• US: +1-408-610-2300
  • Toll Free: +1-866-831-4085
  • Login / Register
Wood Plastic Composite (WPC) Market Size, 2027 | Industry Report

Wood Plastic Composite Market Analysis Report By Type, By Application, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17613279  |  Published: July 2020  |  No of Pages: 210
Format: Electronic (PDF)  |  Industry: Wood & Wood Products  |  Publisher: Grand View Research

Industry Insights

The global wood plastic composite (WPC) market size was worth USD 5.3 billion in 2019. The market is estimated to grow at 11.4% CAGR from 2020 to 2027. Increasing focus on the development of sustainable construction materials coupled with rising repair and renovation activities are driving the market growth.

Wood-plastic composite is durable and have high shear strength, bending strength and it has a low content of moisture as compared to traditional wood products. These properties of wood plastic composite have resulted in increasing use of this material in windows, exterior siding, door, flooring, landscape, fencing and interior molding. Thus, demand for the wood-plastic composite is on the rise compared to traditional woods.

U.S. wood plastic composite market

The U.S. is witnessing increasing demand for nuclear family rental houses. Considering this, builders are emphasizing on redesigning models to cater to the growing demand. Additionally, more than 70% of large urban areas witnessed growth in the development of infill housing in 2018. Thus, increasing infill development in urban areas is estimated to boost the market growth over the forecast duration.

As compared to traditional wood, the wood-plastic melting temperature is lower, thereby, reducing the adverse impact on the environment and lowering energy cost. Moreover, some tools can be used while working upon wood plastic products as used on traditional woods. This results in reducing the cost of manufacturers.

Leading companies including Cisco, IBM and Microsoft are investing to create sustainable cities and build smart infrastructure. It is predicted that such investment would reach USD 135 trillion over the next two years. Megaprojects such as Masdar City and Hudson Yards have offered a huge opportunity for industry players.

Product Insights

By product, the WPC market is categorized into polypropylene, polyvinylchloride and polyethylene. Among them, polypropylene is estimated to witness considerable growth over the forecast duration. Increasing use of this segment in various niche applications such as furniture and water-resistant coatings is driving its demand.

On the other hand, polyvinylchloride thermoplastics are being increasingly used in the automotive sector to manufacture seat cushions, backrests, dashboards and door panel owing to its superior insulation properties, which, in turn, is driving its growth.

Additionally, polyethylene category is predicted to grow with the fastest pace from 2020 to 2027. Increasing use of polyethylene in offices, resorts, hospitals and homes is attributing to its growth. Further, increasing demand for wood plastic composite from the automobile industry due to its low stiffness, cost-effectiveness and durability is propelling its demand.

Application Insights

Depending on the application, the market is segregated into industrial & consumer goods, automotive components, building & construction and others. Growing foreign direct investment and changing consumer preferences for green building are the growth of the building & construction category. Further, rapidly growing infrastructural development in emerging countries such as India, China, Brazil and Thailand coupled with an increasing attraction towards aesthetically appealing flooring and furniture is propelling the growth of the wood plastic composite in building & construction segment.

Global wood plastic composite market

Consumer spending on building products for exterior design is increasing significantly. The demand for building products that are capable in withstanding harsh environment and high resistance to moisture is gaining traction in the recent past. Further, increasing demand for a wood composite, that limits premature degradation and mold growth is on the rise, thereby supplementing the market growth.

Rising demand for wood plastic composite in the construction of noise barrier, sheet pilings and furniture for gardens are estimated to bolster its demand. Additionally, wood plastic composite is also used in the manufacturing of showpiece and toys, thereby, generating considerable demand.

Regional Insights

The U.S.is anticipated to witness significant demand for wood plastic composite owing to increasing use in the manufacturing of window frames, porches and docks. Additionally, bio-based plastics demand is increasing in street construction and landscaping application, thereby, estimated to propel the wood plastic composite (WPC) market growth.

Asia Pacific is predicted to grow with the highest CAGR over the forecast duration, primarily because of growing industrialization and increasing purchasing power. Further, changing consumer preferences in China, fragmented distribution, increasing competition in the local market and the growing number of households with dual-income are creating lucrative opportunity for the industry players.

However, increasing concern associated with trade wars between the U.S. and China, uncertainty surrounding over Brexit, and the outbreak of COVID-19 is estimated to significantly delay the investment in construction projects, thereby, adversely affecting the market growth.

Impact of COVID-19

The outbreak of COVID-19 has adversely affected the growth of the market. The pandemic has led to the closure of various end-user industries such as manufacturing, construction and automotive. Thus, closure of this industry has significantly affected the supply chain. Construction and automotive are among major end-user industries for wood plastic composite. Further, consumer spending on construction projects has reduced significantly, thereby, adversely affecting market growth. However, with relaxing lockdown norms, companies have started their operations, which, in turn, estimated to boost industry growth. In addition, several construction projects, which were put on hold due to COVID-19, are expected to resume soon, thus, offering a lucrative opportunity for the manufacturers.

Wood Plastic Composite Market Share Insights

Key market players are emphasizing on taking strategic initiatives to consolidate their position and gain a competitive edge in the market. CertainTeed Corporation is a leading player in the market that offers different kinds of wood plastic composite products. It is a subsidiary of Saint Gobain and the company is engaged in merger & acquisition, new product development and expanding their production capacity to strengthen its dominance in the market. Additionally, companies are aiming to improve the quality of their product to garner a larger consumer base.

Report Scope

Attribute

Details

Base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Volume in kilotons, Revenue in USD million, and CAGR from 2020 to 2027

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, U.K., France, Spain, Italy, Russia, Netherlands, Switzerland, China, India, Japan, Australia, South Korea, Thailand, Indonesia, Singapore, New Zealand, Philippines, Brazil, Argentina, Chile, Saudi Arabia, South Africa, United Arab Emirates, Egypt, Iran

Report coverage

Revenue forecast, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report
 

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis on latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global wood plastic composite market report on the basis of product, application and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • Polyethylene
    • Polypropylene
    • Polyvinylchloride
    • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • Building and Construction
        • Decking
        • Molding & siding
        • Fencing
    • Automotive Components
    • Industrial and Consumer Goods
    • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • The U.K.
        • France
        • Spain
        • Italy
        • Russia
        • Netherlands
        • Switzerland
    • Asia Pacific
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • Thailand
        • Indonesia
        • Singapore
        • New Zealand
        • Philippines
    • Central & South America
        • Brazil
        • Argentina
        • Chile
    • Middle East & Africa
        • Saudi Arabia
        • South Africa
        • United Arab Emirates (UAE)
        • Egypt
        • Iran

What questions do you have? Get quick response from our industry experts. Request More information
Key questions answered in the report include
key questions
We also offers customization on reports based on specific client requirement.
Request for Customization

Choose License Type

Research Assistance

Ryan Manuel
Ryan Manuel

Research Support Specialist, USA

  1. Phone: +1-408-610-2300
  2. Toll Free: +1-866-831-4085
  3. Email: [email protected]
  • World's largest premium report database
  • Transparent pre & post sale customer engagement model
  • Unparalleled flexibility in terms of rendering services
  • Safe & secure web experience
  • 24*5 Research support service
  • 100% Secure Payments
  • Our Promise
  • 100% Service Assurance
  • Market Monitoring
  • Service Flexibility
  • 24X5 Care available