According to the latest market research report by IMARC Group, titled “Wood-Plastic Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the wood-plastic composites market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global wood-plastic composites market size reached US$ 5.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.3 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.
Wood-Plastic Composites Market Overview:
Wood Plastic Composites (WPC) are composite materials made from a mixture of wood fibers or flour and thermoplastics, and are considered as a sustainable building material. They are engineered to possess the look and feel of wood while possessing the durability and low maintenance of plastic. WPCs are primarily built by using a combination of wood fibers or flour and thermoplastics, including polyethylene, polypropylene, and polyvinyl chloride. WPCs are characterized by moderate to high density, reduced moisture absorption compared to natural wood, and enhanced slip resistance through additives or surface treatments.
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Global Wood-Plastic Composites Market Trends:
The global market is primarily driven by the augmenting demand for eco-friendly composite materials due to an enhanced focus on sustainability. This can be attributed to the implementation of waste reduction and recycling initiatives by government bodies of several countries. In line with this, the rapid expansion of the construction sector, particularly in emerging economies, is propelling the demand for WPC materials. Moreover, the escalating demand for weight reduction in the automotive and aerospace industry is resulting in a higher uptake of lightweight and durable component material, which in turn is creating a positive market outlook. Some of the other factors contributing to the market include rapid urbanization, emerging trend of creating attractive and functional outdoor living spaces, and continual innovations in extrusion, co-extrusion, and injection molding techniques.
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Key Market Segmentation:
Top Wood-Plastic Composites Manufacturers Worldwide:
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