financials
      • 7.10.3. Product Portfulio
      • 7.10.4. Business Strategy
      • 7.10.5. Recent Development
    • 7.11. CertaiTeed Corporation
      • 7.11.1. Overview
      • 7.11.2. Financials
      • 7.11.3. Product Portfulio
      • 7.11.4. Business Strategy
      • 7.11.5. Recent Development
    • 7.12. JELU-WERK J. Ehrler GmbH & Co. KG.
      • 7.12.1. Overview
      • 7.12.2. Financials
      • 7.12.3. Product Portfulio
      • 7.12.4. Business Strategy
      • 7.12.5. Recent Development

List of Figures

1. Market research Type
2. Market research methodology
3. Global Wood Plastic Composites Market, 2018–2028(USD Billion)
4. Porter’s Five Forces Analysis
5. Global Wood Plastic Composites Market attractiveness, By Product
6. Global Wood Plastic Composites Market attractiveness, By  Application 
7. Global Wood Plastic Composites Market share by Product ,2020 and 2028 (USD Billion)
8. Global Wood Plastic Composites Market by Polyethylene, 2018–2028(USD Billion)
9. Global Wood Plastic Composites Market by Polypropylene, 2018–2028(USD Billion)
10. Global Wood Plastic Composites Market by Polyvinyl chloride, 2018–2028(USD Billion)
11. Global Wood Plastic Composites Market share by  Application ,2020 and 2028 (USD Billion)
12. Global Wood Plastic Composites Market by Building & Construction , 2018–2028(USD Billion)
13. Global Wood Plastic Composites Market by Automotive , 2018–2028(USD Billion)
14. Global Wood Plastic Composites Market by Electrical , 2018–2028(USD Billion)
15. Global Wood Plastic Composites Market share, by Region, 2020 and 2028
16. North America Wood Plastic Composites Market, 2018–2028(USD Billion)
17. Europe Wood Plastic Composites Market, 2018–2028(USD Billion)
18. Asia Pacific Wood Plastic Composites Market, 2018–2028(USD Billion)
19. Latin America Wood Plastic Composites Market, 2018–2028(USD Billion)
20. The Middle East and Africa Wood Plastic Composites Market, 2018–2028(USD Billion)
 


List of Tables

1. Global Wood Plastic Composites Market: snapshot
2. Drivers of the Wood Plastic Composites Market: impact analysis
3. North America Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
4. North America Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
5. The U.S. Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
6. The U.S. Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
7. Rest of North America Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
8. Rest of North America Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
9. Europe Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
10. Europe Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
11. UK Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
12. UK Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
13. France Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
14. France Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
15. Germany Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
16. Germany Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
17. Rest of Europe Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
18. Rest of Europe Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
19. Asia Pacific Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
20. Asia Pacific Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
21. China Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
22. China Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
23. Japan Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
24. Japan Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
25. India Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
26. India Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
27. Rest of Asia Pacific Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
28. Rest of Asia Pacific Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
29. Latin America Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
30. Latin America Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
31. Brazil Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
32. Brazil Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
33. Rest of Latin America Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
34. Rest of Latin America Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
35. The Middle East and Africa Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
36. The Middle East and Africa Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
37. Saudi Arabia Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
38. Saudi Arabia Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
39. South Africa Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
40. South Africa Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)
41. Rest of the Middle East & Africa Wood Plastic Composites Market revenue, By Product  ,2018–2028(USD Billion)
42. Rest of the Middle East & Africa Wood Plastic Composites Market revenue, By  Application  ,2018–2028(USD Billion)

 
 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Wood Plastic Composites market. Zion Research has collected and analyzed key data belong to the global Wood Plastic Composites market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Wood Plastic Composites across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Wood Plastic Composites industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases, and market reports

News articles, press releases, and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Wood Plastic Composites market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage, and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Wood plastic composites are hybrid materials that are made up of wood fibers and thermoplastics polymers. The main ingredient in the wood plastic composite is wood flour (saw dust) and thermoplastic additives such as polyethylene, polypropylene, polyvinyl chloride, etc. It offers numerous of advantages over alternatives such as pressure-treated lumber and naturally durable cedar or redwood. It provides weather resistance, long service life, and lower maintenance. Moreover, it finds numerous applications such as construction, automotive, toys, crafts, outdoor decks, fences, railing, window frames, etc.

