Wood Plastic Composite Market: Opportunities and Challenges
Added: (Thu Oct 19 2023)
Pressbox (Press Release) -
The Wood Plastic Composite is making waves, and it's not just about numbers. By the end of 2029, it's projected to reach a staggering US$ 11.06 billion, boasting a remarkable CAGR of 9.35%.
The Wood Plastic Composite Market Magic
Natural wood materials like bamboo, pulp, and bark are combined with thermoplastics or polymers to create wood-plastic composites. Because of its many uses, particularly in decking and railing, the industry is growing quickly. More attractive and more functional than traditional materials like treated wood decking, WPC is a superior option. That's not all, though.
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Eco-Friendly and Economical
The WPC market is rising strongly along with the wave of environmental consciousness that is spreading through many industries. Its expansion has also been aided by changes in petrochemical costs and growing environmental concerns. WPC solves challenges related to performance and the environment while providing a sustainable substitute for conventional materials.
Wood Plastic Composite Market Segment Analysis:
Over the course of the projected period, Because polypropylene is being used more often in specialized applications such as furniture coverings resistant to water and temperature-controlled wooden units, demand for the material is anticipated to rise throughout the projected period. Additionally, it provides outstanding resistance to gases and moisture in addition to chemical resistance, which is anticipated to drive up demand for polypropylene.
by Type
Polyethylene
Polyvinylchloride
Polypropylene
Other
Tight restrictions on the use of chemicals in residential decking materials and the need for "green" construction supplies must help to ensure that wood plastic composites are widely accepted by contractors and homeowners. The need for visually attractive flooring and furniture solutions worldwide, together with an increase in infrastructure building initiatives in emerging nations, are projected to fuel growth in the global wood plastic composites market.
by Application
Building and Construction Products
Automotive Components
Industrial & Consumer Goods
Others
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Key Players
1. Tamko Building Products, Inc. 2. Axion International, Inc. 3. Beologic N.V. 4. Certainteed 5. Trex Company, Inc. 6. The AZEK Company 7. Advanced Environmental Recycling Technologies, Inc. 8. Universal Forest Products, Inc. 9. Fiberon, LLC 10. Timbertech 11. Fkur Kunststoff GmbH 12. Josef Ehrler GmbH & Co. Kg 13. Polymera, Inc. 14. Polyplank AB 15. Crane Plastics 16. CPG International LLC. 17. Findock International Inc. 18. Guangzhou Kindwood Co. Ltd. 19. North Wood Plastics Inc. 20. OnSpec Composites Inc. 21. Plygem Holdings Inc.
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