Wood Plastic Composite (WPC) is a material made of a combination of wood fiber and thermoplastic resin. WPC has become a popular building material due to its durability and sustainability, as it is made from recycled plastic and wood fibers. WPC is also highly resistant to water, insects, and decay, making it an ideal material for outdoor applications such as decking, fencing, and cladding. In addition, WPC is also more cost-effective than traditional materials, and is easy to install and maintain. Wood plastic composite has a lower melting temperature compared to conventional wood products, which lowers the energy cost for end-users and reduces the environmental impact of the product.
WPC Is an Ideal Material for a Variety of Applications
WPC is also a great choice for interior applications such as furniture and wall panels, due to its high resistance to moisture and wear. The material is extremely stable and can withstand changes in temperature and humidity, making it an ideal choice for use in areas such as bathrooms, kitchens, and even basements. It is fire-resistant, meaning that it won’t be damaged by flames or other sources of heat. It can be cut into various shapes and sizes, making it suitable for use in a wide range of projects. Additionally, it can also be painted or stained, allowing you to customize the look of your project.
Indian Market Outlook
The India wood plastic composites market reached a value of US$ 196.7 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 393.5 Million by 2027, exhibiting a growth rate (CAGR) of 12% during 2022-2027. In India, WPC is widely utilized as a cost-effective and sustainable alternative to hardwood in numerous building applications, such as windows, flooring, decking, etc. Moreover, the growing number of green buildings in the country is also driving the demand for WPC for constructing pillars, balconies, fences, staircases, roofs, window frames, etc. the increasing popularity of modular kitchen accessories is further augmenting the adoption of composite materials, like WPC, as they are easily customizable and offer enhanced efficiency even in high temperatures. Additionally, the rising concerns towards depletion of natural resources are also propelling the need for WPC that encourages the reuse of wood waste in the country. Apart from this, the launch of several initiatives by the Indian government for creating awareness towards the detrimental effects of conventional construction materials on human health and the environment is acting as a significant growth-inducing factor. Additionally, the extensive R&D activities pertaining to the utilization of innovative polymers for improving the durability and material quality of WPC are expected to drive the India market in the coming years.
Global Market Outlook
The global wood plastic composites market size was estimated at USD 5.76 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2022 to 2030. Increasing demand for wood plastic composite in manufacturing noise barriers for street construction, sheet pilings for landscaping, and garden furniture is expected to surge the product demand during the forecast period. In addition, the rising demand for wood plastic composite in manufacturing consumer goods including, toys, and showpieces is anticipated to further propel the market growth over the coming years.
Asia Pacific region led the market and accounted for over 30.11% share of global revenue in 2021. The region is expected to emerge as the fastest-growing market for owing to the increased per capita income, coupled with rapid industrialization. The shift in China consumer behaviour, growing local competition, fragmented distribution, and rising dual income are expected to create opportunities for key manufacturers during the forecast period.
Construction activities in the Central and South American economies have grown substantially owing to the rising income levels and shifting consumer preference towards green buildings. Expanding the commercial construction sector coupled with the government initiatives to create awareness about green buildings among people is expected to stimulate market growth the forecast period.
WPC has become increasingly popular in recent years due to its versatile nature and the fact that it offers a sustainable solution to traditional materials like wood. It is an ideal material for entrepreneurs looking to launch a business that involves outdoor products or structures. WPC provides a wide range of benefits, making it a smart choice for those looking for a reliable material that can withstand the elements.
Wood Plastic Composites Market Include
· Advanced Environmental Recycling Technologies, Inc. (AERT)
· Axion Structural Innovations LLC
· Beologic N.V.
· CertainTeed Corporation
· Fiberon, LLC
· Fkur Kunststoff GmbH
· Guangzhou Kindwood Co. Ltd.
· Jelu-Werk Josef Ehrler GmbH & Co. KG
· PolyPlank AB
· TAMKO Building Products, Inc.
· Trex Company, Inc.
· Universal Forest Product