The modern-day document posted via Report Ocean, titled “Wood Plastic Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023 to 2031,” affords a complete evaluation of the industry, which includes insights on the market trends. The file additionally consists of competitor and regional analysis, and present-day developments in the market. This document can serve as a fantastic information for investors, researchers, consultants, advertising strategists and all these who are planning to foray into the market in any form.
The global wood plastic composites market was valued at $2,551 million in 2016, and is expected to reach at $6,584 million by 2023, registering a CAGR of 12.6% from 2017 to 2023. Wood plastic composites (WPC) are derived from wood fiber material, thermoplastic polymers, and additives. They are used as a substitute component to manufacture furniture, automobiles, railings, cladding, decking lumber, molding, and others. These composites have gained traction in the last few years due to potential benefits such as costs savings, durability, recyclability, sustainability, and others.
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The global wood plastic composites market is driven by high availability of non-utilized plastic and wood wastes, increase in demand from building & construction applications, and stringent regulations on the use of chemicals in building materials. However, rise in cost of raw materials and issues regarding mechanical strength and/or weight hamper the market growth. Increased utility of biodegradable raw materials is expected to create opportunities in the global WPC market.
The global wood plastic composites market is segmented based on type, application, and geography. Based on type, it is categorized into PE-based composites, PVC-based composites, PP-based composites, and others. Based on application, it is divided into, building & construction, automotive components, industrial & consumer products, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
In 2016, Asia-Pacific occupied the highest market share, followed by North America. Asia-Pacific is expected to account for around half of the share of the global market by 2023, and is expected to witness substantial growth in the emerging countries such as China, India, and South Korea. The prominent players in the global wood plastic composites market focus on product development and agreement as their key strategies to gain significant market share.
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KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current trends, emerging estimations, and dynamics in the global wood plastic composites market.
In-depth analysis of market is conducted and estimations for key segments from 2016 to 2023 are provided.
Comprehensive analysis of factors that drive and restrain the market growth is provided.
Market share for all segments with respect to each geographical segment is detailed in the report.
Key market players are profiled and their strategies are analyzed thoroughly, which provides a competitive outlook of the global industry trends.
COVID-19 Impact
In 2019, the COVID-19 epidemic swept the globe. It brought everything to a halt. It had an impact on the entire world economy. Moreover, a great number of people have also perished. In total, 5,091,465 fatalities and 252,297,094 cases of COVID-19 have been reported worldwide. A majority of the nations on earth were affected by the pandemic. The pandemic brought some kind of loss in the majority of industries. The epidemic caused a slowdown in the chemical industry as well. According to Statista, the business generated over US$ 3.94 trillion in worldwide sales in 2019. An all-time high of US$5.4 trillion in revenue was produced by the sector in 2014.
The level of rivalry among well-known international corporations has been determined by studying a number of key industries, as well as market competition, market share, current developments in the sector, novel product launches, alliances, mergers, and acquisitions by key corporations.
The key players profiled in the report are as follows
Advanced Environmental Recycling Technologies Inc.
Axion International, Inc.
Beologic N.V.
Certainteed Corporation
Fiberon LLC.
Fkur Kunststoff GmbH
Polymera, Inc.
Tamko Building Products, Inc.
Timbertech Ltd.
Trex Company Inc.
*The other players in the value chain include
Crane Plastics
CPG International LLC.
Findock International Inc.
Guangzhou Kindwood Co. Ltd.
Josef Ehrler GmbH & Co. Kg
North Wood Plastics Inc.
Universal Forest Products, Inc.
Polyplank AB
OnSpec Composites Inc.
Plygem Holdings Inc.
KEY MARKET SEGMENTS
By Type
PE-based Composites
PVC-based Composites
PP-based Composites
Others
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By Application
Building & Construction
Automotive Components
Industrial & Consumer Products
Others
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
UAE
South Africa
Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
In this report, the key questions answered:
- How has the adoption of Market impacted COVID-19?
- What are the key market tips in key areas?
- Which utilized sciences are most impacting the anticipated global enterprise?
- Who are the major global game enthusiasts in modern times dominating the Market?
- How do AI clients turn out to be conscious of technological knowledge in strolling theatres?
- What are the vital corporation fashions determined via way of the foremost market players?
- What are the key factors that will have an effect on the expand of Market globally?
- How foremost game enthusiasts in the Global corporation environment are incorporating key
- What is the present day income contribution of distinct product kinds in the market and what are the predicted changes?
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