Wood Plastic Composite Market To Hit USD 9.03 Billion by

Pune, India, Nov. 14 2022 (GLOBE NEWSWIRE) — According to a research report by Fortune Business Insights™which is global wood plastic composite market it is likely to get a boost from its growing applications in kitchen accessories, home furnishings, vehicle interiors, and car speakers. They are considered the highest growing plastic additive today. This information is given by Fortune Business Insights™ in a recently published report, titled, “Wood Plastic Composites Market Size, Share & Industry Analysis, and Regional Forecast, 2020-2027.” The report further mentions that the wood plastic composite market size was USD 4.77 billion in 2019 and is expected to reach USD 9.03 billion by 2027, showing a CAGR of 8.57% during the forecast period.

A list of the main manufacturers of wood plastic composites on the market

  • Trex Company, Inc. (UNITED STATES)
  • Seven Trust (China)
  • Meghmani Group (India)
  • Beologic (Belgium)
  • UFP Industries, Inc. (UNITED STATES)
  • Fiberon LLC (USA)
  • Axion International, Inc. (UNITED STATES)
  • Josef Ehrler GmbH & Co KG (Germany)
  • Croda International Plc (UK)
  • CertainTeed (USA)
  • other

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Report Scope & Segmentation

Report Attributes details
market size value in 2019 USD 4.77 Billion
revenue forecast in 2027 USD 9.03 Billion
Growth rate CAGR is almost 8.57% 2020-2027
Elementary Years 2019
Historic year 2016 – 2018
Forecast of the Year 2020 – 2027
Section Covered By Product Type, By Application, and By Geography
Forecast unit Value (Billion USD), and Volume (Units)
Quantitative Unit Revenue in USD million/billion and CAGR from 2020 to 2027
Area Covered North America, Europe, Asia Pacific, South America, and the Middle East & Africa, and the Rest of the World
Covered States United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered Aurora Cannabis Inc. (Edmonton, Canada), Aphria Inc. (Leamington, Canada), Canopy Growth Corporation (Canada), MedReleaf Corp. (Edmonton, Canada), Cronos Group Inc. (Toronto, Canada), GW Pharmaceuticals, plc. (Cambridge, England), CannTrust Holdings Inc. (Vaughan, Canada), VIVO Cannabis Inc. (Ontario, Canada), Tilray (Nanaimo, Canada), OrganiGram Holdings (Moncton, Canada)

Driver & Barrier-

Increasing the Use of Sustainable Fiber to Increase Growth

Wood plastic composite is a green material that has a high potential to realize sustainability. It does not contain excessive chemicals that can be toxic to the environment and is durable in nature. Plant-based fibers are mainly used in reinforced plastics, instead of fiber materials because they are cost effective, robust, highly rigid, and annually renewable. Such fibers also emit less carbon dioxide, have low density, and have biodegradability properties. Many car manufacturers in the world are trying to develop biodegradable or recyclable vehicle parts by using sustainable wood plastic composites. It will help reduce fuel consumption and production costs, offer durable performance in harsh weather conditions, improve passenger safety, lower material weight, and improve acoustic performance. However, wood plastic composites require a higher initial cost. It can stunt growth.

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Reasons to Buy this Report:

  • Comprehensive analysis of market growth drivers, barriers, opportunities, and related challenges.
  • Track developments, such as new product launches, agreements, mergers and acquisitions, geographic expansion, and joint ventures.
  • Determine market restraints and boosters.

segment-

The Decking Segment Is Growing Fast Due To High Demand From The Construction Sector

Based on application, the decking segment held a 55.55% share of the wood plastic composite market in 2019. This growth is due to increased demand from the construction industry. The decking process requires the use of such composites because they have several benefits that help refine the quality of concrete materials. It is also used to increase strength and durability.

The Global Wood Plastic Composite Research Report / Market Analysis Contains Answers to Your Questions Below

  • Which Manufacturing Technology is used? What Advances Are in That Technology? Which trends are driving these developments?
  • Who Are the Major Global Players in the Market? What is Their Company Profile, Product Information, and Contact Information?
  • What is the Global Wood plastic composite Market Status? What is Capacity, Production Value, Cost and Profit?
  • What is the Current Status of the Wood Plastic Composites Market? What is the Market Competition in This Industry, Both Company, and Country Wise? What is Market Analysis by Taking Application and Type into Consideration?

Regional Analysis-

Rapid Industrialization in China & India to Benefit Growth in Asia Pacific

In terms of region, North America earned a revenue of $2.24 billion in 2019 fueled by the rising demand for environmentally friendly solutions and products in this region. In addition, the rising application of wood plastic composites in decking will drive growth. In Asia Pacific, developing countries, such as China and India are experiencing rapid industrialization. Coupled with this, improvements and modernization in buildings and road construction activities will accelerate growth in this area. The Middle East and Africa and Latin America are set to show stable growth driven by the increasing number of construction activities in both regions.

Find Research Report Detailed Summary and TOC:

https://www.fortunebusinessinsights.com/wood-plastic-composite-market-102821

Full table of contents:

    • Scope of Research
    • Market segmentation
    • Research Methodology
    • Limitations and Assumptions
  • Executive Summary
  • Market dynamics
    • Market Driver
    • Market Limits
    • Market opportunity
  • Key insights
    • Major Emerging Trends – For Major Countries
    • Key developments: Mergers, Acquisitions, Partnerships, etc.
    • Latest Technological Advances
    • Insights into the Regulatory Scenario
    • Porters Five Forces Analysis
  • Global Wood Plastic Composite Market Analysis, Insights and Forecast, 2016-2027
    • Key findings / Summary
    • Market Analysis, Insights and Forecasts – By Material
      • Polyethylene
      • Polypropylene
      • Polyvinyl chloride
      • other
    • Market Analysis, Insights and Forecasts – By Application
      • Decking
      • automotive
      • Sliding & Fencing
      • Technical Applications
      • identity
      • Consumer Goods
      • other
    • Market Analysis, Insights and Forecasts – By Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East & Africa

TOC Continued…!

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Competitive Landscape-

Major Companies Pursue Acquisition Strategies to Gain a Competitive Edge

The wood plastic composite market is separated by the existence of more than 100 organizations that account for the total revenue around the world. They continuously invest large sums in research and development activities to innovate wood plastic composites at home. Some of them are also adopting merger and acquisition strategies to improve their product offerings.

Read Related Insights:

Composite Market Measure, Share and Analyze the Impact of COVID-19 and Regional Forecasts, 2020-2027

Automotive Composites Market Size, Share & Industry Analysis and Regional Forecast, 2019-2026

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