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Wood Plastic Composites - Global Strategic Business Report

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    Report

  • 467 Pages
  • February 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5141477

Global Wood Plastic Composites Market to Reach $12.6 Billion by 2030

The global market for Wood Plastic Composites estimated at US$5.6 Billion in the year 2022, is projected to reach a revised size of US$12.6 Billion by 2030, growing at a CAGR of 10.6% over the analysis period 2022-2030. Polyethylene, one of the segments analyzed in the report, is projected to record 11.4% CAGR and reach US$8.1 Billion by the end of the analysis period. Growth in the Polypropylene segment is estimated at 10.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 15.1% CAGR

The Wood Plastic Composites market in the U.S. is estimated at US$1.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2030 trailing a CAGR of 15.1% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.3% and 8.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR.

Select Competitors (Total 123 Featured)

  • AIMPLAS Instituto Tecnológico del Plástico
  • AXION STRUCTURAL INNOVATIONS LLC
  • CertainTeed Corporation
  • Dow
  • Fiberon LLC
  • FKuR Kunststoff GmbH
  • JELU-WERK J. Ehrler GmbH & Co. KG
  • NewTechWood Company Limited
  • Oldcastle APG, Inc.
  • Renolit SE
  • TimberTech by AZEK Building Products
  • Trex Company, Inc.
  • UFP Industries, Inc.

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Wood Plastic Composites Market

What is the estimated value of the Wood Plastic Composites Market?

The Wood Plastic Composites Market was estimated to be valued at $5.6 Billion in 2022.

What is the growth rate of the Wood Plastic Composites Market?

The growth rate of the Wood Plastic Composites Market is 10.7%, with an estimated value of $12.6 Billion by 2030.

What is the forecasted size of the Wood Plastic Composites Market?

The Wood Plastic Composites Market is estimated to be worth $12.6 Billion by 2030.

Who are the key companies in the Wood Plastic Composites Market?

