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Global Wood Plastic Composite Market Share, Size, Analysis, Growth, Trends, Forecast: By Product: Polyethylene, Polypropylene, Polyvinylchloride, Others; By Application: Industrial and Consumer Goods, Building and Construction, Automotive Components, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2023-2028
Global Wood Plastic Composite Market Outlook
The global wood plastic composite market size reached a value of more than USD 5.88 billion in 2021. The market is expected to grow at a CAGR of 11.60% in the forecast period of 2023-2028 to reach a value of USD 11.36 billion by 2027.
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Global Wood Plastic Composite Market Trends
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.
Growing Demand for Wood Plastic Composite in Construction
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 helps them increase mechanical strength and improve performance while reducing production cost.
Increasing Demand for Sustainable Materials to Offer Significant Opportunities to the Market
Wood plastic composites possess high potential as a sustainable green material and provide durability without the use of too many toxic chemicals. WPCs are largely sustainable because of the utilisation of wood waste and recyclable plastic component, which helps in reducing deforestation and carbon emissions.
Significant High Initial Cost and Resistance to Extreme Temperature to be the Major Challenges for the Market
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.
Global Wood Plastic Composite Market Analysis
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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.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.
- Trex Company, Inc.
- Axion Structural Innovations LLC
- Geolam, Inc.
- JELU-WERK J. Ehrler GmbH & Co. KG
- Beologic N.V.
- Others
Products in the Wood Plastic Composite Market
Based on the product, the market bifurcations include polyethene, polypropylene, and polyvinylchloride, among others.
The polyethene segment is estimated to hold a significant share of the market, 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 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 market growth.
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.
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Competitive Landscape
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 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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| 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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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Wood Plastic Composite Market Analysis
8.1 Key Industry Highlights
8.2 Global Wood Plastic Composite Historical Market (2018-2022)
8.3 Global Wood Plastic Composite Market Forecast (2023-2028)
8.4 Global Wood Plastic Composite Market by Product
8.4.1 Polyethylene
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Polypropylene
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Polyvinylchloride
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global Wood Plastic Composite Market by Application
8.5.1 Industrial and Consumer Goods
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Building and Construction
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Automotive Components
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Global Wood Plastic Composite Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Trex Company, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Axion Structural Innovations LLC
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Geolam, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 JELU-WERK J. Ehrler GmbH & Co. KG
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Beologic N.V.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Wood Plastic Composite Market: Key Industry Highlights, 2017 and 2021
2. Global Wood Plastic Composite Historical Market: Breakup by Product (USD Billion), 2018-2022
3. Global Wood Plastic Composite Market Forecast: Breakup by Product (USD Billion), 2023-2028
4. Global Wood Plastic Composite Historical Market: Breakup by Application (USD Billion), 2018-2022
5. Global Wood Plastic Composite Market Forecast: Breakup by Application (USD Billion), 2023-2028
6. Global Wood Plastic Composite Historical Market: Breakup by Region (USD Billion), 2018-2022
7. Global Wood Plastic Composite Market Forecast: Breakup by Region (USD Billion), 2023-2028
8. North America Wood Plastic Composite Historical Market: Breakup by Country (USD Billion), 2018-2022
9. North America Wood Plastic Composite Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Europe Wood Plastic Composite Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Europe Wood Plastic Composite Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Asia Pacific Wood Plastic Composite Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Asia Pacific Wood Plastic Composite Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Latin America Wood Plastic Composite Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Latin America Wood Plastic Composite Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Middle East and Africa Wood Plastic Composite Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Middle East and Africa Wood Plastic Composite Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Global Wood Plastic Composite Market Structure
Key Questions Answered in the Report
In 2021, the global market size reached a value of USD 5.88 billion.
The market is expected to grow at a CAGR of 11.60% during the period 2023-2028.
The market is expected to reach a value of USD 11.36 billion by 2027.
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.
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