Dublin, Feb. 08, 2024 (GLOBE NEWSWIRE) -- The "Global Wood-plastic Composites Market by Type (Polyethylene, Polyvinylchloride, Propylene), Application (Building & Construction Products, Automotive Components, Industrial & Consumer Goods), & Region (North America, Europe, APAC, MEA) - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global wood-plastic composites market is projected to grow from USD 7.5 billion in 2023 to USD 11.9 billion by 2028, at a CAGR of 9.8%
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall wood-plastic composites market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
Polypropylene with higher MFR fills the plastic mold more easily, during the injection or blow-molding production process. However, as the melt flow increases, some physical properties, such as impact strength, decrease. Polyethylene is classified into several different categories based mostly on density and branching. The mechanical properties of polypropylene depend significantly on variables, such as the extent and type of branching, the crystal structure, and the molecular weight.
Prominent companies include Trex Company, Inc., (US), MoistureShield (US), UFP Industries, Inc. (US), Fiberon (US), TimberTech (US), TAMKO Building Products LLC (US), Beologic (Belgium), FKuR Kunstsoff GmbH (Germany), JELU-WERK J. Ehrler GmbH & Co. KG (Germany), and Green Dot Bioplastics, Inc. (US)., among others.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
In terms of value, automotive components application accounted for the second-largest share of the overall wood-plastic composites market
Increasing awareness about environment-friendly products is boosting the demand of wood-plastic composites from automotive industry. Automobile manufacturers are focusing on the production of biodegradable or recyclable components. Recyclable wood-plastic composites help to enhance the mechanical strength and reduces the material weight that helps to improve fuel consumption and production cost of the automobiles.
Wood-plastic composites gets widely used to manufacture interior parts as they helps to improve passenger safety along with biodegradability of the components. During the forecast period, the wood-plastic composites market in Asia Pacific region is projected to register highest CAGR.
Asia Pacific is projected to be the fastest-growing region the wood-plastic composites market
The market in Asia Pacific region has been undergoing a significant transformation and growth due to the wide presence of well-established material suppliers, component and composites manufacturers, and many OEMs. The ecosystems of adjacent industries are fueling the of the growth of the wood-plastic composites market.
Ongoing rapid economic growth of Asian countries, growing urbanization and industrialization, improvement in per capita income, and rising consumer spendings have raised the technological advancements, fueling the growth of the wood-plastic composites market.
The report provides insights on the following pointers:
- Analysis of key drivers (Increasing adoption in automotive components application, recyclability, and favourable government regulations regarding the use of environmentally-friendly products), restraints (Fluctuating raw material costs, rigidity issues and impact under heavy loads), opportunities (Increasing market penetration into automotive components, High volume production of automotive components), and challenges (Dominance of carbon fiber and glass fiber into composites industry, Life-cycle improvements) influencing the growth of the wood-plastic composites market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the wood-plastic composites market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the wood-plastic composites market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the wood-plastic composites market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 212 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $7.5 Billion |
| Forecasted Market Value (USD) by 2028 | $11.9 Billion |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | Global |
Company Profiles
- AVS Industries (Ado Woods)
- Beologic
- Deceuninck
- Ecoste
- Fiberon
- Fkur Kunststoff GmbH
- Green Dot Bioplastics, Inc.
- Guangzhou Kindwood Co., Ltd.
- Hosung Wpc Composite
- Jelu-Werk J. Ehrler GmbH & Co. Kg
- JKD Plastics
- Linyi Yansen International Trade Co., Ltd.
- Moistureshield
- Oldcastle Apg a Crh Company
- Perth Wood-Plastic Composite Co., Ltd.
- Resysta International
- Shanghai Seven Trust Industry Co., Ltd.
- Sinofibers Technology Co., Ltd.
- Tamko Building Products LLC
- Tecnodeck
- Timbertech
- Trex Company, Inc.
- TVL Engineers Pvt., Ltd.
- UFP Industries, Inc.
- Woodalt
For more information about this report visit https://www.researchandmarkets.com/r/wo3cqv
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