Wood Plastic Composite Floorings Global Market Report 2024

The wood plastic composite floorings market size has grown strongly in recent years. It will grow from $2.4 billion in 2023 to $2.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth observed in the historical period can be attributed to the growth of the construction and furniture industry, increased construction activities in various regions, rising investments in the global construction industry, emphasis on effective pricing strategies by manufacturers, and increased disposable income among consumers.

The wood plastic composite floorings market size is expected to see strong growth in the next few years. It will grow to $3.4 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The anticipated growth in the forecast period can be attributed to the rising demand for affordable and durable flooring solutions, growing awareness about the benefits of wood-plastic composite floorings, a burgeoning residential sector, increasing urbanization, and a growing global population. Key trends expected in the forecast period include a shift towards eco-friendly and sustainable flooring solutions, technological advancements in the manufacturing of wood-plastic composite flooring, product customization, and innovative product launches within the industry.

The wood-plastic composite flooring market is anticipated to experience growth, driven by the expanding construction industry. Construction involves the creation of structures such as homes, factories, highways, and bridges. Wood-plastic composite flooring, known for its durability and versatility, is utilized in both residential and commercial construction projects. For instance, as of November 2021, the Office for National Statistics reported a 15.3% increase, reaching $119,750 million in the value of new construction work in Great Britain from $103,815 million in 2020. This underscores how the thriving construction industry is a catalyst for the wood-plastic composite flooring market's growth.

The growth of the wood-plastic composite floorings market is expected to be fueled by the ongoing process of urbanization. Urbanization involves the migration of populations from rural to urban or metropolitan areas, resulting in the expansion and development of cities. The demand for housing and commercial spaces rises with urbanization and population growth in different regions. Wood-plastic composite flooring becomes integral to urbanization by providing a sustainable, aesthetically pleasing, and durable flooring solution for both residential and commercial spaces. For instance, The World Bank reported in April 2023 that approximately 56% of the global population resides in urban areas, and the global urban population is projected to grow by 1.5 times, reaching 6 billion by 2045. Consequently, the increasing trend of urbanization is propelling the wood-plastic composite floorings market.

A notable trend in the wood-plastic composite floorings market is the emphasis on product innovations by major industry players. Companies are adopting innovative products to maintain their market positions. For example, in September 2021, Cali Bamboo LLC introduced Legends, a thicker vinyl plank offering a real-looking and comfortable flooring solution. Legends, with its robust WPC core and half-inch thickness, is 100% waterproof, click-locks for easy installation, and features a 20-mil pet-friendly wear layer for improved scratch resistance. Moreover, Legends holds FloorScore certification for indoor air quality and comes with a 50-year home guarantee.

Major players in the wood-plastic composite floorings market are focusing on developing innovative solutions such as realistic woodgrain decking. Realistic woodgrain decking replicates the natural appearance of wood grain through advanced manufacturing techniques. For instance, in February 2023, Trex Company, Inc. launched ‘Trex Signature’ premium decking, skillfully designed to capture the authentic look of interior hardwoods while being engineered to withstand outdoor elements. Trex Signature introduces a new level of realism for wood-plastic composites, blending natural beauty with outdoor durability.

In June 2021, Victoria PLC acquired Cali Bamboo, LLC, marking a strategic move to expand distribution in the United States. This acquisition enables Victoria to leverage CALI's lucrative direct-sales channel while extending current business alliances and B2B relationships. Cali Bamboo, LLC is known for creating and distributing flooring, decking, and other premium products that offer environmentally conscious alternatives to conventional materials.

Major companies operating in the wood plastic composite floorings market report are Shenzhen GEM HI-TECH Co., Trex Company Inc., LL Flooring Holdings, Mannington Mills Inc., Armstrong Flooring Inc., Spectra Contract Flooring, Cali Bamboo LLC, Dalton Carpet One, 50 Floor, US Floors LLC, MP Global Products LLC, TimberTech, Spartan Surfaces, C-K Composites Co. LLC, ARCAT Inc., Homecrest Outdoor Living, Republic Floor LLC, Parterre Flooring and Surface Systems LLC, Parterre Flooring Systems, Anhui Sentai WPC Group, Shaw Contract Flooring Services Inc., Floor & Decor Holdings Inc., NewTechWood America Inc., Slaughterbeck Floors Inc., Deckorators Inc.

North America was the largest region in the wood plastic composite floorings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wood plastic composite floorings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wood plastic composite floorings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The main types of wood-plastic composite floorings include polyethylene, polyvinyl chloride, polypropylene, and others. Polyethylene is a type of plastic used to make thin sheets or bags, commonly employed for keeping food or other items dry. These floorings come in various thicknesses such as 4 mm, 5 mm, 5.5 mm, 6.5 mm, and above 8 mm, catering to applications in commercial buildings, residential buildings, retail outlets, and other settings.

The wood plastic composite floorings market research report is one of a series of new reports that provides wood plastic composite floorings market statistics, including wood plastic composite floorings industry global market size, regional shares, competitors with a wood plastic composite floorings market share, detailed wood plastic composite floorings market segments, market trends and opportunities, and any further data you may need to thrive in the wood plastic composite floorings industry. This wood plastic composite floorings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The wood-plastic composite flooring market consists of sales of wood-plastic composite flooring planks and tiles. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.