Wood plastic composite is a hybrid material made from natural wood and plastic fiber. Saw dust is mixed with plastic powder, which is then extruded or molded. Other additives such as colorants, reinforcing agents, and lubricants are added for specific applications. Wood plastic composite is a sustainable material made from waste wood and recycled plastic used in outdoor decking floors, railings, fences, cladding, outdoor landscape, cornices, door and window frames, indoor furniture, and outdoor furniture among others. Wood plastic composite is moisture- and rot-resistant, and can be developed into a wide range of shapes and dimension. Wood plastic composites are used in various applications such as building and architecture, automotive, and consumer goods among others. Other features offered by wood plastic composite include ease of maintenance, resistance to ultra violet light, durability, slip resistance, and weather resistance among others.
The growing availability of recycled plastic and wood wastes primarily drives the growth of the wood plastic composite market. There has been an increased demand of wood plastic composites from building, architecture, and construction sectors. The growing awareness among consumers regarding use of chemicals in building materials, along with stringent regulations introduced by governments regulating the use of chemicals supports the growth of the wood plastic composite market. Regulations and bans on use of copper, arsenic, and chromium boost the growth of wood plastic composite market. The increasing demand of recyclable materials from the automotive and consumer goods sectors fosters the wood plastic composite market growth. There has been an increased demand of wood plastic composites in emerging economies of Asia-Pacific owing to development of construction and automotive sectors. Global players are expanding their business in this region to increase their customer base and improve the geographical outreach.
The global Wood Plastic Composites market is segmented on the basis of type, end-user, and geography.
Geographically, the global Wood Plastic Composites market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
On the basis of geography, Asia-Pacific is expected to grow at the fastest rate during the forecast period. The increasing demand from the automotive sector is expected to drive the growth of the wood plastic composite market in this region. The growing disposable income and improving lifestyle of consumer also accelerates the adoption of wood plastic composites. The increasing demand for bio-based products in countries such as China, Japan, and India would provide growth opportunities for the wood plastic composite market during the forecast period. The presence of large number of automotive manufacturers and consumer goods developers also augments the growth of wood plastic composite market in the region.
Key players in the global Wood Plastic Composites market are: