LONDON, Dec. 19, 2016 /PRNewswire/ -- KEY FINDINGS
A mix of natural wood and plastic fiber forms wood-plastic composites. These help in reducing the overall weight of a vehicle, and in turn, it enhances its fuel efficiency. Wood plastic composites are a low-priced and eco-friendly substitute to plastic and steel components in construction applications. Hence, their demand is constantly growing in the market.
North America dominates the global wood-plastic composites market and is one of the bigglest producers for the same in the world. This market in North America is expected throughout the forecast period. The drivers of the wood-plastic composite market in North America is mainly because of the growing investments in infrastructure and the shift to advanced housing infrastructure from old materials.
The wood-plastic composites are segmented by types: Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC) and Others. Polyethylene based wood plastic composites dominate the industry. The building & construction products segment is regarded to be the largest consumer of Polyethylene and Polyvinyl Chloride wood-plastic composites. The automotive components segment comes in next where wood-plastic composites are used in the making of lightweight automotive components.
Based on their application, this market has been segmented into building & construction products, decking, fencing, industrial & consumer goods, automotive components, and others. Among these, the building and construction segment appeared as the largest in the global wood-plastic composites market.
Key players in the industry include Trex Company, Inc., Advanced Environmental Recycling Technologies, Inc. (AERT), Universal Forest Products, Inc., Axion International, Inc., Fiberon, LLC, TimberTech, TAMKO Building Products, Inc., Beologic N.V., CertainTeed, among others.
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