Scope of the Wood Plastic Composite Industry in the U.S.
by Susan Hill Business Consultant26 March 2019, The U.S. Wood Plastic Composite Market size is
anticipated to reach USD 4.54 billion by 2025 owing to increasing demand from
construction sector. Rising awareness regarding properties of wood plastic
composites (WPCs) such as better thermal stability, recyclability, and
stiffness is expected to propel market growth over the forecast period. Furthermore,
rising application scope in landscaping and street constructions due to noise
barrier characteristics coupled with booming construction and automotive
industries are expected to fuel regional market expansion. Rising application
of WPC for manufacturing various consumer goods such as pencils, toys,
lipsticks, cups, and high-class packaging is projected to propel demand in near
future.
In terms of revenue, polyethylene held
larger market share owing to extensive applications in high performance operations
such as construction and packaging. Moreover, eco-friendliness of this
composite is expected to complement market. Polyvinylchloride is expected to be
the fastest growing segment over the forecast period as it is widely used
across automotive, furniture, and construction industries. Commercial WPCs used
in manufacturing high-end furniture, automotive units for luxurious cars, and
other wooden infrastructure, make heavy use of polyvinylchloride as a raw
material.
Browse Details of Report @ https://www.hexaresearch.com/research-report/us-wood-plastic-composite-market
Automotive is expected to be the
fastest growing application segment in the wood plastic composite market over
the forecast period. WPCs are increasingly being used in manufacturing car
interiors, door panels, and seat cushions owing to their high machinability.
This factor is projected to provide growth opportunity in the forthcoming
years. WPC is used in high- and mid-range passenger vehicle manufacturing.
Rising demand for lightweight automotive to boost fuel efficiency and to reduce
carbon emissions is expected to propel market growth.
Improving economy in U.S. is expected
to drive demand for commercial and residential construction and renovation
activities. Rising high income population resulting in higher spending power is
expected to propel demand for high-end vehicles. Decking application is
expected to witness expansion at a significant CAGR owing to dimensional
stability, low maintenance cost, and extended life span of wood plastic
composite. Increasing consumer demand for products with high aesthetic appeal
and longevity is expected to propel the market over the forecast period. Wood
plastic composite also prevents growth of mold and premature aging of deck,
thus increasing adoption in manufactuing decks.
The U.S. wood plastic composite market
is moderately consolidated, with presence of numerous manufacturers. Companies
are adopting backward integration strategy to compete in growing marketplace.
Backward integration provides competitiveness over price and quality.
Furthermore, companies are investing in research and development activities to
innovate products with more strength and durability. Prominent companies
include Advanced Environmental Recycling Technologies, Inc.; Axion
International, Inc.; CertainTeed Corporation; and Fiberon, LLC. Few large
companies such as Cairn International and Entec have raw material extraction
and purification units for manufacturing Polyethylene (PE), Polypropylene (PP),
and Polyvinylchloride (PVC) among other products.
Hexa Research has segmented the U.S.
wood plastic composite market report based on product, application and end use
Segmentation by
Product
• Polyethylene
• Polyvinylchloride
• Polypropylene
• Others
Segmentation by
Application
• Building & Construction
• Automotive
• Industrial & Consumer Goods
• Others
Segmentation by
End Use
• Decking
• Molding & Siding
• Fencing
Key players
analyzed:
• Advanced Environmental Recycling Technologies, Inc. (AERT)
• Axion Structural Innovations LLC
• CetainTeed Corporation
• Fiberon
• Fkur Kunststoff GmbH
• Renolit
• TAMKO Building Products, Inc.
• TimberTech
• Trex Company, Inc.
• Universal Forest Product
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Created on Mar 26th 2019 05:09. Viewed 307 times.