Bharat Book Bureau Provides the Trending Market Research Report on “Global Wood Plastic Composites Market 2022-2028”under Chemical & Materials Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market Reports.
The Global Wood Plastic Composites Market is estimated to register growth at a CAGR of 9.16% and 7.72% in value and volume, respectively, over the period of 2022-2028.
The growing demand from the building and construction industry, increasing demand for recyclable materials in the automotive industry, and the ban on arsenic toxins are supporting the overall development of the wood plastic composites market significantly.
Additionally, the environmental concerns and surge in demand for PVC-capped decking products are opening new avenues for the studied market. However, performance limitations and lowering the weight of WPC products hamper the market’s growth.
The global wood plastic composites market covers North America, Asia-Pacific, Latin America, Europe, Middle East and Africa regions.
Globally, the Asia-Pacific is expected to emerge as the fastest-growing region in the wood plastic composites market. China held the largest share in the market in 2020. Wood plastic composite materials are widely used to increase the durability and shelf life of various products, owing to the rise in the manufacturing sector in China. Further, the growing demand for India and Japan due to the rising use of outdoor applications also supports the development of the wood plastic composites market across the region.
The leading firms in the wood plastic composites market are Fiberon LLC, Jelu Werk Josef Ehrler GmbH and Co KG, Moistureshield, Tamko Building Products Inc, Trex Company Inc, Certainteed Corporation, UPM, Axion International Inc, Beologic NV, Fkur Kunststoff GmbH, Polyplank AB, Universal Forest Products Inc, and Timbertech Limited.
UPM is building a sustainable future across multiple business areas, including biorefining, energy, specialty papers, and plywood. The products are formed out of renewable raw materials and are recyclable. Its products are served to various end-user industries globally. Moreover, the company’s ProFi segment is well-known for its advanced wood plastic and composites products.
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