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The Business Research Company's Wood Plastic Composite Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
It will grow to $10.92 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%.” - The Business Research Company
LANDON, GREATER LANDON, UNITED KINGDOM, October 2, 2024 /EINPresswire / -- The wood plastic composite market has experienced robust growth in recent years, expanding from $6.17 billion in 2023 to $6.95 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to environmental concerns, construction industry growth, preference for low-maintenance materials, durability and longevity, reduced dependency on treated wood, cost-effectiveness.
What Is The Estimated Market Size Of The Global Wood Plastic Composite Market And Its Annual Growth Rate?
The wood plastic composite market is projected to continue its strong growth, reaching $10.92 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to advancements in manufacturing processes, innovation in product design, development of fire-resistant formulations, increasing urbanization, growing emphasis on green building certification.
Explore Comprehensive Insights Into The Global Wood Plastic Composite Market With A Detailed Sample Report:
Growth Driver Of The Wood Plastic Composite Market
An increase in construction activities is significantly contributing to the growth of the wood plastic composite market going forward. The construction sector refers to the sector of industry and trade that deals with creating, maintaining, and repairing infrastructures. Wood plastic composite is used in construction activities to substitute wood for steel joists and beams in buildings.
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Which Market Players Are Steering The Wood Plastic Composite Market Growth?
Key players in the market include Trex Company Inc., Advanced Environmental Recycling Technologies Inc., UFP Industries Inc., Fiberon LLC, TAMKO Building Products Inc., TimberTech (part of Azek Building Products), Axion International Holdings Inc., Beologic NV, CertainTeed Corporation, FKuR Kunststoff GmbH, JELU-WERK Josef Ehrler GmbH & Co. KG, Polymera Inc., Polyplank AB, AIMPLAS - Technological Institute of Plastics, Shanghai Seven Trust Industry Co. Ltd., The Dow Chemical Company, The AZEK Company Inc., Geolam Inc., CPG International LLC, Crane Plastics, Deceuninck North America LLC, Enduris Extrusions Inc., Fiber Composites LLC, Green Bay Decking LLC, Kuijper Model and Mold GmbH, Louisiana-Pacific Corporation, North Wood Plastics Inc., OnSpec Composites Inc., Perth Wood Plastic Composite Co. Ltd.
What Are The Key Trends That Influence Wood Plastic Composite Market Share And Analysis?
Major companies operating in the market are launching new compound, such as the capstock compound to provide highly weatherable and durable outer layers for the wood-plastic composite (WPC) decking. Capstock compound refers to a type of material used in the production of composite decking and other building materials.
How Is The Global Wood Plastic Composite Market Segmented?
1) By Resin Type: Polyethylene (PE), High-density polyethylene (HDPE), Low-density polyethylene (LDPE), Linear Low-density polyethylene (LLDPE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polylactide (PLA), Other Resin Types
2) By Process: Extrusion Method, Injection Molding Method, Other Processes
3) By End-use Industry: Building And Construction, Automotive, Consumer Goods, Other End-Use Industries
Geographical Insights: Asia-Pacific Leading The Wood Plastic Composite Market
Asia-Pacific was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Wood Plastic Composite Market Definition
A wood plastic composite is a board or timber manufactured product made from wood chip fibers and recycled plastic, such as high-density polyethylene and low-density polyethylene. It is used for outdoor cladding, decking, railings, fences, flooring, and landscaping.
Wood Plastic Composite Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global wood plastic composite market report covering trends, opportunities, strategies, and more
The Wood Plastic Composite Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on wood plastic composite market size, wood plastic composite market drivers and trends, wood plastic composite market major players and wood plastic composite market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Oliver Guirdham
The Business Research Company
+44 20 7193 0708
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