Key companies in the Wood Plastic Composites Market include AIMPLAS Instituto Tecnológico del Plástico, AXION STRUCTURAL INNOVATIONS LLC, CertainTeed Corporation, Dow, Fiberon LLC, FKuR Kunststoff GmbH, JELU, WERK J. Ehrler GmbH & Co. KG, NewTechWood Company Limited and Oldcastle APG, Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • An Introduction to Wood Plastic Composites (WPC)
  • Development of WPCs: A Historical Perspective
  • Manufacturing Wood Composite Plastics
  • Raw Materials for Making WPC
  • Major Applications of WPCs
  • Global Economic Update
  • From Pandemic to War & Inflation: “Subdued Outlook for 2023 Despite Signs of Easing Inflationary Conditions”
  • Here’s How Inflationary Pressures Affect the Economy
  • Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
  • Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected Problem to Solve in 2023: Global Inflation Rates (In %) for the Years 2019 Through 2024
  • Global Economy Faces a Tough Climb Towards Recovery Made Rockier by the War, Anti-Inflation Fiscal Policies & Slower Than Desirable Easing of Inflationary Pressures: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
  • Recession Triggered by Uncontrolled Inflation or Unemployment, Which is the Greater Evil? Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2023
  • COVID-19-Led Economic Downturn Weighs on Construction Sector, Affecting Wood Plastic Composites Market
  • Global Construction Growth Contribution by Country for the Period 2020-2030
  • Global Market Outlook
  • Polyethylene: The Widely Used Material
  • Building & Construction Dominates the WPC Market
  • Developed Regions Lead WPC Market
  • Competition
  • Wood Plastic Composites - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Wood Plastic Composites Market: Trends Creating Ideal Roadmap for Tomorrow
  • Versatile Nature of WPCs Benefits Market Growth
  • Building & Construction Application to Spur Demand for Wood Plastic Composites
  • Trends in the Construction Industry Influence Market Uptake
  • Increased Activities of Remodeling and Renovation to Propel the Growth
  • Global Remodeling Market (in US$ Trillion) for the Years 2017, 2019, 2021, 2023 and 2025
  • Rising Lumber Prices Increases Popularity of Wood Composite Decking
  • Composite Decking as a Good Alternative to Wooden Decks
  • Home Improvement Projects & Interest in DIY Stimulate Composite Decking Demand amid COVID-19
  • Serious Efforts by Composite Vendors to Push Share
  • Technological Advancements Augment Functional and Design Attributes
  • Consumer Focus on Eco-Friendly Fencing Options Propel Demand for WPC Fencing Products
  • Plastic Fencing Market by Material (in %) for 2023E
  • Rapid Urbanization and Focus on Environmental Conservation Provides Opportunities for WPCs Market
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, and 2100
  • World Urban Population in Million: 1950-2050P
  • Wood Plastic Composites (WPC) Emerge as Ideal Green Building Materials
  • Shift towards Green Buildings Presents Opportunities for WPCs Market: Global Green Buildings Market (in US$ Billion) for the Years 2020, 2022, 2024 and 2026
  • Furniture Industry Holds Promise for Wood Plastic Composite Materials
  • Wood Plastic Composite Floorings Market: A Glance at Drivers Setting Perfect Stage for Expansion
  • Rising Emphasis on Using Recyclable Materials in Automotive Industry Bodes Well for the Market
  • Global Automotive Market: % YoY Growth for the Years 2015-2022
  • Innovations in Wood-Based Composites: Promoting Sustainable Future
  • Advancements in Wood Composites: A Review
  • New Wood Plastic Composite (WPC) Material Holds Promise
  • Researchers Improve WPCs with Graphene
  • Manufacturing of Lightweight Wood Plastic Composites
  • Challenges of Using Fiber Supplements
  • Environmental Impact of Recycled Plastic Usage in WPC
  • Implementation of Fire Retardants in WPC
  • Particle Size Plays a Vital Role in Wood Plastic Composites
  • Processing Factors Influencing Wood-Plastic Composites
  • Potential Role of Additives in Wood Plastic Composites
  • Challenges for WPCs along the Wood Cycle and Supply Chain
  • A Glance at Additives in Wood Plastic Composites
  • Challenges Facing WPC Market
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Polyethylene by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 2: World Historic Review for Polyethylene by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 3: World 16-Year Perspective for Polyethylene by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for Polypropylene by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 5: World Historic Review for Polypropylene by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 6: World 16-Year Perspective for Polypropylene by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 7: World Recent Past, Current & Future Analysis for Polyvinylchloride by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 8: World Historic Review for Polyvinylchloride by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 9: World 16-Year Perspective for Polyvinylchloride by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 10: World Recent Past, Current & Future Analysis for Other Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 11: World Historic Review for Other Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 12: World 16-Year Perspective for Other Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 13: World Recent Past, Current & Future Analysis for Building & Construction by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 14: World Historic Review for Building & Construction by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 15: World 16-Year Perspective for Building & Construction by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 16: World Recent Past, Current & Future Analysis for Automotive Components by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 17: World Historic Review for Automotive Components by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 18: World 16-Year Perspective for Automotive Components by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 19: World Recent Past, Current & Future Analysis for Industrial & Consumer Goods by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 20: World Historic Review for Industrial & Consumer Goods by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 21: World 16-Year Perspective for Industrial & Consumer Goods by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 22: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 23: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 24: World 16-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 25: World Wood Plastic Composites Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
  • TABLE 26: World Recent Past, Current & Future Analysis for Wood Plastic Composites by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 27: World Historic Review for Wood Plastic Composites by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 28: World 16-Year Perspective for Wood Plastic Composites by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Wood Plastic Composites Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • CANADA
  • JAPAN
  • CHINA
  • Wood Plastic Composites Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • EUROPE
  • Wood Plastic Composites Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Wood Plastic Composites Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • INDIA
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • AFRICA
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • AIMPLAS Instituto Tecnológico del Plástico
  • AXION STRUCTURAL INNOVATIONS LLC
  • CertainTeed Corporation
  • Dow
  • Fiberon LLC
  • FKuR Kunststoff GmbH
  • JELU-WERK J. Ehrler GmbH & Co. KG
  • NewTechWood Company Limited
  • Oldcastle APG, Inc.
  • Renolit SE
  • TimberTech by AZEK Building Products
  • Trex Company, Inc.
  • UFP Industries, Inc.