The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The European wood plastic composites market is predicted to register a CAGR of 12.22% in terms of revenue during the estimated period of 2020-2028. In terms of volume, the market is estimated to register a CAGR of 10.77%. In Europe, wood plastic composites are used to produce furniture, consumer goods, technical parts, household electronics for injection molding, and extrusion processes. The development of new methods of production, such as extrusion wood plastic composites board in many end applications, is favorable for the overall market growth.
The Europe wood plastic composites market is further surveyed by segregating the European region into countries such as the UK, France, Italy, Germany, Poland, Russia, Belgium, and the rest of Europe. In Russia, wood plastic composites are majorly used for building and construction purposes. In order to meet the growing demand for high-quality building materials, wood plastic composites are used in construction, as they are more durable and resistant than wood to environmental conditions. Outdoor furniture manufacturers use WPC to produce high-quality products due to the harsh climatic conditions in Russia. In Belgium, growth in the automotive sector and the use of wood plastic composites in construction to meet the rising demand for high-quality building materials are contributing to market growth. In countries like Poland, the considerable growth in the construction industry, with the output expanding by 17% in real terms in 2018 and the government’s plans to upgrade the transport infrastructure, is expected to fuel the WPC market.
The rest of Europe includes countries like Switzerland, Portugal, Austria, and Spain. The WPC market of these countries has been growing in the last five years, estimated to grow at a steady growth rate owing to the increasing demand of WPC in decking. Also, the building and construction segment is expected to undergo a double growth rate in the coming years due to the increasing population boosting market growth further.
Beologic N.V., JELU-Werk Josef Ehrler GmbH & Company KG , Polyplank AB, Universal Forest Products, Inc., FKuR Kunstsoff GmbH, etc. are some of the prominent companies operating in the market.
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