Stratview Research publishes a new report titled Wood-Plastic Composites Market which is segmented by Resin (Polyethylene, Polyvinylchloride, Polypropylene, and Others), by End Use Industry (Building & Construction, Automotive, Consumer Goods, and Others), by Manufacturing Process (Extrusion, Compression Molding, and Injection Molding), by Region (NA, Europe, APAC, ROW).

Market Insights

The wood-plastic composites market was estimated at USD 5.8 billion in 2021 and is likely to grow at a CAGR of 11.28% during 2022-2028 to reach USD 12.33 billion in 2028.

Increasing use of wood-plastic composites in interior applications in the growing automotive industry, recovery in building and construction activities, and a high focus on the use of green materials are some of the major drivers of the wood-plastic composites market.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Global Wood-Plastic Composites Market Report Segments:

Building & Construction segment is expected to remain the growth engine of the market during the forecast period. Recovering North American housing starts, high residential activities in the Asia-Pacific and Middle East regions, and a focus on the use of green materials are likely to drive the market segment during the forecast period. Decking, siding, and fencing are the major applications of wood-plastic composites in the building & construction industry, together accounting for more than 90% of the wood-plastic composites market in the building & construction industry in 2021.

The automotive segment is expected to experience the highest growth over the next five years. The automakers’ push to build lightweight vehicles for achieving the government’s stringent regulations, such as CAFÉ standards and EU Carbon emissions, and demand for recycled materials are likely to drive the demand for WPC in the automotive industry. WPCs are mainly used in interior applications, such as rear shelves and trims for trunks and spare wheels, and interior trims for vehicle doors. The wood-plastic composite stakeholders are continuously working on the development of new wood-plastic composite applications in the automotive industry.

Polyethylene is expected to remain the largest resin type during the forecast period because of its overall higher performance than other resin-based wood-plastic composites.  Polyethylene is widely preferred for manufacturing decking, fencing, furniture, wall cladding, hollow boards, and profiles.

The extrusion process is expected to remain the most dominant process type in the market during the forecast period. Building & Construction, the largest end-user industry of the market is heavily relied on the extrusion process to manufacture key applications, such as decking, siding, and fencing. The injection molding process is likely to exhibit the fastest growth for the same period driven by the automotive and consumer goods segments. Wood-plastic composites are increasingly used to produce furniture, consumer goods, and household electronics using the injection molding process. WPC granulates for injection molding are now produced by global players and are becoming more attractive for clients that manufacture consumer goods, automotive, and other parts.

North America is expected to remain the largest market in terms of region, over the next five years. More than 60% of the WPC manufacturers are located in the North American region, serving primarily construction and consumer goods industries. Asia-Pacific is likely to witness the fastest growth rate during the same period driven by growing economies, mainly China and India. Europe is the largest market for the automotive industry.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors.

Customization of the report –

At Stratview Research, the market researchers make a note of opportunities, drawbacks/bottlenecks, estimations, and information related to the market using experienced skills and verified methodologies. Our research reports offer an exceptional experience of innovative solutions and outcomes to the users. If required, user can also opt for customization of the report.

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