The global wood-plastic composites market is primarily driven by strong demand from building & construction industry. Increasing demand from building & construction application is expected to boost the wood plastic composites market in future. Moreover, growing demand for recyclable materials in the automobile industry is expected to drive the demand for wood plastic composites during the years to come. However, availability of substitute materials is expected to hamper the growth of this industry in the years to come. Nonetheless, emerging markets in developing region are likely to offer new avenues to the major players in the market during the years to come.

Global-Wood-Plastic-Composites-Market

Polyethylene was the leading product segment of wood-plastic composites market in 2016. It is majorly used in molding strips, furniture materials, wall cladding, hollow boards, hollow filler section and decking process. Thus, it accounted for above 60.0% share of total wood-plastic composites consumed in 2016 and this trend is expected to continue during the future years. Polyvinyl chloride is expected to exhibit fastest CAGR within the forecast period.

Construction & building was the largest application segment for wood-plastic composites in 2016. Additionally, growing construction industry is likely to drive the demand for wood plastics composites across the globe in the near future. Automotive was the second largest market with more than 25.0% share of the total wood-plastic composites volume consumed in 2016. Automotive is also expected to be the fastest growing application market of wood-plastic composites in the next five years. Usages of wood plastic composites trim down the weight of automobiles and also boost fuel efficiency. Thus, it results in low emission of carbon and hence, it is expected to drive the demand for wood plastic composites during the years to come.  

North America was the leading regional market for wood-plastic composites in 2016. It holds for above 35.0% share of the entire market in 2016 and is expected to grow at a CAGR of 11.6% during the next five years. Asia Pacific is expected to be the fastest growing market of wood plastic composites over the years to come. Moreover, Asia Pacific is expected to exhibit robust growth owing to booming construction and automotive industry in the region.  

The key vendors in the global wood-plastic composites market include Trex Company Inc., TimberTech Limited, WPC-Wood Plastic A.S., Fiberon LLC., Perth Wood Plastic Composite Co, Ltd., Advanced Environmental Recycling Technologies (AERT), Solvay S.A., Beologic N.V., CertaiTeed Corporation, Louisiana Pacific Corporation, Strandex Corporation and JELU-WERK J. Ehrler GmbH & Co. KG among others.

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FrequentlyAsked Questions

Large-scale use of wood plastic composites in building & construction activities will steer expansion of wood plastic composites market over forecasting timespan.  Apparently, wood plastic composites have huge potential & are green sustainable items that enable product in achieving strength without massive use of toxic chemicals, thereby creating huge demand for these products. In addition to this, rise in use of wood plastic composites in automotive production owing to its low costs, biodegradability, reduced density, and ability to provide mechanical strength will drive market trends. Apart from this, use of wood plastic composites improves mechanical strength of product, acoustic performance, and reduces material mass along with minimizing manufacturing costs & fuel consumption. Furthermore, flexibility and resistance to extreme climatic conditions can optimize utilization of wood plastic composites in various constructions & building structures, thereby steering industry growth.

  

According to Zion market research report, the global Wood Plastic Composites Market accrued earnings worth approximately 5.9 (USD Billion) in 2020 and is predicted to gain revenue of about 13.9 (USD Billion) by 2028, is set to record a CAGR of nearly 12.4% over the period from 2021 to 2028.

 

North America will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to large-scale demand for product in the countries such as the U.S. Additionally, surge in use of product in dock production, porch manufacturing, and window frame production will culminate into humungous expansion of wood plastic composites industry in North America. Apart from this, escalating popularity & use of bio-based plastics in landscaping as well as street construction will sketch a profitable growth curve for wood plastic composites market in region. Massive demand for eco-friendly products in sub-continent will open new facets of growth for market in North American zone.

The key market participants include Beologic N.V., Perth Wood Plastic Composite Co, Ltd., Louisiana Pacific Corporation, Advanced Environmental Recycling Technologies (AERT), Inc., Trex Company, Inc., TimberTech Limited, WPC-Wood Plastic A.S., Strandex Corporation, Fiberon LLC., Solvay S.A., CertaiTeed Corporation, and JELU-WERK J. Ehrler GmbH & Co. KG.

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