Global Wood-Plastic Composites Market expected to show steady growth by 2020
Zion Market Research has published a new report titled “Wood-Plastic Composites (Polyethylene, Polypropylene, Polyvinyl Chloride, and Others) Market for Building & Construction, Automotive, Electrical, and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.” According to the report, global demand for wood-plastic composites was valued at USD 3.3 billion in 2014, and is expected to reach USD 6.0 billion in 2020, growing at a CAGR of around 10.5% between 2015 and 2020. In terms of volume, the global wood-plastic composites market stood at 3,000.0 kilo tons in 2014.
Wood fiber or flour and thermoplastics such as polypropylene, polyethylene and polyvinyl chloride are the key raw materials used in the manufacturing of wood-plastic composites (WPC). WPCs are sub-sets of a bigger class of natural fiber plastic composites (NFPCs). These composites are produced by mixing ground wood particles and heated thermoplastic resins. The most common WPCs product production process is to extrude the material into the desired shape by way of injection molding. WPCs can be manufactured with either virgin or recycled thermoplastic resins. Being water, weather and mould resistant, this material can be used for various outdoor applications; whereas untreated or chemically treated timber products are not as suited to weather ability as WPC products. In addition, WPCs are wood and plastic products that offer exceptional environmental credential and performance.
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The wood-plastic composite market is mainly driven by the growing building & construction market across the world. Wood-plastic composites are primarily used for decking, fencing, molding and windows. Automotive industry is another important outlet for wood-plastic composites market. Rising demand for light weight vehicles has been resulted into growing usage of wood-plastic composites in different applications in automotive industry. Wood-plastic composites are widely used in manufacturing of various automotive components like dashboard, back rests, interior liners and internal trim of door panels. Use of wood-plastic composites in the manufacturing of components helps reducing wirght of components and in tune reduces the overall weight of a vehicle increasing its fuel efficiency.
The polyethylene product segment held the largest share in the global wood-plastic composite market and accounted over 60% of the total volume consumed in 2014. Whereas, the polyvinyl chloride composites are expected to be the fastest growing product segment of the wood-plastic composites market during the forecast period. Building & construction was dominating the application segment of the wood-plastic composites market and accounted for largest share of the market in 2014. Automotive was the second largest market with over 20% share of the total wood-plastic composites volume consumed in 2014.
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WPCs are used for manufacturing automobile components such as internal trim for door panels, dashboards, luggage racks, seat cushions, backrests and other interior liners. Usage of WPCs reduces the overall weight of automobiles, which also enhances fuel efficiency, and it also ensures compliance with environmental regulations due to reduced carbon emissions. Automotive is also expected be the fastest growing application market fo wood-plastic composites in the next five years.
North America was the leading regional market for wood-plastic composites in 2014. Europe was the second largest market with around 17% share in total volume consumption in 2014. However, demand for wood-plastic composites in Asia Pacific is expected to exhibit robust growth owing to booming construction and automotive industry in the region.
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The global wood-plastic composites market is highly scattered in nature. The key players in the wood-plastic composites market include Trex Company Inc., Fiberon LLC., CPG International, Advanced Environmental Recycling Technologies (AERT), Timber Tech, and Fineko. Other prominent vendors in the market include American Wood Fibers, AMSCO Windows, Artowood Thailand, B&F Plastics. Beologic, CertainTeed, Crane Plastics, Deceuninck, Findock, FKuR Kunststoff, Guangzhou Kindwood, Josef Ehrler, Louisiana-Pacific, North Wood Plastics, OnSpec Composites, Perth Wood Plastic Composite, Plygem Holdings, Polymera, Polyplank, Solvay, Strandex, Tamko Building Products, Technaro, UPM-Kymmene, and WPC.
This report segments the global wood-plastic composites market as follows:
Wood-Plastic Composites Market: Product Segment Analysis
- Polyvinyl chloride
- Others (ABS, polystyrene and polylactide)
Wood-Plastic Composites Market: Application Analysis
- Building & construction
- Others (Toys, trays, musical instruments, shoe soles, etc.)
Wood-Plastic Composites Market: Regional Analysis
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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