Global Wood Plastic Composite Market is Announce a Prominent CAGR growth of 11.4% From 2020 to 2027
September 15, 2021
The global Wood-plastic composites market is expected to grow USD 12.5 billion by 2027, at a CAGR of 11.4% during the forecast period 2020-2027.NEWARK, UNITED STATES, NEW JERSEY, September 15, 2021 /EINPresswire.com/ -- Fior Markets has recently released a research report titled Global Wood Plastic Composite Market By Type (Polyvinylchloride, Polyethylene, Polypropylene, Others), Applications (Building & Construction Products, Automotive Components, Industrial & Consumer Goods, Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, And Forecast 2020 To 2027.
The global wood plastic composite market is expected to grow from USD 5.3 billion in 2019 to USD 12.5 billion by 2027, at a CAGR of 11.4% during the forecast period 2020-2027. North America is the dominating market. Whereas, Asia-Pacific is set to emerge as the fastest-growing market owing to factors such as urbanisation, constantly expanding cities with a lot of construction activities.
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The key players in the wood-plastic composites market include Beologic, FKUR, AXION STRUCTURAL INNOVATIONS LLC, AZEK building products, Fiberon technologies, Timbertech, Trex Company Inc., Polymera Inc., Advanced Environmental Recycling Technologies Inc., Polyplank AB, Universal Forest Products Inc., Certainteed, Josef Ehrler GmbH & Co.
The type segments include polyvinylchloride, polyethylene, polypropylene, and others. Polyethylene dominates the market by holding the largest share in this segment. PVC is a thermoplastic material and can be melted repeatedly. It becomes soft on heating to a specific temperature and hardens on cooling. PVC wood-composites are widely used in the construction business as it is a low maintenance material. This makes PVC a widely consumed type of WPC in the global market. Based on the application, the market is segmented as building & construction, automotive, industrial & consumer goods, and others. The building and construction segment has the largest market share in this segment.
Its features such as; longevity, versatility, sustainability, recyclability, and cost savings in a wide array of applications such as car speakers, home furniture, interiors, construction, kitchen accessories and others is fuelling the growth of this market. These composites are growing at a very high rate among the plastic additives.
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About the report:
The global wood plastic composite market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on a global, regional, and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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