Selbyville, Delaware,, Aug. 13, 2023 (GLOBE NEWSWIRE) -- The wood plastic composite floorings market valuation is expected to reach USD 4.6 billion by 2032, as reported in a research study by Global Market Insights Inc.
The rapid adoption of advanced production techniques will positively influence the market outlook. Industry players are producing high-quality WPC floorings with improved strength, moisture & decay resistance, and dimensional stability to withstand harsh environmental conditions. WPC flooring is emerging as an eco-friendly alternative to traditional hardwood flooring, as it utilizes recycled materials and reduces the need for deforestation. This has made it a popular choice for commercial establishments looking to minimize their environmental impact.
Based on thickness, the 5mm wood plastic composite floorings market size will grow substantially by 2032, due to benefits such as greater performance, durability, and aesthetic appeal. The 5mm WPC floorings market has gained popularity in recent years due to the increasing demand for sustainable and durable flooring materials. The rapid urbanization and infrastructural development in emerging economies have led to a surge in construction activities, further boosting the need for 5mm WPC floorings.
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The demand for wood plastic composite floorings among commercial end-users is set to increase significantly over 2032. The commercial sector holds a significant share in the 5mm wood plastic composite floorings market, owing to their high resistance to wear and tear, making them suitable for high-traffic areas. In commercial spaces such as offices, hotels, and retail stores, wood plastic composite floorings offer an attractive and long-lasting solution that can withstand constant use. Additionally, their waterproof nature makes them an ideal choice for areas prone to moisture, such as bathrooms and kitchens in commercial establishments.
Asia Pacific wood plastic composite floorings industry size is poised to observe a notable growth rate up to 2032. China is the largest producer and exporter of WPC floorings, catering to the increasing demand for eco-friendly building materials in the global market. The country's booming construction industry, coupled with the government's support for sustainable development, has provided a conducive environment for the wood plastic composite floorings market growth. Moreover, Chinese manufacturers are continuously investing in research and development to improve the quality and performance of their products, further strengthening their position in the regional market.
Some of the leading companies operating in the wood plastic composite floorings business include Pro Tek, Mannington Mills, Parterre Flooring, OAKIO, Spectra Contract Flooring, Coretec, Tecnodeck, Novowood, Leben India Pvt. Ltd and Armstrong Flooring.
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Wood plastic composite floorings market news:
• January 2023: COREtec revealed n15 new waterproof floor styles with a subtle rebrand to the COREtec PRO (SPC) line to provide customers with highly authentic and trending products.
• August 2022: Spectra Contract Flooring entered a new partnership with Butler Flooring Services, a prominent commercial floor covering provider in Kentucky, U.S. to boost market presence and customer reach.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Wood Plastic Composite (WPC) Floorings industry 3600 synopsis, 2018 – 2032
Chapter 3 Global Wood Plastic Composite Floorings Market Insights
3.1 Industry segmentation
3.2 Industry Ecosystem
3.3 Type landscape
3.4 Regulatory landscape
3.5 Pricing analysis, by region
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Increasing demand for eco-friendly flooring
3.6.1.2 Growing construction industry
3.6.2 Pitfall and Challenges
3.6.2.1 Limited design options
3.7 Innovation and sustainability
3.8 Growth potential analysis, 2022
3.9 Porter’s analysis
3.10 PESTEL analysis
3.11 Impact of the COVID-19 on Wood Plastic Composite (WPC) Floorings market
3.12 Impact of Russia-Ukraine war on Wood Plastic Composite (WPC) Floorings market
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
