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The global wood plastic composite market reached a value of more than USD 7.32 billion in 2023. The market is expected to grow at a CAGR of 11.6% in the forecast period of 2024-2032 to reach a value of USD 19.67 billion by 2032.
Base Year
Historical Year
Forecast Year
Global Wood Plastic Composite Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 7.32 |
Market Size 2032 | USD Billion | 19.67 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 11.6% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 12.8% |
CAGR 2024-2032 - Market by Country | India | 13.3% |
CAGR 2024-2032 - Market by Country | Canada | 12.3% |
CAGR 2024-2032 - Market by Product | Polyethylene | 12.7% |
CAGR 2024-2032 - Market by Application | Industrial and Consumer Goods | 12.4% |
Market Share by Country 2023 | Australia | 2.4% |
Wood plastic composites are composites made from a unique blend of natural wood and plastic fibres, predominantly thermoplastic resins, and wood flour filler. It is among the crucial and potential engineering wood products that are extensively utilised in the field of construction, transportation, landscape, and municipal engineering.
Wood plastic composites possess high potential as a sustainable green material and provide durability without the use of too many toxic chemicals, which can boost the wood plastic composite demand. WPCs are largely sustainable because of the utilisation of wood waste and recyclable plastic component, which helps in reducing deforestation and carbon emissions.
Wood plastic composites (WPC) comes with a high initial cost when compared to wood and plastic, which are used for the same purpose. The WPC products have higher investment, although long term utilisation can help in saving costs owing to its low maintenance costs. In terms of resistance, WPC has good stability and resistance to low temperature and normal temperature conditions but it falls flat when put under high or extreme temperatures.
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Growing Demand for Wood Plastic Composite in Construction
A major trend of wood plastic composite market is that wood-plastic composites (WPC) are materials that provide the look of wood and the properties of plastic in one product. The wide availability and unique qualities of WPC have led to surging demand in the construction industry, which is driving the growth of the market.
Rising Demand from the Automobile Sector
The scope for bio-degradable or recyclable materials is high among the automakers as they increasingly adopt composites, which help them increase mechanical strength and improve performance while reducing production costs.
A research team from Graz University of Technology (TU Graz) in Austria launched two innovative methods for joining wood with materials such as metals and polymer composites, eliminating the need for adhesives or screws, which can impact the wood plastic composite market dynamics and trends. The first method, known as AddJoining, utilises additive manufacturing to effectively bond wood with polymer composites. The second method, referred to as Ultrasonic Joining, employs high-frequency vibrations to secure materials to wood.
Rising Production of Bio Based and Recycled Plastics, Positively Influence the Market.
According to European Bioplastics, by 2028, global production capacities of bioplastics is expected to reach 7.43 million tonnes, with 62% of the total being biodegradable. PLA (polylactic acid) will dominate biodegradable bioplastics with a 43.6% share. As per the wood plastic composite industry analysis, PHA will account for 13.5%, while other biodegradable plastics such as SCPC, PBS, and PBAT will each make up smaller shares, ranging from 1.3% to 1.9%. On the biobased/non-biodegradable side, which comprises 38% of the total production, biobased polypropylene (PP) will contribute 5.9%, while biobased PTT will account for 5.3%. PE and PA will also be key contributors at 6.8% and 18.9%, respectively. The integration of biobased polymers in WPC production may increase as manufacturers look to offer greener alternatives to traditional plastic-wood blends, contributing to the overall growth of sustainable construction and consumer products as well as wood plastic composite industry revenue.
Global plastic production increased to 390.7 million tonnes in 2021 after stagnation in 2020 due to the COVID-19 pandemic. Fossil-based plastics still dominate the production landscape, accounting for 352.3 million tonnes in 2021. Post-consumer recycled plastics have grown gradually, reaching 32.5 million tonnes in 2021. Bio-based plastics, including bio-attributed plastics, increased to 5.9 million tonnes in 2021. The rise in bio-based plastics is crucial for the Wood Plastic Composite (WPC) market, which benefits from the integration of eco-friendly plastics into composite materials. As WPC production increasingly relies on recycled and bio-based polymers, the market is expected to align with global sustainability goals, which can positively impact the growth of the wood plastic composite industry.
