Dublin, May 17, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Wood Plastic Composite Market by Type, Application and Region - Global Trends & Forecast to 2021" report to their offering.
The wood-plastic composites market is projected to reach USD 5.84 Billion by 2021, at a CAGR of 12.4% from 2016 to 2021. The key factor for the wood-plastic composites market growth is the increasing demand from the building & construction application.
The major applications of wood-plastic composites are building & construction products, followed by automotive components. In building & construction application, wood-plastic composites are widely used in decking, molding & sliding, and fencing. Growing demand for high-performance, low-maintenance, and low-cost building products that are eco-friendly and offer maintenance-free properties is expected to fuel the global demand for wood-plastic composites in coming years. In addition, increasing demand for recyclable and biodegradable materials for manufacturing components, along with the superior mechanical strength, weight reduction, and fuel efficiency characteristics of wood-plastic composites are expected to enhance the demand for these composites during the forecast period.
Based on type, the wood-plastic composites market has been segmented into polyethylene (PE), polyvinylchloride (PVC), polypropylene (PP), and others that includes acrylonitrile butadiene styrene (ABS) and polylactides (PLA). The polyethylene segment contributed the largest share to the wood-plastic composites market, in terms of value, in 2015. Due to its molecular structure and special arrangement of the molecules, polyethylene (PE) is widely used type in wood-plastic composites for producing decking including flooring, lumber, molding strips, furniture materials, wall cladding, hollow boards, hollow filler sections, and profiles.
The wood-plastic composites market in Asia-Pacific is anticipated to grow at the highest CAGR between 2016 and 2021. The economies in China and India have witnessed growth, fuelled by the increased construction activities and investments in the expansion or upgrade of manufacturing facilities. China, Japan, and India are the largest economies in Asia-Pacific and have more opportunities for the growth of wood-plastic composites market in near future. Initiatives taken by governments to promote growth in the manufacturing sectors will further aid the growth of wood-plastic composites market in these countries.
Companies Mentioned
- Advanced Environmental Recycling Technologies, Inc. (U.S.),
- Axion International, Inc.(U.S.),
- Beologic N.V. (Belgium),
- Certainteed (U.S.),
- Fiberon, Llc (U.S.),
- Fkur Kunststoff Gmbh (Germany.),
- Josef Ehrler Gmbh & Co. Kg. (Germany),
- Polymera, Inc. (U.S.),
- Polyplank Ab (Sweden),
- Tamko Building Products, Inc. (U.S.),
- Timbertech (U.S.),
- Trex Company, Inc. (U.S.),
- Universal Forest Products, Inc. (U.S.),
For more information visit http://www.researchandmarkets.com/research/9c9vth/wood_plastic
Wood Plastic Composite Market by Type, Application and Region - Global Trends & Forecast to 2021
| Source: Research and Markets