DUBAI, UAE. 18th September
2019: Wood Plastic Composites (WPC) Market
evaluates the growth trends in the industry and is anticipated to display a
significant rise in the CAGR by 2028. Wood plastic composites are made from a
definite combination of resin polymer and wood fiber. It possesses the combined
properties of wood and plastics. These are known to exhibit higher mechanical
properties and deploy greater thermal resistance. Based on the target
application, WPC can be mixed with additives such as stabilizers, wood flour,
emulsifiers, colorants or lubricants to enable a finishing look to the product.
“Wood Plastic Composite (WPC) industry is driven by
stringent government regulations and policies related to environmental
sustainability. The market players are striving to bring in the cutting-edge
technology for the manufacturing processes by increasing their spending on
research and development activities.”
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The growing concerns associated with industrial logging of
trees resulted in a major shift from the conventional use of Harwood towards
the acceptance of wood plastic composites. This hybrid material is highly
durable, sustainable and affordable. These factors are driving the adoption of
wood plastic composite market.
The wood plastic composites (WPC) industry can be
categorized into building and construction, automotive, furniture, and
infrastructure based on the application segment. Automotive segment is
attributed to hold the highest market share accredited to a considerable rise
in the demand for lightweight and biodegradable material. It is followed by the
building and construction segment and is expected to drive the market in terms
of future prospects.
Based on geography, the wood plastic composite (WPC) market
has been segmented into North America, the Asia Pacific, the Middle East, and
Africa, and Latin America. The growth of construction sector in developing countries
like India and China is driving the market for wood plastic composites. The
Asia Pacific region is anticipated to emerge as the fastest growing in the
forthcoming years. An upsurge in the automotive industry is set to further
drive the market’s growth in European countries such as France and Italy.
The global market is characterized by the presence of major
international players and emerging domestic entrants. Some of the key
competitors or manufacturers capitalizing in the wood plastic composite industry
are CPG International, American Wood Fibers Inc., Advanced Environmental
Recycling Technologies, Polymera Inc., RENOLIT, Beologic, Universal Forest
Products Inc., Fineko, CertainTeed Corporation., JELU-WERK J. Ehrler GmbH &
Co. KG, Guangzhou Kindwood Co. Ltd, Perth Wood Plastic Composite Company Ltd,
and Fiberon LLC, among others. They have examined the diverse threats, and
emerging disruptive technologies to shape the supply and demand of the wood
plastic composites market in the forthcoming years.
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Market split by Type,
can be divided into:
• Polyethylene
• Polyvinylchloride
• Polypropylene
• Other
Market split by
Application, can be divided into:
• Building and Construction Products
• Automotive Components
• Industrial & Consumer Goods
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