Wood Plastic Composite Market Size, Share & Trends Analysis Report by Type (PE, PP, PVC), by Application (Building & Construction,Automotive Components, Industrial and Consumer Goods), by Region, and Segment Forecasts, 2020 - 2027

The global wood plastic composite market size is expected to reach USD 12.5 billion by 2027, expanding at a revenue-based CAGR of 11.4%. Increasing demand for wood plastic composite in manufacturing noise barriers for street construction and sheet pilings for landscaping and garden furniture is expected to drive market growth.

Wood plastic composite has high durability, bending strength, shear strength, low moisture content, and low water absorption, as compared to conventional wood products. These properties have made it viable for use in railings, windows, doors, exterior siding, fencing, flooring, interior molding, and landscape materials.

Increasing infrastructural development activities, especially in the emerging economies such as China, India, Thailand, and Brazil coupled with the growing demand for aesthetically appealing furniture and flooring solutions across the globe has surged the demand for wood plastic composite in the construction industry in the recent times.

The rising demand for single-family rental homes is surging in the U.S. which has urged builders to focus on redesigning the models. Over 70% of the large urban regions saw a boost in infill housing development in 2018. This rise in infill development is projected to create opportunities for wood plastic composite manufacturers over the forecast period.

Further key findings from the report suggest:

• Polypropylene composites are expected to witness a CAGR of 11.8% from 2020 to 2027 in terms of revenue owing to its heavy use in the niche application segments such as water-resistant coatings on furniture and high temperature controllable wooden units
• The penetration of wood plastic composite in the automotive industry accounted for 15.9% of the global revenue in 2019 on account of its favorable properties such as lightweight, machinability, durability, and environmental friendliness
• The building and construction segment is expected to witness a revenue-based CAGR of 11.5% from 2020 to 2027 owing to rise in foreign investments coupled with changing consumer focus towards green buildings
• Asia Pacific accounted for 31.3% of the volume share in 2019 on account of the shift in consumer behavior, growing local competition, fragmented distribution, and rising dual income households
• Key players are adopting partnership strategies with companies in order to gain dominance in the wood plastic composite market which provides them a competitive advantage in terms of manufacturing sustainable products and use advanced technologies in the field.

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