Wood-Plastic Composites Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019
Transparency Market Research has released a new report titled “Wood-Plastic Composites (Polyethylene, Polypropylene, Polyvinyl Chloride and Others) Market for Building & Construction, Automotive, Electrical and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.” According to the report, the global wood-plastic composites market was valued at USD 2.64 billion in 2012 and is anticipated to reach USD 5.39 billion in 2019, expanding at a CAGR of 10.8% between 2013 and 2019.
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Increasing demand for wood-plastic composites in the manufacture of building & construction products is estimated to boost the overall wood-plastic composites market over the next few years. Additionally, rising demand for wood-plastic composites to manufacture several interior components of automobiles is projected to fuel market growth. Wood-plastic composites help in reduction of the overall weight of the vehicle and in turn enhance its fuel efficiency. Furthermore, implementation of stringent environmental regulations restricting the use of 100% plastic or wood is expected to boost the demand for global wood-plastic composites. However, the development of other natural fiber composites such as straw fiber, fruit fiber, leaf fiber and seed fiber is likely to hamper the overall growth of wood-plastic composites market in the near future.
Polyethylene wood-plastic composites dominated the global wood-plastic composites market in 2012. The major application of polyethylene wood-plastic composites is in building & construction industry. Polyvinyl chloride wood-plastic composite is expected to be the fastest growing product segment of the market during the forecast period owing to its growing application in window and decking applications.
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Building & construction was the largest application segment of the wood-plastic composites and accounted for over 70% of the total volume demand in 2012. Exterior building & construction products manufactured using wood-plastic composites offer high resistance to staining, fading and scratching. Additionally, automotives is expected to be the fastest growing application of the market owing to the increasing substitution of conventional materials such as metals by wood-plastic composites.
North America was the largest market for wood-plastic composites in 2012 and the trend is expected to continue into the forecast period. However, Asia Pacific is anticipated to witness the fastest growth in the market over the forecast period. The Asia Pacific wood-plastic composites market is expected to grow at a CAGR of over 10% between 2013 and 2019. China plays a key role in driving Asia Pacific market due to huge production capacities for wood-plastic composites products.
The global wood-plastic composites market is highly fragmented in nature. Major players in the wood-plastic composites market include Trex Company Inc., Fiberon LLC., CPG International, Advanced Environmental Recycling Technologies (AERT) and Fineko. Entry of new players, especially in Asia Pacific, is likely to boost the overall market growth.
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This report segments the global wood-plastic composites market as follows:
Wood-Plastic Composites Market – Product Segment Analysis
- Polyvinyl chloride
- Others (ABS, polystyrene and polylactide)
Wood-Plastic Composites Market - Application Analysis
- Building & construction
- Others (Toys, trays, musical instruments, shoe soles, etc)
Wood-Plastic Composites Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World
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