12 December 2019 - The Global Wood Plastic Composites (WPC) Market evaluates the growth trends in the industry and is anticipated to display a significant rise in the CAGR by 2028. Wood plastic composites are made from a definite combination of resin polymer and wood fiber. It possesses the combined properties of wood and plastics. These are known to exhibit higher mechanical properties and deploy greater thermal resistance. Based on the target application, WPC can be mixed with additives such as stabilizers, wood flour, emulsifiers, colorants or lubricants to enable a finishing look to the product.
“Wood Plastic Composite (WPC) industry is driven by stringent government regulations and policies related to environmental sustainability. The market players are striving to bring in the cutting-edge technology for the manufacturing processes by increasing their spending on research and development activities.”
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The growing concerns associated with industrial logging of trees resulted in a major shift from the conventional use of Harwood towards the acceptance of wood plastic composites. This hybrid material is highly durable, sustainable and affordable. These factors are driving the adoption of wood plastic composite market.
The wood plastic composites (WPC) industry can be categorized into building and construction, automotive, furniture, and infrastructure based on the application segment. Automotive segment is attributed to hold the highest market share accredited to a considerable rise in the demand for lightweight and biodegradable material. It is followed by the building and construction segment and is expected to drive the market in terms of future prospects.
Based on geography, the wood plastic composite (WPC) market has been segmented into North America, the Asia Pacific, the Middle East, and Africa, and Latin America. The growth of construction sector in developing countries like India and China is driving the market for wood plastic composites. The Asia Pacific region is anticipated to emerge as the fastest growing in the forthcoming years. An upsurge in the automotive industry is set to further drive the market’s growth in European countries such as France and Italy.
The global market is characterized by the presence of major international players and emerging domestic entrants. Some of the key competitors or manufacturers capitalizing in the wood plastic composite industry are CPG International, American Wood Fibers Inc., Advanced Environmental Recycling Technologies, Polymera Inc., RENOLIT, Beologic, Universal Forest Products Inc., Fineko, CertainTeed Corporation., JELU-WERK J. Ehrler GmbH & Co. KG, Guangzhou Kindwood Co. Ltd, Perth Wood Plastic Composite Company Ltd, and Fiberon LLC, among others. They have examined the diverse threats, and emerging disruptive technologies to shape the supply and demand of the wood plastic composites market in the forthcoming years.
The emerging companies have identified raw material suppliers, buyers, research investors and distributors of the corn oil market. The competitors are profiling their business expansion strategies by incorporating merger & acquisition, collaborations, and joint ventures with the fellow contenders.
Fiberon LLC has a history of industry-leading innovation for manufacturing highly sustainable and efficient wood plastic composite (WPC) material. These were majorly adopted for the building customized baluster and railing systems.
Leading players of Wood Plastic Composites (WPC) including:
• Trex Company
• Advanced Environmental Recycling Technologies
• Tamko Building Products
• Axion International
• Fkur Kunststoff
• Josef Ehrler
• Universal Forest Products
Market split by Type, can be divided into:
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