The growth trajectory exhibited by the wood plastic composites market
over the last few years has been steady. Additionally, their rising
use in building and construction products will further provide
lucrative opportunities for enterprises operating in the global wood
plastic composites market. A recent report by Transparency Market
Research, titled “Wood-Plastic Composites Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast - 2019,”
enumerates the various factors influencing the growth trajectory of
the global wood plastics market. The 87-page report presents a
comprehensive outlook of the growth drivers and key restraints that
the market has been witnessing and opportunities that it may come
face to face with in the near future.
Wood plastic composites are hybrid materials made of natural wood and
plastic fiber. These materials are manufactured using wood
fiber/flour and other thermoplastics such as polyethylene,
polypropylene, and polyvinyl.
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In order to produce wood-plastic composites, finely ground wood
particles are mixed with heated thermoplastic resins. The most
commonly used technique enabling the molding of the wood-plastic
composite mixture into desired shapes and sizes is extrusion.
The report states that the overall value of the global wood plastic
composites market stood at US$2.6 bn in 2012. Rising at a CAGR of
10.8% between 2013 and 2019, the market is anticipated to reach
US$5.4 bn by the end of the forecast period.
The escalating demand for these materials in the manufacture of
various interior components of automobiles is anticipated to fuel
demand from the market. Wood plastic composites help in reducing the
overall weight of a vehicle, thereby improving its fuel efficiency.
The market for wood-plastic composites is also gaining from the
implementation of stringent government regulations curbing the use of
100% wood or plastic. However, the market at present is facing
challenge in the form of the development of natural fiber composites
such as fruit fibers, straw fibers, seed fibers, and leaf fibers.
Among the product segments, polyethylene wood-plastic composites held
the largest share in the market in 2012. Polyethylene wood-plastic
composites are mostly used in the building and construction industry.
However, the report expects the polyvinyl chloride segment to report
the fastest growth in the market over the forecast period owing to
its increased use in window and decking applications.
Based on application, building and construction emerged as the
largest segment, accounting for a share of 70% in the global
wood-plastic composites market in 2012. Wood-plastic composites are
preferred for constructing exterior buildings and construction
products because they offer high resistance against fading,
scratching, and staining. The automotive industry, however, is
expected to emerge as the fastest growing application segment of the
wood-plastic composites market over the forecast period.
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Regionally, North America dominated the global wood-plastic
composites market in 2012 and the hierarchy is anticipated to
continue through the forecast period. Enterprises operating in the
market also find lucrative prospects in Asia Pacific. This regional
market will exhibit a CAGR of 10.0% between 2013 and 2019.
Compiled with exhaustive information, the report presents valuable
insights into the global wood-plastic composites market’s present
dynamics and development status. To provide a comprehensive outlook
of the prevailing competition, the report also profiles companies
such as Fiberon LLC., Trex Company Inc., Advanced Environmental
Recycling Technologies (AERT), CPG International, and Fineko.
This
report segments the global wood-plastic composites market as follows:
Wood-Plastic
Composites Market – Product Segment Analysis
- Polyethylene
- Polypropylene
- Polyvinyl chloride
- Others (ABS, polystyrene and polylactide)
Wood-Plastic
Composites Market - Application Analysis
- Building & construction
- Automotive
- Electrical
- Others (Toys, trays, musical instruments, shoe soles, etc)
Wood-Plastic
Composites Market - Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World
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company’s exclusive blend of quantitative forecasting and trend
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