The Global Wood Plastic Composites Market report for by Type (polyethylene, polyvinylchloride, polypropylene and other), by application (building and construction products, automotive components, industrial & consumer goods and others), by geography (North America, Europe, Asia Pacific, Middle East & Africa and South America)) is expected to reach US $ XX Bn by 2027, at a CAGR of 9.8 %.
An increase in the demand from building & construction application, demand for recyclable materials in the automobile industry and Ban on the usage of copper, chromium, and arsenic are some of the prominent drivers behind the growth of the global wood plastic composites market. On the other hand, the lack of inflexibility and the impact of heavy load coupled with the absence of the well-defined quality standards and the high cost of wood plastic composites (WPCs) are expected to limit the growth in the market.
The building & construction segment is expected to share significant growth in the global wood plastic composites market.
By application, building & construction products segment is expected to grow at a XX% rate of CAGR followed by automotive segments. Wood plastic composites are manufacturing by the wood fiber, thermoplastic, and other materials like pigments, lubricants, blowing agents, and foaming agents, which are used in minor quantities. The wood-plastic composites are used in an array of applications like decking, molding & sliding, and fencing. The demand for wood plastic composites from the construction industry is increasing because of its superior performance benefits,
durability, and low maintenance cost over conventional materials.
The Asia Pacific region is projected to be leading region in the market
By region, the global wood plastic composites market is segmented into the North America, Europe, Asia Pacific, Middle East & Africa, and South America. Among these, the Asia Pacific region is projected to contribute the US $ XX Mn share in the market.
The growth in the market is attributed to the huge and increasing population base and rapid urbanization across the region. The rapid expansion of the manufacturing sector in developing economies like China and India is expected to boost the market growth in the wood plastic composites market in the region.
Key players operating in the Global Wood Plastic Composites Market includes Tamko Building Products, Inc., Axion International, Inc., Beologic N.V., Certainteed, Trex Company, Inc., Advanced Environmental Recycling Technologies, Inc. , Universal Forest Products, Inc., Fiberon, LLC, Timbertech, Fkur Kunststoff GmbH, Josef Ehrler GmbH & Co. Kg, Polymera, Inc. and Polyplank AB.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Wood Plastic Composites Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist . The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Wood Plastic Composites Market positioning of competitors.
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