According to the latest market research study by Technavio, the global wood plastic composites market is likely to grow at a CAGR of around 11% during the predicted period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global wood plastic composites market regarding revenue and evolving market trends. The report also includes an in-depth analysis and forecasts for various market sectors and all geographical regions.
Technavio research analysts categorize the market based on the product type
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The top three revenue contributing product segments are elaborated below:
Global polyethylene WPCs market: The extensive use of polyethylene in the manufacturing process of thermoplastic polymers will fuel the growth of this market sector. The different types of polyethylene available in the market include HDPE, low-density polyethylene (LDPE), linear LDPE (LLDPE), and ultrahigh molecular weight polyethylene (UMWPE). The surplus availability of recycled HDPE is driving the demand in this market segment. The US is the largest user of these materials in the global market.
“The growth in the building and construction segment will foster the growth of the polyethylene or recycled polyethylene market. These materials are available in the form of sheet stock, rods, and specialty tapes that can be used for subtractive machining in mills and lathes. The increasing efforts towards the development of fused deposition modeling technology for these materials will revolutionize the market,” says Mantri Charan Kumar, a lead analyst at Technavio for research on bio-chemicals and bio-materials.
Global polyvinyl chloride WPCs market: The increasing applications of polyvinyl chloride in the household, industrial, and commercial sectors will help in the growth of this market segment. This material is replacing glass, iron, copper, and wood in different applications because of its operational efficiencies and benefits. The polymer has high hardness and mechanical properties, which enhances with increasing molecular weight and low temperature. PVC is manufactured from ethylene derived from the oil and gas industry, and it can also be manufactured using various hydrocarbons, including derivatives of plants, sugarcane, and coal.
Global polypropylene WPCs market: The use of polypropylene for injection molding, blow molding, and general purpose extrusion will increase the demand for these materials in the global market. PP is an unsaturated polyolefin, which is semi-rigid in nature and offers good chemical, heat, and fatigue resistance even at high temperatures. The growing development of CNC machines and 3D printers will increase the adoption of these materials in various countries across the globe.
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The key players functioning in the global wood-plastic composites market are:
- Advanced Environmental Recycling Technologies (AERT)
- CPG International
- Fiberon
- Trex Company
- Universal Forest Products
The other prominent vendors in the market consist of Envisiontec, ExOne, MASSIVit 3D, Shaanxi Hengtong Intelligent Machine, and Ultimaker.
A more detailed breakdown is presented in the Technavio report titled, ‘Global Wood-Plastic Composites Market 2017-2021’. Technavio also customizes reports by other regions and detailed segments upon request.
Other related reports:
- Global Engineered Wood Products Market 2016-2020
- Global Timber Decking Market 2016-2020
- Recycled Office Furniture Market in the US 2016-2020
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