Fairfield Market Research Wood Plastic Composites Market Scope, Size, Share, 2023-2030

Wood Plastic Composites Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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The global wood plastic composites market size was approximately US$5 Bn in 2022 and is likely to expand at a robust CAGR through 2030 end.

Market Analysis in Brief

Growing inclination towards use of eco-friendly material across industrial applications has prevailed owing to rising concerns regarding environment health. In this background, stringent norms laid by authorities apropos to use of sustainable green material has triggered the use of wood plastic composites (WPC). Using wood plastic composites, high durability can be achieved without use of toxic material. Moreover, plant based material are highly biodegradable, have high strength and stiffness quotients, low density, have low carbon emissions, are renewable and cost efficient. This has fuelled their use in plastic reinforcement. This aspect continues to influence the performance of the wood plastic composites market on the global front.

Key Report Findings

  • The wood plastic composites market revenue was recorded to be nearly US$5 Bn in 2022
  • Packaging industry’s accelerating journey toward a sustainable future will bode well for market expansion
  • Polyethylene-based composites continue to be the sought-after category
  • North America contributes the largest revenue share to wood plastic composites industry

Growth Drivers

Desirable Attributes, and Environmentally Sustainable Profile

Owing to their sustainable green functional features apart from durability and strength, wood plastic composites are being eyed upon by several automotive OEMs. In wale of reducing emissions from vehicles alongside enhancing vehicle performance, manufacturers are focusing on innovating and adopting green and sustainable composites for automotive components.

Wood plastic composites can impart high mechanical strength, reduce material weight, enhance acoustic performance, reduce cost of production, lower fuel consumption and improve overall vehicle performance. That said, demand for wood plastic composites in applications on the back of their environment friendly characteristics is expected to complement the growth of wood plastic composites market.

Overview of Key Segments

Polyethylene-based Composites Favored

Wood plastic composites made from polyethylene are likely to witness high demand in the coming years. Polyethylene, being a subject of interest from both technological, and academic standpoints has gained significant traction owing to its processability, versatility and mechanical properties.

Given its special molecular arrangement and molecular structure, polyethylene based wood plastic composites can be moulded as per need and can provide fine polishing, and rich look. This feature has fuelled their adoption in applications such as flooring, moulding strips, hollow boards, furniture material, and wall cladding. This aspect has driven sales of polyethylene-based composites, in turn significantly contributing towards value growth of the wood plastic composites market.

Growth Opportunities Across Regions

North America Retains Lead

Developed nations in North America such as United States and Canada are expected to reflect significant growth with respect to adoption of wood plastic composites. This is mainly owing to growing use of wood plastic composites in the manufacturing of porches, window frames, and docks and other decking applications. Moreover, increasing demand for bioplastics in applications such as street construction, and landscaping is expected to further bolster growth of the wood plastic composites market in the region.

In addition, presence of major players involved in the manufacturing and distribution of wood plastic composites is likely to create an impact on the market in North America. Factors such as stable economic growth, favourable government incentives and inclination towards use of environment-friendly solutions and products continue to influence demand, consequently complementing value growth of the use of clean renewable sources market in North America. This in turn boosts revenue growth of the region’s wood plastic composites market.

Asia Pacific Grows Lucrative

Alternatively, emerging economies such as China, and India are expected to showcase high market lucrativeness. Momentous growth in the construction sector on the back of increasing urbanisation has remained instrumental in driving use of clean renewable sources market growth in Asia Pacific. From a functional standpoint, wood plastic composites are highly heat, rot, and moisture resistant. These functional features have propelled their use in areas such as construction of buildings owing to their long lasting aesthetics as compared to conventional wood.

Moreover, use of wood plastic composites in the automotive sector to manufacture components is expected to further accelerate market growth. Wood plastic composites when integrated with automotive components, can significantly reduce vehicle weight, in turn enhancing vehicle performance and fuel efficiency. This factor coupled with growing automotive sector is likely to pave new avenues for wood plastic composites market in Asia Pacific.

Wood Plastic Composites Market: Competitive Landscape

Major players in the wood plastic composites market are involved in new product development, innovations, and capacity expansions to maintain their market position.

For instance, in 2021, Teknor Apex Co launched highly weatherable compound for outer layers of WPC (wood plastic composites) decking. This compound offers superior performance, appearance, long service life and low maintenance. Same year, in May, researchers from KTH Royal Institute of Technology developed transparent wood plastic composites featuring 100% renewability by using limonene acrylate. This composite provides enhanced optical transmittance and can be used in structural applications owing to its physiochemical properties.

Key Players

A few of the major players in global wood plastic composites market include TIMBERTECH Ltd., Universal Forest Products Inc., Trex Company, Renolit SE, BEOLOGIC N.V, DOW, UFP Industries Inc., Seven Trust, Axion International Inc., and Croda International Plc.

