Wood Plastic Composites Market Share and Growth by Business Development 2019 to 2027
Seattle, WA -- (SBWIRE) -- 11/20/2019 -- Wood Plastic Composites Market Overview:
Wood plastic composites (WPC) are compounds comprising recycled plastic and wood wastes with beneficial features such as reduced melting temperature resulting in lower energy costs for producers and further reducing the product's environmental impact. These composites are growing at the highest rate among the plastic additives. Innovative uses for wood-based composites are constantly accomplished. These hybrid materials provide sustainability, longevity, and cost savings in a wide array of applications such as car speakers, interiors, home furniture, and kitchen accessories.
The global wood plastic composites market is driven by high availability of non-utilized plastic and wood wastes, increase in demand from building & construction applications, and stringent regulations on the use of chemicals in building materials. Conversely, increase in implementation of biodegradable raw materials is expected to create opportunities in the global WPC market.
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Wood Plastic Composites Market Segmentation:
The global wood plastic composites market is segmented based on type, application, and geography. Based on type, it is categorized into PE-based composites, PVC-based composites, PP-based composites, and others. Based on application, it is divided into building & construction, automotive components, industrial & consumer products, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Wood Plastic Composites Market Analysis:
Asia-Pacific possesses maximum potential for growth in the global wood plastic composites market, on account of the high demand from the automotive & construction sector. The European countries, such as Germany, UK, and France, are expected to witness high demand for wood plastic composites, owing to stringent regulations in environmental compliance assessment (ECA) for automotive components.
Wood Plastic Composites Market Key Segments:
Building & Construction
Industrial & Consumer Products
Wood Plastic Composites Market Top Key Players:
Axion International, Inc., Beologic N.V., Certainteed Corporation, Fiberon, LLC., Fkur Kunststoff GmbH, Polymera, Inc., Tamko Building Products, Inc., Timbertech Ltd., and Trex Company, Inc., CPG International LLC., Findock International Inc., Guangzhou Kindwood Co. Ltd., Josef Ehrler GmbH & Co. Kg, North Wood Plastics Inc., Polyplank AB, OnSpec Composites Inc., and Plygem Holdings Inc.
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