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Based on product, the market can be segmented into polyethene, polypropylene, and polyvinylchloride, among others. Based on application, it can be bifurcated into industrial and consumer goods, building and construction, and automotive components, among others. The regional markets for the market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
Products in the Wood Plastic Composite Market
Based on the product, the market bifurcations include polyethene, polypropylene, and polyvinylchloride, among others.
The polyethylene segment is estimated to hold a significant wood plastic composite market share and grow at a CAGR of 12.7% in the forecast period, owing to its capability of being moulded in various shapes and sizes according to the need. It can combine the properties of wood with the versatile properties of polyethene. It is also expected to experience significant growth due to increasing use in water-resistant coatings on furniture and other products.
Wood Plastic Composite Finds Applications in These Sectors
Based on applications, the market divisions include industrial and consumer goods, building and construction, and automotive components. The growth of industrial and consumer goods is expected to be 12.4% in the forecast period.
The increasing infrastructural development activities in emerging nations, such as India, Thailand, and Indonesia, among others, with the increasing demand for biodegradable and recyclable composite parts, has significantly propelled the wood plastic composite market revenue. The increasing utilisation of wood plastic composite in manufacturing multiple products, such as sheet pilings, noise barriers, and garden furniture, is expected to enhance the market demand.
Trex Company, Inc. is a United States-based company engaged in manufacturing wood-alternative composite decking, railing, along with other sustainable and recyclable outdoor products. It is the world’s largest manufacturer of wood-alternative decking and railing. The company is headquartered in Virginia, United States, and was founded in 1996.
Axion Structural Innovations LLC is one of the leading companies in wood plastic composite market engaged in the manufacturing of polymer composite solutions. The company was founded in 2016 and it is headquartered in Texas, United States. They specialise in manufacturing composite railroad ties, construction mats, bridge superstructures, and industrial supports.
Geolam, Inc. is a building material manufacturing company which is headquartered in Cham, Zoug and founded in 2004. The company specialises in architecture, façade, WPC, and decking. They provide a unique product that is a hybrid aluminium/wood-plastic composite with excellent strength and durability. Additionally, it provides complete rot, mould, and mildew.
Other market players include JELU-WERK J. Ehrler GmbH & Co. KG, and Beologic N.V., among others.
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North America leads the WPC market due to a strong presence of key manufacturers and high demand from the construction and automotive industries. The USA and Canada have robust WPC industries that cater to these growing demands. The market in Canada is anticipated to witness a CAGR of 12.3% in the forecast period, influencing the wood plastic composite demand forecast.
CAGR 2024-2032 - Market by | Country |
India | 13.3% |
Canada | 12.3% |
China | 12.3% |
Mexico | 11.9% |
UK | 11.6% |
USA | XX% |
Germany | 10.5% |
France | XX% |
Italy | XX% |
Japan | XX% |
Australia | XX% |
Saudi Arabia | XX% |
Brazil | XX% |
The Asia Pacific market is expected to witness a CAGR of 12.8% between 2024 and 2032. The markets in India and China are expected to grow at a CAGR of 13.3% and 12.3% in the forecast period. This growth in the region is driven by rapid urbanisation, infrastructure development, and increasing construction activities in countries like China, India, and Southeast Asian nations. The region's abundant raw material availability and low production costs attract manufacturers to set up production facilities
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global market size reached a value of USD 7.32 billion.
The market is expected to grow at a CAGR of 11.60% during the period 2024-2032.
The market is expected to reach a value of USD 19.67 billion by 2032.
The market is driven by the increasing demand for biodegradable and recyclable products and increasing utilization in building and construction.
The rising demand for composite materials in the automotive sector for cost efficiency and enhanced durability can provide significant market growth opportunities.
The regional markets for the global wood plastic composite market include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The different products in the wood plastic composite market include polyethylene, polypropylene, and polyvinylchloride, among others.
The applications in the market include industrial and consumer goods, building and construction, and automotive components.
The key players in the market include Trex Company, Inc., Axion Structural Innovations LLC, Geolam, Inc., JELU-WERK J. Ehrler GmbH & Co. KG, and Beologic N.V., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
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+91-858-608-1494
Philippines
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+63 287899028, +63 967 048 3306
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United States (Head Office)
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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