Regional Classification of the Global Wood Plastic Composites Market is Described Below:

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • Spain
  • U.K.
  • Italy
  • Russia
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East and Africa

  • GCC
  • South Africa
  • Rest of Middle East and Africa

*Regions and countries are subject to change based on data availability

Key Elements Included In The Study: Global Wood Plastic Composites Market

  • Wood Plastic Composites Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2022
  • Volume Consumption at Regional and Country Level, 2023 - 2030
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2023 - 2030
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Production Output Analysis (Major Producing Regions)
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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1. Executive Summary
     1.1. Global Wood Plastic Composite Market Snapshot
     1.2. Key Market Trends
     1.3. Future Projections
     1.4. Analyst Recommendations

2. Market Overview
     2.1. Market Definitions and Segmentations
     2.2. Market Dynamics
            2.2.1. Drivers
                  2.2.1.1. Driver A
                  2.2.1.2. Driver B
                  2.2.1.3. Driver C
            2.2.2. Restraints
                  2.2.2.1. Restraint 1
                  2.2.2.2. Restraint 2
            2.2.3. Market Opportunities Matrix
     2.3. Value Chain Analysis
     2.4. Porter’s Five Forces Analysis
     2.5. Covid-19 Impact Analysis
            2.5.1. Pre-covid and Post-covid Scenario
            2.5.2. Supply Impact
            2.5.3. Demand Impact
     2.6. Government Regulations
     2.7. Technology Landscape
     2.8. Economic Analysis
     2.9. PESTLE

3. Production Output, 2018 - 2022
     3.1. Regional Production Statistics
            3.1.1. North America
            3.1.2. Europe
            3.1.3. Asia Pacific
            3.1.4. Latin America
            3.1.5. Middle East & Africa

4. Price Trends Analysis and Future Projects, 2018 - 2030
     4.1. Key Highlights
     4.2. Prominent Factors Affecting Prices
     4.3. By Product
     4.4. By Region

5. Global Wood Plastic Composite Market Outlook, 2018 - 2030
     5.1. Global Wood Plastic Composite Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            5.1.1. Key Highlights
                  5.1.1.1. Polyethylene (PE)
                  5.1.1.2. Polyvinylchloride (PVC)
                  5.1.1.3. Polypropylene (PP)
                  5.1.1.4. Polystyrene (PS)
                  5.1.1.5. Misc.
     5.2. Global Wood Plastic Composite Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            5.2.1. Key Highlights
                  5.2.1.1. Construction
                        5.2.1.1.1. Decking
                        5.2.1.1.2. Fencing
                        5.2.1.1.3. Molding & Siding
                  5.2.1.2. Automotive
                  5.2.1.3. Furniture
                  5.2.1.4. Consumer Goods
                  5.2.1.5. Misc.
     5.3. Global Wood Plastic Composite Market Outlook, by Region, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            5.3.1. Key Highlights
                  5.3.1.1. North America
                  5.3.1.2. Europe
                  5.3.1.3. Asia Pacific
                  5.3.1.4. Latin America
                  5.3.1.5. Middle East & Africa
            5.3.2. BPS Analysis/Market Attractiveness Analysis

