Wood Plastic Composites Market Top Players, Segments, Cost Structure, Demand, Sales | 2030 Forecast

 Wood Plastic Composites Market Growth & Trends

The global wood plastic composites market is expected to reach USD 15.41 billion by 2030, growing at a CAGR of 11.5% over the forecast period, according to a new report by Grand View Research Inc. The market is driven by the rising demand for sustainable construction materials along with an increase in the renovation and repair activities in the residential sector across the globe.

Wood plastic composite has high durability, bending strength, shear strength, low moisture content, and low water absorption, as compared to conventional wood products. These properties have made it viable for use in railings, windows, doors, exterior siding, fencing, flooring, interior molding, and landscape materials.

The COVID-19 pandemic has resulted in significant changes in the global construction industry. Delay in new construction activities and intensification of labor shortages, along with an inadequate supply of raw materials have been some effects of the pandemic which had created an adverse impact on the market growth.

Increasing infrastructural development activities, especially in the emerging economies such as China, India, Thailand, and Brazil coupled with the growing demand for aesthetically appealing furniture and flooring solutions across the globe have surged the demand for wood plastic composite in the construction industry in the recent times.

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Wood Plastic Composites Market Report Highlights

• The polypropylene composites product segment accounted for USD 1.08 billion in 2021 and is projected to grow at a CAGR of 11.6% from 2022 to 2030. The demand is increasing as a result of its heavy use in the niche application segments such as water-resistant coatings on furniture and high temperature controllable wooden units.
• The automotive industry application segment accounted for the revenue share of 16.0% in 2021 on account of its favorable properties such as lightweight, machinability, durability, and environmental friendliness. These properties are also expected to boost the market revenue during the forecast period.
• The construction and building application segment is expected to grow at a CAGR of 11.5% from 2022 to 2030 on account of the positive impact of the increasing government support and investments in the development of housing infrastructures in various emerging economies.
• The Asia Pacific is projected to witness substantial market growth of 12.3% from 2022 to 2030. The construction industry in the region is expected to witness significant growth during the forecast period owing to the rising per capita income, ongoing urbanization, and growing population.
• Key players are adopting partnership strategies with companies to gain dominance in the market which provides them a competitive advantage in terms of manufacturing sustainable products and using advanced technologies in the field.
• The market is characterized by the presence of various small- and large-scale vendors, resulting in a moderate level of concentration in the market. Major manufacturers are focusing on their capacity expansions for developing various types of wood plastic composite products.

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Wood Plastic Composites Market Segmentation

Grand View Research has segmented the wood plastic composites market based on product, application, and region:

Wood Plastic Composite Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)

• Polyethylene
• Polypropylene
• Polyvinylchloride
• Others

Wood Plastic Composite Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)

• Building and Construction
  • Decking
  • Molding & Siding
  • Fencing
• Automotive Components
• Industrial and Consumer Goods
• Others

Wood Plastic Composite Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Spain
  • Italy
  • Russia
  • Netherlands
  • Switzerland
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Thailand
  • Indonesia
  • Singapore
  • New Zealand
  • Philippines
• Central & South America
  • Brazil
  • Argentina
  • Chile
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • United Arab Emirates (UAE)
  • Egypt
  • Iran

List of Key Players of the Wood Plastic Composites Market

• Advanced Environmental Recycling Technologies, Inc. (AERT)
• Axion Structural Innovations LLC
• Beologic N.V.
• CertainTeed Corporation
• Fiberon, LLC
• Fkur Kunststoff GmbH
• Guangzhou Kindwood Co. Ltd.
• Jelu-Werk Josef Ehrler GmbH & Co. KG
• Woodmass
• PolyPlank AB
• Renolit
• TAMKO Building Products, Inc.
• TimberTech
• Trex Company, Inc.
• Universal Forest Product

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.