The wood plastic composites market is forecasted to flourish at a CAGR of 11.3% and reach a valuation of USD 16.06 Bn by 2032, while it holds a revenue of USD 6.38 Bn in 2022.

Growing construction and repairing activities in the areas with dilapidated buildings are fueling the sales of wood-plastic composites, though the covid-19 has damaged the supply chain and distribution channel, limiting the growth of wood plastic composites market.

Wood plastic composite with its lower melting temperature, unlike the other conventional wood products is expected to grow at a decent rate over the forecast period. Its lower cost and energy-efficient structure attracts a lot of end-users, fueling the sales of wood plastic composites.

Expanding wood-plastic composites market size can be attributed to its nature-friendly feature because of which it is used in planned cities to keep the environment healthy and the habitat more natural. This not only increases the sales of wood plastic composites but creates positive future prospects for the market.

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Key Takeaways from Market Study

• As on 2022, the      valuation of wood plastic composites market is US $ 6.38 billion.

• In 2032, the      valuation for the wood plastic composites market is expected to be US $      16.06 billion.

• Based on the      application, the building and construction segment holds 71% of the global      revenue.

• Based on the product      type, the leading segment is Polypropylene holding 13% of the market      share.

• Asia Pacific is      currently the largest market having 30.11% of the global share.

• South American      market is expected to be one of the fastest growing markets and is      currently showing positive signs.

• North American      market is anticipated to grow during the forecast period because of the      wide scope in the usage of the product.

• European market as      well is expected to grow during the forecast period because of the      eco-friendly aspect of the product.

 “The usage of the wood plastic composites has increased in the recent times owing its lower cost and energy-efficient manufacturing processes, and increased scope of usage. Additionally, an important aspect associated with wood plastic composites are that these are eco-friendly, which contribute to the cause of sustainable development.”  says a Future Market Insights analyst.

Competitive Landscape

The Wood plastic composites market is composed of enterprises that are focusing on expanding their supply chain and the sales channel. The key competitors understand and focus on experimenting with the product while making it nature-friendly and industry-specific for the end users. This makes the competitive landscape more dynamic and versatile, thereby leading to the expansion of wood plastic composites market.

Recent Developments

• CertainTeed      Corporation has added new products into its siding portfolio that includes      vinyl, polymer, stone and composite siding. Composite siding includes      construction specific wood plastic composites. This fuels the sales of      wood plastic composites.

• Fiberon and BlueLinx      has introduced 14 new distribution spaces for composite decking and      railing products. These new distribution centers are located in Denver,      Colorado, Jacksonville and Tampa, Florida, Chicago, Illinois, Detroit and      Grand Rapids, Michigan, among other cities, pushing the demand for wood      plastic composites

Wood Plastic Composites Market by Segmentation

By Product Type:

• Polyethylene

• Polypropylene

• Polyvinylchloride

By Application Outlook:

• Building and      Construction

• Automotive      Components

• Industrial and      Consumer Goods

By Region:

• North America

• Latin America

• Europe

• East Asia

• South Asia

• Oceania

• Middle East and      Africa

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