6. North America Wood Plastic Composite Market Outlook, 2018 - 2030
     6.1. North America Wood Plastic Composite Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            6.1.1. Key Highlights
                  6.1.1.1. Polyethylene (PE)
                  6.1.1.2. Polyvinylchloride (PVC)
                  6.1.1.3. Polypropylene (PP)
                  6.1.1.4. Polystyrene (PS)
                  6.1.1.5. Misc.
     6.2. North America Wood Plastic Composite Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            6.2.1. Key Highlights
                  6.2.1.1. Construction
                        6.2.1.1.1. Decking
                        6.2.1.1.2. Fencing
                        6.2.1.1.3. Molding & Siding
                  6.2.1.2. Automotive
                  6.2.1.3. Furniture
                  6.2.1.4. Consumer Goods
                  6.2.1.5. Misc.
     6.3. North America Wood Plastic Composite Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            6.3.1. Key Highlights
                  6.3.1.1. U.S.
                  6.3.1.2. Canada
            6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Wood Plastic Composite Market Outlook, 2018 - 2030
     7.1. Europe Wood Plastic Composite Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            7.1.1. Key Highlights
                  7.1.1.1. Polyethylene (PE)
                  7.1.1.2. Polyvinylchloride (PVC)
                  7.1.1.3. Polypropylene (PP)
                  7.1.1.4. Polystyrene (PS)
                  7.1.1.5. Misc.
     7.2. Europe Wood Plastic Composite Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            7.2.1. Key Highlights
                  7.2.1.1. Construction
                        7.2.1.1.1. Decking
                        7.2.1.1.2. Fencing
                        7.2.1.1.3. Molding & Siding
                  7.2.1.2. Automotive
                  7.2.1.3. Furniture
                  7.2.1.4. Consumer Goods
                  7.2.1.5. Misc.
     7.3. Europe Wood Plastic Composite Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            7.3.1. Key Highlights
                  7.3.1.1. Germany
                  7.3.1.2. France
                  7.3.1.3. U.K.
                  7.3.1.4. Italy
                  7.3.1.5. Spain
                  7.3.1.6. Russia
                  7.3.1.7. Rest of Europe
            7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Wood Plastic Composite Market Outlook, 2018 - 2030
     8.1. Asia Pacific Wood Plastic Composite Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            8.1.1. Key Highlights
                  8.1.1.1. Polyethylene (PE)
                  8.1.1.2. Polyvinylchloride (PVC)
                  8.1.1.3. Polypropylene (PP)
                  8.1.1.4. Polystyrene (PS)
                  8.1.1.5. Misc.
     8.2. Asia Pacific Wood Plastic Composite Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            8.2.1. Key Highlights
                  8.2.1.1. Construction
                        8.2.1.1.1. Decking
                        8.2.1.1.2. Fencing
                        8.2.1.1.3. Molding & Siding
                  8.2.1.2. Automotive
                  8.2.1.3. Furniture
                  8.2.1.4. Consumer Goods
                  8.2.1.5. Misc.
     8.3. Asia Pacific Wood Plastic Composite Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            8.3.1. Key Highlights
                  8.3.1.1. China
                  8.3.1.2. Japan
                  8.3.1.3. South Korea
                  8.3.1.4. India
                  8.3.1.5. Southeast Asia
                  8.3.1.6. Rest of Asia Pacific
            8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Latin America Wood Plastic Composite Market Outlook, 2018 - 2030
     9.1. Latin America Wood Plastic Composite Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            9.1.1. Key Highlights
                  9.1.1.1. Polyethylene (PE)
                  9.1.1.2. Polyvinylchloride (PVC)
                  9.1.1.3. Polypropylene (PP)
                  9.1.1.4. Polystyrene (PS)
                  9.1.1.5. Misc.
     9.2. Latin America Wood Plastic Composite Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            9.2.1. Key Highlights
                  9.2.1.1. Construction
                        9.2.1.1.1. Decking
                        9.2.1.1.2. Fencing
                        9.2.1.1.3. Molding & Siding
                  9.2.1.2. Automotive
                  9.2.1.3. Furniture
                  9.2.1.4. Consumer Goods
                  9.2.1.5. Misc.
     9.3. Latin America Wood Plastic Composite Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            9.3.1. Key Highlights
                  9.3.1.1. Brazil
                  9.3.1.2. Mexico
                  9.3.1.3. Rest of Latin America
            9.3.2. BPS Analysis/Market Attractiveness Analysis

10. Middle East & Africa Wood Plastic Composite Market Outlook, 2018 - 2030
     10.1. Middle East & Africa Wood Plastic Composite Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            10.1.1. Key Highlights
                  10.1.1.1. Polyethylene (PE)
                  10.1.1.2. Polyvinylchloride (PVC)
                  10.1.1.3. Polypropylene (PP)
                  10.1.1.4. Polystyrene (PS)
                  10.1.1.5. Misc.
     10.2. Middle East & Africa Wood Plastic Composite Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            10.2.1. Key Highlights
                  10.2.1.1. Construction
                        10.2.1.1.1. Decking
                        10.2.1.1.2. Fencing
                        10.2.1.1.3. Molding & Siding
                  10.2.1.2. Automotive
                  10.2.1.3. Furniture
                  10.2.1.4. Consumer Goods
                  10.2.1.5. Misc.
     10.3. Middle East & Africa Wood Plastic Composite Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
            10.3.1. Key Highlights
                  10.3.1.1. GCC
                  10.3.1.2. South Africa
                  10.3.1.3. Rest of Middle East & Africa
            10.3.2. BPS Analysis/Market Attractiveness Analysis

11. Competitive Landscape
     11.1. Company Market Share Analysis, 2022
     11.2. Competitive Dashboard
     11.3. Company Profiles
            11.3.1. Trex Company, Inc.
                  11.3.1.1. Company Overview
                  11.3.1.2. Product Portfolio
                  11.3.1.3. Financial Overview
                  11.3.1.4. Business Strategies and Development
(*Note: Above details would be available for below list of companies based on availability)
            11.3.2. The AZEK Company Inc.
            11.3.3. Fiberon, LLC
            11.3.4. CRH Americas
            11.3.5. Beologic N.V.
            11.3.6. FKuR Kunststoff GmbH
            11.3.7. Hosung
            11.3.8. Renolit SE
            11.3.9. PolyPlank AB
            11.3.10. Forestar
            11.3.11. Sundi WPC
            11.3.12. JELU-WERK J. Ehrler GmbH & Co. KG

12. Appendix
     12.1. Research Methodology
     12.2. Report Assumptions
     12.3. Acronyms and Abbreviations

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

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