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"Wood-plastic composites market projected to reach USD 5.84 billion by 2021.”
The wood-plastic composites market is projected to reach USD 5.84 billion by 2021, at a CAGR of 12.4% from 2016 to 2021. The increasing consumption of wood-plastic composites in the building and construction applications for decking and recent technological advancements in composite producing plants are some of the key factors driving the growth of the wood-plastic composites market.
Polyvinylchloride (PVC) is a thermoplastic material, which can be melted repeatedly. It becomes soft on being heated to a certain temperature, and then hardens on cooling. PVC is a widely consumed type of WPC in the global market. Due to its various advantages, consumers prefer using it as compared to other types of WPC. PVC wood-composites are extensively used in the construction business as it is a low maintenance material. It is widely used in various countries such as the U.S., the U.K., and Ireland. This material has almost entirely replaced the use of raw wood, which has a tendency to rot after a couple of years.
Asia-Pacific market to register highest growth in the wood-plastic composites market by 2021
The wood-plastic composites market in Asia-Pacific is projected to register the highest CAGR between 2016 and 2021. The growth of Asia-Pacific wood-plastic composites market is driven by the increasing demand of wood-plastic composites from China and other countries in the region. China is the major consumer of wood-plastic composites in Asia-Pacific with high demand in building & construction and automotive components applications, followed by Japan and India. India wood-plastic composites market is estimated to grow at the highest CAGR between 2016 and 2021.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS:
- By Company Type: Tier 1 - 37 %, Tier 2 - 50%, and Tier 3 - 13%
- By Designation: C Level - 50%, Director Level - 31%, and Others - 19%
- By Region: North America - 31%, Europe- 38%, Asia-Pacific- 25%, and RoW - 6%
The major companies profiled in this report are Trex Company, Inc. (U.S.), Advanced Environmental Recycling Technologies, Inc. (U.S.), Universal Forest Products, Inc. (U.S.), Fiberon, LLC (U.S.), TAMKO Building Products, Inc. (U.S.), TimberTech (U.S.), Axion International, Inc.(U.S.), Beologic N.V. (Belgium), CertainTeed (U.S.), FKuR Kunststoff GmbH (Germany.), Josef Ehrler GmbH & Co. KG. (Germany), Polymera, Inc. (U.S.), Polyplank AB (Sweden), among others.
Reasons To Buy this report:
This report covers the following key aspects:
- What will be the market size by 2021 and what will be the growth rate
- What are the key market trends
- What are the factors expected to drive the growth of the market
- What are the challenges that impact market growth
- Who are the key players in this market
- Global report covers key regions, such as North America, Europe, and Asia-Pacific, including major countries in these regions such as the U.S., China, Taiwan, and Germany