13 September 2018, 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.
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.
Browse Details of Report @ https://www.hexaresearch.com/research-report/us-wood-plastic-composite-market
Hexa Research has segmented the U.S. wood plastic composite market report based on product, application and end use
Segmentation by Product
Segmentation by Application
• Building & Construction
• Industrial & Consumer Goods
Segmentation by End Use
• Molding & Siding
Key players analyzed:
• Advanced Environmental Recycling Technologies, Inc. (AERT)
• Axion Structural Innovations LLC
• CetainTeed Corporation
• Fkur Kunststoff GmbH
• TAMKO Building Products, Inc.
• Trex Company, Inc.
• Universal Forest Product
Browse Related Category Reports @
U.S. Bathroom Partition Market : New standards set by the U.S. Green Building Council together with Restroom Access Act is projected to thrive the U.S. Bathroom Partition Market growth and enhancing the competition among various manufacturers for more innovative and sustainable product.
Aluminum Composite Panel Market : Rapid urbanization and rising consciousness among people for environment conservation are contributing to the growth of the Aluminum Composite Panel Market.
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
More Information Visit @ www.hexaresearch.com
Company Name: Hexa Research
Contact Person: Ryan Shaw
Email: Send Email
Address:Felton Office Plaza, 6265 Highway 9
State: California 95018
Country: United States