The North America wood plastic composites market was valued at $736 million in 2016, and is projected to reach $1,876 million by 2023, registering a CAGR of 12.4% from 2017 to 2023. Wood plastic composites (WPCs) are made up of recycled plastic and wood wastes with beneficial features such as low melting temperature that results in lower energy costs for producers. This also reduces the impact of the product on the environment. These composites are growing at the highest rate among the plastic additives. These hybrid materials provide sustainability, longevity, and cost savings in a wide range of applications such as car speakers, interiors, home furniture, and kitchen accessories.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an in-depth analysis of the current trends, drivers, and dynamics of the North America wood plastic composites market to elucidate the prevailing opportunities and tap the investment pockets.
It offers qualitative trends and quantitative analyses of the industry from 2016 to 2023 to assist stakeholders to understand the market scenario.
In-depth analysis of the key segments demonstrates the market potential of the North America wood plastic composites industry.
Competitive intelligence of the industry highlights the business practices followed by key players across the region and prevailing market opportunities.
Key market players and their strategies & developments are profiled to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
By Type
PE-based Composites
PVC-based Composites
PP-based Composites
Others
By Application
Building & Construction
Automotive Components
Industrial & Consumer Products
Others
By Country
U.S.
Canada
Rest of North America
KEY BENEFITS FOR STAKEHOLDERS
The report provides an in-depth analysis of the current trends, drivers, and dynamics of the North America wood plastic composites market to elucidate the prevailing opportunities and tap the investment pockets.
It offers qualitative trends and quantitative analyses of the industry from 2016 to 2023 to assist stakeholders to understand the market scenario.
In-depth analysis of the key segments demonstrates the market potential of the North America wood plastic composites industry.
Competitive intelligence of the industry highlights the business practices followed by key players across the region and prevailing market opportunities.
Key market players and their strategies & developments are profiled to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
By Type
PE-based Composites
PVC-based Composites
PP-based Composites
Others
By Application
Building & Construction
Automotive Components
Industrial & Consumer Products
Others
By Country
U.S.
Canada
Rest of North America
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: NORTH AMERICA WOOD PLASTIC COMPOSITES MARKET, BY TYPE
CHAPTER 5: NORTH AMERICA WOOD PLASTIC COMPOSITES MARKET, BY APPLICATION
CHAPTER 6: NORTH AMERICA WOOD PLASTIC COMPOSITES MARKET, BY COUNTRY
CHAPTER 7: COMPANY PROFILES
Executive Summary
According to a new report titled, North America Wood Plastic Composites Market by Type, Application and Country: Opportunity Analysis and Industry Forecast, 2017-2023, the North America wood plastic composites was valued at $736 million in 2016, and is projected to reach at $1,876 million by 2023, registering a CAGR of 12.4% from 2017 to 2023.WPCs are composed of wood or wood flour, plastics, and additives. The source of the materials can be either virgin or recycled material. The demand for materials based on renewable raw materials has been on an increase in the recent years. Furthermore, increase in interest from governments about climate protection and sustainability result in the expansion of market size of natural-based materials, such as wood plastic composites (WPC).
Increase in availability of non-utilized plastic and wood wastes, demand from building & construction applications, and stringent regulations on the use of chemicals in building materials majorly boost the growth of the North America wood plastic composites market. However, surge in cost of raw materials and issues with respect to mechanical strength and/or weight hamper the market growth.
The building & construction segment accounted for more than three-fourths share of the North America market in 2016, in terms of volume, and is expected to maintain its dominance during the forecast period, owing to its improved performance and appearance characteristics. However, automotive components are expected to grow with a high rate due to rise in demand for recyclable and lightweight materials.
Based on country, the market is analyzed across U.S., Canada, and rest of North America. The U.S. generated the highest revenue in 2016, accounting for $517 million, owing to increased automotive production in the country.
Key findings of the North America Wood Plastic Composites Market:
U.S. is expected to continue to lead the market throughout 2016 to 2023, followed by Canada.
Canada is projected to register the highest growth rate from 2017 to 2023.
The PE-based composites segment contributed approximately 70% share of the market revenue in 2016.
The building & construction segment is projected to dominate the North America wood composites market.
Automotive components segment is projected to register the highest growth rate from 2016 to 2023.
The prominent players profiled in this report include Advanced Environmental Recycling Technologies Inc., Axion International Inc., Certainteed Corporation., Polymera Inc., Tamko Building Products Inc., TimberTech Ltd., Trex Company Inc., Green Matters Mexico, Wellington Polymer Technology Inc., and Shantex.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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