Global Wood-Plastic Composites Market is Expected to Reach Around USD 6.0 Billion by 2020
Global wood-plastic composites market was valued at USD 3.3 billion in 2014, and is expected to reach USD 6.0 billion in 2020, growing at a CAGR 10.5% by 2020
Zion Research has published a new report titled “Wood-Plastic Composites (Polyethylene, Polypropylene, Polyvinyl Chloride, and Others) Market for Building & Construction, Automotive, Electrical, and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 - 2020.” According to the report, global demand for wood-plastic composites was valued at USD 3.3 billion in 2014, and is expected to reach USD 6.0 billion in 2020, growing at a CAGR of around 10.5% between 2015 and 2020. In terms of volume, the global wood-plastic composites market stood at 3,000.0 kilo tons in 2014.
Wood-plastic composites are made up of wood floor or fiber and thermoplastics such as The desired shape and size is achieved by the extrusion technique employed in molding wood-plastic composite mixture. Wood-plastic composites exhibit high durability, low maintenance cost, adequate relative strength and stiffness, lower prices as compared to other competing materials. Being water, weather and mould resistant, this material can be used for various outdoor applications; whereas untreated or chemically treated timber products are not as suited to weather ability as WPC products.
Browse the full "Wood-Plastic Composites (Polyethylene, Polypropylene, Polyvinyl Chloride, and Others) Market for Building & Construction, Automotive, Electrical, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 - 2020" report athttp://www.marketresearchstore.com/report/wood-plastic-composites-market-z38105
The wood-plastic composite market is mainly driven by the growing building & construction market across the world. Wood-plastic composites are primarily used for decking, fencing, molding and windows. Automotive industry is another important outlet for wood-plastic composites market. Rising demand for light weight vehicles has been resulted into growing usage of wood-plastic composites in different applications in automotive industry. Wood-plastic composites are widely used in manufacturing of various automotive components like dashboard, back rests, interior liners and internal trim of door panels. Use of wood-plastic composites in the manufacturing of components helps reducing wirght of components and in tune reduces the overall weight of a vehicle increasing its fuel efficiency.
The polyethylene product segment held the largest share in the global wood-plastic composite market and accounted over 60% of the total volume consumed in 2014. Whereas, the polyvinyl chloride composites are expected to be the fastest growing product segment of the wood-plastic composites market during the forecast period. Building & construction was dominating the application segment of the wood-plastic composites market and accounted for largest share of the market in 2014. Automotive was the second largest market with over 20% share of the total wood-plastic composites volume consumed in 2014. WPCs are used for manufacturing automobile components such as internal trim for door panels, dashboards, luggage racks, seat cushions, backrests and other interior liners. Usage of WPCs reduces the overall weight of automobiles, which also enhances fuel efficiency, and it also ensures compliance with environmental regulations due to reduced carbon emissions. Automotive is also expected be the fastest growing application market fo wood-plastic composites in the next five years.
Get Request Sample @ http://goo.gl/gpkEBJ
North America was the leading regional market for wood-plastic composites in 2014. Europe was the second largest market with around 17% share in total volume consumption in 2014. However, demand for wood-plastic composites in Asia Pacific is expected to exhibit robust growth owing to booming construction and automotive industry in the region.
Get Illustrative Sample before buying: http://goo.gl/lxiQBI
This report segments the global wood-plastic composites market as follows:
Wood-Plastic Composites Market: Product Segment Analysis
Wood-Plastic Composites Market: Application Analysis
Wood-Plastic Composites Market: Regional Analysis
Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHOR
Zion Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Zion Research experienced team of Analysts, Researchers, and Consultants uses proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.