DUBLIN, May 16, 2019 /PRNewswire/ -- The "Wood-Plastic Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global wood-plastic composites market reached a volume of 3.6 Million Tons in 2018. The market is further expected to reach a volume of 6.6 Million Tons by 2024, exhibiting a CAGR of 10.6% during 2019-2024.
Wood-plastic composites are hybrid materials which are made by blending natural wood products such as bamboo, pulp, bark etc. with thermoplastics or polymers. These products can be easily drilled and planed and are created by using biodegradable, recycled, renewable plastic materials. Wood-plastic composites possess qualities of both wood and plastic.
These composites are versatile, durable and rot resistant in nature which makes it possible for the manufacturers to produce them in any shape. Wood plastic composites are capable of working in high temperature zones owing to which they can be used in the locations where normal wood materials cannot be used. Production of these materials encourages the reuse of wood waste which is otherwise sent to landfills.
Wood-plastic composites market drivers:
The use of wood plastic composites prevents the deforestation owing to which they act as an ideal substitute for hard wood. Additionally, the manufacturing process of wood plastic composites does not involve any chemical which can be harmful or toxic to the environment. These environmental concerns and rising awareness regarding them act as a primary factor which has been driving the growth of the market.
The demand for wood plastic composites has been witnessing a robust growth in the construction and automobile industries as they are inexpensive in nature and are easy to be used in different non-structural areas including balconies, staircases, pillars, etc.
Wood plastic composites offer numerous benefits as compared to its substitutes. They are durable, rust-free in nature, require low-maintenance and sustain high temperatures on account of which they are being increasingly used in interiors, car speakers, and home furniture and kitchen appliances. This has contributed towards an augmented demand for wood plastic composites across the globe.
There has been an increase in industrialisation and urbanisation in developing nations which has given a boost to the construction and building sectors. These are some of the growth-inducing forces which have been acting in favour of the global wood composites market.
Based on the type of plastic, the market has been segmented as polyethylene, polyvinylchloride, polypropylene and others. Currently, polyethylene dominates the market, holding the largest share.
Based on the application, the market has been segmented as building and construction, automotive, industrial and consumer goods, and others. Currently, the building and construction segment dominates the market, holding the largest share.
Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst these, North America is the leading market, accounting for the majority of the global market.
Key Questions Answered in This Report:
- How has the global wood-plastic composites market performed so far and how will it perform in the coming years?
- What are the key regions in the global wood-plastic composites market?
- What is the breakup of the global wood-plastic composites market on the basis of product type?
- What is the breakup of the global wood-plastic composites market on the basis of application?
- What are the various stages in the value chain of the global wood-plastic composites industry?
- What are the key driving factors and challenges in the global wood-plastic composites industry?
- What is the structure of the global wood-plastic composites market and who are the key players?
- What is the degree of competition in the global wood-plastic composites market?
- How are wood-plastic composites manufactured?
Key Topics Covered:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Wood-Plastic Composites Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Type
5.4 Market Breakup by Application
5.5 Market Breakup by Region
5.6 Market Forecast
5.7 SWOT Analysis
5.8 Value Chain Analysis
5.9 Porters Five Forces Analysis
6 Market Breakup by Type
7 Market Breakup by Application
7.1 Building and Construction
7.3 Industrial and Consumer Goods
8 Market Breakup by Region
8.1 North America
8.2 Asia Pacific
8.4 Middle East and Africa
8.5 Latin America
9 Wood-Plastic Composites Manufacturing Process
9.1 Product Overview
9.2 Raw Material Requirements
9.3 Manufacturing Process
9.4 Key Success and Risk Factors
10 Competitive Landscape
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1 Trex Company Inc.
10.3.2 Axion Structural Innovations LLC
10.3.3 Beologic N.V.
10.3.4 Oldcastle Architectural Inc.
10.3.5 CertainTeed Corporation
10.3.6 Fiberon LLC
10.3.7 Fkur Kunststoff GmbH
10.3.8 Guangzhou Kindwood Co. Ltd.
10.3.9 Jelu-Werk Josef Ehrler GmbH & Co. KG
10.3.11 PolyPlank AB
10.3.13 TAMKO Building Products Inc.
10.3.15 Universal Forest Product
For more information about this report visit https://www.researchandmarkets.com/r/r35i70
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