Wood Plastic Composites Market
This report, from Stratview Research, studies the global wood-plastic composites (WPC) market over the period 2010 to 2021. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Wood-Plastic Composites (WPC) Market: Highlights
The global WPC market offers excellent growth opportunity and is likely to grow at 10.7% CAGR during the forecast period of 2016 to 2021. Increasing use of WPC in the interior applications in growing automotive industry, recovery in building and construction activities, and high focus towards use of green materials are some of the major drivers of the global WPC market.
Building & Construction segment is expected to remain the growth engine of the global WPC market during the forecast period. Recovering North American housing starts, high residential activities in the Asia-Pacific and Middle East regions, and focus towards use of green materials are likely to drive the market segment during the forecast period. Decking, siding, and fencing are the major applications of WPC in the building & construction industry, together accounting for more than 90% of the WPC market in the building & construction industry in 2015.
Automotive segment is expected to experience the highest growth over the next five years. The automakers’ push to build lightweight vehicles for achieving government’s stringent regulations, such as CAFÉ standards and EU Carbon emissions and demand for recycled materials are likely to drive the demand of WPC in the automotive industry. WPC are mainly used in the interior applications, such as rear shelves and trims for trunks and spare wheels, and interior trims for vehicle doors. The WPC stakeholders are continuously working on the development of new WPC applications in the automotive industry.
Polyethylene based WPC is expected to remain the largest resin type during the forecast period because of its overall higher performance than other resins based WPC. Polyethylene based WPC is widely preferred for manufacturing decking, fencing, furniture, wall cladding, hollow boards, and profiles.
Extrusion process is expected to remain the most dominant process type in the global WPC market during the forecast period. Building & Construction, the largest end user industry of WPC market is heavily relied on the extrusion process to manufacture key applications, such as decking, siding, and fencing. Injection molding process is likely to exhibit the fastest growth for the same period driven by the automotive and consumer goods segments. WPC is increasingly used to produce furniture, consumer goods and household electronics using injection molding process. WPC granulates for injection molding are now produced by global players and are becoming more attractive for clients that manufacture consumer goods, automotive and other parts.
North America is expected to remain the largest WPC market in terms of region, over the next five years. More than 60% of the global WPC manufacturers are located in North America region, serving primarily construction and consumer goods industries. Asia-Pacific is likely to witness the fastest growth rate during the same period driven by growing economies, mainly China and India. Europe is the largest WPC market for automotive industry.
The supply chain of this market comprises of raw material suppliers, WPC manufacturers, part manufacturer, distributors, and OEMs. The key WPC manufacturers are TAMKO Building Product, Trex Company, Inc., Advanced Environmental Recycling Technologies, Inc., Universal Forest Products, Inc., Fiberon, LLC, TimberTech, Beologic N.V., and CertainTeed.
Process optimization, new product development, and new application development are the major strategies adopted by the key players to gain competitive edge in the market.
Our reports offer high quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage more than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The global wood-plastic composites (WPC) market is segmented into the following categories.
Global Wood-Plastic Composites (WPC) Market, By Resin Type
Global Wood-Plastic Composites (WPC) Market, By End Use Industry Type
Global Wood-Plastic Composites (WPC) Market, By Manufacturing Process Type
Global Wood-Plastic Composites (WPC) Market, By Region
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